Times Music Acquires Punjabi Label Catrack Entertainment

Why It Matters

The acquisition expands Times Music’s regional IP portfolio, positioning it to monetize Punjabi heritage globally and capitalize on rapid growth in India’s streaming‑driven market.

Key Takeaways

• Times Music completes third catalog acquisition after $100M Primary Wave JV
• Catrack catalog adds iconic Punjabi artists like Babbu Maan and Malkit Singh
• India's music market projected to hit $805M by 2028, fueling deals
• Primary Wave raised $2.2B for its fourth fund, backing global expansion
• Times Music's global distribution pact with Speed Records boosts Punjabi reach

Pulse Analysis

India’s music industry is entering a scaling phase, driven by rising disposable income and smartphone penetration. A joint EY‑FICCI report shows revenues climbing from $677 million in 2025 to an estimated $805 million by 2028. This growth has attracted global players—Universal Music, HYBE and Reservoir—to secure local stakes, while domestic conglomerates like The Times Group leverage strategic partnerships to capture high‑value catalog assets. The market’s appetite for regional content, especially Punjabi tracks that dominate YouTube and streaming playlists, makes catalog acquisitions a fast‑track to revenue and brand equity.

Catrack Entertainment’s catalog represents a cultural touchstone for Punjabi music, spanning the 1990s golden era with artists such as Babbu Maan, Malkit Singh and Channi Singh. Its YouTube channel, boasting over 2.36 million subscribers and 1,600 videos, provides an immediate digital distribution channel that Times Music can amplify through its global partnership with Speed Records. By integrating Catrack’s IP into its publishing and brand‑solution divisions, Times Music can monetize sync licenses, curated playlists, and emerging formats like short‑form video, extending the music’s reach beyond India to diaspora audiences worldwide.

The broader strategic backdrop is the $2.2 billion fund raised by Primary Wave for its fourth music fund, underscoring investor confidence in catalog‑driven growth. Primary Wave’s capital infusion enables Times Music to pursue further acquisitions, diversify its genre mix, and accelerate international rollout. As more Western firms chase Indian IP—evidenced by Believe’s purchase of White Hill Music—the industry is witnessing a consolidation wave that will likely standardize royalty collection, improve data analytics, and create cross‑border licensing opportunities, setting the stage for a more integrated global music ecosystem.

Deal Summary

Times Music, the Indian record label owned by The Times Group, announced the acquisition of Punjabi label Catrack Entertainment Pvt. Ltd., adding its classic catalog to its portfolio. The financial terms were not disclosed. The deal marks Times Music’s third strategic acquisition under its joint venture with Primary Wave.