Universal Music Group’s latest expansion in India is not a label launch or acquisition, but an investment in a prominent talent management agency.
TM Ventures’ clients include Arijit Singh, Badshah and Nucleya among other artists, with comedy, TV and film talent also on its books. Universal Music India has acquired a majority stake in the company, whose operations also include music industry news site Music Plus, and the producer of industry conference All About Music.
That does spark a few questions about what having UMG as a majority shareholder means for the editorial line and programming strategy of those two subsidiaries respectively. However, the main focus of the deal’s announcement is on the management side of the business.
“UMG’s experience, structure, process, access, and guidance will be the much-required support for us to work together towards our core goal of providing world-class services and opportunities to our artists in the most transparent and innovative ways,” said TM founder Tarsame Mittal.