Airtel on Thursday launched Wynk Studio, a music distribution ecosystem for independent artistes, as part of its music and podcast streaming app Wynk. The studio enables artistes to launch and partner in monetising their music on a host of platforms.
With the creator economy for music at a nascent stage but poised to grow significantly, Adarsh Nair, CEO, Airtel Digital, stressed on how Wynk Studio is built as a distribution platform for premium music creators to pursue their passion and earn an income at the same time. “It is a platform of discovery for premium music,” Nair told FE.
He is optimistic of attracting talent from across the world and scale the platform to 5,000 artistes by next year. Wynk has earmarked Rs 100 crore to promote the platform.
“Airtel’s experience in music streaming, ability to achieve scale, and longstanding relationship with over 350 million customers will ensure that all stakeholders in the industry have an equal and rewarding journey,” he said.
Analysing the online music scenario, the brand last year selected a limited number of artistes to promote their music on Wynk Studio. It has introduced 130 artistes on its platform from India, Singapore and the US in the past one year.
The Indian music industry is at an inflection point, with Indians on average spending about 21 hours per week listening to music as against a global average of 18 hours, Nair said. “Almost 30% of the top performing songs across any music platform in India today are from independent artistes, and these artistes are all set to drive growth of the industry,” he said.
The next phase for Wynk Studio is to announce competitions among artistes and groom the next set of content creators. “The biggest challenge the pandemic created was loss of jobs, so most artistes had to connect digitally with fans. We had in the past launched and hosted over 30 digital concerts, and plan to continue this,” he added.
Introduction of 5G and Web 3 will ensure better sound quality for streaming and creating music from any location with improved bandwidth and introducing more streams of monetisation for artistes. “This could be the next phase, but first we plan to create an artistes’ economy,” said Nair.