Latest news with #VikramMehra
Economic Times
25-05-2025
- Business
- Economic Times
Music labels seek new track as streaming hits paywall
Indian music labels are experiencing slower revenue growth. This is due to changes in the audio streaming market. Several platforms like Resso and Hungama have closed. Others such as Gaana are now subscription-based. Saregama's revenue remained flat. Zee Entertainment also saw growth slow down. The industry expects stabilization and renewed growth soon. These shifts impact the music business significantly. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India's music labels are facing a slowdown in revenue growth as the country's audio streaming ecosystem is undergoing a structural shift, according to industry the shutdown of several streaming platforms and others moving behind paywalls, the ad-supported model has come under pressure, creating short-term disruptions across the industry, they said."There has been a lot of short-term pain over the past few quarters, with multiple services shutting down-first Resso, then Hungama and Wynk Music, and now Gaana moving behind a paywall," Vikram Mehra, managing director of Saregama , said on an earnings has led to a halt in revenue from free services, he said, adding, "But in the long run, it's a very healthy sign for the industry's growth."Saregama reported flat revenue in its music licensing and artist management segment for the March quarter at ₹171 crore, unchanged from a year earlier. The company attributed the stagnation in part to the shutdown of Wynk Music in December Somani, head of strategy, M&A and business development at Zee Entertainment , highlighted the impact on Zee's music business. "We have seen growth tapering to single digits, mainly because some of the homegrown streaming platforms have shut down or slowed down. But if you strip them out and look at a like-to-like basis on other platforms, the growth is pretty satisfactory. We expect things to stabilise this year and growth to pick up again," he Zee Entertainment doesn't disclose music revenue separately, the company earns more than ₹400 crore annually from the segment, according to industry the past 18 months, three audio streaming services-Wynk Music, Hungama and ByteDance-owned Resso-have shut down. Others, such as Spotify, Gaana and JioSaavn, have pivoted to subscription-based models from largely ad-supported ones.
Time of India
25-05-2025
- Business
- Time of India
Music labels seek new track as streaming hits paywall
India's music labels are facing a slowdown in revenue growth as the country's audio streaming ecosystem is undergoing a structural shift, according to industry executives. With the shutdown of several streaming platforms and others moving behind paywalls, the ad-supported model has come under pressure, creating short-term disruptions across the industry, they said. "There has been a lot of short-term pain over the past few quarters, with multiple services shutting down-first Resso, then Hungama and Wynk Music, and now Gaana moving behind a paywall," Vikram Mehra, managing director of Saregama , said on an earnings call. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kannur: Beautiful New Senior Apartments with Two Bedrooms Senior Apartments | Search Ads Search Now This has led to a halt in revenue from free services, he said, adding, "But in the long run, it's a very healthy sign for the industry's growth." Saregama reported flat revenue in its music licensing and artist management segment for the March quarter at ₹171 crore, unchanged from a year earlier. The company attributed the stagnation in part to the shutdown of Wynk Music in December 2024. Live Events Vikas Somani, head of strategy, M&A and business development at Zee Entertainment , highlighted the impact on Zee's music business. "We have seen growth tapering to single digits, mainly because some of the homegrown streaming platforms have shut down or slowed down. But if you strip them out and look at a like-to-like basis on other platforms, the growth is pretty satisfactory. We expect things to stabilise this year and growth to pick up again," he said. While Zee Entertainment doesn't disclose music revenue separately, the company earns more than ₹400 crore annually from the segment, according to industry estimates. Over the past 18 months, three audio streaming services-Wynk Music, Hungama and ByteDance-owned Resso-have shut down. Others, such as Spotify, Gaana and JioSaavn, have pivoted to subscription-based models from largely ad-supported ones.
Time of India
22-05-2025
- Entertainment
- Time of India
When Gen X marketers decode Gen Z: The weird woke at Goafest 2025
HighlightsThe Advertising Club and Advertising Agencies Association of India's annual creativity carnival, Goafest, took place in Goa amidst unusual May rains, setting a unique backdrop for discussions on marketing to Generation Z. During the panel discussion titled 'Ignite the Z Factor: Swipe Right For Relevance: Building Brands Gen Z Cares About,' accomplished marketers Amarjit Singh Batra, Vikram Mehra, and Geetika Mehta emphasized the need for authenticity, sustainability, and social connectedness in branding, while also acknowledging that the best insights about Gen Z might come from the generation itself. Despite the panel's focus on Generation Z, Spotify's 2025 data revealed that the most streamed songs among Gen Z were predominantly from established artists rather than younger musicians, highlighting a paradox in the panel's discussion about the generational shift in creative decision-making. Rains in the month of May in the land of sun and sand, Goa, is rather weird. It poured throughout the day as champagne was popped and ceremonial lamps were kindled to celebrate the return of The Advertising Club and Advertising Agencies Association of India's annual creativity carnival—Goafest in Goa. Yet, the weather wasn't the only oddity on show. Amid the drizzle, three accomplished Gen X marketers took the stage to decode the ever-elusive Gen Z, only to serve up an ironic, slightly cringe submission: decoding Gen Z should probably be left to, well, Gen Z. Amarjit Singh Batra, general manager - SAMEA (South Asia, Middle East, Africa) and managing director- India, Spotify , Vikram Mehra, MD of Saregama and Geetika Mehta, MD Nivea India, headlined a panel ambitiously titled "Ignite the Z Factor: Swipe Right For Relevance - Building Brands Gen Z Cares About," moderated by seasoned journalist Anuradha Sen Gupta. But instead of providing use cases, the trio quickly pivoted to a disclaimer: the best answers might actually reside with younger folks. Yet, in classic Gen X fashion, they soldiered on with the discussion anyway. Mehta highlighted, "Authenticity, sustainability, and social connectedness are critical now because of Gen Z. Earlier, a brand could have afforded to not focus on these areas. Gone are the days when you could do boring advertisements and make great products and do great business." Ironically, boring ads are something no one would pin on Mehta, known for iconic campaigns at Hindustan Unilever and later Hershey's. So, low-key, the warning about dull ads was a bit extra. Moreover, great business meant great ad as great ad intends to rake in performance. "They are people who are invested in work-life-balance, mental health. This is a generation that embraces the gig economy. They want to experience life and try out new things. They are receptive to change. For businesses launching new brands, GenZs are likely to try out first, and if the brands can win them, they can earn their loyalty. GenZs as employees want to be vocal, they want to learn, and they want to engage with the senior management. As an extension to the gig economy, many of them are going to become entrepreneurs," replied Batra when Sen Gupta quizzed him on the traits he sees among the Gen Zs. The most telling moment arrived when Mehra earnestly suggested letting go: "Creative and marketing calls must shift to younger teams. At Saregama, we now ensure that music selection is exclusively done by employees below 30." Mehta echoed this, highlighting the younger brand managers increasingly driving key decisions. But here's where it got ironic, or perhaps just straight-up paradoxical: despite their claims, the reality check came courtesy of Spotify's own wrapped data from 2025. Four of the most streamed hits were decidedly non-Gen Z creations: "Pehle Bhi Main" from the movie Animal (composed by Vishal Mishra and Shekhar Raj), "Husn" by Anuv Jain, "Sajni" from Lapatta Ladies (composed by Ram Sampath, sung by Arijit Singh), and "Satranga" again from Animal, also by Arijit Singh. Turns out, Gen Z's playlist is vibing strongly with creations from seasoned, not Gen Z, musicians. Zoya Akhtar, Vikramaditya Motwane, Raj and DK, Reema Kagti, Kiran Rao make into the favourite filmmakers of Gen Z and yet none of them are from the younger generation that Mehra and Mehta were conceding to. Thus, the panel inadvertently proved a point Gen Z might indeed lead trends, but decoding them might not strictly require generational membership. Despite the woke proclamations and somewhat performative self-awareness, the evidence on Spotify, Netflix, Amazon Prime, Instagram Reels, suggest a more complex reality. And so, the weird woke remained, hanging awkwardly over Goafest: experienced marketers earnestly advocating to pass the baton, yet clearly still very much holding onto it.
