Saregama India and Timbre Media Announce Equity-based Strategic Partnership
Saregama India Ltd. and Timbre Media Pvt. Ltd. announced a strategic alliance under which Saregama has acquired a 10% equity stake in Timbre Media and the two parties will partner to provide a high-quality and variety of genre-based radio channels to the Indian market. With this, the Saregama India-Timbre Media alliance brings back the legacy of WORLDSPACE radio whose name is synonymous with genre-based programming excellence. The two companies plan to use content from Saregama’s industry-leading and extensive library as well as from other popular labels to provide unparalleled 24-hour stations of Indian music ranging from old hindi films, hindustani classical, Carnatic classical, new hindi music, ghazals and stations in all major Indian languages.
Saregama India and Timbre Media plan to leverage the distribution network of Saregama and the Timbre Media-developed channels to target the digital domains of mobile, Internet and Direct-to-Home television services. On the occasion Mr. Adarsh Gupta, Business Head – Music at Saregama India said “This is a very logical alliance for Saregama as it takes us to the next stage in the value chain with our content. We believe that there is still a very loyal customer base that appreciates the quality that the Timbre team provided previously on WORLDSPACE. Through this alliance we will endeavour to bring the same quality and serve this product in all possible digital formats including Mobile, DTH and the Internet.”
Mr. Apurv Nagpal, Managing Director, Saregama India, added on the alliance saying “It is a significant step forward for Saregama into the digital domain and we believe that together, we will bring back the customer delight for evolved radio listening through this strategic alliance.”
Mr. M. Sebastian, Co- founder and CEO, Timbre Media said “We’re poised to take the big step now. Since early 2010 we have established the critical infrastructure needed for high quality services, including new studio facilities in Mumbai and Bangalore, We have been steadily building partnerships and clientele in the radio and music industry and Saregama of course, needs no introduction – its history is the history of recorded music in our nation. The partnership with Saregama provides a tremendous boost to our ability to package and distribute quality music content and with them on our side we believe that we are in a strong position to reach a very broad audience and grow rapidly”
Ms. Seetal R. Iyer, Co-Founder and Head of Content, Timbre Media also added, “Timbre Media was formed in 2010 and has drawn experience from professionals involved with WORLDSPACE earlier. We focused on returning those lost stations of WORLDSPACE to the people. For our listeners, this means that their favourite WORLDSPACE stations like Farishta, Jhankaar, Gandharv, and Shruti, to name a few, will be back again soon on various platforms.”