Vikram Mehra, MD, Saregama India shares his most important points of Focus for 2020. The creator of the super successful product SaregamaCarvaan now aims to take the product to the next level.
Number 1 Music Label
I think the biggest drive is to get positioned as the number one music label in Hindi, Tamil and Punjabi space, we are making large investments in all the three music industries. We want not just want to be the number one retro music company, but the number one overall music label.
Transform Carvaan from product to platform
Our second Focus in 2020 is to move the super successful Carvaanand transition it from a product to a platform. Carvaan the platform will have music and non-music podcastswith content which is owned by us or a third-party.
All other streaming applications in the market are a part of a digital application. Carvaan’s selling story has been the lean back listening experience. Everything on the device starts automatically, the listener need not go hunting; no need to discover content, everything is pre-curated. Average listening time for Carvaan is 7.5 hours daily. That’s our selling story and we want to extend that to non-music podcasts also.
We are opening this platform to any content creator, who wants to put up their content as part of Carvaan. If we ever make money on that we want to get into a revenue sharing contract with the creator. It’s a huge transition for a product sittingon pre-loaded content to a platform which is allowing brand new content and third-party content to be streamed on to it.
Films business with Yoodlee Films
Third point of Focus in 2020 for us is going to be our films business under the brand name YoodleeFilms. We have about ten films available on Netflix and Hotstar and we want to take it to the next level by making equally good films but of a larger scale. The motto of our company is that in the business of films we must use the right principles along with the right storytelling techniques and a consumer would want to go back and watch the film.
Another important area of Focus for us in our entry into live events, which is extending the magic of Carvaanthat stands for nostalgia,music and premium.We are extending that to the live concerts world. There will be a lot of live content happening from our side under the Carvaan brand.
We want to be the desired company to work for in the entertainment sector for which we will have great focus on making that happen. How do we improve employee engagement and how do we make it a better place that everybody can come out there and fulfil their dreams of building their careers, How can a 110-year-old company also become a heaven for entrepreneurs? And for that to happen you need to create the right environment so that people believe that they belong to that place and building their own dreams and the company will support them.