Universal Music India Pvt Ltd (UMPIL), a 100 per cent subsidiary of the world’s largest music company Universal Music Group, has acquired a 50 per cent stake in Enchanted Valley Carnival (EVC), for an undisclosed amount, as per a report in The Economic Times.
Enchanted Valley Carnival, which was launched by Twisted Entertainment in 2013, is an experiential music festival that combines performances, picturesque locale, adventure sports and a camping experience for an entertaining weekend. It is held in Amby Valley every year in December.
The acquisition marks Universal Music Group South Asia’s debut in the experimental marketing space as the first label to participate in a venture of its kind.
Bringing together some of the most electrifying international performers, EVC covers a vast spectrum of dance music with the presence of Indian talent in the line-up. There is a pan-India marketing plan that will roll-out for EVC 2015. The festival will take place from 18-20 December 2015.
Devraj Sanyal, MD and CEO – South Asia, Universal Music Group, told BusinessLine, “We wanted to cover all genres in music be it digital, large format events or music labels. We are primarily a music label entering the festival business”.
The live music industry is currently pegged at about Rs 400-500 crore and is growing at over 20% every year. Currently, over a lakh people attend live music shows held across India
Twisted Entertainment continues to hold remaining 50% stake in the Enchanted Valley Carnival. Together the two companies are also looking to take this festival to the international markets like Singapore, Indonesia, Srilanka, United States and United Arab Emirates among others by introducing music genres like sufi, fusion, indie-pop among others.
UMIPL has an extremely rich Indian catalogue comprising artists such as Asha Bhosle, Anup Jalota, Jagjit Singh, Mohit Chouhan, Euphoria, Rabbi, Colonial Cousins to name a few. On the International music front, its catalogue includes artists such as Madonna, Jennifer Lopez, ABBA, Akon, Bon Jovi, Bryan Adams, The Black Eyed Peas, Enrique Iglesias, Eminem, Lady Gaga, Taylor Swift, Justin Bieber amongst host of other popular music icons and household names in India.
Universal Music Group is an American worldwide music corporation that operates as a subsidiary of Paris-based French media conglomerate Vivendi.