US music and media company Create Music Group has acquired Mumbai-based Nirvana Digital, described as one of the largest YouTube Enterprise partners in India.
Although the terms of the deal were not disclosed, Create says it is the first of a planned $ 50 million investment the company will make in India and the Asian region over the next few years. years.
Nirvana Digital says it serves over 20 billion minutes of video each month and has a subscriber base north of 200 million.
Nirvana Digital provides monetization, distribution and rights management services to artists, labels, films and television and other content owners, including one of the world’s largest spiritual organizations, The Art of Living, in addition to rap / Hip Hop superstar Bohemia, and Regional Music Companies Vats Records and Team Films.
According to a press release, the two companies (Create and Nirvana) now exceed 25 billion streams per month, which, according to Create, makes it one of the largest media companies in the world in terms of audience.
As part of the acquisition, the co-founders of Nirvana Digital, Manu Kaushish and Pinakin Thakkar, have been appointed respectively President of Create Music Group India and COO of Create Music Group India.
Manu Kaushish has over 20 years of experience in entertainment and technology, founding two digital media companies and working on the first Indian music content deals for Real Networks and Apple iTunes, the first monetized Bollywood channel on YouTube and the first Bollywood SVOD channel in the United States Cable.
Pinakin Thakkar, who is based in Mumbai, has worked in advertising and technology for over 15 years, including companies such as Percept Holdings and Ogilvy and Mather, and has strong ties to the advertising industry. media in India.
Create Music Group is a distribution, rights management and music publishing company founded in 2015.
In 2016, Create Music Group announced the acquisition of distributor Label Engine, which has worked with clients such as Insomniac Records and 6ix9ine.
Create also acquired Flighthouse, which remains an influential social media company on platforms such as TikTok.
In September 2018, Create Music Group announced that it had launched a music publishing operation, to which it had signed long-term distribution client 6ix9ine.
In January 2019, Create Music Group began providing its rights management and distribution clients with estimated royalty data daily from streaming services such as YouTube, Apple Music, and Spotify.
“India is without doubt one of the most exciting growth areas in the global music and media market. “
Jonathan Strauss, Create
Create Founder and CEO Jonathan Strauss said, “India is without doubt one of the most exciting growth areas in the global music and media market.
“We had been looking for the right way to grow our business in India for some time now, and after being introduced to the co-founders of Nirvana Digital and seeing the parallels between our two companies, we felt the right decision was to acquire them. and boost our entry into India with one of its most forward-thinking new media companies.
“Create works with the world’s most recognizable artists and labels. “
Kaushish, who is based in San Francisco, added, “Create works with the world’s most recognizable artists and labels.
“Create’s relationships, technology and capital will help us fuel the growth of Indian artists and labels who will have access to global distribution and monetization across major platforms such as iTunes, Spotify, Amazon Music as well as on Indian platforms like JioSaavn and Gaana. “
“Likewise, this agreement opens the doors to Create’s American clients to access the Indian market of nearly 700 million young people. “
Pinakin Thakkar said, “Likewise, this deal opens the doors for Create’s US clients to access the Indian market of nearly 700 million young people and bring Create’s globally recognized brands, including Flighthouse, which is the designer chain. most followed on TikTok, India. “Music trade around the world