Sony Music Entertainment and Sony Pictures Entertainment have come together to float a cross-corporation joint venture named ‘Sony Entertainment Talent Ventures India’ (SETVI). The new entertainment company will help in creating ventures for media talent in India.
It will offer actors, musicians, sportspersons, gamers & content creators in India opportunities for co-ventures, metaverse solutions, brand partnerships and management.
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Monetising company for performers
The Sony Group is basically trying to use the strengths of its various companies to create a platform that would be helpful to the performing stakeholders of the industry.
Sony Music Entertainment is India’s leading record company, with a significant presence spanning Bollywood, Tamil OST, and multiple genres including national and regional pop.
Sony Pictures Entertainment includes Sony Pictures Networks, a broadcast division with over 700 million viewers from 170 million households in 8,000 cities in India; Sony Pictures International Productions, a film production studio; and Sony LIV, a growing digital streaming and OTT business.
The media talent that ties up with SETVI can hope to benefit from this deep and wide reach of the company. "They will also benefit from potential partnerships and global opportunities across the wider Sony Group, such as Sony PlayStation and Sony Electronics," Sony said in a press statement.
“SETVI will leverage our expertise, deep local relationships and global reach to give talent the potential to scale, become household brands and fully realize their creative and commercial potential,” said Shridhar Subramaniam, President of Corporate Strategy and Market Development in Asia and Middle East, Sony Music Entertainment.
Sony has also appointed Vijay Singh as the CEO of SETVI. And he, for his part, said: “Our ambition is to work as advisors to talent to build their wealth and legacy and unlock the best monetization opportunities for them in India and the world.”
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