iWorld
Goan talent to shine at Sunburn Goa 2024
Mumbai: Sunburn Goa 2024, Asia’s premier electronic dance music (EDM) festival, draws music lovers from across the globe. But like every year, it’s not just about the beats—it’s also about community, culture and a chance for Goans to take centre stage. The festival offers an opportunity for Goans to be more than spectators.
A couple of weeks ago Sunburn Goa extended an open invitation to locals to participate, receiving an overwhelming response with over 1000 registrations. This remarkable enthusiasm reflects the vibrant support from the people of Goa and local businesses, eager to be part of this iconic event. Goan artists, musicians, photographers and entrepreneurs have stepped forward to participate and contribute. Over the years, during Sunburn Goa, the locals have involved themselves and benefited in numerous ways through visibility, better scope and increased business opportunities.
Talent takes centre stage as several Goan musicians, DJs and sound technicians get an opportunity to share an international platform with renowned music artists. DJ CurlyM recalls her incredible experience at last year’s festival. “Being on stage at Sunburn is not just a dream for artists, but also for the audience. It unites people from various cities and cultures, fostering a unique connection. When I performed at Sunburn, I realised that I am not just performing for one city or country but for multiple countries and diverse cities all at once. This exact feeling hits differently.”
DJ Allan D’Souza from Skeletron Academy mentions, “The festival provided a huge platform for my music, helping to highlight Goan talent. The crowd was amazing, and it felt great to see everyone enjoying the music and supporting our Goan artists. I can’t wait to be back this year.”
Food stalls set up by Goans offer a varied choice of Goan delicacies, allowing locals to benefit from increased sales during the festival, with brand visibility that spills across the rest of the year, which sees an influx of over 75,000 tourists.
Given the grandeur of Sunburn Goa with its vibrant themes, the music festival is a haven for photographers and videographers who have also been called upon to be part of Sunburn Goa 2024, providing a deserving platform to let their talent run wild. Additionally, there have been registrations for roles in stage production and venue production, which are crucial to the festival’s success. Local experts in these fields are encouraged to participate, building their experience at par with international standards on local soil and creating an edge for future projects.
The involvement of local businesses and vendors in the festival is also expected to provide a substantial boost to Goa’s local economy. As Sunburn Goa welcomes audiences from across the globe, it offers a unique platform for local enterprises to showcase their products and services to a diverse and international crowd. This fusion of global exposure and local talent not only enhances the festival experience but also promotes economic growth within the region.
Expressing his excitement about the initiative, Sunburn CEO Karan Singh said, “We are humbled with the strong response from the local community. The participation of Goan youth and local talent has always been a cornerstone of our success and we are glad to see that for the 18th edition. The festival thrives on the collective efforts of those working behind the scenes and the registrations this year are a testament to the collaborative spirit we cherish.”
Scheduled from 28 to 30 December 2024, Sunburn Goa 2024 is set to be a grand celebration of music, fashion, food and culture, significantly supported by local talent and vendors. The festival is witnessing enthusiastic participation from F&B partners, artists, production technicians and other local talents, underscoring its commitment to community involvement and regional growth.
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Bill Ackman’s Pershing Square makes $64 billion bid to acquire Universal Music Group
Ackman pitches NYSE relisting plan as UMG board weighs unsolicited offer
The hedge fund has proposed a business combination that values UMG at €30.40 per share, representing a hefty 78 per cent premium to its current trading price. The offer includes €9.4 billion in cash alongside stock in a newly formed entity, with shareholders set to receive €5.05 per share in cash and 0.77 shares in the new company for each UMG share they hold.
Under the proposal, UMG would merge with Pershing Square SPARC Holdings Ltd and re-emerge as a Nevada-based entity listed on the New York Stock Exchange. The move is designed to boost investor visibility and potentially secure inclusion in major indices such as the S&P 500.
Pershing Square Capital Management ceo Bill Ackman argued that while UMG’s operational performance remains strong, its market valuation has lagged due to external factors. “UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business,” Ackman said, pointing to concerns ranging from shareholder overhang to delayed US listing plans.
Ackman also flagged what he sees as untapped potential in UMG’s balance sheet and a lack of clear capital allocation strategy. He added that the market has not fully recognised the value of UMG’s €2.7 billion stake in Spotify, alongside gaps in investor communication.
The proposed transaction would also result in the cancellation of around 17 per cent of UMG’s outstanding shares, while maintaining its investment-grade balance sheet. Pershing Square has said it will fully backstop the equity financing, with debt commitments secured at signing. The deal is targeted for completion by the end of the year.
UMG, however, has struck a measured tone. The company confirmed that its board has received the non-binding proposal and will review it with advisers. It reiterated confidence in its current strategy and leadership under Lucian Grainge, signalling no immediate shift in stance.
The proposal comes at a time when global music companies are navigating evolving investor expectations, streaming economics and capital allocation pressures. For Pershing Square, the bet is clear: sharpen the financial story, relist in the US, and let the music play louder in the markets.
Whether UMG’s board is ready to change the tune remains to be seen, but the spotlight on its valuation just got a lot brighter.
