Mumbai: Reliance ADAG’s BIG Music has acquired a Kolkata-based music company Prime Music, which is owned by singer Indranil Sen.
BIG Music will market and distribute the entire music catalogue of the company. Prime Music will also create 12 new albums, which will be marketed and distributed by BIG Music. The acquisition is said to be struck in the range of Rs 20 million (Rs 2 crores).
Prime Music was formed in 1992 and currently holds 15 per cent market share in Bengali music. The company excels mostly in non-film artist based music. It specializes in Tagore Sangeet, Nazrul Sangeet and Adhunik Sangeet. Some artists already signed with Prime include Lota Mudra, Indranil Sen, Srobani Sen, and Shrikanto Acharya amongst others.
Speaking to Businessofcinema.com on the same, BIG Music and Home Entertainment CEO Kulmeet Makkar said, "With the acquisition of Prime Music we are looking at repackaging and recompiling 25 of its old albums to release them in October. We will also be uploading the catalogues on radio and mobile platforms."
"We are also interested in acquiring and exploiting digital rights of Bhangra, Tamil and Telugu music and are in talks with few companies," added Makkar.