T-Series gets music rights of 14 UTV films for Rs 30 cr
Music label major T-Series has acquired 14 films from UTV for about Rs 30 crore. This is a first-of-its-kind deal as bulk deals are uncommon in the music industry.
By Sonali Krishna, ET Bureau |
MUMBAI: Music label major T-Series has acquired 14 films from UTV for about Rs 30 crore. This is a first-of-its-kind deal as bulk deals are uncommon in the music industry. The deal includes Rakeysh Omprakash Mehra���s Dilli 6, the Salman-Kareena starrer Main Aur Mrs Khanna, Fashion, Anurag Kashyap���s Dev D, Oye Lucky and Bombay Meri Jaan, to name a few.
���This is certainly one of the biggest deals that the music industry has witnessed so far,��� said UTV CEO Siddharth Roy Kapoor. He did not divulge any commercial details. T-Series head honcho Bhushan Kumar said: ���Usually, music companies do not get into bulk deals, but since we share a good equation with UTV, we decided to get into a long-term multiple deal.���
The move also signifies the growing competition in the music industry, with several music firms competing with each other for the same slate of movies. ���By getting into large bulk deals, we manage to corner a larger share of titles,��� added Mr Kumar.
Music has become a key component of Bollywood, as it plays a critical role in a film���s success. T-Series has a slate of films lined up for the next quarter and the line-up has been strengthened with this acquisition. The aim is to ensure a dominant market share in the coming years.
The deal may mark the beginning of a trend where production houses will get into bulk deals with music companies and may look at strategic alliances to ensure a continuous pipeline of music. The deal with UTV includes physical and digital music publishing rights of the films. UTV���s recently-launched digital music arm will not have any access to the publishing rights of the 14 films.
���This is certainly one of the biggest deals that the music industry has witnessed so far,��� said UTV CEO Siddharth Roy Kapoor. He did not divulge any commercial details. T-Series head honcho Bhushan Kumar said: ���Usually, music companies do not get into bulk deals, but since we share a good equation with UTV, we decided to get into a long-term multiple deal.���
The move also signifies the growing competition in the music industry, with several music firms competing with each other for the same slate of movies. ���By getting into large bulk deals, we manage to corner a larger share of titles,��� added Mr Kumar.
Music has become a key component of Bollywood, as it plays a critical role in a film���s success. T-Series has a slate of films lined up for the next quarter and the line-up has been strengthened with this acquisition. The aim is to ensure a dominant market share in the coming years.
The deal may mark the beginning of a trend where production houses will get into bulk deals with music companies and may look at strategic alliances to ensure a continuous pipeline of music. The deal with UTV includes physical and digital music publishing rights of the films. UTV���s recently-launched digital music arm will not have any access to the publishing rights of the 14 films.
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