Universal Music Launches Official Merchandise for More Revenues
Mumbai: Fans of international singers/ performers like Bob Marley, Justin Bieber, Lady Gaga or bands like The Rolling Stones, Queen and Guns N Roses can now buy the official and quality merchandise featuring their favourite artists.
Universal Music India (UMI), part of Universal Music Group (UMG), which owns the largest library of international music, is opening up a new revenue stream in India with launch of its entire music merchandise collection in the country. While the company already has a presence in music label, live music and branded solutions, its merchandising was so far restricted to apparels, like T-shirts. Moreover, the big pirated or knock-off market never allowed the merchandise business to grow. “We had launched merchandise (tshirts) three years back here in India, but the problem is that pretty much everything pirated is available at cheaper cost,” Devraj Sanyal, MD and CEO, Universal Music Group, South Asia told ET. He, however, added that now the company is trying to bring in price parity, so that the official and high-quality products will be available at affordable price.
“We have seen that while India remains a price sensitive market, people are opening up to the idea of paying for the premium experience. Especially our target audience, 18-35 year old, wants to be seen as cool. They are the ones who would want a Rolling Stone or Guns N Roses phones or laptop covers and more,” Sanyal said. The product range launched includes apparel, home accessories (coasters, cushion covers, mugs and magnets), tech accessories, and posters and canvas prints.
Soon to be launched product ranges include caps, belts, eye wear, boxers and flip flops.
The products will span across a wide range of artists and bands including contemporary stars like Justin Bieber, Katy Perry, Lady Gaga, Eminem, 5 Seconds Of Summer, Imagine Dragons, Lil Wayne, Swedish House Mafia, Axwell to some of the greatest `classic’ artists / bands like The Rolling Stones, The Doors, Bob Marley, Queen, Guns N Roses, Mark Knopfler, Jimi Hendrix, Black Sabbath, John Coltrane and Green Day.
Universal Music India will be the only record label in the country to launch its own official international music merchandising line.
The company has kept pricing of tshirts between .₹ 599 – 899, fleeces and hoodies –under .₹ 1799 and other accessories between .₹ 249 to .₹ 2,999.
The products are now available across platforms like Amazon, Jabong, Flipkart, Voxpop, Cilory, Myntra and retail stores like Landmark, Lifestyle, Crossword and Central.
Universal Music’s brand merchandising was restricted so far to apparel