BIMC aims to unlock hidden economy
Dumisani Ncube | Wednesday July 26, 2017 11:58
BIMC is an annual conference that aims at improving the country’s music industry, time and again, through different initiatives. This year the conference looks forward to brining local and international music business players that will talk on the different aspects that can help unlock the hidden economy within the local music industry. The event will be held in the coming November.
This time around the conference will focus on issues such as industrialisation of the music industry, promotion of artists mobility, promotion of the live music circuit and selling music on digital platforms to mention but a few.
“There are many sub-sectors and industries that are non-existent. Our interest is to invite people trading in these areas to try and open shop here. Some of these are CD pressing plants while a majority are closing shop in South Africa its an opportunity here as we do not have one. There are many others that we will look at as a way of creating full time employment,” Seabelo Modibe, the BIMC founder said.
He vividly noted that there are a number of untapped areas within the local music industry that can help boost musicians and other music players in making a living through music.
While talking of the different dynamics within the music industry, Modibe gave an example of digital sales statistics by the International Federation of the Phonographic Industry (IFPI).
“The music industry has gone fully digital according to the IFPI music industry report of 2017. Digital share of revenue stands at 50% and has grown by 17.7% as compared to 2016 while physical has fallen by 7.5 percent and the growth in streaming is up by 60.4% worldwide. So this year we intend to give focus on digital media.”
Music industry players from different entities yet to be mentioned are expected to be in the country later tis year facilitating the various sessions at BIMC.
Modibe noted that BIMC has gone on to partner with South Africa’s KwaZulu-Natal United Music Industry Association (KUMISA) and KZN Music Imbizo in a project whereby the South African entities will develop short courses on artist management and music publishing for Batswana.