Photo Credit: ARC Musicq / Symphony Recording Co.
Times Music announces the acquisition of two leading Indian record labels, the company’s first since their strategic partnership with Primary Wave.
ARC Musicq and Symphony Recording Co. serve as Times Music’s first acquisitions since their strategic partnership with Primary Wave Music in 2023. That partnership saw the publishing giant invest significant capital to help accelerate the company’s growth in the global markets. Both Symphony Recording and ARC Musicq have established universal appeal in the growing Indian music markets, making them exciting additions to Times Music’s repertoire.
Growing from a retail music store in 1983 to South India’s top devotional music label, Symphony Recording Co. maintains a position as the undisputed leader of Tamil spiritual and devotional music.
Housing the largest catalog in the genre, with over 350 audio and 100 video albums, Symphony’s collection of music is deeply embedded in Tamilian culture worldwide. With collaborations from legendary artists in the Indian music space like Dr. Balamurali Krishna, Dr. S.P. Balasubrahmanyam, and Chitra, the company has set industry benchmarks in music and video production.
The label’s devotional songs contribute to a majority of its YouTube revenue, which has doubled in the past four years, and the label’s six channels have a viewership of nearly two billion. As Symphony continues to dominate the devotional and folk music space, this acquisition will now strengthen Times Music in the Tamil market as a spiritual market leader.
ARC Musicq, a time-tested label whose music has been distributed by Times Music since 2017, also upholds a place as a leading Kannada music label. As a pioneer in the entertainment industry since its initial inception in 1985, the label has played a key role in the expansion of Indian folk music and film soundtracks, contributing to over 75% of A-grade movie OSTs.
The company is home to a diverse collection of film, devotional, and folk music within the Kannada music market, which has also taken a major foothold across YouTube. The label’s four channels have seen significant growth, and much like Symphony Recording Co., has a viewership of over two billion views, with YouTube revenue having quadrupled in the past three years.
Spiritual and devotional music finds itself having a strong and stable listenership across India as it transcends the country’s religion and caste system. With the rise of digital streaming platform investments surging in the past two years — over 230% according to Spotify’s Culture Next Report — these acquisitions situate Times Music as a major player in the spiritual and devotional genre and aim to strengthen the company’s presence in the Kannada music market.
“These acquisitions by Times Music represent a major milestone in the company’s growth journey and the Times Group’s ongoing expansion in the broader entertainment space,” said Vineet Jain, Managing Director, Times Group.
“Times Music has an array of exciting premium partnerships coming up and we are proud to work with Symphony Music and ARC Musicq catalogs to further their global appeal,” added Mandar Thakur, CEO, Times Music.
“Primary Wave partnered with Times Music because growth in our business will come from emerging markets like India, and there are libraries of legendary music that live in the hearts of local consumers,” said Primary Wave’s David Loiterton. “These are the first of what we hope will be many more investments in legendary Indian music.”
A subsidiary of The Times Group, Times Music is one of India’s leading record labels and music publishers. Since its inception in 1998, Times Music has been working with a broad array of leading artists and songwriters, domestic and global film studios. The company is a major player in the Punjabi and South-Indian music markets, as well. Times Music has an exclusive global distribution partnership with Speed Records, the leading Punjabi music label in the world.
Content shared from www.digitalmusicnews.com.