Kala Music, a leading Indian music company that is owned by the family of Indian billionaire Mukesh Ambani, has become the biggest player in the Indian music market.
The company, which has a total revenue of $14 billion, is the fourth-largest music company in India, according to the latest data by comScore, the music analytics company.
The largest music companies include Anheuser-Busch InBev, Warner Music Group, Sony Music Entertainment and Sony Music India, all owned by Mukesh.
The data showed that Kala’s music revenue, which includes licensing fees, album sales and sales of music-related products, reached $14.5 billion in 2016, the biggest year-on-year increase in Indian music revenues since the company was launched in 1997.
The Indian music industry has grown at a faster rate than the global economy in recent years.
The country has recorded more than 1.7 billion music downloads and 6 billion music videos, the latest numbers show.
The market in India is also increasingly saturated, with digital music streaming becoming a major player, according, according TOI.