iWorld
Jio may use US$4.4bn to lay OFC, expand network to stifle competition
MUMBAI: It’s common knowledge that Reliance Jio, Mukesh Ambani’s telecom venture, is up against incumbent rivals such as Vodafone, Bharti Airtel, and Idea Cellular. Jio closed 2016 with 72.4 million subscribers. Last September, it claimed to be the fastest growing technology operation in the globe after signing up 50 million subs in 83 days.
Ambani has already invested Rs 1,71,000 crore (approx US$25 billion) into Jio to build India’s first fourth-generation (4G)-only infrastructure to provide high-speed internet. He recently announced that Jio will raise another Rs 30,000 crore through a rights issue, which will be used to expand existing network and lay additional optical fibre cable (OFC). OFC is vital for high-speed internet as it joins one telecom tower, transmitting air waves for wireless connectivity, to the other, via cables.
Reliance announced plans for a rights issue of convertible preference shares at Jio to raise US$ 4.4 billion. A part of the funds will be used to continue funding its free internet services, which has been a reason for regulatory tussle with other telecom operators.
Vodafone is fighting a legal case against Jio. Bharti CMD Sunil Mittal said that Jio’s free services started an unfair competition.
Jio has already acquired 72 million subscribers, and is adding six lakh new ones every day, the company says. Jio’s offers set off a price war. Airtel now is offering Rs 9,000 of free 4G data to new subs and has also cut down its data prices by two-thirds. Idea also is offering several schemes to data users.
Jio is getting more subscribers with an introductory and then New Year offer of free services until March. The company also claims the most extensive Indian 4G network which will reach soon 90 per cent population.
iWorld
Anirudh Ravichander and Universal Music India join forces to take South India’s sound to the world
The composer behind 13 billion streams launches Albuquerque Records with UMI as its exclusive global partner
MUMBAI: Universal Music India has struck an exclusive partnership with Albuquerque Records, the freshly minted independent label of singer-composer Anirudh Ravichander, in a deal that bets big on South India’s booming pop and hip-hop scene going global.
The arrangement, announced on 17 March, will see Universal Music India handle future pop and hip-hop releases by Anirudh himself, as well as artists signed to the new label. A first release is already in the pipeline for April, featuring Anirudh.
The numbers behind the man are hard to ignore. Debuting in 2012 with the viral sensation “Why This Kolaveri Di”, Anirudh has since clocked over 13 billion audio streams across more than 770 tracks, cementing his position as the No.1 South Indian artist on Spotify by total streams. His fingerprints are all over some of the Tamil film industry’s biggest musical moments, from Hukum and Vaathi Coming to Arabic Kuthu and the A23 Theme.
But Albuquerque Records is a different beast. Built for the non-film space, it is designed to nurture independent talent and champion the next wave of Indian pop voices. “Universal Music India’s leadership in pop and hip-hop made them the natural partner,” said Anirudh. “I’m excited to take independent voices to audiences around the world.”
Universal Music India’s chairman and CEO Devraj Sanyal was equally effusive. “Anirudh represents the future of Indian music, bold, original, and with enormous potential,” he said. “Identifying transformative talent is our superpower, and this partnership reflects that belief.”
Sanujeet Bhujabal, managing director of Universal Music India, framed the deal as more than a distribution play. “Albuquerque Records represents Anirudh’s bold artistic vision in the world of pop and hip-hop,” he said. “True to his legacy of innovation, this partnership is set to establish yet another landmark creative space, this time for the emerging world of iPop and beyond.”
For Universal Music India, the deal deepens a long-running push into South India’s four key language markets: Tamil, Malayalam, Kannada and Telugu. The label already has regional imprints, film partnerships with Maddock Films and Excel Entertainment, and a growing non-film roster. Landing Anirudh, arguably the south’s most bankable music brand, is a statement of intent. South Indian music has the streams. Now it is coming for the world.
