Warner Music India Makes Strategic Investment in SkillBox
Mumbai: Warner Music India, a division of the global entertainment conglomerate Warner Music Group, has announced a strategic minority investment in SkillBox, India's third-largest ticketing and live entertainment company, following giants BookMyShow and Insider. This investment marks Warner Music India's debut into the live entertainment sector, aiming to broaden its service portfolio and enhance opportunities for its artists.
The financial specifics of the deal remain undisclosed, but this partnership positions Warner Music India to tap into the burgeoning live entertainment market in India.
SkillBox, founded by Anmol Kukreja and Sandip Ranjhan, and later joined by co-founders Roydon Bangera and Amarjeet Singha, has evolved from a simple ticketing platform into a comprehensive live entertainment provider. The company has been behind notable events like the Jacob Collier India Tour, Steve Vai India Tour, and the Ben Howard Tour, alongside domestic successes such as DIVINE’s post-pandemic shows and Hanumankind’s tour. SkillBox also boasts proprietary events like Bloomverse, K-Wave, and Lemonade, focusing on niche, community-led experiences.
A Strategic Leap for Warner Music India
Jay Mehta, Managing Director of Warner Music India & SAARC, expressed enthusiasm about the synergy between Warner Music’s vision and SkillBox’s innovative approach. "Our investment in SkillBox aligns perfectly with our commitment to being an artist-first, fan-first company. This partnership will help us cater to the rapidly growing live entertainment sector in India," Mehta stated.
Alfonso Perez Soto, Executive Vice-President of Recorded Music at Warner Music Group, highlighted the potential in India's live music scene, stating, "This investment allows us to offer a broader range of services to artists, connecting them with fans across the nation."
Looking Forward
Anmol Kukreja, CEO and Founder of SkillBox, sees this collaboration as a pivotal moment. "Partnering with Warner Music India is a significant milestone for us. Their global reach and industry expertise will help us push the boundaries of what's possible in live entertainment," Kukreja remarked.
Roydon Bangera, Chief Business Officer at SkillBox, added, "This partnership will usher in a new era for India's live entertainment, creating meaningful connections between artists and fans."
The move by Warner Music India comes at a time when the live entertainment sector in India is witnessing increased interest from major players. Earlier in August 2024, Zomato made headlines with its acquisition of Paytm's ticketing businesses for $244.2 million, signaling a competitive landscape in an industry dominated by BookMyShow.
This strategic investment by Warner Music India in SkillBox not only expands its footprint in the Indian market but also promises to elevate the live entertainment experience for both artists and fans alike.