Warner Music India Takes a Minority Stake in SkillBox as WMG Bets on Emerging Market Growth

Photo Credit: Amarjeet Singha, Jay Mehta, Sujar Parekh, Anmol Kukreja, Roydon Bangera

Warner Music India takes a minority stake in ticketing and live events platform SkillBox as WMG bets on emerging market growth.

Warner Music India (WMI) announced a minority stake in ticketing and live events platform SkillBox as the broader Warner Music Group bets on emerging market growth in the region. The partnership aligns the platform’s ambition to diversify and expand its services within the music and entertainment landscape.

Founded in 2020, Warner Music India rapidly gained a foothold in the domestic market, and aims to become a dominant player by expanding its reach across regional music, global partnerships, and live entertainment.

Managing director of WMI, Jay Mehta, is adopting a “three-pronged approach” to ensure Warner’s success. This includes bringing Indian music to a global audience, establishing itself as a major cultural force in India, and securing a top-three market position in terms of revenue and market share by the end of the upcoming fiscal year. This investment in SkillBox marks a significant move in that strategy.

SkillBox was co-founded by Amnol Kukreja and Sandip Ranjhan, with Roydon Bangera and Amarjeet Singha joining as part of the founding team. Initially, the platform was only a ticketing platform. Since then, it has evolved into a full-service live entertainment company that offers artist tours, ticketing solutions, and branded event experiences. The platform boasts over 1.5 million users, who it taps for community-driven events, artist management, and live technology solutions.

For WMI, the investment represents an opportunity to reach more fans and offer artists a streamlined approach to live performances. SkillBox hopes to expand its artist services in addition to its technological capabilities.

“Investing in SkillBox blends perfectly with Warner Music India’s aim of being an artist-first, fan-first company,” says Mehta, adding that live entertainment is on the verge of substantial growth, and this collaboration could create “dynamic new opportunities” in India’s fast-growing entertainment market.

The global music giant has set its sights on emerging markets like India and China as key areas for expansion, according to Warner Music Group CEO Robert Kyncl. He recently highlighted India as a high-growth potential market and emphasized that WMG is actively seeking acquisition opportunities to solidify a strong foothold in the region.

SkillBox is expected to play an essential role in WMI’s diversification efforts, particularly in live events, merch, and brand partnerships. The investment adds to the company’s ongoing strategy of growing its artist roster and generating multiple revenue streams beyond traditional music sales, largely comprising digital streaming and YouTube royalties.

“Our investment in SkillBox allows us to expand the services we offer to artists, connecting them with fans across India,” said Alfonso Perez Soto, Warner Music’s EVP for recorded music and corporate development.

The live entertainment space in India is continuing to develop, but major players like Warner Music India are eager to tap into that growth. The potential for live music events in such a diverse market is significant, with millions of fans and a thriving independent music scene that spans multiple languages and genres. As more companies look to capitalize on India’s live entertainment sector, Warner Music’s early foray into this space gives it a stronger position in the region.

Link to the source article – https://www.digitalmusicnews.com/2024/11/12/warner-music-india-takes-a-minority-stake-in-skillbox/

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