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<ul><li>Saregama sees 25% Q-o-Q growth in consolidated revenue from operations</li><li>Licensing Income continued on its growth trajectory and registered 21% growth in revenue on Y-o-Y basis in H1 FY20.</li><li>In spite of lower footfalls in Consumer Durable and Telecom outlets during this festival season, Carvaan sales managed to grow. The number of units sold went up by 14% Q-o-Q to 250 K, and 19% on half yearly basis to 469K</li></ul>One of India’s oldest music labels and the youngest movie studio, Saregama, recorded a 25% jump in its consolidated Revenue from Operations in the second quarter to ₹1575 million as compared to ₹1259 million in the first quarter. On the other hand, Saregama a consolidated PAT for the second quarter as ₹194 million in comparison to ₹12 million in last quarter and ₹157 million in last year same quarter. The music label’s licensing Income continued on its growth trajectory and registered a 21% growth in revenue on Y-o-Y basis in H1 FY20. In spite of lower footfalls in Consumer Durable and Telecom outlets during this festival season, Carvaan sales managed to grow. The number of units sold went up by 14% Q-o-Q to ₹2,50,000, and 19% on half yearly basis to ₹4,69,000. The company continued its focus on increasing its penetration in mid and small-towns through awareness campaign and distribution network expansion. This was a great quarter for the films division, Yoodlee, which licensed 4 movies during this quarter; out of which 2 movies were delivered to Hotstar.

Saregama’s revenue jumps 25% in Q2 FY20 from ₹1259 Million to ₹1575 Million

<ul><li><keyword id="106741" type="CITY" weightage="20" keywordseo="Saregama">Saregama</keyword> recently announced its result. Its PAT for Q4 stood at Rs 372 million, which was a 151% growth compared to the same quarter last year.</li><li>Over the years, the company has transitioned from being a music label to today creating IPs in the form of music, films and TV series, along with manufacturing and innovating on its portable music player, <keyword id="4504073" type="PERSON" weightage="20" keywordseo="carvaan">Carvaan</keyword>.</li><li><keyword id="160511" type="PERSON" weightage="20" keywordseo="Vikram-Mehra">Vikram Mehra</keyword>, Managing Director, Saregama India tells us how the company has managed to stay relevant even after being in existence for close to 120 years, and all that it is doing to make sure it stays relevant for the next few decades too.</li></ul>Four years ago, Saregama realized a need gap in the 40+ age group when it came to consuming music. People who wanted to listen to retro music were not able to access them easily. Many missed the good old days of Radio. That was the insight that gave birth to Carvaan, Saregama’s popular portable retro music player. Since then, Saregama has kept innovating on not just Carvaan but also on its other offerings. The company which started as a music label company in 1902 has today gone much beyond that. Today, its portfolio includes intellectual property rights of over 4000 hours of TV content produced for channels in languages including Hindi, Tamil, Telugu, Kannada, Malayalam and Bengali. Over the last few decades, the company has forayed into retailing music through physical and digital mediums. The company now also has a film production unit, Yoodlee Films and it is this diversification of its offering that has helped it not just weather the storm of 2020, but also be ready for the future. In its recently released results, the company said that its Profit after Tax (PAT) for Q4 stood at Rs 372 million, which was a 151% growth compared to the same quarter last year. Its <keyword id="1159047" type="PERSON" weightage="20" keywordseo="Music-Licensing">music licensing</keyword> revenue in FY21 went up by 20%. While it has been a difficult year for many businesses, Saregama’s efforts at expanding its portfolio over the last few years is now paying off. “The biggest transition that has happened for Saregama is that from an old-world company that used to be the custodian of music, we are today a new-age company, which is riding on the digital wave, in India and globally. Proliferation of smartphones and cheap data has led to a huge increase in the consumption of content and digital is pushing this explosion. And as Saregama, we are now sitting at the heart of all the action, be it with our music, our films or TV series,” said Vikram Mehra, MD, Saregama India. Right now, the company is primarily focusing on two things, the creation of IPs, be it as music, films or TV series, and monetizing them. The second is to create a platform on the back of Carvaan to talk to the 35+ age group. While the original Carvaan was aimed at an older age group, the company is now innovating to make it attractive to a younger audience too. Last year, it had launched a Karaoke variant to appeal to the 35+ age group. Its Carvaan 2.0 version, which comes with thousands of pre-loaded songs, also supports podcasts now. On how it has been able to stay relevant, despite being an almost 120-year-old company, Mehra said, “How you think as a company makes a lot of difference. In recent times, the average age of the company has gone down steeply. We are getting younger people on board who understand the new world better and asking them to guide us.” The company is also working on the acquisition of new content aggressively. It recently announced that it has acquired the music of a series of big-ticket movies which include <keyword id="6358308" type="PERSON" weightage="20" keywordseo="Sanjay-Leela-Bhansali">Sanjay Leela Bhansali</keyword>’s upcoming movie, Gangubai Kathiawadi along with his next movie, Akshay Kumar starrer Bell Bottom and Ajay Devgn’s Maidaan. Saregama has also acquired the rights of the yet unnamed official adaptation of the cult blockbuster, Anniyan, which will be directed by Shankar and will feature actor Ranveer Singh. Last year, Saregama also struck licensing deals with Facebook, Spotify and Triller. Its music is now also available on various short video platforms like Moj and Josh where people can use them to create their content. Saregama is also heavily investing on regional music. “Saregama is one of the oldest music labels in the country and we have relationships in every music and film market in the country. Because of our legacy, we are harnessing those relationships and entering into Gujarati, Bhojpuri, Punjabi, Tamil, Telugu and Hindi music. Our aim is to create enough content so that the kids of today who are going to consume content will keep on listening to this content for another 50 years,” he explained. Last year, the lockdown also meant people were stuck at home. So while the sale of Carvaan, which is a product people want to experience before buying, saw a hit, its kids variant Carvaan Mini Kids saw impressive growth. “This is a product we have never marketed and yet it is the fastest selling Mini for us,” he added. Overall, Carvaan sold 1,10,000 units in Q4 FY21, despite retail sale having been massively impacted by the pandemic. With the addition of a podcast feature on Carvaan 2.0, Mehra is confident of the monetization opportunities it opens up for them. “For us, till now, Carvaan was a one-time margin product, similar to say a refrigerator that you sell once and make money out of it and that’s it. Now with podcasts coming in, it creates a huge opportunity for us as a platform to start generating advertising or subscription revenue,” he explained. Mehra is also not stuck on getting Carvaan-only exclusive podcasts. “Our model is a little different. As a company, we are telling podcasters to bring their podcasts to us on a non-exclusive basis. And if ever we make revenue off of it, we plan to share 40% of it with the content partner,” he added. If things go as planned, Saregama plans to start monetizing its podcasts in the next 2-3 years.

The almost 120-year-old Saregama is ready for the future; here is how it is transitioning to stay relevant for the next few decades

<ul><li><keyword id="106741" type="CITY" weightage="20" keywordseo="Saregama">Saregama</keyword>, India’s oldest music label, signed a deal with Facebook on June 3.</li><li>For the fourth quarter of FY20, profits for the company fell from ₹165 million in Q4FY19 to ₹148 million this year. </li><li>However, even after the profit fell, the shares of the company were up by 10%. </li></ul>Saregama, India’s oldest music label, has signed a global licensing deal with Facebook and Instagram and now, the market is dancing to its tune. Ever since the deal has been signed on June 3 morning, the share price is up by 56%. The share price surged 10% on Friday despite a 10% fall in quarterly profit to ₹16.5 crore. The company, which takes the credit for India’s first recorded song in 1902 ⁠— it was called Gramophone company of India then and was later known as HMV ⁠— saw its music revenue drop by 19% in Jan-March 2020 compared to the same time last year. <div type="image" title="saregama." msid="76215894" hostid="261"></div> Saregama has over 100,000 songs across genres including film songs, devotional music, ghazals &amp; indipop in more than 25 languages. And now, these songs can be accessed by Facebook and Instagram users. “Millions of Facebook users will be able to add music from our vast catalogue to stories and videos they create and share,” said Vikram Mehra, Managing Director of Saregama India in a statement. Social media is the future, TV is the current driver The revenue from its television and films division jumped 39% year-on-year. “This was a good year for the film division, Yoodlee, which licensed 6 movies during this year. Three of these were delivered to Hotstar as Hotstar Originals and the other three to Netflix. One of the Yoodlee films, Hamid, won two National Film Awards while another film, Kanpuriye, won the Talentrack award,” said the company. The company has said that the next quarter revenue could be hit because of no new production since March due to stop in shooting during lockdown. And that could be the reason why the Kolkata-based music label is betting on its digital push. Since the beginning of FY21, it has signed deals with <keyword id="685487" type="COMPANY" weightage="20" keywordseo="Spotify">Spotify</keyword>, Facebook and Instagram. One of its flagship products – Carvaan radio saw its sales fall to an all time low in the past six quarters with just 74,000 units sold in Q4FY20. The company said that the reason for this was corporate buying went to zero, electronic chains and big distributors reduced buying from Feb onwards, retail network was in lockdown since March and the month of March typically contributes 50% of Q4 sales. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/sbi-share-price-gains-as-sbi-cards-share-sale-boosts-profit/articleshow/76214619.cms">India's largest bank's profit spikes thanks to SBI Cards share sale⁠— bad loans are under control</a> <a href="https://www.businessinsider.in/stock-market/news/phoenix-mills-brigade-and-prestige-share-price-defer-rentals-as-malls-reopen/articleshow/76209910.cms">Phoenix Mills defers rentals for retailers as investors cheer the reopening of malls</a> <a href="https://www.businessinsider.in/business/news/from-softbank-to-googles-waymo-all-you-need-to-know-about-reliance-jios-latest-investor-mubadala-investment-company/articleshow/76207469.cms">From SoftBank to Google's Waymo – all you need to know about Reliance Jio's latest investor Mubadala's investments</a>

This 119-year old Indian music label is riding the Facebook wave – shares are up 56% since the deal with the social media giant

<ul><li>The Sanjiv Goenka-led RPSG group has bagged the Lucknow franchise of the IPL.</li><li>Goenka is happy about the purchase and confident that the investment will be profitable.</li><li>Here’s everything you need to know about the Kolkata-based business tycoon.</li></ul>The Sanjiv Goenka-led RP-Sanjiv Goenka Group (RPSG) has bagged the new Lucknow franchise in the cash-rich Indian Premier League (IPL) for a whopping ₹7,090 crore – close to a billion dollars – marking a return for the company to the world's biggest T20 league. The RPSG group was founded by <keyword id="6355523" type="General" weightage="20" keywordseo="sanjiv-goenka" source="Orion">Sanjiv Goenka</keyword> in 2011, after RPG Enterprises, founded by his father Rama Prasad Goenka, was divided between Sanjiv and Harsh Goenka. The RPSG group is a Kolkata-based conglomerate and its major businesses include CESC, a power generation and distribution company, the 120-year-old music company Saregama and the recently launched snacks brand Too Yumm! The company also operates Spencer’s retail chain, Nature’s Basket, Woodlands Hospital, Harrisons Malayalam and several other companies, making it a total of 22 companies. According to <a href="https://www.forbes.com/profile/sanjiv-goenka/?sh=541d14966301">Forbes</a>, Sanjiv Goenka has a net worth of $2.7B (approx. ₹20,250 crore). The RPSG group reported a revenue of ₹26,634 crore as on March 31, 2021 and has assets worth over ₹47,000 crore. <cmsannotation type="cmsannotation" annotationid="Goenka’s love for sports" comment="subhead" text="Goenka’s love for sports">Goenka’s love for sports</cmsannotation> For Sanjiv Goenka, winning the bid for Lucknow may not be just an investment. Goenka’s love for sports is evident from his other ventures as well. <div type="image" title="E5E3B7AD-FE67-4B15-87BE-3FE36E975B49" msid="87277605" hostid="261" caption="&amp;lt;p&amp;gt;Sanjiv Goenka with Robbie Keane.&amp;lt;/p&amp;gt;"></div> Sanjiv Goenka holds a stake in the ATK Mohun Bagan football club, which is a part of the Indian Super League (ISL). Sourav Ganguly, the president of the Board of Control for Cricket in India (BCCI) is also a co-owner of the ATK Mohun Bagan. The group is also involved in table tennis and owns the RPSG Mavericks Kolkata, which is part of India’s biggest table tennis league, the Ultimate Table Tennis League. <cmsannotation type="cmsannotation" annotationid="Sanjiv Goenka’s second stint in IPL" comment="subhead" text="Sanjiv Goenka’s second stint in IPL">Sanjiv Goenka’s second stint in IPL</cmsannotation> <div type="image" title="4A1F6760-2CCE-41A2-A1E1-4D8BDC7B4640" msid="87277431" hostid="261" caption="&amp;lt;p&amp;gt;Sanjiv Goenka in Rising Pune Super Giants jersey.&amp;lt;/p&amp;gt;"></div> Sanjiv Goenka’s RPSG is no stranger to the Indian Premier League – it had a two-year stint in the IPL after it bagged the Rising Pune Supergiant franchise for IPL 2016 and 2017, after Chennai Super Kings and Rajasthan Royals were suspended from the tournament for two years. Since 2017, Goenka has been eyeing a return to the IPL. In 2016, the team had an average outing, ending up seventh on the table with just five wins. After this, Goenka took the bold decision of dropping Mahendra Singh Dhoni from captaincy and handed over the reins to Steve Smith. This decision turned out well for the team and the team went on to the finals, losing the title to Mukesh Ambani’s Mumbai Indians by the barest of margins – just 1 run. Goenka has returned to IPL with the acquisition of IPL’s latest franchise, Lucknow. The RPSG group had bid for Lucknow, Ahmedabad and Indore. <cmsannotation type="cmsannotation" annotationid="We’ve done our math, says Goenka" comment="subhead" text="We’ve done our math, says Goenka">We’ve done our math, says Goenka</cmsannotation> Soon after the BCCI announced that the RPSG group had won the bid for the Lucknow franchise, Goenka spoke to Cricbuzz. Here are some of the key takeaways from the <a href="https://www.cricbuzz.com/cricket-news/119559/weve-done-our-math-sanjeev-goenka-after-7090-cr-bid-cricbuzzcom">interview</a>. Speaking about why the group selected Lucknow despite winning the bid for both Ahmedabad and Lucknow, Goenka said, “We have operations in Uttar Pradesh. We do power distribution there. We have a very big presence in the northern state. Closer by in Chandigarh, we have the power distribution rights. So for North India, that becomes like a hinterland.” Goenka also revealed the math behind the decision to bid over ₹7,000 crore for the team. “I will probably be paying only ₹3,500 crore in 10 years. It is because I will be getting ₹3,500 crore from the BCCI from the broadcast rights. In the next five years, I may get more [from the BCCI]. The net present value of that is ₹2,100 crore. That means I have got an IPL team for ₹2,100 crore. Tell me, is it good or not?”. In an <a href="https://www.moneycontrol.com/news/business/expect-lucknow-ipl-team-to-command-rs-10000-crore-valuation-in-5-years-rpsg-groups-sanjiv-goenka-7625691.html">interview</a> to Moneycontrol, Goenka revealed that he expects the franchise to be worth over ₹10,000 crore in five years. SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/meet-girish-mathrubootham-founder-and-ceo-of-freshworks/articleshow/86453777.cms">Girish Mathrubootham, the son of a retired bank officer who built a $13 billion company in just 10 years</a> <a href="https://www.businessinsider.in/thelife/personalities/news/murali-divi-the-billionaire-scientist-behind-divis-labs-is-richer-by-6-billion-and-counting-since-the-pandemic/articleshow/86749881.cms">Murali Divi, the billionaire scientist behind Divi’s Labs, is richer by $6 billion, and counting, since the pandemic</a> <a href="https://www.businessinsider.in/business/startups/news/iron-man-vijay-shekhar-sharma-put-his-own-money-on-the-line-to-launch-paytm/articleshow/84468805.cms">‘Iron Man’ Vijay Shekhar Sharma put his own money on the line to launch Paytm — and ten years later the company is ready to go public</a>

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Saregama’s revenue jumps 25% in Q2 FY20 from ₹1259 Million to ₹1575 Million

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The almost 120-year-old Saregama is ready for the future; here is how it is transitioning to stay relevant for the next few decades

Samarpita Banerjee

This 119-year old Indian music label is riding the Facebook wave – shares are up 56% since the deal with the social media giant

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Sanjiv Goenka makes a billion dollar comeback to the world's biggest T20 stage

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