Universal Music Buys 50% Stake In Enchanted Valley Carnival

Posted at September 12th, 2015 | by Sarthak Vij | in Entertainment, Featured, Music Festivals, News

World’s largest music label Universal Music’s South Asian arm has acquired 50 per cent equity stake in Enchanted Valley Carnival for an undisclosed amount. This also marks the formal entry of Universal Music into the festival business space.

 

Under the deal, Universal Music India and Twisted Entertainment, which owns Enchanted Valley Carnival, have floated a 50:50 joint venture to scale up the large format experimental music festival.

 

With this, Universal is now looking to add another vertical to its existing portfolio by rolling out a camp-out music festival in the country.

 

According to Devraj Sanyal, MD and CEO of South Asia, Universal Music Group, the company will also look at expanding its footprints to the international markets such as Indonesia, the US and United Arab Emirates, among others.

 

It is also planning to introduce new formats, including an Indian classical music festival in Rajasthan and a jazz festival in New Delhi.

 

Enchanted Valley Carnival which was launched in 2013 by Twisted Entertainment combines performances, picturesque locale, adventure sports and a camping experience for an entertaining weekend. It is held in Aamby Valley every December.

 

The Director of Twisted Entertainment Mr. Shoven Shah made the following announcement on his Social Media profile:

Here is our big announcement, Proud to announce Twisted Entertainment & Universal Music Group South Asia are now A Joint venture to co-own and co-run Enchanted Valley Carnival Super excited to welcome Bacardi Aamby Valley City & Saavn on board as our long term partners. A big thank you everyone who have been a part of this journey, friends, family, sponsors, partners and most importantly Team EVC. I’ve always dreamt of making such a huge festival & to own such a cool brand, today is when I can proudly say, its now a reality. A festival is never made by an individual, its a team effort, a team which was fairly new but super motivated in the inception to a super team which will now take this brand to the next level. Once again thank you all and its time to ‪#‎JoinTheTribe‬

 

Be prepared India. Something BIG is coming!

 

Source: VC Circle

Sarthak Vij

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