NEW YORK (CelebrityAccess) – Primary Wave Music (Primary Wave), a leading independent publisher of iconic and legendary music worldwide, announced today (April 25) their partnership with leading Indian record label and music publisher Times Music. Times Music is a subsidiary of the Times of India Group, which includes stakes in newspapers, magazines, radio, TV, streaming music, digital platforms, events and out-of-home marketing. The financial terms of the deal were not disclosed.
The partnership will see Primary Wave invest significant capital in Times Music and provide resources for further Indian catalog investments and help accelerate the company’s growth of its regional, film, and non-film music catalogs globally.
Times Music is regarded as a local major in India, with a catalog of India’s best film, pop, regional and spiritual songs and recordings. The company has benefited from an explosion of digital growth in streaming in India. The overall Indian music market grew 35% to $319 million in 2022 and is set for further development in 2023. Times Music is now primed to invest significantly in Bollywood and South Indian cinema music and iconic Indian catalogs.
Primary Wave’s partnership with Times Music is another step in its expansion into international markets, continuing to capture growth for its artists, songwriters, and management clients. This new joint venture (jv) will provide Primary Wave, its roster of artists, and its catalog of music, an opportunity to be introduced to a significant new global market across all platforms, from streaming to live performances and more.
Core to the partnership is both companies’ belief in the increasing globalization of music. Together, they will also invest in catalog opportunities in the Indian market, including film, non-film, regional and other iconic IP, that will then form part of its push to monetize Indian IP in the international markets.
Vineet Jain, Managing Director Times Group, said of the partnership, “Times Music’s strategic partnership with Primary Wave is a proud moment for us at the Times Group. As the company progresses to the next phase of its expansion in the broader entertainment space, we look forward to an exciting future ahead with Larry Mestel and his incredible team at Primary Wave.”
“Music is synonymous with India, and Times Music has built an incredible catalog with amazing global potential,” added Mandar Thakur, COO of Times Music. He says, “Our partnership with Primary Wave will enable us to accelerate our catalog acquisition further, acquire new music and reach worldwide audiences.”
“We are looking forward to working with Mandar and his entire Times Music team, who are among the best in the rapidly growing Indian music business,” says Larry Mestel, CEO and Founder of Primary Wave. He continued, “They have built an extraordinary company utilizing their creativity, tenacity and tremendous marketing skills, and we are honored to be their partners in India.”
