ShareChat, Moj sign multi-year licensing deal with T-Series1 min read . Updated: 05 Aug 2021, 10:31 AM IST
- The partnership allows ShareChat and Moj to access the T-Series’ catalogue of Indian music, which it can provide to its creator communities
NEW DELHI: Mohalla Tech, the parent company behind short video app Moj and social media platform ShareChat, has announced a multi-year and multi-nation agreement with music label T-Series.
The partnership allows ShareChat and Moj to access the latter’s catalogue of Indian music, which it can provide to its creator communities. ShareChat and Moj had already struck a one-year licensing agreement with T-Series in 2020.
“With this partnership, we can drive more value to the industry, support more artists and deliver an incredible creative experience to our users across India. Music has an alluring relationship with community building and our aim is to double down on nourishing it," Farid Ahsan, chief operating officer and co-founder, Moj and ShareChat said in a statement.
Bhushan Kumar, managing director, T-Series said ShareChat and Moj are long-term partners for the company in the Indian short video space. “This long-term license reciprocates both our intent to support the creator economy and build a robust foundation for the creator led content ecosystem in the country," Kumar said in a statement.
To be sure, Mint had earlier reported that the music industry in India is losing about ₹200 crore annually in revenues as the short video apps are not paying to access the libraries of music labels legitimately. Even though some services like Moj and Chingari have signed deals with music labels like T-Series, Zee Music and others, several others are openly flouting rules of copyright. The Indian music market earned total revenue of ₹1,068 crore according to the Digital Music Study 2019 brought out by the Indian Music Industry (IMI).
IMI is the apex body that represents the interest of music companies or record labels on a pan India basis. India’s homegrown short video app market has been trying to make the most of the Make in India wave that has gained ground since the ban on Chinese apps such as TikTok last year as they cater to a young, primarily small-town base of users.
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