The Indian music industry, currently estimated at around Rs.8.5 billion, could reach Rs.20 billion if best practices are adopted to maximize revenues and stringent steps taken against piracy. To achieve this, the industry would need to grow at 25-30 per cent over the next five years. At present, India ranks 19th in terms of revenues when it comes to music markets. The top spot goes to the United States of America with a market size of around $4 billion, followed by Japan with a market size of close to $3.5 billion. India is at $130 million and neighbour China at number 10 with music revenues to the tune of $300 million. One of the areas where India is severely lacking as compared to a market like the US is synchronization revenues.

(Business Standard)