Airtel Launches Wynk Studios To Support Independent Artists
The platform aims to address some of the challenges faced by the artists in the creative industry which includes discovery, monetisation and data analysis
By
Teena Jose
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Bharati Airtel, a telecommunications network, has launched Wynk Studios, a music distribution platform to encourage independent artists. The studio supports artists to launch their independent music and will partner with them in monetising their music. Wynk Music is an another popular music streaming platform launched by Airtel.
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"Indians are spending more than 21 hours every week listening to music compared to the global average of 18 hours," said the platform in a statement.
As per reports, Wynk Studio aims to address some of the challenges faced by the artists in the creative industry which includes discovery, monetisation and data analysis.
"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 an aspiring musician to pursue their passion and earn income at the same time. We are looking to attract talent from across the world and scale the platform to 5000 artists in the next 1 year," said Adarsh Nair, CEO, Airtel Digital, in a statement.
Currently, the platform claimed that it has onboarded 130 artists from India, Singapore and United States. It is also said that the platform will help artists to use Airtel's deep data science capabilities to build music that is enjoyed by their followers and help them create commercially viable music.
"The music will be shared with other music platforms too, which will help them get discovered. This will help the artists to achieve record streams in competitive timelines through the support of our strong distribution capabilities. This ensures consistent earnings for artists on every stream enabling them to make their music career," said Nair in the statement.
As per market studies, the Indian music industry estimated at INR 2000 crore and is expected to reach at INR 3000 crore with a CAGR of 50 per cent by 2025.
