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MBW’s World Leaders is a daily collection during which we flip the highlight towards a number of the most influential trade figures overseeing key worldwide markets. On this function, we communicate to Vinit Thakkar, Managing Director of Sony Music India. World Leaders is supported bySoundExchange.
India’s music trade is experiencing a cultural shift, and Vinit Thakkar helps to orchestrate it.
As Managing Director of Sony Music India since April 2023, Thakkar has overseen a big enlargement of the corporate’s operations over the previous two years, remodeling it from a conventional soundtrack-focused label into an artist providers powerhouse.
Beneath his management, Sony Music India has launched three genre-specific sub-labels: BROWN (business pop), NINE (hip-hop), and Day One (singer-songwriter), which function alongside The Orchard (distributor and artist providers firm), and AWAL India (a service supplier to impartial artists).
The technique displays Thakkar’s perception that India’s high-growth music panorama is maturing past its movie soundtrack roots.
“Indian music listeners are maturing, and we’re starting to see early indicators of style growth throughout the artist-driven music area,” Thakkar tells MBW.
Maybe essentially the most eye-catching venture underneath Thakkar’s tenure has been the launch of W.I.S.H., India’s first lady group in 22 years. Developed in partnership with composer Mikey McCleary’s Bay Music Home, the group embodies what Thakkar calls “Indian at coronary heart, world in attain.”
The gamble seems to be paying off. Inside months of launch, W.I.S.H. has secured partnerships with main manufacturers together with Adidas, Motorola, and Maybelline, whereas constructing what Thakkar describes as a “loyal fanbase” by way of their devoted fan platform.
However W.I.S.H. is only one piece of Sony Music India’s broader transformation.
The corporate has additionally shaped strategic joint ventures with D36 to increase South Asian artists’ attain within the US, and just lately introduced THG India, a collaboration with LA-based The Hey Group targeted on India’s booming stay music sector.
Sony can be strengthening its market place by way of M&A and partnerships with native corporations, a part of a wider world technique. Lower than three weeks in the past, Rob Stringer, the Chairman of Sony Music Group and CEO of Sony Music Leisure, up to date buyers on the music firm’s world efficiency and technique, highlighting Sony’s progress in numerous rising markets, together with India.
“Within the high-growth markets of Latin America, Asia, Japanese Europe and the Center East, all of which have bloomed at double-digit charges within the final three years’ progress, now we have been vigorously focusing on methods to raised place Sony Music,” mentioned Stringer. “In India and Latin America, we’re nonetheless primary in recorded music.”
Thakkar’s strategy displays his perception that sustainable world success for Indian artists requires extra than simply high-profile collaborations; it calls for constructing genuine, long-term manufacturers that first conquer their dwelling market.
“The laborious fact is that for an artist to attain world success, they first have to make a significant influence of their dwelling market,” he explains.
Along with his prediction that India will develop into a High 10 world music market by the tip of this decade, Thakkar believes his technique positions Sony Music India on the forefront of what he sees as an inevitable cultural shift.
Right here, Thakkar discusses Sony Music India, M&A alternatives available in the market, the way forward for Indian popular culture on the worldwide stage, and why the native trade wants to maneuver past ad-supported streaming fashions…
WHAT HAVE BEEN THE BIGGEST SUCCESSES AND CHALLENGES FOR SONY MUSIC INDIA DURING YOUR TWO-YEAR TENURE AS MANAGING DIRECTOR?
The previous two years have been extremely thrilling and rewarding for our firm. Sony Music India continues to remain true to our world dedication of placing the artist first, and now we have made vital modifications to raised serve the artistic neighborhood as our trade evolves.
Our focus has been to construct the proper infrastructure and design an organizational construction with the right combination of expertise to offer an distinctive expertise for India’s artistic neighborhood.
With our sturdy presence within the soundtrack enterprise throughout each Bollywood and regional markets, coupled with our emphasis on making a music enterprise centered across the artists, the final couple of years have been an exhilarating journey.
“We’ve acquired helpful music catalogs, launched new sub-labels, shaped sturdy partnerships by way of joint ventures and laid a strong basis for our artist providers enterprise, which incorporates administration, touring, model options, fan engagement platforms, and merchandising.”
We’ve acquired helpful music catalogs, launched new sub-labels, shaped sturdy partnerships by way of joint ventures and laid a strong basis for our artist providers enterprise, which incorporates administration, touring, model options, fan engagement platforms, and merchandising. I’m extraordinarily pleased with the progress we’ve made.
The Indian music market is at a transformative stage, and we’ve witnessed some key modifications over the previous two years. On the digital streaming entrance, there’s been a consolidation of gamers, together with a powerful push to shift customers from ad-supported tiers to paid subscriptions, whereas each native and world gamers are aggressively investing available in the market.
SONY MUSIC HAS EVOLVED BEYOND A TRADITIONAL LABEL TO OFFER COMPREHENSIVE ARTIST SERVICES. HOW DOES THIS MULTI-TIERED APPROACH BENEFIT ARTISTS IN TODAY’S MARKET?
Past our core label enterprise, we offer a sturdy suite of choices by way of our companions The Orchard, delivering label distribution providers; AWAL, providing a DIY distribution platform for artists; and Sony Music Publishing, which helps the artistry of songwriters and composers. This multi-tiered strategy units us other than numerous the competitors.
We imagine in constructing sturdy, long-term partnerships, and over the previous two years, we’ve established some thrilling strategic collaborations with a number of the most visionary creatives each in India and internationally. These partnerships give attention to elevating Indian and South Asian expertise globally.
“We imagine in constructing sturdy, long-term partnerships.”.
By means of our reference to Bay Music Home, based by the legendary Mikey McCleary, we launched W.I.S.H., India’s first lady band in 22 years, which has garnered an overwhelmingly constructive response each in India and internationally. Our world enterprise with D36 is ready to increase the attain of South Asian artists within the US and assist break South Asian diaspora artists into key markets outdoors of the US.
We just lately introduced Tiger Child Information, a three way partnership with a outstanding Indian movie manufacturing home to launch a document label with the aim of “nurturing rising expertise, fostering artistic storytelling, and constructing connections between artists, audiences, and types.” In brief, our aim is to offer the very best infrastructure and providers, paired with the proper groups, to assist fulfill the artistic imaginative and prescient of the artists we work with.
YOU’VE LAUNCHED SEVERAL SUB-LABELS.. WHAT WAS THE STRATEGY BEHIND CREATING THESE GENRE-SPECIFIC LABELS?
Each endeavor we undertake begins with the query of how we are able to finest contribute to serving to the artistic neighborhood notice their imaginative and prescient.
The Indian music scene has lengthy been dominated by movie soundtracks, and this continues to be the case, as music in movies is deeply embedded in our cultural cloth.
“Indian music listeners are maturing, and we’re starting to see early indicators of style growth throughout the artist-driven music area.”
Nevertheless, it’s actually encouraging to see that over the previous 5 years, artist-focused music has been steadily on the rise. Indian music listeners are maturing, and we’re starting to see early indicators of style growth throughout the artist-driven music area.
With the assistance of knowledge, analytics, and client insights, we had been capable of determine these rising developments early on, and this led to the creation of our sub-label technique.
We launched three native labels: BROWN (business pop), NINE (hip-hop), and Day One (singer-songwriter), alongside AWAL India – Sony Music’s artist DIY distribution platform. Throughout all our labels, the aim is to be an extension of the artist’s core workforce, offering them with artistic enter, advertising and marketing help, distribution providers, and world attain.
I’m extraordinarily pleased with the progress we’ve made with every of those sub-labels, not solely by way of artistic chart success but additionally by signing gifted artists who’re poised to develop into the longer term stars of the worldwide music scene.
COLLABORATIONS BETWEEN INDIAN AND INTERNATIONAL ARTISTS ARE INCREASINGLY COMMON. DO YOU SEE THIS AS A VIABLE PATH TO GLOBAL SUCCESS?
In India right this moment, there’s a big give attention to collaborations between Indian and world artists, which I believe is nice because it helps artists join with new audiences. Nevertheless, it typically looks like a shortcut to world success within the eyes of the artistic neighborhood and labels.
Whereas there have been some notable collaborations over the previous 5 years, I can’t consider any that really propelled an Indian artist to world recognition or success. The laborious fact is that for an artist to attain world success, they first have to make a significant influence of their dwelling market.
That mentioned, we’re not in opposition to collaborations, so long as they’re genuine and pushed by artistic objectives, moderately than simply business motives. At Sony Music India, our aim is to offer artists with entry to each the very best native and world alternatives, serving to them convey their artistic imaginative and prescient to life. We take a extra holistic, long-term strategy, moderately than providing fast fixes.
TELL US ABOUT W.I.S.H. – WHAT WAS THE VISION BEHIND LAUNCHING INDIA’S FIRST GIRL GROUP IN 22 YEARS?
We developed this lady band underneath our strategic partnership with Mikey McCleary from Bay Music Home. Full credit score to Mikey’s artistic imaginative and prescient and executional excellence with W.I.S.H.
Impressed by world pop developments like Okay-pop, W.i.S.H. proudly maintains an genuine Indian identification, mixing Indian influences of their music, trend, and storytelling to create a singular cultural imprint on the worldwide stage.
We’re witnessing a revival of 90s-era pop ensembles and bubblegum pop, which has created the right alternative to launch W.i.S.H. Our mixed imaginative and prescient, together with Mikey, for W.i.S.H. was easy — Indian at coronary heart, world in attain. They mix Hindi, English, and regional languages, draw inspiration from Indian storytelling, and characterize a Gen Z-first presence.
W.i.S.H. embodies the power, type, and digital-first strategy that connects with younger audiences, making them highly effective popular culture icons. The group resonates with Indian youth by difficult girlhood stereotypes and celebrating themes of sisterhood, pleasure, confidence, and self-belief.
And it’s already working. Inside months, they’ve constructed a loyal fanbase and secured partnerships with main manufacturers like Adidas, Motorola, Maybelline, Elf Cosmetics, and Sony Headphones. Moreover, final month we launched the W.i.S.H. fan platform, providing unique content material, stay streams, interactive fan engagement, and merchandise and collectibles. It’s an ecosystem of connection, creativity, and celebration the place followers form the expertise.
FILM SOUNDTRACKS HAVE TRADITIONALLY DOMINATED INDIA’S MUSIC LANDSCAPE. HOW HAS YOUR STRATEGY EVOLVED WITH THE LAUNCH OF THESE NEW POP-FOCUSED LABELS?
In India, movies and cricket are two of essentially the most highly effective forces, virtually like religions. At Sony Music India, movie soundtracks, each Bollywood and regional, have been central to our success. We’re the one music label with sturdy, long-standing relationships with a few of India’s most outstanding movie manufacturing homes, together with Dharma Productions and Maddock Movies.
“Our continued funding and involvement within the Indian soundtrack enterprise stays a core a part of our technique in India.”
These partnerships have constantly produced main hits, demonstrating the huge influence when music and storytelling come collectively. Our collaborations have performed a vital position in shaping India’s music panorama, creating popular culture moments and serving to artists join with mainstream audiences on a big scale.
We even have a sturdy presence within the South Indian markets, with Sony Music main the Tamil market and steadily rising its share within the Telugu and Malayalam markets. Our continued funding and involvement within the Indian soundtrack enterprise stays a core a part of our technique in India. In actual fact, over the previous two years, our focus and releases within the movie soundtrack area have considerably elevated.
HOW DO YOU CUT THROUGH THE NOISE TO MAKE YOUR CONTENT VISIBLE in TODAY’S SATURATED DIGITAL LANDSCAPE?
We take nice satisfaction in being a artistic and forward-thinking firm. On the coronary heart of that is the flexibility to strike the right steadiness between content material, context, and the followers.
“We’re at all times trying to evolve our strategy, refusing to depend on set templates.”
With assistance from knowledge, analytics, and insights into fan habits, our advertising and marketing efforts are targeted on crafting bespoke campaigns for our soundtracks and artist-driven music.
We’re at all times trying to evolve our strategy, refusing to depend on set templates. Our aim is to constantly assume outdoors the field and discover new methods to inform compelling tales.
How central is the South Asian diaspora market to your general technique?
As a world participant, we’re additionally devoted to creating home content material resonate internationally. The diaspora market is a big focus for us, and pushing our music into key world markets is central to our advertising and marketing technique.
Now we have sturdy partnerships throughout the Sony Music ecosystem, significantly in key diaspora areas.
Our dedication is to take Indian artists and content material world, showcasing the facility of Indian music and artistry to the world.
WHAT’S YOUR STRATEGY FOR ACHIEVING GROWTH on the catalog facet of what you are promoting?
Lately, we’ve witnessed a powerful resurgence and success of catalog content material, and in India, we’re main this evolving development. Our advertising and marketing technique for catalog content material has been extremely rewarding.
A current instance of our success is the soundtrack of the Bollywood movie Sanam Teri Kasam. When the movie was re-released in cinemas, our groups labored intently with the manufacturing home to market the music.
For the primary time, a complete catalog soundtrack hit the charts throughout each audio and video platforms, making a cultural second. Our strategy, investments, and technique round catalog are central to our plans.
HOW COMPETITIVE IS THE M&A LANDSCAPE IN INDIA’S MUSIC MARKET CURRENTLY?
Our M&A strategy is guided by a world dedication to raised serve the artistic neighborhood. We’re not solely targeted on accelerating artistic output but additionally on investing in areas that help the broader ecosystem of an artist’s and songwriter’s profession.
“In right this moment’s atmosphere, strategic consolidation is extra helpful than speculative investments.”
In right this moment’s atmosphere, strategic consolidation is extra helpful than speculative investments. We’re prioritizing acquisitions that present operational leverage, increase viewers attain, or improve technological capabilities.
Whereas curiosity in music-related M&A stays sturdy, challenges reminiscent of low common income per person (ARPU) from streaming, a heavy dependence on ad-supported fashions, and modest progress in paid subscriptions proceed to restrict the potential and true worth that catalog acquisitions can ship.
Throughout the trade, there’s a transparent push to construct enterprise fashions that guarantee music is valued on the degree it actually deserves.
WHAT MAJOR SHIFTS DO YOU ANTICIPATE WILL IMPACT THE BROADER SOUTH ASIAN MUSIC INDUSTRY?
We anticipate some vital shifts on each the artistic and financial fronts. Creatively, with the speedy progress of popular culture in India, we imagine music artists will proceed to affect and form the tradition.
“We imagine music artists will proceed to affect and form the tradition.”
Recognizing this modification, we launched a brand new vertical referred to as ‘Artist Technique and Growth’, which affords a complete long-term plan that goes past simply music technique, offering a transparent path for artists to evolve into formidable manufacturers. This has been met with an overwhelmingly constructive response from the artistic neighborhood.
On the financial facet, we anticipate the trade to transition from being predominantly ad-supported to a powerful hybrid mannequin that features paid subscriptions and bundles. By the tip of this decade, we’re assured that India will emerge as one of many High 10 music markets on this planet.
In abstract, we are going to proceed to give attention to an artist-driven, artist-first strategy, coupled with aggressive investments in home language content material. We’re dedicated to shaping the way forward for the music enterprise in India, guaranteeing we proceed to serve the artistic neighborhood.
IF YOU COULD CHANGE ONE THING ABOUT THE MUSIC BUSINESS IN INDIA OR GLOBALLY, WHAT WOULD IT BE AND WHY?
One key change we hope to see is a sooner transition in India from an ad-supported to a paid subscription mannequin. This shift would assist set up a extra steady basis, benefiting all stakeholders — artists, labels, and platforms alike.
Past creating larger worth for the trade, it will additionally foster elevated innovation, appeal to funding, and drive long-term progress — positioning India as a real world chief in music.
SoundExchange was independently shaped in 2003 to construct a fairer, easier, and extra environment friendly music trade by way of expertise, knowledge, and advocacy. The one group designated by the U.S. authorities to manage the Part 114 sound recording license, SoundExchange collects and distributes digital efficiency royalties on behalf of 700,000 music creators and rising.
