RP Sanjiv Goenka Group-controlled Saregama has launched its online music purchase store.
The move is expected to boost retail sales that were affected by decline in customer interest in CDs and, will also help control music piracy. The group has already made an exit from “Music World” (the brick and mortar music retailing business) in 2013.
Customers can now login to “www.saregama.com” to listen and purchase songs. Payments can be made through credit cards, debit cards, and via Net banking.
According to Vikram Mehra, Managing Director, Saregama, the company is also looking at coming out with its own mobile app – for music purchase – across the Android and iOS platforms. Apps are expected to be launched over the next 45-odd days. “So far we have been looked at mainly as a business-to-business company. We are now looking to reach out directly to the customer. And the online music store will help us strengthen the offerings. With data reliability and costs being an issue, music ownership and purchase, we believe, has still got a pull in the market,” he told
According to Mehra, online music sales will contribute “a substantial chunk” of the business in the days to come.
Saregama reported a net income from operations to the tune of ₹186.53 crore for FY15 against ₹177.49 crore in the year-ago period.
TV businessWhile music (sales, royalty and licensing fees) accounts for 65 per cent, television contributes the remaining 35 per cent. Meanwhile, the company has also ramped up its television content management team with two recent appointments at the senior level.
It currently has seven shows running, four on Sun TV and three across the Hindi general entertainment channels, including Doordarshan – two on DD and one on Life OK.
This apart, it has three upcoming television shows – two on the mainline general entertainment channels and one on DD.