Mumbai, Oct 04:
US-headquartered multinational entertainment and record label conglomerate Warner Music Group (WMG)and new age digital entertainment and technology company JetSynthesyshave come together to announce an exclusive strategic partnership. With this association, JetSynthesys becomes WMG’s official India partner for all things related to music label licensing and acquisition, artist management, event management, original content creation acrossmusic, short videos and films, along with mobile gaming and esports. Additionally, JetSynthesys, which has a global foray in gaming, digital entertainment, and interest-based social community platforms, will invest Rs 200 crores into the Indian entertainment sector over the next three years to ramp up its foothold in the space further.
Speaking about the development, Mr. Perez-Soto Alfonso Javier, President Emerging Markets, Warner Music Group said, “India is one of the strongest emerging markets globally when it comes to entertainment, across formats and verticals. Valued at around Rs 15 bn in 2020, the Indian music industry itself is estimated to reach Rs 23 bn by the end of 2023 according to recent industry reports.’’ “We are excited to join forces with Warner Music Group and become their partner for the Indian market. With a strong pulse over the changing consumer preferences and behaviour when it comes to entertainment, together we aim to strengthen the ecosystem and contribute to the proliferating industry by catering to the rising demand for newer entertainment avenues. Through this partnership, we also aim to bolster our offerings at JetSynthesys’ Global Music Junction, taking it to the next level”, said Mr.Rajan Navani, Vice Chairman & Managing Director, JetSynthesys.
Mumbai, Oct 04: