Warner Music India Enters Live Entertainment with Investment in SkillBox
Mumbai, August 2024 - Warner Music India, a division of the global entertainment conglomerate Warner Music Group, has announced a strategic minority investment in SkillBox, marking its debut in the live entertainment industry. This investment positions Warner Music India as a key player in the burgeoning sector, alongside giants like BookMyShow and Insider.
SkillBox, founded by Anmol Kukreja and Sandip Ranjhan, along with co-founders Roydon Bangera and Amarjeet Singha, has evolved from a mere ticketing service to a comprehensive live entertainment provider. The company now offers a range of services including ticketing, live brand solutions, and live tech services under the banner of SkillBox Pay.
The firm has a notable track record in hosting international acts such as Jacob Collier, Steve Vai, and Ben Howard, and has been pivotal in the resurgence of domestic artists post the global health crisis, with events like DIVINE’s first shows after the lockdown and tours by Hanumankind and Karnivool. SkillBox has also cultivated unique community-driven events like Bloomverse, K-Wave, and Lemonade.
Jay Mehta, Managing Director of Warner Music India & SAARC, stated, "This investment aligns with our vision to be an artist-first, fan-first company. SkillBox's approach to live entertainment perfectly complements our goals, enhancing our ability to offer comprehensive services to our artists."
Alfonso Perez Soto, Executive Vice-President of Recorded Music Corporate Development at Warner Music Group, commented on the potential of India's live music scene, "India's live entertainment industry is still in its early stages, offering vast opportunities. Our investment in SkillBox will allow us to provide more seamless services to both domestic and international artists, helping them connect with fans across India."
The partnership is seen as a significant step by SkillBox's founders. Anmol Kukreja, CEO of SkillBox, expressed enthusiasm about the collaboration, "This partnership with Warner Music India is a milestone for us. It opens up new avenues in the live music space, enhancing opportunities for artists and delivering exceptional experiences for audiences."
Roydon Bangera, Chief Business Officer at SkillBox, added, "This collaboration heralds a new era for India's live entertainment. We are poised to leverage our expertise to create more meaningful connections between artists and fans."
This move by Warner Music India is part of a larger trend where companies are expanding their live entertainment offerings. Just recently, Zomato acquired Paytm's movie and event ticketing businesses for $244.2 million, signaling a growing interest in this dynamic sector.
The investment details remain undisclosed, but the strategic alignment promises to unlock new growth avenues in India's vibrant entertainment market.