~ To focus on distribution of Music and Videos across devices & channels~Infibeam Incorporation Pvt ltd (Infibeam) and global music giant Sony
Music Entertainment have announced a definitive agreement, where in Sony
Music has bought strategic stake in Infibeam Digital Entertainment (P)
Ltd (INDENT). Under this agreement, Infibeam will hold majority stake
in the Company and Sony
Music will hold a 26% stake post completion of transaction. Indent with its clear strategic focus will offer an attractive platform to large and medium music labels in India and International. Any music label or brand holding rights to content can use the Indent platform to engage customers and monetize by distributing digital as well as physical content under their own brand with payment integrations.
Commenting on the same, Shridhar Subramaniam President India and Middle East, Sony Music Entertainment said, "Indent fills a need gap for all Music rights owners. As the digital eco system keeps evolving, there has been a strong need for an independent technology company that music companies can partner with to build innovative services and offerings. Every content owner has aspirations to reach consumers and brands directly, Indent empowers these labels with a scalable and commerce ready platform."
Music will hold a 26% stake post completion of transaction. Indent with its clear strategic focus will offer an attractive platform to large and medium music labels in India and International. Any music label or brand holding rights to content can use the Indent platform to engage customers and monetize by distributing digital as well as physical content under their own brand with payment integrations.
Commenting on the same, Shridhar Subramaniam President India and Middle East, Sony Music Entertainment said, "Indent fills a need gap for all Music rights owners. As the digital eco system keeps evolving, there has been a strong need for an independent technology company that music companies can partner with to build innovative services and offerings. Every content owner has aspirations to reach consumers and brands directly, Indent empowers these labels with a scalable and commerce ready platform."
On this occasion Vishal Mehta, Founder & CEO Infibeam shared that "INDENT
continues to build state-of-the-art inclusive digital platforms
powering music applications installed on millions of mobile phones and
high quality experience to music lovers. Indent will enable brands,
technology and music on common interface with innovative customer
engagement models".
Sony
Music is one of the largest and most integrated music companies in
India owning digital music content rights with highly sophisticated
marketing and distribution channels. Last year, Sony Music partnered
with the new range of Sony Xperia Smartphones to launch 'Sony Music
Jive' - a first of its kind music service that allows consumers to
download and stream music from the Sony Music Catalog of 2 million
songs, which was powered by INDENT. Post the successful launch of the
Jive application on the Xperia smartphones in India, the same
application was launched in Indonesia, North Africa and Middle East
markets. The service was also extended to Sony VIAO laptops in 2013.
With large repository of music content, INDENT will continue developing applications for many large labels and brands with integrated Telco billing, OEM bundling and Social platforms. Currently, INDENT offers its service to SONY Music, INRECO (The Indian Record Manufacturing Company Ltd), to name a few. Indent is projecting revenues of $3-5mm in current year.
About Sony Music:
With large repository of music content, INDENT will continue developing applications for many large labels and brands with integrated Telco billing, OEM bundling and Social platforms. Currently, INDENT offers its service to SONY Music, INRECO (The Indian Record Manufacturing Company Ltd), to name a few. Indent is projecting revenues of $3-5mm in current year.
About Sony Music:
Sony
Music Entertainment is a global recorded music company with a current
roster that includes a broad array of both local artists and
international superstars. The company boasts a vast catalog that
comprises some of the most important recordings in history. It is home
to premier record labels representing music from every genre and artists
like Elvis Presley, Michael Jackson, Santana, Beyonce , Britney
Spears, Ke$ha, Avril Lavigne, Shakira, Kings of Leon, Hurts, Foo
Fighters, Pink , The Script to name a few.
A
wholly owned subsidiary of SONY MUSIC ENTERTAINMENT, SONY MUSIC
ENTERTAINMENT INDIA, boasts of an extensive catalogue that comprises of
some of the most legendary recordings in history and is home to renowned
and celebrated artists and several iconic Bollywood Film soundtracks.
For
publishing, Sony Music India has a tie up with Sony/ATV wherein
Sony/ATV exploits and manages Sony Music India’s publishing works
overseas, likewise, Sony Music India manages Sony/ATV’s International
works across four countries - India, Sri Lanka, Bangladesh and Nepal.
In
2013, Sony Music Entertainment India and Warner Music Group announced a
strategic licence deal for Sony Music to represent Warner Music's
legendary recording artists' releases and labels in India, Sri Lanka and
the other SAARC countries.
About Infibeam:
Infibeam
is the leading global provider of e-commerce technology platform
Buildabazaar.com and owns flagship retail portal Infibeam.com(www.infibeam.com).
The company has strong leadership team with tremendous focus in
offering innovative platform services to clients in India and
International.
कोई टिप्पणी नहीं:
एक टिप्पणी भेजें