Saregama acquires majority stake in Pocket Aces, a digital entertainment company

RP-Sanjiv Goenka Group-owned music label Saregama is set to acquire a digital entertainment company - Pocket Aces Pictures Pvt Ltd.

A statement announcing the deal says that, initially Saregama India will acquire 51.8% stake for Rs 174 crore with a clear path to acquire another 41% stake over the next 15 months at pre-agreed multiples. The transaction is an all-cash deal.

Saregama India Acquisition

This acquisition will further strengthen Saregama’s strategic ambition to take a leadership position in New Music across all Indian languages, the statement said.

Acquiring Pocket Aces will add a whole new dimension of IP and a distribution network of over 95 million followers, which Saregama will leverage to further popularize its music library among the 18-35 audience segment. It will also create synergies across the artiste & influencer management and long-format video
creation businesses of the two companies.

Avarna Jain, Vice Chairperson Saregama India

Avarna Jain, Vice Chairperson Saregama, said, "This acquisition signifies the confluence of tradition and innovation. While we have always been leaders in the realm of music and media, this partnership with Pocket Aces will add new dimensions to our business as we tap into the burgeoning young digital audiences."

About Pocket Aces Pictures Pvt. Ltd.

Pocket Aces is a youth-focused digital content creator and publisher, with an IP catalogue of over 3,000 content pieces ranging from web series and sketches to music videos and reels on its channels FilterCopy, Nutshell and Gobble. The company’s talent management arm, Clout, manages over 100 digital influencers, and its long-form studio, Dice Media, has created web series for OTT platforms such as Netflix, Disney+ Hotstar, and Amazon Prime Video.

Pocket Aces’ revenue from operations stood at ₹104 crore in FY23. Revenue has grown by 34% CAGR over the last 4 years.