Bharti Airtel's music streaming app Wynk Music on Thursday launched a music distribution ecosystem for independent artists based in India and overseas, called Wynk Studio.
The telecom major, in an exchange filing, said, "The studio will enable artists to launch their music and will also partner them in monetizing their music on a host of platforms and will be a part of Airtel's digital products portfolio which includes Wynk, Airtel Xstream, Airtel Ads, Airtel IQ among others."
Also, it plans to launch 5,000 independent artists on the platform in the next 1 year, it added.
"Almost 30 per cent of the top performing songs across any music platform in India are today from independent artists and these independent artists are all set to drive the growth of the industry by 50 per cent by 2025," Airtel further stated.
Adarsh Nair, CEO, Airtel Digital, "The creator economy for music is at a nascent stage but poised to grow significantly. With Wynk Studio, we are building a platform that allows aspiring musicians to pursue their passion and earn income at the same time."
Here's how Wynk Studio plans to help an artist:
Discovery - Enabling artists to launch their music on the Wynk music app and also other music platforms. Music listeners can save, download and even follow their favourite artists on the Wynk app.
Monetisation - Helps emerging artists to achieve record streams in competitive timelines through Airtel's distribution capabilities. This could ensure consistent earnings for artists.
Transparency & Data Analytics - Using Airtel's data science capabilities, artists can now build music that is enjoyed by their followers, helping them to create commercially viable music.
Wynk offers music in 15 Indian languages and regional songs. And, Wynk Studio currently has over 100 artists on its platform from India, Singapore and the United States.
Meanwhile, shares of Airtel slipped 0.76 per cent to close at Rs 709.55 today, while Indian equity benchmarks settled with modest gains.
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