India Business wrapup: SaReGaMa’s online store, Reliance world’s best CDMA operator..and more

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SaReGama launches it’s online music store

SaReGaMa has launched it’s online music store : saregama.com; and the store boasts of 4.76 mn Indian songs! The tracks can be downloaded @ Rs. 12 and has a good collection of rare videos like Ghalib (which I just ordered!).

SaReGaMa will add more tracks, based on market response. In my opinion, it’s great to see SaReGaMa bringing it’s rich inventory online (wish they hire some decent web designers) and enabling consumers to buy music at a reasonable price.

Mobile Magic to create 10,000 retail points for mobile content

Mobile Magic, the mobile retail chain, has launched another venture called Media Magic Pvt. Ltd to roll out retail points for mobile content across the country. The company will sell mobile content in the form of games, applications, movies, music, wallpapers and ringtones through its 87 Mobile Magic outlets in 66 cities, other mobile retailers and manned kiosks. Media Magic is targeting 10,000 retail outlets in two years.

Media Magic already has content partnerships with Hungama Mobile, the mobile services company which is a leader in mobile entertainment, and Shemaroo, which has 1,500 movie titles. Apart from this, the company will also bring on board individual content developers and content owners, with whom it can enter into revenue sharing relationships. [source]

Reliance is world’s best CDMA operator

Reliance Communications has been recognized as the global leader among CDMA operators by the CDMA Development Group (CDG). CDG announced the recipients of 2007 3G CDMA Industry Achievement Awards in Hong Kong recently. [source]

Reliance’s AdLabs to animate movie intervals

Adlabs Cinemas has partnered with animation studio Future Thought Productions to produce an exclusive animated short film series called Crime Time. The original series will debut in all Adlabs cinemas later this month, with an option of extending it to other media platforms as well.

Crime Times is about a character, Shifty (the Criminal), a pint-sized pilferer with lofty ambitions and limited brainpower, who perpetrates crimes from the sublime to the ridiculous, never quite pulling them off and resulting in hilarious consequences. Each short animated film, under two minutes in length, will be played during movie intervals with new episodes being introduced on a periodic basis.

“The idea was to fully engage our audience at all times, including intermission, and also to provide original content, putting our own distinctive stamp on the movie viewing experience,” says Tushar Dhingra, COO, Adlabs Cinemas. [source]

TV18 set to acquire major stake in InfoMedia

TV18 will buy at least 53% of Infomedia and the deal to acquire a 40% stake would be followed by an open offer for a further 20% stake. The acquisition would enable TV18 to enter the fast growing publication businesses, apart from the cross-media leverage of its existing brands.

Infomedia was one of the first leveraged buyouts in India led by ICICI Venture. The sale process of ICICI Venture’s stake had witnessed strong interests from several strategic and financial investors, including international majors. This is the second successful leveraged buyout exit by ICICI Venture in the recent past after Ace Refractories. [source]

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