Saregama inks 12-film output deal with leading broadcaster
MUMBAI: Film and music content company Saregama has inked a 12-film output deal with a leading Indian broadcaster/digital platform. The company also said that another deal on the cards.
In Q3 FY19, the company had released ‘Ashcharya Chakit’ as a Netflix original film. Another film ‘Music Teacher’ will soon be released on Netflix as an original film. The movie had a world premiere at Chicago Asian film festival besides being showcased at Houston Film Festival.
The company also stated that its new show ‘Roja’ continues to be a top-rated show in the afternoon band. The show is expected to move to a prime time slot. ‘Valli is in its 6th year of the telecast and is the longest running serial in Sun TV while Jo Jo Laali (Kannada show) has completed 465 episodes.
Saregama will be launching a new show.
The company’s Q3 net profit has dropped by 18% to Rs 12.3 crore as against Rs 15 crore in the same quarter of the previous fiscal. EBITDA increased by 3% at Rs 23.8 crore compared to Rs 23.2 crore.
Revenue increased 9% to Rs 150.6 crore compared to Rs 138.4 crore in the previous fiscal. Music revenue was up 10% at Rs 138.5 crore while the TV revenue remained flat at Rs 12.1 crore. Expenses jumped 14% to Rs 13.37 crore from Rs 11.75 crore.
Buoyed by the festive season, the sales of Carvaan and its variants has grown by 30 % over the last quarter, selling 297 K units in this duration.