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The winds of change sweeping across Bollywood have not left the music industry untouched. While on the one hand new talent is being encouraged, on the other the old set ways of doing business are giving way to corporatisation.

Filmmaker Yash Chopra led the way by parting ways with HMV-Saregama group and setting up his own music label called Yash Raj Music. Chopra is not the only film producer to have ventured into the music industry. Subhash Ghai's Mukta Arts too has launched a music label. Sahara One Pictures, a joint venture between advertising company Percept and Sahara Motion Pictures, is also poised to launch a music business soon.

So the music industry, which has more than its fair share of problems (audio piracy, no licensing fees from radio stations), is emulating what has been happening in the West where successful artistes worldwide have established their own music labels.

For all the music industry's scepticism, Yash Raj Films, Mukta Arts and probably Sahara exude confidence that they'll flourish. More power to their elbow, we say.