Entertainment major Saregama India today said it has partnered ‘Home Entertainment Services by Sony DADC’, under which the latter will undertake sales, marketing and distribution of content on its behalf across all the physical formats like CDs and DVDs.
The move will help BSE-listed Saregama sharpen its focus on digital distribution of content it manages that spans across genres like Bollywood, Hindustani classical, instrumental, Carnatic and regional. Saregama has rights to more than 1.5 lakh tracks in 18 Indian languages in its library.
“Though everyone keeps talking of digital, we believe that no format ever dies. While digital formats form a big part of our business, we are also confident that physical business is here to stay. People still talk of cutting CDs and that gives us the confidence that with Sony DADC, we will be able to grow the physical format,” Saregama India Managing Director Surya Mantha told reporters here.
He added that under the three-year association, Sony DADC will take on the exclusive worldwide exploitation of the entire Saregama audio/video library including sales, marketing and distribution across all physical formats.
“This will also help us focus on Artist and Repertoire (A&R) and building our digital formats and technology platforms (like CRBT and WAP),” he said.
About 70 per cent of the company’s revenues come from digital format while the remaining is from physical formats.
For the fiscal ended March 31, 2013, Saregama’s net profit stood at Rs 8.11 crore, while its revenues were Rs 185.99 crore.