Believe partners with Panorama Music to expand into Bollywood OST market
Believe, a global digital music company, has announced a partnership with Panorama Music, an Indian music company that produces music for Bollywood films. This exclusive distribution deal marks a significant step in Believe India's expansion into the Bollywood OST market, which is the country's largest music segment. The partnership will allow Believe's Label and Artist Solutions (L&AS) to distribute all content for Panorama Music, including Hindi Film Music, Hindi Independent Music, and Regional Music.
Vinay Guwalani, Director Label and Artist Solutions– Believe India, said, "We are thrilled for this landmark partnership with Panorama Music, where Believe will be the partner for all releases under Panorama Music." He added that this partnership is a way to further strengthen the independent music scene and build a sustainable and healthy local music industry in India.
Kumar Mangat Pathak, Chairman and Managing Director of Panorama Music, said, "Our vision is to be a next-generation platform for music artists, thereby a critical source of emergent new artistic talent in the country." He expressed his gratitude towards Ajay Devgn, who has consistently supported Panorama Music since its inception and entrusted them with his directorial Runway 34 as the first Bollywood OST with the label.
Believe has been focusing on developing a strong network of regional labels and independent artists in India since its launch in 2013. The company's strategy has allowed it to capture the Indian regional market and provide its unique digital expertise and values of transparency, fairness, and equity at the service of local artists, labels, and movie production houses across independent music, non-film, and music film.
Vivek Raina, Managing Director of Believe India, believes that this partnership will allow Bollywood producers to look at options to self-release and retain the rights of their albums. He said, "Our digital expertise and transparency will allow Bollywood producers to look at options to self-release and retaining the rights."
The recent release of the soundtrack from the film Drishyam 2 with Panorama Music is the first example of this collaboration. With the market evolution, Bollywood producers are now starting to look at retaining the music rights. This partnership is a way to further strengthen the independent music scene, Believe being a key player in supporting local indie labels/producers and contributing to building a sustainable and healthy local music industry in India.
