By Jackky Bhagnani
Success in the film industry relies heavily on passion, adaptability, the ability to take risks and sharp business acumen. Music entrepreneurship is no different. In fact, there are many parallels between the two. Both cater to the needs of target audiences, create opportunities for artists and constantly reinvent content to stay in touch with evolving tastes. Both industries are also relying on inventive marketing and distribution strategies which in the past few years have seen a massive upheaval thanks to disruptive technologies.
We are additionally witnessing the rise of independent voices and democratisation of creative opportunities thanks to multiple streaming platforms as well as rapidly changing consumption patterns. We are now dealing with a zeitgeist defined by Gen Z and it is important to keep pace with it and create something that resonates with the young. You can’t take your audiences for granted anymore. And must have the fire in the belly to break from the norms to offer them something completely fresh.
Speaking of the role that cutting-edge technology is playing in the industry, well, it is also helping makers to conduct in-depth and accurate market research and to plan well in advance how best to reach the desired demographics. We are learning how to leverage technology to study trends, market our creations more profitably and manage logistics with improved efficiency. In both cinema and music, protecting Intellectual Property Rights (IPR) is also crucial and here as well, technology helps to enforce IP rights through digital rights management, Machine Learning (ML), and Artificial intelligence (AI).
And it goes without saying that you need to have a head for numbers. Whether you are making a film or producing music, you need to allocate money judiciously in the right places. As a film producer and a music entrepreneur, I understand the importance of investing in talent. In the music industry especially, my goal is to make Jjust Music an empowering platform that amplifies upcoming talent and gives it every possible support to thrive. To strike a balance between passion for the arts and profitability is another challenge that filmmakers and creative entrepreneurs struggle with.
In any creative endeavour, success is a mercurial phenomenon and this is why you must learn from failure as well as from the high points in your journey. Every experience can teach us how to do better next time and make less mistakes. Being open to constructive criticism goes a long way in helping us to course correct.
As a working actor, producer and entrepreneur, I also embrace the many benefits of a diversified personal brand which makes space for a variety of experiences and enriches my personal and professional life. We are living in a very exciting time where there are so many tools and platforms available to us to express ourselves, reach a large number of people and build a vast body of work.
When I envision the future of Jjust Music and Puja Films, I see two distinct companies that share the same values, create communities of goodwill and have an untiring passion for entertaining people consistently with immense joy and pride.
To anyone who is starting in cinema or music, I would say this; while the world may be your oyster, it is very important to stay close to the people who give you the right advice, are not afraid to criticize you and want to see you win. At the end of the day, we cannot achieve any success by ourselves or endure failure without the support of those who work with us. Building a team is incredibly important as is giving credit where it is due. Motivating others to live up to their potential is one of the most fulfilling aspects of running a business. Because in the end, building a legacy and being a good leader are as important as running a successful business.
The author is Music Entrepreneur, Actor & Film Producer.
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