US Based Create Music Group Acquires Mumbai Based Nirvana Digital to Enters India
Create Music Group, a music and media company has secured a 100 % ownership in Mumbai-based Digital Company, Nirvana.
The move represents the company's first foray into the Indian market. The firms stated in a joint statement that the move is intended at bolstering Create’s worldwide reach.
The Mumbai-based start-up, which was founded in 2010 by Manu Kaushish, Pinakin Thakkar, and Rajendra Jamnadas Thakkar, enables content owners to monetize their music and video across the internet and mobile platforms, such as YouTube, Dailymotion, Spotify , NetfliX, Apple iTunes, HULU and Amazon others.
Nirvana claims to deliver over 20 billion minutes of video each month and has over 200 million subscribers.
Manu Kaushish and Pinakin Thakkar, cofounders of Nirvana Digital, have been named President and Chief Operating Officer of Create Music Group India, respectively, as part of that deal.
Manu Kaushish, co-founder of Nirvana Digital, said, “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 monetisation on major platforms including iTunes, Spotify, Amazon Music as well as Indian platforms like JioSaavn and Gaana”.
The two firms now generate over 25 billion streams each month when they operate together.
The deal is the first of a $50 million investment by Create Music Group in India and the Asia-Pacific area over the next five years.
The market potential for online music and media in India, according to the statement, is enormous. More than half of India's 1.3 billion people are under the age of 25, and more than 94 % Indian customers listen to music. Those measurements will expand even more as cellphone coverage and internet use become more common.
Create Music Group, founded in 2015, is a data-driven media and technology firm dedicated to empowering artists and innovators. Some of the world's most well-known musicians and record labels, like J Lo, Deadmau5 and Tory Lanez, entrust it with their content and monetization methods.
It has also invested in content assets on platforms such as TikTok and Instagram, where it has a big non-influencer brand, Flighthouse, with over 28 million followers.
The move represents the company's first foray into the Indian market. The firms stated in a joint statement that the move is intended at bolstering Create’s worldwide reach.
The Mumbai-based start-up, which was founded in 2010 by Manu Kaushish, Pinakin Thakkar, and Rajendra Jamnadas Thakkar, enables content owners to monetize their music and video across the internet and mobile platforms, such as YouTube, Dailymotion, Spotify , NetfliX, Apple iTunes, HULU and Amazon others.
Nirvana claims to deliver over 20 billion minutes of video each month and has over 200 million subscribers.
Manu Kaushish and Pinakin Thakkar, cofounders of Nirvana Digital, have been named President and Chief Operating Officer of Create Music Group India, respectively, as part of that deal.
Manu Kaushish, co-founder of Nirvana Digital, said, “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 monetisation on major platforms including iTunes, Spotify, Amazon Music as well as Indian platforms like JioSaavn and Gaana”.
The two firms now generate over 25 billion streams each month when they operate together.
The deal is the first of a $50 million investment by Create Music Group in India and the Asia-Pacific area over the next five years.
The market potential for online music and media in India, according to the statement, is enormous. More than half of India's 1.3 billion people are under the age of 25, and more than 94 % Indian customers listen to music. Those measurements will expand even more as cellphone coverage and internet use become more common.
Create Music Group, founded in 2015, is a data-driven media and technology firm dedicated to empowering artists and innovators. Some of the world's most well-known musicians and record labels, like J Lo, Deadmau5 and Tory Lanez, entrust it with their content and monetization methods.
It has also invested in content assets on platforms such as TikTok and Instagram, where it has a big non-influencer brand, Flighthouse, with over 28 million followers.
