Indian music industry professional and former executive VP at Saregama, Rashna Pochkhanawala, has founded PaRa Music, an “AI-powered” company. But the venture won’t involve AI artists or music.
Instead, the label will use its in-house AI platform PaRaMeter to analyse “audience behaviour and demand patterns”, which will then “guide investment and release decisions” related “to catalogue development, distribution and monetisation”.
Pochkhanawala says she has got a “consortium of angel and institutional investors” that have bought into the idea. “India’s music economy is entering a period of unprecedented growth, and we believe music IP will be one of the defining asset classes of the next decade,” said a spokesperson from Apollo Growth Capital, which is among the entities that has invested in PaRa Music.
The label has set itself a lofty target with plans to amass a catalogue of 40,000 songs, across film and “non-film” music in Hindi and regional Indian languages, over the next four years. A significant chunk of that is likely to be achieved through catalogue acquisitions.
The first of PaRa Music’s releases—a song and music video by singer-actor Arvind Akela Kallu—will be out on 10 June, the day it will launch its Bhojpuri-language YouTube channel Bhojpuri Dhoom.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source musically.com ’
