Primary Wave and Times Music have once again expanded their reach in India’s quick-growing music market, this time by acquiring “pioneering Punjabi label” Catrack Entertainment (originally Catrack Cassettes Industries).
Having initially partnered three years back, Primary Wave and Times Music (a subsidiary, though part-owned by Primary Wave, of Indian media conglomerate The Times Group) unveiled their latest play today.
Unsurprisingly, IP is front and center in the deal, the financial terms of which haven’t been publicly disclosed. 36-year-old Catrack’s catalog includes recordings from domestically prominent talent like Babbu Maan, Malkit Singh, Dolly Singh, and Manmohan Waris, to name a few.
And against the backdrop of the Indian music sector’s streaming-powered buildout, Primary Wave and Times intend to capitalize on the acts’ and works’ reach with efforts spanning sync, film, OTT, branding agreements, “and contemporary reinterpretations.”
(Catrack itself took a stab at OTT with a platform called Heeroz, and per the LinkedIn page of founder Gaurav Trehan, the selling business has “released more than 500 Punjabi albums.”)
All this said, there’s a bit more to Catrack than a hit-heavy catalog. The company has racked up roughly 200 million views on its “Catrack Kids TV” YouTube channel; offers both music and film production services via a seemingly expansive physical studio; and appears to have a presence in straight distribution as well.
In any event, Primary Wave and Times have plans of their own for the assets; Catrack’s website and YouTube channels are already being taken down. And while time will tell precisely what these plans entail, out of the gate, execs are highlighting objectives of preserving and effectively monetizing Catrack classics.
“The Catrack catalogue is a cultural treasure that defined an era for Punjabi music lovers,” stated Times Music CEO Mandar Thakur. “This acquisition strengthens our commitment to preserving and re-energising India’s most iconic music and artists.”
“We’re delighted to welcome the legendary music of Catrack to our partnership with Times Music,” added David Loiterton, Primary Wave’s Asia and Indo Pacific president. “Catrack is a great example of our pursuit of unique, iconic music IP that can transcend generations and cultures, and we’re looking forward to helping Times Music bring that music to new audiences around the world.”
Today’s play marks the third acquisition spearheaded by Times and Primary Wave, which last year bought Bengaluru-based label ARC Musicq and Symphony Recording, billed as “South India’s top devotional music label.”
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source primarywave.com ’
