New Delhi, Sep 29 (PTI) Digital entertainment and technology company JetSynthesys on Wednesday said it has formed an exclusive strategic partnership with US-headquartered Warner Music Group (WMG), and will invest Rs 200 crore in the Indian entertainment sector over the next three years.

With the association, JetSynthesys becomes WMG's official India partner for all things related to music label licensing and acquisition, artist management, event management, original content creation across music, short videos and films, along with mobile gaming and e-sports, it said in a statement.

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Additionally, JetSynthesys -- which has a global foray in gaming, digital entertainment, and interest-based social community platforms -- will invest Rs 200 crore in the Indian entertainment sector over the next three years to further strengthen its foothold in the space further, it added.

JetSynthesys is backed by cricket icon Sachin Tendulkar and Serum Institute's Adar Poonawalla. Last year, it had raised Rs 300 crore in funding led by Poonawalla and Kris Gopalakrishnan.

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Warner Music Group President (Emerging Markets) Perez-Soto Alfonso Javier said India is one of the strongest emerging markets globally when it comes to entertainment, across formats and verticals.

"Valued at around Rs 15 billion in 2020, the Indian music industry itself is estimated to reach Rs 23 billion by the end of 2023, according to recent industry reports. JetSynthesys has shown remarkable growth in the last few years, especially in gaming and esports and digital products and platforms," Javier added.

JetSynthesys Vice Chairman and Managing Director Rajan Navani said with a strong pulse over the changing consumer preferences and behaviour when it comes to entertainment, the companies together aim to strengthen the ecosystem and contribute to the proliferating industry by catering to the rising demand for newer entertainment avenues.

"Through this partnership, we also aim to bolster our offerings at JetSynthesys' Global Music Junction, taking it to the next level,” he added.

Rajkumar Singh, CEO of Global Music Junction -- JetSynthesys' digital entertainment venture and a leading vernacular music label in the country -- said the Indian entertainment industry has always been a bustling space and the pandemic has given it a further shot in the arm.

"Through this association and capital infusion, we aim to build the ecosystem further, strengthen existing forms of entertainment and also create newer formats. Most importantly, this will help us make Global Music Junction an even stronger entity in the vernacular music space and also scale JetSynthesys' digital entertainment arm further,” he added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)