India’s Eros and UK’s EMI forge music pact
Eros is a dominant player in the Indian entertainment market, and EMI has top Western artists such as Beyonce, Alicia Keys, and Pink recording under its labels.
Under the deal, Eros will market EMI’s catalog of 1.3 million songs in India, while EMI will market Eros’ catalog of Bollywood and South Asian music worldwide, except in India.
The companies first worked together last year to obtain a license for “Beedi,” a song from the Bollywood film Omkara (2006), as the theme song for the hit Brazilian television show, Caminho das Indias, a program that has touched off a craze in Brazil for everything Indian, including Bollywood.
Western music captures as small a market share in India as Indian music does in the West. The same is true of film—India and the West have yet to significantly penetrate each other’s movie markets. Indian composer A.R. Rahman has helped introduce Indian music to mainstream Western audiences with his Oscar- and Grammy-winning soundtrack for the film Slumdog Millionaire. The Indian music and movie industries are highly intertwined—about 70% of music sales come from movie soundtracks.
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February 21, 2010
