New Delhi: Sony Music Entertainment and Sony Pictures Entertainment have announced the launch of Sony Entertainment Talent Ventures India (SETVI), an entertainment company that will provide actors, musicians, sportspeople, gamers and content creators in India with joint venture opportunities , metaverse solutions , partnerships and brand management.
The new entity is a joint venture between the two verticals of Sony in the first official cross-company joint venture for Sony Group in India.
Former Fox Star Studios CEO Vijay Singh is the CEO of SETVI.
“The digital disruption around us has had a direct impact on the entertainment ecosystem by putting talent at the center of value creation and we believe there is a unique and fantastic opportunity (for us) to create more value working with talent,” Singh said in an interview with Mint.
Along with regular branding opportunities, Singh said his team, which includes specialists in private equity, games, fundraising and intellectual property, will help talents extend their longevity beyond movies, sports shows or tournaments to business opportunities. The company is already in preliminary talks with more than 150 investors considering options and collaborating with talent.
“We position ourselves as strategic advisors to talent and strive to build their wealth and legacy,” Singh said, adding that the idea is to collaborate with existing talent agencies that stars can already employ but who may not have the skills to facilitate such opportunities.
In addition to business deals, SETVI will allow talent to build their digital presence, improve engagement, especially with younger audiences moving online, and find ways to monetize these mediums. “We are also considering making IPs, whether it’s scripts for movies, games, or those related to esports,” Singh added.
The Mumbai-based company currently has a team of 10, all of whom are vertical heads and are in discussions with talent in studios and broadcasters. Its pan-India operations will also include partnerships in southern markets.
The new company’s board of directors will include Shridhar Subramaniam, president of corporate strategy and market development in Asia and the Middle East, Sony Music Entertainment, Sanford Panitch, president, Sony Pictures Motion Picture Group and NP Singh , Managing Director and Chief Executive Officer. , Sony Pictures Networks India.
Talent represented by SEVI will also benefit from potential partnerships and global opportunities within the wider Sony group, such as Sony PlayStation and Sony Electronics, the company said in a statement.
“Sony Group’s ecosystem in India offers unique and far-reaching opportunities for talent to build their brands authentically,” said Sanford Panitch, Chairman of Sony Pictures Motion Picture Group in a statement.
Bollywood’s talent management ecosystem is currently dominated by agencies like Spice PR, Raindrop Media, and Universal Communications that manage media and PR for top actors, directors, and ad campaigns for movies. Filmmaker Karan Johar announced a celebrity management firm Dharma Cornerstone Agency in December 2020 in partnership with Bunty Sajdeh, whose talent management firm Cornerstone, founded in 2008, manages sportspeople including Virat Kohli, Vinesh Phogat, KL Rahul, Sania Mirza, Yuvraj Singh, among others.
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