Wynk Music unveils India's largest music distribution ecosystem ‘Wynk Studio'; stock under pressure

11 Aug 2022 , 02:24 PM

Bharti Airtel’s Wynk Music, India's number one music streaming app in terms of downloads and daily active users, today launched Wynk Studio, the country's largest music distribution ecosystem for independent Indian artists and talent around the world.

The studio will help artists launch their music while also assisting them in monetizing their music across a variety of platforms. It will be part of Airtel's digital product portfolio, which also includes Wynk, Airtel Xstream, Airtel Ads, and Airtel IQ.

Wynk Studio is Airtel's first step toward accelerating India's music ecosystem. In the next year, the studio intends to launch 5000 independent artists on the platform.

This will bring forward unknown talent that has been stymied by the music industry's three most pressing problems: discovery, monetization, and analytics, all of which determine the difference between success and failure in the Indian music industry.

Wynk Music stated that the Indian music industry is at a crossroads. Indians, on average, listen to music for about 21 hours per week, compared to the global average of 18 hours.

Almost 30% of the top performing songs on any music platform in India today are from independent artists, and these independent artists are all set to drive the industry's growth by 50%, from around 2000 crore now to 3000 crore by 2025.

At around 2.10 PM, Bharti Airtel was trading at Rs710 per piece, down by 0.69% from its previous closing of Rs714.95 on the BSE. The scrip touched intraday high and low of Rs723.40 and Rs705.85 respectively.