Indian music label Saregama in talks to acquire Pocket Aces in video push
Summary
Saregama is in talks to acquire Pocket Aces, three people familiar with the matter said, as the oldest Indian music label grows its video ambitions. The video games streaming platform Loco, which span out of Pocket Aces in 2021, is not part of the discussions, the people added, requesting anonymity as the deliberation is private. Saregama’s interest in Pocket Aces, which has raised over $20 million and counts Peak XV and 3one4 Capital among its backers, comes as the Kolkata-headquartered firm ramps up its efforts to broaden its video catalog. The 120-year-old publicly listed firm, which produces over 300 video songs in a quarter, has expanded to several new categories, including the jukebox Carvaan business, in the past decade. The startup has also licensed IPs like the show “Little Things” to Netflix and shared other content with platforms such as Jio, MX Player, Vistara, and Qatar Airways.