Warner Music has made a strategic minority investment in SkillBox, a live entertainment and ticketing platform based in India.
The deal arrives just a couple of weeks after India’s Economic Times reported, citing an interview with WMG CEO Robert Kyncl, that the company is actively seeking M&A opportunities in India.
Warner’s recent M&A activity in the market includes a strategic investment in JetSynthesys’ Global Music Junction in April. The news outlet (ET) reported that WMG took a 26% stake in Music Junction as part of the deal.
The company also acquired India-based artist management and live events company E-Positive in October 2023, and bought a majority stake in digital media and music company Divo in February last year.
“We’re already doing great in India, but it can be a much bigger part of our story,” Kyncl was quoted by ET as saying last month.
The global music industry is becoming increasingly focused on India and it’s not hard to see why. According to Datareportal, there were 751.5 million internet users in India at the start of 2024 – nearly double that of the USA, where 97% of the country’s population are active online. India’s total internet user base at the start of the year only accounted for 52.4% of its total population size, which was 1.44 billion in January 2024.
According to stats published by Luminate in January, the market saw the biggest YoY increase in total annual on-demand music streams of any nation last year.
As MBW reported at the time, if annual streaming volume growth in the US slows in 2024, as many expect it will – but India manages to sustain its 2023 YoY streaming growth margin this year – India could become the world’s largest music streaming territory by volume in 2024.
Founded by Anmol Kukreja and Sandip Ranjhan, with Roydon Bangera and Amarjeet Singha joining as part of the founding team, SkillBox began as a ticketing platform and expanded into a full-suite live entertainment company with ticketing, live brand solutions, and live tech services such as Skillbox Pay.
According to Warner, with its focus on “curating niche community-led events and experiences”, SkillBox has worked on artist tours such as Jacob Collier, Steve Vai, Ben Howard, Karnivool, The Midnight, DIVINE, Hanumankind and more, as well as creating live events IP like Bloomverse, K-Wave, Lemonade, and LiveBox.
The SkillBox platform counts over 1.5 million users.
SkillBox has also expanded into artist management through its dedicated management arm, LevelHouse, which manages prominent India-based artists such as Parvaaz, Blackstratblues, Raman Negi, JBABE & Parekh & Singh
According to Warner, by integrating live events and ticketing into its portfolio, Warner Music India “will offer its artists the ability to reach wider audiences, while fans will benefit from streamlined, unforgettable live music experiences”.
“Investing in SkillBox, which is a ticketing, live events, and artist management company, blends perfectly with Warner Music India’s aim of being an artist-first, fan-first company.”
Jay Mehta, Warner Music India & SAARC
Jay Mehta, Managing Director, Warner Music India & SAARC, commented on the partnership: “Investing in SkillBox, which is a ticketing, live events, and artist management company, blends perfectly with Warner Music India’s aim of being an artist-first, fan-first company.
“SkillBox’s innovative approach to live entertainment aligns exactly with our vision of providing comprehensive services to artists. Live entertainment is slated to grow rapidly.
“By joining forces, we can create dynamic new opportunities in India’s fast-growing entertainment market, ensuring that our artists have the best platforms to thrive.”
“We see huge opportunities in India’s still nascent live entertainment industry.”
Alfonso Perez Soto, Warner Music
Alfonso Perez Soto, President, Emerging Markets, Warner Music, added: “We see huge opportunities in India’s still nascent live entertainment industry.
“Our investment in SkillBox enables us to expand the services that we can seamlessly offer artists, both domestic and international, connecting them with fans across India. We’re eager to leverage SkillBox’s expertise in this space and tap into this high-growth market.”
Today’s announcement follows Warner Music India’s strategic investments in and partnerships with the likes of Divo, E-Positive, and JetSynthesys, reinforcing its position as a leading force in India’s entertainment sector.
“We are thrilled to partner with Warner Music India as it marks a significant milestone in SkillBox’s journey.”
Anmol Kukreja, SkillBox
Anmol Kukreja, CEO & Founder, SkillBox, said: “We are thrilled to partner with Warner Music India as it marks a significant milestone in SkillBox’s journey.
“This collaboration aligns with our mission to redefine live entertainment and provide unparalleled experiences to both artists and fans. With Warner Music’s extensive industry expertise, artist roster and global reach, we aim to push the boundaries of what’s possible in the live music space, creating more opportunities for artists and delivering memorable events for audiences across the country.”
“We’re excited to partner with Warner Music to foster a dynamic ecosystem for live music in India. Our common goal is to shape an artist’s first music industry.”
Roydon Bangera, SkillBox
Roydon Bangera, Chief Business Office, SkillBox, added: “We’re excited to partner with Warner Music to foster a dynamic ecosystem for live music in India. Our common goal is to shape an artist’s first music industry.
“By leveraging our expertise in music IPs, live and branded experiences we want to create more opportunities for artists and fans to connect at a deeper level. This partnership sets the stage for a new era in India’s live entertainment landscape.”Music Business Worldwide