Saregama acquires 51.8% of digital content firm Pocket Aces
SUBSCRIBE
JOBS
Custom Image
Go Back
1 year ago 06:00:08am Television

Saregama acquires 51.8% of digital content firm Pocket Aces

New Delhi,29-September-2023, By IBW Team

Saregama acquires 51.8% of digital content firm Pocket Aces

Saregama, the country’s oldest music label company owned by the RP-Sanjiv Goenka Group, yesterday announced the acquisition of a majority 51.8 per cent stake in Pocket Aces Pictures, the youth-focussed digital content creator and publisher, for Rs 174 crore in an all-cash deal.

The over 100-year-old Saregama, which was formerly known as The Gramophone Company of India, will also be picking up an additional 41 per cent in the fast-growing digital entertainment company over the next 15 months, the RPG Group statement said, adding the transaction completed is an all-cash deal, a PTI report stated.

Pocket Aces owns direct relationship with over 95 million younger digital-first customers across Instagram, Youtube, etc. and boasts of an IP catalogue of over 3,000 content pieces ranging across web series, sketches, music videos and reels on its channels Filtercopy, Nutshell and Gobble, and releases over 30 new pieces of content every day.

Its talent management arm, Clout, manages over 100 digital influencers, and its long-form studio, Dice Media, has created relatable youth-centric web series across OTT platforms such as Netflix, Hotstar, and Amazon, the statement claimed, the PTI report added.

This acquisition will further strengthen Saregama’s strategic ambition to take a leadership position in new music across all Indian languages, it added.

Pocket Aces had revenue of Rs 104 crore in FY23, which has been growing 34 per cent annually in the past four years and is expected to grow even faster in future.

Acquiring Pocket Aces will add on a whole new dimension of IP and a distribution network of over 95 million followers, which Saregama will leverage to further popularise its music library among the 18-35 age bracket audience.

The acquisition will add new dimensions to our business, which already is the market leader as we tap into the burgeoning young digital audiences, said Avarna Jain, the vice-chairperson of Saregama.


Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

Our Events

  • img
    SatCab Symposium

    SatCab symposium organized by Aavishkar Media Group is an annual event. It's a well-informed event where we have a panel discussion on the current affairs and future forecasting on our industry.

  • img
    BCS
    Ratna Awards

    BCS Ratna Award organized by Aavishkar Media Group is an annual event. In this award function, a community of our industry is honored by receiving the award for the contribution of their work.

  • img
    Chetna Yatra

    Chetna Yatra organized by Aavishkar Media Group is an annual event. Held by Dr. AK Rastogi, Chairman of Aavishkar Media Group. Pilgrimage India in his car for connecting the people of our industry.

  • img
    Imaan India Sammaan

    Imaan India Samman is an event mobilized by Aavishkar Media Group, which was launched in 2012. Giving the award to the NGOs for giving their contribution to society.

Youtube Videos