New Delhi, Aug. 13 -- Tepid growth in paid subscriptions and increasing content creation costs are pushing music labels to step up consolidation efforts in the industry. Experts say this is a relatively easy way to expand libraries and improve market share.

Entering newer realms brings an opportunity to collaborate with more artists, many of whom are well known in smaller, specific markets, improving their monetisation as well.

Saregama's acquisition of NAV Records, a Haryanvi music catalogue, last month shows how players are looking at unlocking potential in newer languages.

This June, Sony Music India announced a strategic joint venture with LA-based global entertainment firm The Hello Group (THG) to form THG India, designed to help ...