Create Music Group enters India; acquires Nirvana Digital

By: |
November 03, 2021 9:53 AM

The global music and media company plans to invest $50 million over the next few years in India as a part of its global expansion

Nirvana Digital serves over 20 billion minutes of video each month and has a subscriber base north of 200 million.Nirvana Digital serves over 20 billion minutes of video each month and has a subscriber base north of 200 million.

Music and media company Create Music Group has acquired Nirvana Digital with an aim to expand their global footprint. The company has acquired a 100% stake in Nirvana Digital to strengthen its offerings to a larger and wider audience, worldwide. As part of the acquisition, Nirvana Digital’s co-founders Manu Kaushish and Pinakin Thakkar have been named president, Create Music Group India and chief operating officer, Create Music Group India, respectively. India is without a doubt one of the most exciting growth territories in the global music and media market, Jonathan Strauss, founder and CEO, Create Music Group, said. “We’ve been looking for the right way to build our business in India for some time now, and after being introduced to the Nirvana Digital’s co-founders and seeing the parallels between our two companies, we felt the right move was to acquire them and supercharge our entry into India with one of its most forward-thinking new media companies,” he added. Together, the two companies now exceed 25 billion streams per month, making Create one of the world’s largest media companies by viewership.

This is the first of a planned $50 million investment Create Music Group is making in India and the broader region in Asia over the next few years. The market potential for online music and media in India is more than 50% of India’s 1.3 billion population is under the age of 25 and more than 94% of online consumers in India listen to music. As wireless coverage and data consumption become more prevalent, those metrics are set to grow even more.

For Manu Kaushish, co-founder, Nirvana Digital, Create works with the most recognizable artists and record labels in the world. “Create’s relationships, technology and capital will help us fuel growth for Indian artists and record labels who will gain access to a global distribution and monetization on major platforms including iTunes, Spotify, Amazon Music as well as Indian platforms like JioSaavn and Gaana,” he explained.

According to Pinakin Thakkar, co-founder, Nirvana Digital, the deal opens the doors for Create’s US clients to access India’s market of nearly 700 million young people and bring Create’s globally recognised brands including Flighthouse, which is the most followed creator channel on TikTok, to India.

Nirvana Digital serves over 20 billion minutes of video each month and has a subscriber base north of 200 million. It provides monetisation, distribution and rights management services to artists, labels, film and television and other content owners including one of the largest Spiritual Organizations in the world – The Art of Living, Rap/Hip Hop superstar – Bohemia and Regional Music Powerhouses – Vats Records and Team Films.

Established in 2015, Create Music Group, is a data-driven media and technology company focused on empowering artists and creators. It handles the content and monetisation strategies for some of the biggest artists and record labels in the world including J Lo, Deadmau5 and Tory Lanez. Create’s technology platforms are utilised on the enterprise level by major record label groups, and they have built a powerful advertising platform that leverages the billions of streams they manage each month on YouTube for a wide variety of global brands. Additionally, the company has made substantial investments in content properties on platforms such as Instagram and TikTok, where they own the largest non-influencer brand, Flighthouse which has more than 28 million followers.

Read Also: From Tring to TrueFan’ celebrity fan engagement sector see a spurt in platforms

Follow us on TwitterInstagramLinkedIn, Facebook 

 

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

BrandWagon is now on Telegram. Click here to join our channel and stay updated with the latest brand news and updates.

Next Stories
1Parag Agrawal of Indian origin replaces Jack Dorsey as Twitter CEO
2Twitter CEO Jack Dorsey stepping down; Twitter share price jumps over 10% after CNBC report
3CRED rolls out latest film featuring Chacha Chaudhary and Suppandi