Universal Music India (UMI), a division of Universal Music Group (UMG), today announced that it has acquired a majority stake in music and entertainment company, TM Ventures. Together UMI and TM Ventures will work across its talent management, entertainment consultancy and live/events businesses, accelerating UMI’s leadership of the domestic Indian non-film music business, and providing TM clients with the resources of UMI locally as well as UMG globally.
Adam Granite, UMG’s Executive Vice President, Market Development, said, “We are delighted to partner with Tarsame Mittal and his team at TM Ventures. Together we will accelerate UMI’s evolution within India and South Asia, by expanding the range of services we offer, and accelerating our artist development activities in order to introduce the very best in Indian talent to new audiences globally.”
Devraj Sanyal, MD & CEO, Universal Music India & South Asia said, “It is a great honor to align with Tarsame, one of India’s most accomplished and respected entrepreneurs. Universal Music India and TM Ventures share a belief in developing and boosting the careers of homegrown talent and artists. Together, with Tarsame and his excellent co-CEOs Alaap and Saurabh, we will expand the scope of opportunities available to Indian artists and accelerate the growth of the Indian music market, building a new, more expansive model of services available from UMG to all Indian artists.”
Tarsame Mittal, Founder, TM Ventures said, “At TM Ventures, we are ecstatic to begin our partnership with UMG. We have grown TMV up to this point with great care, passion, and a single-minded vision to become the company we are. We carry the learnings, vision, and passion on to this next level of growth alongside a robust global network which shares in the “artist first” belief as much as we do. UMG’s experience, structure, process, access, and guidance will be the much-required support for us to work together towards our core goal of providing world-class services and opportunities to our artists in the most transparent and innovative ways. My partners Alaap Gosher and Saurabh Abbi, our core team family, are very excited about being a part of the most trusted company in the music business globally. This partnership with UMG will help us achieve that, and we can’t wait to get started.”
Alaap, co-founder, TM Ventures said, “We at TM Ventures have always believed in delivering the best in the world of music & entertainment. We are elated to carry the same belief in our strategic partnership with UMG – A synonym for entertainment. It is uncommon to have found a partner who is as driven for excellence as we are. It’s day ONE, and we cannot wait to get started.”
Abbi, co-founder, TM Ventures, “We at TM Ventures are thrilled to have UMG as our strategic partner. It’s rare to find a partner who not only shares the same passion but also carries similar ethics, integrity and the artiste-first approach in everything we set our minds to. We at TMV cannot wait to begin this partnership and take the leap in the next growth phase to bring world-class entertainment to you globally.”
