Saregama India Ltd [NB: Site includes embedded audio] and Timbre Media Pvt Ltd have announced a strategic alliance under which Saregama has acquired a 10% equity stake in Timbre Media, an Internet radio service provided by former WorldSpace employees. The two parties will partner to provide a high-quality and variety of genre-based radio channels to the Indian market. With this, the Saregama India-Timbre Media alliance brings back the legacy of WorldSpace radio.
The two companies plan to use content from Saregama’s industry-leading and extensive library as well as from other popular labels to provide unparalleled 24-hour stations of Indian music ranging from old Hindi films, Hindustani classical, carnatic classical, new Hindi music, ghazals and stations in all major Indian languages. Saregama India and Timbre Media plan to leverage the distribution network of Saregama and the Timbre Media-developed channels to target the digital domains of mobile, Internet and Direct-to-Home television services.
Adarsh Gupta, Business Head – Music at Saregama India said “This is a very logical alliance for Saregama as it takes us to the next stage in the value chain with our content. We believe that there is still a very loyal customer base that appreciates the quality that the Timbre team provided previously on WorldSpace. Through this alliance we will endeavour to bring the same quality and serve this product in all possible digital formats including Mobile, DTH and the Internet.” Timbre Media has also secured an exclusive license to use the WorldSpace brand in India.
WorldSpace launched its satellite radio services in India in 2000 and was able to garner 163,200 subscribers by 2008 before it filed for bankruptcy, and its buyer decided not to support WorldSpace’s subscription business in India. The service was officially shut down on 31 December 2009, with no refunds provided to its subscribers.
July 5th, 2011 - 14:05 UTC
(Source: press release/thenextweb.com)