MUMBAI: Saregama India and Timbre Media have inked a strategic alliance under which Saregama has acquired a 10% equity stake in the company.
The two companies will partner to provide a high-quality and variety of genre-based radio channels to the Indian market. With this, the Saregama India-Timbre Media alliance brings back WORLDSPACE radio in India. Plans are to use content from Saregama’s library as well as from other labels to provide 24-hour stations of Indian music ranging from old Hindi films, Hindustani classical, Carnatic classical, new Hindi music, ghazals and stations in all major Indian languages.
Saregama India and Timbre Media plan to leverage the distribution network of Saregama and the Timbre Media-developed channels to target the digital domains of mobile, Internet and Direct-to-Home television services.
Saregama India business head – music Adarsh Gupta said, “This is a very logical alliance for Saregama as it takes us to the next stage in the value chain with our content. We believe that there is still a very loyal customer base that appreciates the quality that the Timbre team provided previously on WORLDSPACE. Through this alliance we will endeavour to bring the same quality and serve this product in all possible digital formats including Mobile, DTH and the Internet.”
Saregama India managing director Apurv Nagpal added, “It is a significant step forward for Saregama into the digital domain and we believe that together, we will bring back the customer delight for evolved radio listening through this strategic alliance.”
Timbre Media co-founder and CEO M. Sebastian said, “We’re poised to take the big step now. Since early 2010 we have established the critical infrastructure needed for high quality services, including new studio facilities in Mumbai and Bangalore, We have been steadily building partnerships and clientele in the radio and music industry and Saregama of course, needs no introduction – its history is the history of recorded music in our nation. The partnership with Saregama provides a tremendous boost to our ability to package and distribute quality music content and with them on our side we believe that we are in a strong position to reach a very broad audience and grow rapidly.”