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Tag: Avarna Jain

  • RPSG Lifestyle Media and Penske Media Corporation announce the launch of The Hollywood Reporter India

    RPSG Lifestyle Media and Penske Media Corporation announce the launch of The Hollywood Reporter India

    Mumbai: The Hollywood Reporter (THR) is an authoritative and preeminent entertainment publication with a focus on film, television, and entertainment, offering in-depth reporting, analysis, and thought-provoking reviews across its award-winning weekly magazine and dynamic website. Known for its access to the American entertainment industry, it is considered the definitive voice among industry leaders and pop culture fans.

    RPSG Lifestyle Media chairperson Avarna Jain outlined the unique approach THR India plans to take. “Hollywood is home to one of the world’s oldest film industries and is the genesis for the multitude of local names that filmmaking communities enjoy all over the world,” she said. “The Hollywood Reporter India will be the first Indian publication that will look at the Indian entertainment industry as a whole. It will celebrate cinematic creativity across languages, regions and platforms, including OTT, digital and theatre. Hollywood may be the oldest, but India is the world’s biggest filmmaking industry and THR India will celebrate that.”

    “This partnership signifies our continued commitment to fostering global connections and celebrating the culture, vibrancy, and robust entertainment business in India,” said The Hollywood Reporter executive vice president and co-publisher Elisabeth Rabishaw.

    “We’re excited to embark on this journey with the THR India team and bring our editorial voice to the process as we showcase and amplify India’s rich and compelling entertainment industry on an international stage,” said The Hollywood Reporter co-editor-in-chief  Nekesa Mumbi Moody.

    Currently, The Hollywood Reporter has editions in the US, Italy and Japan.

    The appointment process for the editor-in-chief and other senior positions is currently underway. The date of launch will be announced shortly. 

  • Saregama acquires majority stake in Pocket Aces

    Saregama acquires majority stake in Pocket Aces

    Mumbai: A new chapter in Saregama’s growth story commences with a majority acquisition in a fast-growing digital entertainment company Pocket Aces Pictures Pvt Ltd, that owns direct relationships with over 95M younger digital-first customers across Instagram, YouTube, etc. Saregama will acquire 51.8 per cent shares for Rs  174 crores with a clear path to further acquire another 41 per cent stake in the next 15 months at pre-agreed multiples. The transaction is an all-cash deal.

    This acquisition will further strengthen Saregama’s strategic ambiton to take leadership position in new music across all Indian languages.  

    Pocket Aces, a youth-focussed digital content creator and publisher, boasts of an IP catalog of over 3000  content pieces ranging across web series, sketches, music videos and reels on its channels FilterCopy, Nutshell and Gobble, and releases over 30 new pieces of content every day. The company’s talent management arm, Clout, manages over 100 digital influencers, and its long-form studio, Dice Media, has created relatable youth-centric web series across OTT platforms such as Netflix, Hotstar, and Amazon.

    Pocket Aces’ revenue from operations was Rs 104 cr in FY23. Revenue has grown by 34 per cent CAGR over the last 4 years and is expected to grow even faster in future.

    Acquiring Pocket Aces will add on 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.

    Saregama vice chairperson Avarna Jain 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.”