MUMBAI: Music major Saregama will consolidate its position and investment in the digital space in 2013, a top official has said. The label has 15-20 per cent share in the digital music market, worth approximately Rs 6 billion, and establishing its presence in the nascent but exciting vertical will be a priority for the company which has set goals to become a ‘digital major’ in the next two years.
Confirming the decision with Radioandmusic.com, Saregama business head music Adarsh Gupta said, “We will consolidate our position in the digital space in 2013 and enhance our content capability.”
Digital today contributes about 70 per cent of the label’s revenue and has in place a new 100 member digital team for the domestic and overseas markets, which the company says will set an industry bench mark.
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The label’s presence in various segments within the digital space include WAP, CRBT, Moble Radio, Internet based services, Device manufacturers and DTH.
The label has one of the largest music libraries in the country with over 3,00,000 songs across more than 24 genres. It has released 300 tracks on the platform this year and using the digital platform to promote its artists.
“In all 2012 has been a good year in terms of revenue, profitability and strategy. The industry faced challenges from the Telephone Regulatory Authority of India (TRAI) threatening revenues and radio royalties going down. But why we manage to do better than the industry is due to our digital segment,” Gupta said.
The company will also increase its portfolio of music and artists repertoire across the board that will include Bollywood, South Indian films, Classical, Sufi, Ghazal and pop categories.
