Joint-Venture to Globally Promote Indian Pop Talent
MUMBAI / December 10, 2008 –– Universal Music Group (UMG), the world’s leading music company, has joined forces with Eros International, the leading integrated studio in India’s media and entertainment industry, to launch a joint-venture artist-management agency to groom and promote Indian pop talent locally and globally.
The agreement was announced today by Kishore Lulla, Chairman & CEO, Eros International, and Max Hole, President, Universal Music Asia Pacific Region, and Executive Vice President, Universal Music Group International (UMGI).
The joint venture was officiated with a contractual signing on November 18, and came into immediate effect. Rajat Kakar, Managing Director of Universal Music India, has been appointed the inaugural Chairman of the JV. Sunil Lulla, President, India, of Eros International, and Jyoti Deshpande, COO of Eros International Group, are on the JV’s Board of Directors. The launch phase will focus on marketing and promotional initiatives for new, undiscovered pop acts from around India. This agreement is the first of its kind for UMG in both India and the South East Asia region.
Established in 1977, Eros International operates a strategic Indian-film business that covers Global Distribution, Motion Pictures, Music, Home Entertainment, e-Television, New Media and Animation. With offices in more than 50 countries, Eros releases up to 50 new films annually and exploits a 1,900-title film library, making it one of the largest content owners in the business.
Universal Music Group is the world’s leading music company with wholly owned record operations or licensees in 77 countries. Its company in India is headquartered in Mumbai. The partnership with Eros will ensure that fresh new artists will be signed and promoted throughout the country as well as internationally. With access to UMG’s artist-management expertise, they will also be provided with exciting opportunities to develop their talent and be exposed to new, wide-reaching promotional avenues.
Max Hole said: “Eros is an incredibly exciting and ambitious company. Combining the creative ideas and marketing skills of Eros and Universal Music will certainly give a huge boost to Indian music and artist development.”
Added Kishore Lulla: “Music and films are naturally intertwined, so the synergy is unmistakable. As we continue to expand our film slate, we are constantly searching for new talent. Our tie-up with Universal, and their expertise in pop music talent management, is perfectly complimentary with Eros’ ability to offer a credible platform for such talent through its films or worldwide distribution network. The possibilities for Indian and international collaborations are very exciting.”
Rajat Kakar commented: “Indian music today is at a very interesting juncture, influenced by global trends and distributed via new avenues. We are excited at the prospect of pioneering India’s first-ever 360° talent management entity aimed at creating musical icons that appeal to millions of Indians, with the potential of appealing to global audiences as well.”
About Universal Music Group
Universal Music Group is the world's leading music company with wholly owned record operations or licensees in 77 countries. Its businesses also include Universal Music Publishing Group, the industry's leading global music publishing operation.
Universal Music Group's record labels include A&M/Octone, Decca, Deutsche Grammophon, Disa, Emarcy, Fonovisa, Interscope Geffen A&M Records, Island Def Jam Music Group, Lost Highway Records, Machete Music, MCA Nashville, Mercury Nashville, Mercury Records, Philips, Polydor Records, Universal Motown Republic Group, Universal Music Latino, Universal Records South and Verve Music Group as well as a multitude of record labels owned or distributed by its record company subsidiaries around the world. The Universal Music Group owns the most extensive catalogue of music in the industry, which includes the last 100 years of the world's most popular artists and their recordings. UMG's catalog is marketed through two distinct divisions, Universal Music Enterprises (in the U.S.) and Universal Strategic Marketing (outside the U.S.). Universal Music Group also includes eLabs, its new media and technologies division; Bravado, its merchandising company; Twenty-First Artists, its full service management division; and Helter Skelter, its live music agency.
Universal Music Group is a unit of Vivendi, a global media and communications company.
About Eros International plc
Eros International is a leading integrated studio in the rapidly growing Indian media and entertainment sector, involved in the production, acquisition and distribution of filmed entertainment content across current and emerging formats including cinemas, home entertainment, television and new media.
Established in 1977 with a vision to become the gateway for Indian content worldwide and Hollywood content in India, Eros has over three decades of market leadership in creating a global platform for Indian cinema. Strong globally recognised brand, extensive distribution network and an unrivalled library of over 1,900 films render Eros a steadfast market positioning today. In 2006 Eros became the first Indian media company to get listed on AIM, LSE. Eros operates in 5 continents and over 50 countries with diversified assets and worldwide offices throughout India, the United Kingdom, USA, UAE, Singapore, Australia, Fiji and the Isle of Man.
