Music Label spurns 600 Crore Deal from Dharma Productions
Music Label spurns 600 Crore Deal from Dharma Productions
India’s preferred music label, Saregama, has made a bold statement by spurning Dharma Productions’ ₹600 crore offer for a 51% stake. Founded in 1901, Saregama is the country’s oldest music label, which boasts of an unparalleled collection of timeless classics from legendary singers Lata Mangeshkar, Kishore Kumar, and Music Composer AR. Rahman.
Saregama’s intent reflects its commitment to maintain independence and control over its vast library of music spanning over a century. The label’s rich history and cultural significance make it more than just a business, it’s a symbol of India’s musical heritage. By spurning the offer, Saregama emphasizes the noteworthiness of its autonomy and role in India’s cultural identity
According to Industry insiders’ belief, Saregama’s long-term vision involves expanding its digital presence and leveraging its library through streaming platforms. The label has already made strides in this direction, making its content accessible on social media, streaming platforms, and its Saregama Carvaan portable player.
Saregama’s decline to part with a majority stake to Dharma Productions showcases the company’s strong sense of identity and responsibility towards preserving India’s musical culture. As the music industry evolves, Saregama’s decision sends a clear message: some legacies are priceless.
News Edit KV Raman
