Warner Music has made a strategic minority investment in India-based live entertainment and ticketing platform SkillBox.
The agreement comes just weeks after India signed economic times The report quoted an interview with WMG CEO Robert Kinkelthe company is actively seeking merger and acquisition opportunities in India.
Warner’s recent M&A activity in the market includes a strategic investment in JetSynthesys’ Global Music Junction in April. news media (Eastern Time) As part of the deal, WMG acquired a 26% stake in Music Junction, the report said.
The company also acquired Indian artist management and live events company E-Positive in October 2023, and acquired a majority stake in digital media and music company Divo in February last year.
“We’ve done well in India, but this is probably a more important part of our story,” Kyncl quoted ET As stated last month.
The global music industry is increasingly paying attention to India, and it’s easy to see why. According to Datareportal, there are 751.5 million By early 2024, the number of Internet users in India will be nearly twice that of the United States, where 97% of the population is active online. The total number of Internet users in India at the beginning of the year was only 52.4% accounts for its total population size, that is 1.44 billion January 2024.
Last year, the market saw the largest year-over-year growth in total annual on-demand music streaming of any country, according to statistics released by Luminate in January.
As MBW reported at the time, if annual streaming volumes grew us Economic growth will slow in 2024, as many expect – but India This year, India will successfully maintain the year-on-year streaming growth rate of 2023 – India may become the world’s largest music streaming region by volume in 2024.
Founder: Anmol Kukreja and Sandeep ranjanand Royden they were born and Amarjit Sinha Joined as part of the founding team, SkillBox started as a ticketing platform and has since expanded into a full-service live entertainment company offering ticketing, live branding solutions and live technology services such as Skillbox Pay.
According to Warner, SkillBox specializes in “curating niche community-led events and experiences” and has toured with artists such as Jacob Collier, Steve Vai, Ben Howard, Karnivool, The Midnight, DIVINE, Hanumankind, and created Bloomverse, K-Wave , Lemonade and LiveBox and other live event IPs.
The SkillBox platform is critical 1.5 million user.
SkillBox has also expanded into artist management through its dedicated management department, horizontal housemanages renowned Indian artists like Parvaaz, Blackstratblues, Raman Negi, JBABE and Parekh and Singh
Warner said that by integrating live events and ticketing into its portfolio, Warner Music India “will provide its artists with the ability to reach a wider audience, while fans will benefit from streamlined, memorable live music experiences”.
“Investing in SkillBox, a ticketing, live events and artist management company, is a perfect fit with Warner Music India’s goal of becoming an artist-first, fan-first company.”
Jay Mehta, Warner Music India and South Asia Regional Cooperation Alliance
Commenting on the partnership, Jay Mehta, Managing Director, Warner Music India and SAARC said: “Investing in SkillBox, a ticketing, live events and artist management company, is a perfect fit with Warner Music India’s goal of being artist-first and fan-first. – The first company.
“SkillBox’s innovative approach to live entertainment is fully aligned with our vision of providing a comprehensive service to artists. Live entertainment is expected to grow rapidly.
“By joining forces, we can create dynamic new opportunities in India’s fast-growing entertainment market and ensure our artists have the best platform to grow.”
“We see huge opportunities in India’s still nascent live entertainment industry.”
Alfonso Perez Soto, Warner Music
Alfonso Perez Soto, President of Warner Music Emerging Markets, added: “We see tremendous opportunity in India’s emerging live entertainment industry.
“Our investment in SkillBox enables us to expand our services seamlessly to domestic and international artists, connecting them with fans across India. We are eager to leverage SkillBox’s expertise in this space and tap into this high-growth market.
Today’s announcement follows Warner Music India’s strategic investments and partnerships with companies such as Divo, E-Positive and JetSynthesys, cementing its position as a leading force in the Indian entertainment industry.
“We are delighted to partner with Warner Music India as it marks an important milestone in SkillBox’s journey.”
Anmol Kukreja, skill box
Anmol Kukreja, CEO and Founder, SkillBox, said, “We are delighted to partner with Warner Music India as it marks an important milestone in SkillBox’s growth journey.
“This partnership aligns with our mission to redefine live entertainment and deliver unparalleled experiences for artists and fans. Leveraging Warner Music’s deep industry expertise, artist lineup and global reach, we aim to push the boundaries of what is possible in live music, Create more opportunities for artists and deliver memorable events to audiences across the country.
“We are excited to partner with Warner Music to build a vibrant live music ecosystem in India. Our shared goal is to shape the first music industry for artists.
Roydon Bangera, Skill Box
Roydon Bangera, Chief Commercial Officer, SkillBox, added: “We are delighted to partner with Warner Music to build a vibrant live music ecosystem in India. Our shared goal is to shape the first music industry for artists.
“By leveraging our expertise in music IP, live and brand experiences, we hope to create more opportunities for artists and fans to connect on a deeper level. This partnership lays the foundation for a new era in India’s live entertainment landscape.global music business
