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Sony Music to manage Zee Music’s digital assets globally sans YouTube

Sony Music Entertainment India has signed a strategic worldwide deal to manage the digital assets (except YouTube) of all Bollywood releases from Zee Entertainment Enterprises Ltd's recently launched music label Zee Music Company (ZMC). As per the deal, Sony Music will have access to all of Zee Music's upcoming Bollywood releases including Holiday, Bang Bang, Bombay Velvet, Humshakal, Hawa Hawaii, Guddu Rangeela and Traffic among others. The company had earlier stated plans to acquire music rights of over 20 major motion pictures in this financial year. Sony Music India marketing director Sanujeet Bhujabal has told Radioandmusic that Sony Music will initially manage the digital assets and radio rights of Akshay Kumar’s upcoming movie Holiday and seven other movie soundtracks. It will also be responsible for monetising these assets across various video sharing sites like Vuclip, Dailymotion and Yahoo among others. On the revenue front, Bhujabal mentions that the deal is based…

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