Express Computer
Home  »  News  »  Saregama acquires majority stake in India’s leading digital entertainment company Pocket Aces

Saregama acquires majority stake in India’s leading digital entertainment company Pocket Aces

0 44

A new chapter in Saregama’s growth story commences with majority acquisition in a fast-growing digital entertainment company Pocket Aces Pictures Private Limited, that owns direct relationship with 95M+ younger digital-first customers across Instagram, YouTube etc. Saregama will acquire 51.8% shares for ~Rs 174 crores with a clear path to further acquire another ~41% stake in next 15 months at pre-agreed multiples. The transaction is an all-cash deal.

This acquisition will further strengthen Saregama’s strategic ambition to take leadership position in New Music across all Indian languages.

Pocket Aces, a Youth-focussed digital content creator and publisher, boasts of an IP catalog of over 3000 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. The company’s 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.

Pocket Aces’ Revenue from Operations was Rs. 104 cr in FY23. Revenue has grown by 34% CAGR over the last 4 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 popularize its music library among the 18-35 audience segment. It will also create synergies across the artiste & influencer management and long-format video creation businesses of the two companies.

Avarna Jain, Vice Chairperson Saregama said, “This acquisition signifies the confluence of tradition and innovation. While we have always been leaders in the realm of music and media, this partnership with Pocket Aces will add new dimensions to our business as we tap into the burgeoning young digital audiences.”

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

LIVE Webinar

Digitize your HR practice with extensions to success factors

Join us for a virtual meeting on how organizations can use these extensions to not just provide a better experience to its’ employees, but also to significantly improve the efficiency of the HR processes
REGISTER NOW 
India's Leading e-Governance Summit is here!!! Attend and Know more.
Register Now!
close-image
Attend Webinar & Enhance Your Organisation's Digital Experience.
Register Now
close-image
Enable A Truly Seamless & Secure Workplace.
Register Now
close-image
Attend Inida's Largest BFSI Technology Conclave!
Register Now
close-image
Know how to protect your company in digital era.
Register Now
close-image
Protect Your Critical Assets From Well-Organized Hackers
Register Now
close-image
Find Solutions to Maintain Productivity
Register Now
close-image
Live Webinar : Improve customer experience with Voice Bots
Register Now
close-image
Live Event: Technology Day- Kerala, E- Governance Champions Awards
Register Now
close-image
Virtual Conference : Learn to Automate complex Business Processes
Register Now
close-image