Why Saregama acquired ownership in digital entertainment company Pocket Aces

Saregama, an Indian music label, has acquired a 518% stake in Mumbai-based digital entertainment company, Pocket Aces Pictures Private Limited, for Rs 174 crore.

Pocket Aces reaches over 95 million digital users across Instagram, YouTube, and other platforms and has an IP catalogue of over 3000 content pieces

The acquisition will add a whole new dimension of IP and a distribution network of over 95 million followers, which the music label will leverage to further popularize its music library among the 18-35 audience segment

The all-cash deal is meant to help the Indian music label to strengthen its strategic ambition to take a leadership position in New Music across all Indian languages

Pocket Acess, which owns brands like Dice Media, Filter Copy, Loco, and Gobble, has revenue from operations of Rs 104 crore in FY23 and is expected to grow even faster in future

It will also create synergies across the artiste & influencer management and long-format video creation businesses of the two companies

The acquisition signifies the confluence of tradition and innovation as Saregama will tap into the burgeoning young digital audiences

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