It’s seemingly the week for major label investments in digital music, given the Shazam reports. But Sony Music Entertainment has also taken a stake in another digital music firm: Indian company Infibeam Digital Entertainment. Business Standard reported the news this week, claiming that Sony had acquired a 26% stake in the company in a “multi-million dollar deal”. Infibeam’s business is based around helping labels and brands build their own streaming and download services, with Sony’s president of India and the Middle East Shridhar Subramaniam suggesting it “fills a need gap for all music rights owners”. How? “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.” So an Omnifone of India, sort of.
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