Saregama India plans to invest up to Rs 750 cr in music businessJanuary 31, 2022
Saregama India, a part of RP-Sanjiv Goenka Group, is planning to invest up to Rs 750 crore in its music business to achieve a 25-30 per cent revenue growth in the next few years through organic and inorganic routes, an official said.
It is also foraying into a new business segment of artiste partner programme to launch their music videos and audios on its platforms with an arrangement of sharing revenue, he told analysts.
The fund (of up to Rs 750 crore) is only for the music business. This is not going to be used for our films or our Carvaan business. Other businesses are well capitalised and they will be able to manage to run on their own…. Our projection of 25-30 per cent revenue growth that we are giving is a combination of both organic, new content purchases, and some inorganic purchases,” the official said.
On music licencing and the film business, the company is also looking at 25-30 per cent growth next year, he said.
Saregama announced its partner programme for all singers and musicians wanting to do covers, recreations and remakes of its catalogue across all languages.
“The company has categorised partnerships into three segments. The first is Diamond plus for which revenue share is 20 per cent, while Diamond revenue share will be 10 per cent and for the gold category, which is only for audio, it is also 10 per cent,” the official added.