L-R: Sanford Panitch, Vijay Singh, Shridhar Subramaniam
Courtesy of Sony
Sony Music Entertainment and Sony Pictures Entertainment have joined forces to create Sony Entertainment Talent Ventures India (SETVI), an entertainment company that will offer actors, musicians, sportspersons, gamers and content creators in India opportunities for co-ventures, metaverse solutions, brand partnerships and management.
This is the first official cross-corporation joint venture for Sony Group in India. India is on track to become the third largest consumer market by 2030 and sustains one of the largest local-language content creation ecosystems in the world. SETVI aims to tap into this, using the combined might of the Sony Indian entities.
Talent represented by SETVI will also benefit from potential partnerships and global opportunities across the wider Sony Group, such as Sony PlayStation and Sony Electronics.
Sony Music Entertainment’s reach spans Bollywood, Tamil-language film soundtracks and national and regional pop. Sony Pictures Entertainment includes Sony Pictures Networks, a broadcast division with over 700 million viewers; Sony Pictures International Productions, a film production studio; and streamer Sony LIV, which has 17.9 million paid subscribers.
Vijay Singh, formerly CEO at Fox Star Studios India, will serve as SETVI CEO. Sanford Panitch, president, Sony Pictures Motion Picture Group, Shridhar Subramaniam, president of corporate strategy and market development in Asia and Middle East, Sony Music Entertainment and N.P. Singh MD and CEO, Sony Pictures Networks India, comprise SETVI’s board of directors.
Panitch said: “Sony Group’s ecosystem in India offers far-reaching and unique opportunities for talent to build their brands in an authentic way.”
Subramaniam said: “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. The digital revolution and India’s unique start-up culture bring huge opportunities and SETVI’s role will be to partner with talent to build and serve their fans in exciting new ways.”
Singh added: “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.”
Variety's Naman Ramachandran contributed to this post.
https://variety.com/2022/global/news/sony-entertainment-talent-ventures-india-launch-1235170957/
