Warner Music India Acquires Stake in SkillBox, Expanding Live Entertainment Portfolio
Mumbai, [Date] - Warner Music India, a division of the global entertainment giant Warner Music Group, has announced a strategic minority investment in SkillBox, marking its foray into the live entertainment sector in India. This investment positions Warner Music India as a key player alongside major ticketing giants like BookMyShow and Insider.
SkillBox, established by Anmol Kukreja and Sandip Ranjhan, and later joined by Roydon Bangera and Amarjeet Singha, has evolved from a simple ticketing platform to a comprehensive live entertainment entity. The company not only handles ticketing but also offers live brand solutions and tech services like SkillBox Pay. It is renowned for organizing high-profile international and domestic events, including the Jacob Collier India Tour, Steve Vai India Tour, and local acts like DIVINE’s post-pandemic performances.
The undisclosed transaction aims to leverage SkillBox's innovative approach to live entertainment, aligning with Warner Music India’s vision to be an artist-first, fan-first company. Jay Mehta, Managing Director of Warner Music India & SAARC, stated, "This partnership blends perfectly with our aim to provide comprehensive services to artists. Live entertainment is set to grow rapidly, and together, we can unlock dynamic new opportunities in this vibrant market."
The investment is part of Warner Music India's broader strategy to lead in the entertainment sector, following previous collaborations with companies like Divo, JetSynthesys, and E-Positive. Alfonso Perez Soto, Executive Vice President of Warner Music Group, noted, "India's live music scene has vast untapped potential. This investment allows us to offer seamless services to both domestic and international artists, connecting them with fans nationwide."
SkillBox's founders expressed enthusiasm about the partnership. Anmol Kukreja, CEO, said, "Partnering with Warner Music India is a significant milestone. With their expertise and global reach, we aim to redefine live music experiences in India." Roydon Bangera, Chief Business Officer at SkillBox, added, "This collaboration will usher in a new era for India’s live entertainment, enhancing connections between artists and fans."
This move by Warner Music India reflects a growing trend of companies enhancing their live entertainment offerings in India, following Zomato’s recent acquisition of Paytm's ticketing platforms for $244.2 million in August 2024, signaling a competitive expansion in the market traditionally led by BookMyShow.