Warner Music India Invests in SkillBox, Eyes Expansion in Live Entertainment Market
Mumbai, 10 August 2024 - Warner Music India, a division of the global entertainment conglomerate Warner Music Group, has strategically invested in SkillBox, positioning itself as a significant player in India's burgeoning live entertainment sector. This investment, while the specifics remain undisclosed, marks Warner Music India's venture into live entertainment, enhancing its offerings and opportunities for its artists.
SkillBox, founded by Anmol Kukreja and Sandip Ranjhan, alongside co-founders Roydon Bangera and Amarjeet Singha, has evolved from a simple ticketing service into a comprehensive live entertainment entity. The company is celebrated for its diverse portfolio, including hosting major international acts like Jacob Collier and Steve Vai, and domestic successes such as rapper DIVINE's first post-COVID shows.
The partnership aims to leverage SkillBox's innovative approach to live events, aligning with Warner Music India's artist-first, fan-first strategy. Jay Mehta, Managing Director of Warner Music India & SAARC, commented, “This investment allows us to create dynamic new opportunities in India’s fast-growing entertainment market, ensuring our artists have the best platforms to thrive.”
Alfonso Perez Soto, Executive Vice President of Recorded Music and Corporate Development at Warner Music Group, emphasized the potential of India's live music scene, stating, "Our investment in SkillBox enables us to expand our services for both domestic and international artists, connecting them with fans across India."
Anmol Kukreja, CEO and Founder of SkillBox, expressed enthusiasm about the partnership, saying, “With Warner Music's extensive industry expertise, we aim to push the boundaries of what's possible in the live music space, creating more opportunities for artists and delivering memorable events for audiences.”
This move by Warner Music India comes in a context where other companies are also ramping up their presence in the live entertainment and ticketing sectors. Notably, Zomato's recent acquisition of Paytm's ticketing platforms for $244.2 million highlights the increasing focus on this lucrative market, challenging the dominance of established players like BookMyShow.
The collaboration between Warner Music India and SkillBox is poised to set a new benchmark in the Indian entertainment industry, promising a richer, more connected experience for artists and fans alike.