Primary Wave Expands Global Reach With $100M Investment In India's Times Music

Primary Wave, the American independent music company, has made a strategic investment in Times Music, one of India's leading music labels, in a deal worth $100 million. The investment marks Primary Wave's entry into the Indian market, and it is the largest investment made by the company in its 15-year history.

Times Music is a prominent player in the Indian music industry, with a vast catalog of music across various genres, including Bollywood, devotional, and regional music. The label has been instrumental in promoting Indian music globally and has collaborated with some of the world's leading music companies.

Primary Wave, on the other hand, is a New York-based music company that specializes in the acquisition and management of music publishing rights. The company has a diverse catalog of music that includes iconic songs from legends such as Bob Marley, Whitney Houston, and Ray Charles, among others.

The strategic investment in Times Music will give Primary Wave a foothold in the Indian music market, which is one of the fastest-growing in the world. According to a report by Deloitte, the Indian music industry is projected to grow at a CAGR of 10.8% between 2021 and 2025, driven by the increasing adoption of streaming services and the growing popularity of regional music.

In a statement, Lawrence Mestel, CEO of Primary Wave, said, "India is a vibrant and growing market for music, and Times Music is a perfect partner for us to enter this market. We are excited to work with Times Music and its talented team to unlock the potential of its catalog and bring its music to a global audience."

Mandar Thakur, COO of Times Music, added, "We are delighted to partner with Primary Wave, which has a proven track record of success in the music industry. This investment will not only help us grow our business but also provide us with access to Primary Wave's expertise and global network."

The deal between Primary Wave and Times Music is a significant milestone in the Indian music industry, as it highlights the growing interest of international players in the market. It also underscores the potential of Indian music to reach a global audience and the importance of investing in music publishing rights as a lucrative business opportunity.