Saregama India plans to invest up to ₹750cr in music business
CALCULATED : Saregama India, part of RP-Sanjiv Goenka Group, plans to invest up to ₹750 crores in its music business to achieve 25-30% revenue growth over the next few years through organic and inorganic channels, an official said.
It is also foraying into a new business segment of the artist partner program to launch their music videos and audios on its platforms with a revenue-sharing arrangement, he told analysts.
“The fund (up to ₹750 crore) is only for the music business. This is not going to be used for our films or our Carvaan business. Other companies are well capitalized and will be able to fend for themselves… Our projection of 25-30% revenue growth that we offer is a combination of organic new content purchases and some inorganic purchases. “, said the official.
Regarding music licensing and the film business, the company also expects 25 to 30 percent growth next year, he said.
Saregama has announced its partnership program for all singers and musicians wishing to do covers, recreations and remakes of its catalog in all languages. “The company has categorized partnerships into three segments.
The first is Diamond plus for which the revenue share is 20%, while Diamond’s revenue share will be 10% and for the gold category, which is only for audio, it is also 10%” , added the manager.
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