Sony Music, Zee ink global digital assets management deal
New Delhi: Sony Music Entertainment and Zee Music Co on Saturday announced a world-wide deal under which the global music major will manage all digital assets for the Indian firm's upcoming Bollywood releases.
With this announcement Sony Music will have access to all of Zee Music's releases, including Holiday, Bang Bang, Bombay Velvet, Humshakal and Hawa Hawaii, the company said in a statement.
Commenting on the development, Sony Music India Marketing Director Sanujeet Bhujabal said: "This strategic association will provide a global foot print to all the prestigious releases. This is a huge opportunity and together we believe we will be able to provide the best of music entertainment to fans."
Expressing similar views, Zee Music Co Head Anurag Bedi said: "Partnering with Sony Music will be mutually beneficial as we have a robust slate for this year which includes about 20-25 films, all of which are produced by leading production houses."
The tie-up further extends to exploring publishing for Zee Music's assets for the rest of the world through Sony/ATV, the largest music publishing company in the world.
Apart from the Zee Music releases, Sony Music said it will also be working on big budget films with leading production houses, including Vishesh Films, Dharma Production and Fox Star Studios.
Zee Entertainment Enterprises Ltd had recently announced its foray into the music label space with its venture, Zee Music Company, and acquired the music rights of over 20 major motion pictures.