MUMBAI: MyBand – the destination for Indian music bands has launched its Digital Store, which will enable all bands and artists to make available their owned content and enable online based transaction and sale of tracks from their released albums and yet to release albums, directly to the consumers.
MyBand Digital Store is an offering to bridge the gap between artists and the listeners who, can now download individual digital tracks or complete albums in simple clicks across various genres of music. This provides the users / listeners an opportunity to pick content of their choice, which is available for downloads through MyBand Digital store.
MyBand founder Debashis Dey said, "MyBand Digital store is a platform designed on requests of Artists who we have personally met. At every occasion we have been told by Artists that they require a platform independent of Record labels and controlled by them. MyBand Digital store is a step closer to fulfill the artist requirement. MyBand Digital Store is flexible – the artists decide at what price he wants to sell his tracks or albums – the site only keeps a small percentage as management costs post the transaction is complete and acknowledged by the user." He also added – "That the online store should not be seen as a conflict of interest by the Music labels and wishes that more record labels are partnering Media Plus in order to provide online downloads of their existing catalogues."
MyBand Digital Store also comes at a time when studies indicate that online digital sales of music are poised to surpass physical sales. Current analysis by IMI & Soundbuzz projects that the music industry will grow to Rs 41 billion (Rs 4,100 crore) in 2009 from Rs 14.50 billion (Rs 1,450 crore) in 2005. And this growth will be mainly driven by online & digital downloads, which will account for 88 per cent of the music industry’s revenues. This will also be accounted for, by mobile downloads in various formats.