Music and More – Growing through Innovation in the Asian Music Industry

Overview

The hunger for more and better content has infected most content-related industries, and music is no exception. Recorded music is no longer enough; today’s consumers want audio content, not mere music. Even within the music arena, new platforms in Asia are emerging with unique ways of offering the same content. With a diverse array of audio content – audio books, podcasts, TED talks, etc. – and multiple sources for such content, it is difficult for a music platform to know what genres of audio content to offer, and where to get it from (through proprietary, new content? Or through a partnership with an established content creator?)

What are the latest in engagement and monetisation, and what are the new product lines in the music industry?

This report covers developments in the music industry in China, India and SE Asia and the ways that various music platforms are expanding their product offerings to meet the demands of consumers, examines how these platforms create consumer engagement to encourage user stickiness, and explores their monetisation strategies.

We focus on the following key ideas:

• Strategic partnerships as a content creation and publication strategy

• Revisiting revenue generation: monetising music and audio through subscriptions and VIP memberships

• Encouraging user stickiness and driving engagement with content

• Capitalising on ongoing trends in the music scene (such as moving to subscription-based models and offering premium VIP add-ons to improve the listening experience)

• Securing future content creators and their fanbases through talent management hubs

• Innovating to go beyond music offerings into other forms of audio – audiobooks, podcasts, lectures, ‘audio dramas’, radio, karaoke, etc.