Sony Music and Sony Pictures Launch Joint Venture – “Sony Entertainment Talent Ventures India”
Mumbai: Sony Music Entertainment and Sony Pictures Entertainment have announced the formation of their first joint venture – Sony Entertainment Talent Ventures India (SETVI) to focus on creating opportunities for media talent in India.
The new entity will provide actors, musicians, sportspeople, gamers and content creators in India with opportunities for joint ventures, metaverse solutions, as well as partnerships and brand management.
Shridhar Subramaniam, Sanford Panitch and NP Singh (Managing Director and CEO, Sony Pictures Networks India) make up SETVI’s Board of Directors, and Vijay Singh will lead the new company as CEO.
The Sony Group joint venture seeks to combine the expertise and global reach of both companies, leveraging the vast pool of business talent and star power in India to create investment opportunities, partnerships, metaverse solutions and more for talents. “India is on track to become the third largest consumer market by 2030 and supports one of the largest local language content creation ecosystems in the world,” the statement said.
Talent represented by SEVI will also benefit from potential partnerships and global opportunities within the wider Sony group, such as PlayStation and Sony Electronics.
“SETVI will leverage our expertise, deep local relationships and global reach to give talent the potential to grow, become household names and realize their full creative and business potential,” said Sony Music Entertainment, President of Corporate Strategy and Market Development in Asia and the Middle East. Shridhar Subramaniam. “India’s digital revolution and unique start-up culture offer huge opportunities and SETVI’s role will be to partner with talent to build and serve their fans in exciting new ways.”
“Sony Group’s ecosystem in India offers tremendous and unique opportunities for talent to build their brands in an authentic way,” said Sony Pictures Motions Picture Group President Sanford Panitch.
Vijay Singh was previously CEO of Fox Star Studios for over a decade from 2010 to 2020. Previously, Singh was Managing Director of Developing Markets at the Tetley Group in London, and also brings music industry experience in this position, having previously led Sony Music Entertainment India as Managing Director from 1996 to 2002.
“Our ambition is to work as advisors to talent to build their wealth and legacy and open up the best monetization opportunities for them in India and globally.” said Vijay Singh. “It’s exciting to spearhead this new venture and I look forward to working with talent to realize their ambitions in the years to come.”