Khaitan & Co Advised Warner Music Group On Investment In Global Music Junction
Khaitan & Co Advised Warner Music Group On Investment In Global Music Junction
Khaitan & Co has advised Warner Music Group (India) on a strategic investment deal between Warner Music Group (India) and Global Music Junction India, the flourishing music and entertainment subsidiary of JetSynthesys. Under the terms of this agreement, Warner Music India has significantly expanded its partnership with Global Music Junction (GMJ), a venture that initially commenced with a distribution deal in 2021.
This latest development marks a significant milestone as Warner Music makes a strategic investment in GMJ, thereby securing a coveted seat on its board. The move is poised to solidify Warner Music India's position as a key player within the central Indian music market.
GMJ has emerged as a dominant force in various regional language markets, notably Bhojpuri, Kannada, Gujarati, Haryanvi, and Oriya. Notably, it has experienced remarkable growth in the Haryanvi and Oriya language markets, both of which are witnessing exponential expansion. Bhojpuri, in particular, stands out as the fastest-growing language in India, making Warner Music the largest player in this burgeoning music market.
GMJ's commitment to empowering artists and labels is evident through its diverse range of services, including content creation, events management, innovative distribution channels, marketing solutions, technical analytics, and legal expertise. The company has established a robust ecosystem comprising over 100 partners, serving a staggering 250 million subscribers and delivering more than 100 billion minutes of entertainment annually through over 130,000 pieces of audio-visual music content.
The deal, spearheaded by Khaitan & Co, was led by a team comprising Bhavik Narsana, Shweta Dwivedi, and Nishant Sharma led the transaction, Tanu Banerjee provided expertise in media-related matters, Nishad Nadkarni handled intellectual property aspects, and Deepak Kumar navigated employment-related considerations. This comprehensive approach showcased Khaitan & Co's dedication to facilitating impactful transactions within the entertainment industry.
