Saregama will acquire 51.8 percent shares for approximately 174 crores with a clear path to further acquire another approximately 41percent stake in next 15 months at pre-agreed multiples. The transaction is an all-cash deal, the company announced through an exchange filing.
About Pocket Aces
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 crore in FY23. Revenue has grown by 34 percent CAGR over the last 4 years and is expected to grow even faster in the future.
Avarna Jain, Vice Chairperson Saregama, 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."