MUMBAI: Ganesh Jain, who served PPL (Phonographic Performance Limited) for four years will now be succeeded by Sony Music Entertainment’s India & Middle East president Shridhar Subramaniam. It was a unanimous decision by the board of directors which represents labels like Saregama, Universal Music, Tips, Venus and Aditya Music.
However, news of PPL’s president of honour V.J. Lazarus’ departure from the licensing company comes as a big surprise considering he has been with PPL for the last 10 years. Lazarus will conclude his long innings with PPL in March 2016.
Lazarus has been in the industry for 45 years, during which he served as Universal Music India MD and later as chairman for the first 35 years, after which he moved on to PPL. Commenting on his departure, Lazarus added, “I will dedicate these final six months of my tenure to facilitate and support chairman Shridhar Subramaniam, the PPL board and the management through this transition.”
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Venus Worldwide Entertainment Private Limited’s managing director Jain was elected twice for a period of four years, before Subramaniam was elected. Commenting on the new appointment, Jain said, “It gives me great pleasure to pass on the baton to a stalwart of the music industry. I believe Shridhar with his unique ability and experience will steer the industry successfully into the next phase of expansion.”
Subramaniam’s appointment comes at a time when there is growing concern about the rights holder company in the country. For the last four years, the music industry has been facing fluctuating revenues; however, it is back on track and is expected to cross the Rs 1000 crore mark by 2020.
Commenting on his appointment, Subramaniam said, “These are exciting times. The industry has great opportunities as well as challenges ahead and with the help of the board and management, I hope to bring a sense of optimism and inclusiveness to PPL and the industry and I am confident that we will collectively build the foundations for a strong future.”
In the statement issued by PPL, board of directors’ Universal Music Group South Asia Managing Director and CEO Devraj Sanyal, Tips Industries MD Kumar Taurani, Saregama India Limited MD Vikram Mehra, Aditya Music Chairman Umesh Gupta, have expressed their whole hearted support to Subramaniam.
The Indian licensing arm has been administering the public performance and broadcasting rights on behalf of over 200 members, which include leading music companies Saregama, Sony, Universal, Tips, Venus, Aditya Music, Times Music, Eros, Music Today and several other prominent national and regional labels. Mumbai headquartered PPL, has offices in over 20 other cities.
