Saregama India plans to invest up to ₹750 crores in the music industry.
Saregama India Ltd, an RP Sanjiv Goenka Group company is one of the oldest music labels in India. It is one of the youngest film studios and a multi-language content producer. The company is planning to invest in its music industry to achieve a growth of 25-30% revenue through organic and inorganic modes, as said an official. It is also foraying into a new business segment of artiste partner programs to launch their music videos and audios on its platforms with an arrangement of sharing revenue, he further added.
The company is also expecting a growth of 25-30% next year. It also announced its partner program for all the singers and musicians who want to create their cover songs, remakes, etc in various languages.
A little Sneak Peak on Saregama India Ltd
Saregama India was launched in 1901 and in 1902, it released India’s very first ever recorded studio song. In the following years, the company strived and continued to be India’s sound recording and publishing copyrights of Indian music across 14 different languages.
Over time, the company expanded itself and included the intellectual property rights of over 4000 hours of TV content produced for different channels in various languages. With the advancement of technology, they started retailing music into CDs and DVDs and later through digital applications, Androids, and IOS systems.
Saregama has been making headlines again since 2017 because of its 2 products; Caravan and Yoodlee Films. Saregama Caravan is a portable digital music player which has old-Hindi songs inbuilt in them. It attempts to provide the older generation a lean-back and takes them back to the 80s or 90s. Yodlee Films is a Saregama Film venture that believes in the mantra of fearless filmmaking. Saregama India was launched for the love of music and still attempts to fulfill it.
