Thousands of crores are going down the drain, thousands will lose job yet few people will make crores of money – This will be the fate of the music industry in the near future. The present situation is no better. When an album is produced, it’s not just the money which matters, there whole lot of Intellectual Property which is involved in terms of creativity. But as the industry fails to check the piracy which has been sucking its revenue like a black hole, it seldom will make money in near future too. Digital technology has been the main culprit till now. This leaves us to ponder over this problem and try to unearth a solution for this.
Sometimes industries worst enemy can become its lifeline. Internet being its worst enemy, one can take the help of the industry to increase the revenue for it. So in this endeavour who best than Google to help us out. With the help of google one can try this model:
- With the help of google one can develop an online music repository like apple itunes which offer music for downloads on payment basis.
- Music must be released only online and designated shops can be had to download and write the music on a cd for people who are not acquainted with online culture.
- Considering the present stats that a music album sells around 50,000 copies, with an album cost of 50rs, revenue generated is around Rs. 2500000. But by prising the music at a cheap prise of Rs.5/song and Rs.10 per ‘featured’ song, and if we assume that with a publicity using ad networks such as google, adbrite. With a popular superstar one can expect hits of around 10 lakhs and a transaction of close to 5 lakh or so. With this one can expect a revenue of Rs 5000000. This will not only give publicity to the movie, it will also be a major revenue channel.
A similar model can be used for movie industry. After the ritual of releasing the movie in the multiplex, the following model can be followed:
- Before the releasing the movie on a DVD, one can make use of a content delivery service like the one used for music. One can keep the cost as low as Rs 50 per copy. To increase the revenue, one can invite ads which can be put on the screen when is movie is played. This will augment well with the generation of revenue.
Its inevitable that one will make multiple copies of the movie and the music but even without it one does do the same thing even now. In case of movie, when a movie is copied multi times one can find that even the ads get displayed with the duplicated copies. This just increases the views for an advertiser. This will checkmate the piracy industry and will be a win-win situation for both the film producer and the advertiser.