wordpress blog stats
Connect with us

Hi, what are you looking for?

Sony acquires 26% stake in Infibeam’s INDENT

InfibeamSony Music Entertainment has acquired a 26% stake in Infibeam Digital Entertainment (INDENT), according to a report in Business Today. Infibeam will continue to hold a majority stake in the venture.

The companies did not quote an amount for the transaction. Infibeam said it will invest Rs 100 crore into INDENT over the next three years.

INDENT is a technology platform for music labels, brands and smartphone manufacturers holding rights to content. They can monetize content by distributing the digital and physical content under their own brand name, and allows billing and payment gateways to users. When INDENT launched in 2012, it has partnered with Sony Music Entertainment to offer their services together.

According to the report, INDENT will continue to develop applications for many large labels and brands with integrated telco billing, original equipment manufacturer bundling and social platforms. Medianama has contacted Infibeam to find out what applications they have developed, and for whom.

The music business is a tricky market to be in today – the mobile ecosystem is evolving and music consumption models are changing. To deal with this, music businesses should come out with models that work for the artists too. While Dhingana and Flyte shut down, OML, HungamaSaavn and Gaana are dealing with the new challenges. Telcos like Vodafone are also providing music streaming and downloading services.

Earlier in April, Sony Music Entertainment India had 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. Last year, Saregama had also inked a worldwide licensing agreement to license its physical business to the Home Entertainment Services division of Sony DADC (Sony Digital Audio Disc Corporation) in order to focus on digital music sales

Advertisement. Scroll to continue reading.

You May Also Like

News

Key Takeaways Music licensing revenue has grown to record heights, and is likely to keep growing, as it is directly proportionate to growth in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ