US-headquartered entertainment and record label conglomerate Warner Music Group (WMG) and digital entertainment and technology company JetSynthesys have announced an exclusive strategic partnership.
The partnership makes JetSynthesys WMG’s official India partner for music label licensing and acquisition, artist management, event management, original content creation across music, 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 INR 200 crores into the Indian entertainment sector over the next three years to ramp up its foothold in the space.
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 INR 15 Bn in 2020, the Indian music industry itself is estimated to reach INR 23 Bn by the end of 2023 according to recent industry reports. JetSynthesys has shown remarkable growth in the last few years, especially in gaming and esports and digital products and platforms. They have a keen understanding of the Indian market, also bringing incredible creativity and technical proficiency to the table, and we couldn’t have asked for a better partner to strengthen our foray into the country.”
Rajan Navani, vice chairman and managing director, JetSynthesys, said, “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."
Jay Mehta, MD, Warner Music - South Asia, added, "Warner Music Group made its official foray into India last year and we’ve been working on building our presence in the country since then. The association with JetSynthesys comes at a rather opportune moment when the Indian music industry, and the entertainment space in general, is on an unprecedented growth spree. As one of the top three names in the music entertainment space globally, WMG is always on the lookout for innovating and growing the space further. The association with JetSynthesys not only helps us bolster the music space in India but also get dynamic high-interest verticals like gaming and esports into our fold."
Commenting on the development, Rajkumar Singh, CEO, Global Music Junction Pvt. Ltd. (JetSynthesys’ digital entertainment venture and one of the leading vernacular music labels in the country) said, “The Indian entertainment industry has always been a bustling space and the pandemic has offered it a further shot in the arm. Through this association and capital infusion, we aim to build the ecosystem further, strengthen existing forms of entertainment and also create newer formats. Most importantly, this will help us make Global Music Junction an even stronger entity in the vernacular music space and also scale JetSynthesys’ digital entertainment arm further.”