Apple has announced the launch of the iTunes Store in India, Russia, Turkey, South Africa and 52 additional countries featuring an incredible selection of local and international music from all the major labels and thousands of independent labels.
The iTunes Store features local artists including AR Rahman in India and one can buy music for as low as Rs. 7!
Indian Music Industry: The Road Ahead
Consumption of music through digital route is set to increase in coming years, FICCI – KPMG report estimates digital music industry to grow at an expected CAGR of 22% till 2016. Currently, most of the consumption via streaming and download are audio based; however it may see a shift towards video. [read: Online Music Industry in India: A look at Past, Present and Future]
Flipkart VS iTunes Store?
Oh well, a quick comparison tells us that iTunes stores is cheaper than Flipkart (most of the cases). Khiladi 786 is priced at Rs. 120 in iTunes and Rs. 175/ in Flipkart. Jab Tak Hai Jaan is priced at Rs. 108 (iTunes), while Flipkart’s price is Rs. 135. However, recently launched Talaash is priced at Rs.
175/ 48 on Flipkart, while iTunes’ price is only Rs. 72/.
Given that Flipkart will not embrace iOS platform, owing to the revenue sharing issues – Apple surely has to grow its ecosystem. The company recently announced its distribution partners in India and expect them to bring the world’s largest media business, i.e. iTunes to India in a more aggressive fashion.
– Intel Capital invested in Hungama, which plans to go global (and launch HTML5 site).