RP-Sanjiv Goenka Group-owned music label Saregama has acquired a majority stake in digital entertainment company Pocket Aces Pictures Pvt Ltd. The company had already spent $20 million in 2023 to acquire 51.82% of the company. For the other half, the label giants paid around $24.9 million.
Back in September 2023, Saregama had invested in Pocket Aces, when they showed their interest to invest further $1.8 million into the startup. As per a stock exchange filing, Saregama planned to expand their stake into the startup but “deferred the future pricing to completion of certain metrics”. It seems like Pocket Aces did achieve those metrics, now that Saregama is finally taking over the company.
More on Pocket Aces, the digital content company who run FilterCopy and Dice Media
Pocket Aces Pictures Pvt. Ltd. is an youth focused digital content creating and publishing company with IP catalogue of over 3000 content pieces on its channels FilterCopy, Nutshell and Gobble. They produce more than 30 short form video content each day. With content relatable to people, mostly talking of real life issues with a funny twist, their content reaches more than 700 million viewers monthly. The company manages over 100 digital influencers through their talent management wing Clout. It’s long form studio Dice Media has created several web series’ for OTT platforms including Netflix, Disney+ Hotstar, and Amazon Prime Video.
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“Not only does this [acquisition] bolster our ability to offer bespoke end-to-end services to brands, but also helps us market our own music more effectively,” says Saregama‘s annual report. “We can see a change coming in content consumption with a marketed preference for short-form over long-form, Pocket Aces is the secret sauce that will help us transition to this newer form of content.”
As per Saregama‘s annual report, they will leverage Pocket Aces‘ distribution network of over 95 million followers to further popularize their music to the 18-35 audience segment. It will also create synergies across artist and influencer management as well as the long format video creation business of the two companies.
