The second is to create a platform on the back of Carvaan to talk to the 35+ age group. 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. 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. Proliferation of smartphones and cheap data has led to a huge increase in the consumption of content and digital is pushing this explosion. “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. 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. Its music licensing revenue in FY21 went up by 20%. 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. 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. Over the last few decades, the company has forayed into retailing music through physical and digital mediums. 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. The company which started as a music label company in 1902 has today gone much beyond that. Since then, Saregama has kept innovating on not just Carvaan but also on its other offerings. That was the insight that gave birth to Carvaan, Saregama’s popular portable retro music player. People who wanted to listen to retro music were not able to access them easily.
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