Indian Music Industry

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Indian Music Industry

Founded	28 February 1936
Location	Mumbai, India
Key people	Blaise Fernandes, President & CEO
Website	indianmi.org

The Indian Music Industry (IMI) is a trust that represents the recording industry distributors in India. It was founded on 28 February 1936, as Indian Phonographic Industry (IPI). It is the 2nd oldest music industry organisation in the world that was involved in protecting copyrights of music producers and supporting growth of music entertainment industry. In 1994, it was renamed as Indian Music Industry (IMI) and represented India at the International Federation of the Phonographic Industry (IFPI). It is also registered with the West Bengal Societies Registration Act. All major music labels in India are part of this association.

IMI has its registered office in Kolkata and Administrative office in Mumbai working on the protection of the rights of music producers and preventing music piracy. It has also been instrumental in launching the IMMIES music awards in collaboration with MTV.

The Indian music industry is largely dominated by Indian film soundtracks, which account for nearly 80% of the country's music revenue, followed by Indi-pop.^[1][2] As of 2014, the largest Indian music record label is T-Series with up to 35% share of the Indian market, followed by Sony Music India (the largest foreign-owned label) with up to 25% share, and then Zee Music Company (which has a partnership with Sony).^[3] As of 2017, 216 million Indians use music streaming services such as YouTube, Hungama, Gaana and JioSaavn.^[4] T-Series has the world's most-viewed and the second most-subscribed YouTube channel.