Saregama India acquires Telugu Music Catalogue; stock slips 5%

25 Jan 2022 , 01:01 PM

Saregama India Ltd. announced that the company has fully acquired over 1500+ songs belonging to 280 Telugu films released over the last two decades including songs from super-hits like RX100 and Ninnu Kori from Mango Music.

As part of the deal, Mango Music sold both audio (sound recording and publishing rights) and video rights of this massive repository to Saregama.

Continuously investing in the regional market, this acquisition of the Mango Music catalogue, will strengthen Saregama’s position in the Telugu market.

Saregama is also aggressively investing in new Telugu music. Its songs from the latest Telugu album of the movie Shyam Singha Roy have been trending across YouTube and various OTT streaming platforms. The next big Telugu film album will be Mahesh Babu starrer Sarkaru Vaari Paata.

Saregama India Ltd. (formerly known as The Gramophone Company of India Ltd.) owns the largest music archives in India, one of the biggest in the world. The ownership of nearly 50 percent of all the music ever recorded in India also makes Saregama the most authoritative repository of the country’s musical heritage. Saregama has also expanded into other branches of entertainment — publishing, film production, and digital content.

Saregama India Ltd is currently trading at Rs4,661.65 down by Rs245.35 or 5% from its previous closing of Rs4,868.95 on the BSE. The scrip opened at Rs4,888 and has touched a intraday high and low of Rs4,888 and Rs4,625.55 respectively.