JetSynthesys becomes official India cohort for Warner Music Group
Entertainment conglomerate Warner Music Group (WMG) has signed a partnership with Mumbai-based digital entertainment and technology firm JetSynthesys making the latter the official India partner for WMG for all things related to music label licensing and acquisition, artist management, event management, mobile gaming, esports and original content creation across music, short videos and films.
JetSynthesys said it would invest Rs 200 crore in the Indian entertainment segment over the next three years to cement its position in the industry.
WMG pegs the Indian entertainment industry to have been valued at around Rs 15 billion in 2020 and estimates it to reach 23 billion by 2023.
Warner Music Group made its official foray into India previous year and this partnership allows them to get the high-growth areas like gaming and esports into their fold.
“JetSynthesys has shown remarkable growth in the last few years, especially in gaming and esports and digital products and platforms. They have a keen understanding of the Indian market, also bringing incredible creativity and technical proficiency to the table, and we couldn’t have asked for a better partner to strengthen our foray into the country,” Perez-Soto Alfonso Javier, president emerging markets, Warner Music Group stated.
Rajan Navani, vice-chairman & managing director, JetSynthesys, stated: “With a strong pulse over the changing consumer preferences and behaviour when it comes to entertainment, together we aim to strengthen the ecosystem and contribute to the proliferating industry by catering to the rising demand for newer entertainment avenues.”
JetSynthesys is known for its global partnerships with the likes of WWE, Square Enix and Hollywood film Passengers and Floyd Mayweather. It also claims to be the #1 skill-based cricket gaming franchise in the world with 120 Mn+ downloads and 1.2 crore+ monthly active users. The firm also lately acquired Chennai-based Skyesports to form Jet Skyesports Gaming.