The music catalogues of heritage artists and songwriters in the western world have been big business. Now one of the companies that’s been active in those acquisitions, Primary Wave, is turning its attention towards India.
It has made a strategic investment in Indian music company Times Music, with the Wall Street Journal reporting that the companies will form a joint venture valued at $100m.
Primary Wave said that it will “invest significant capital in the company and provide resources for further Indian catalog investments”, although the deal will also see it helping Times Music with its global expansion. “Times Music is now primed to make significant investment in Bollywood and South Indian cinema music, as well as iconic Indian catalogs,” said Primary Wave.
The company is thought to be eyeing similar deals in Latin America and elsewhere in Asia: a sign, perhaps, that the next boom in catalogue acquisitions may come from high-potential markets, rather than just the most famous Anglo-American hitmakers.
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