Kolkata : Saregama India, a part of RP-Sanjiv Goenka Group, plans to invest up to 750 crores in its music business to achieve 25-30% revenue growth through organic over the next few years And Inorganic route, an official said.
He told analysts that it is also entering a new business segment of the artist partner program to launch its music videos and audios with a revenue sharing arrangement on its platform.
“Fund (up to 750 crores) is only for music business. It will not be used for our films or our Caravan business. Other businesses are well capitalized and would be able to run on their own… Our estimate of 25-30 per cent revenue growth that we are giving is a combination of both organic, new content PurchaseAnd some inorganic purchases,” the official said.
The company is also expecting 25-30 per cent growth in the next year on music licensing and film business, he added.
Saregama announces its collaborative program for all singers and musicians who wish to cover, entertain and remake its catalog in all languages. “The company has classified partnership in three sections.
The first is Diamond Plus for which the revenue share is 20 per cent, while the Diamond revenue share will be 10 per cent and for the Gold category, which is only for audio, it is also 10 per cent.
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