In a significant development for the world of Indian classical music, renowned violinist and Chartered Accountant, Ratish Tagde, has taken up the mantle of studying the Revenue from Digital Streaming for Traditional Musicians – Opportunities & Challenges. Recognizing the dynamic landscape of the music industry and the unstoppable wave of digitalization, Tagde aims to shed light on the potential of digital streaming as a revenue source for Indian classical musicians and the imperative for their active participation in embracing technology.
As the founder of India’s pioneering classical music channel Insync, Tagde has witnessed firsthand the transformative power of technology on the creation, distribution, and consumption of music. With the global rise of digital streaming platforms, traditional musicians in India now have an unprecedented opportunity to reach wider audiences, both locally and internationally.
In his pursuit to uncover the untapped potential of digital streaming for traditional musicians, Tagde has embarked on a doctorate program at the esteemed Swiss School of Business Management (SSBM). The core of his research revolves around the understanding that change is inevitable and embracing technology is essential for preserving and promoting Indian classical music in the digital era.
Tagde remarked, “Technological advancements have had a profound impact on the music industry, and Indian classical musicians cannot afford to remain aloof from this revolution. Digital streaming platforms offer a vast audience base and a level playing field for musicians from all genres, including classical music. It is crucial for our musicians to understand and leverage these opportunities to sustain their art form and thrive in the digital age.”
The survey launched by Ratish Tagde serves as a critical component of his research, where the opinions and observations of musicians will be analyzed. Traditional musicians from all walks of life are urged to participate in the survey to provide valuable insights that will contribute to a more accurate and comprehensive understanding of the challenges and prospects of digital streaming for Indian classical music.
Supporting the need of Tagde’s research work, Ashish Behl – Vice President, Hungama Digital says, “Classical and other traditional Musicians need to understand the digital streaming space and plan their revenue models accordingly. Digital space is a very effective tool to reach and enhance your targeted audience base which opens more avenues like live concerts etc. I am sure that the research undertaken by Ratish ji will help classical musicians to understand this space in more detail and focused manner.”
Leena Divinathan, Program Manager (Music), Neeta Mukesh Ambani Cultural Centre mentions, “Digital streaming has enabled the classical and traditional musicians to pinpoint their fan base and offer their music work beyond just their music content. In addition to the revenue from live concerts, digital space has created additional revenue streams for classical musicians however, the only aspect is that the musicians need to understand the space in more detail and more gains.”
According to eminent Flutiest Pt. Ronu Mujumdar, “Ratish ji understands the digital space very well and I am sure his research will open new doors for the classical musicians to explore this space for more economic benefits.”
The world is witnessing an era of rapid globalization and technological advancement. Embracing digital streaming not only provides musicians with a sustainable income stream but also aids in preserving and propagating the rich tapestry of Indian classical music for generations to come.
Tagde’s research at the Swiss School of Business Management (SSBM) promises to be a milestone in understanding the evolving landscape of the music industry. By participating in the survey, Indian classical musicians can play an active role in shaping the future of their art, transforming challenges into opportunities, and embracing the digital wave with open arms.
As the world turns its attention to the digital realm, it is time for India’s classical musicians to seize the moment, leverage technology, and ensure the resplendent strains of Indian classical music resonate across the globe.
Click HERE to participate in the survey.
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