Amara Muzik- the latest audio label startup in Odisha and Bengal blazes into the market with direct content acquisition from producers- has recently acquired Micro Films and Entertainment catalogue for an undisclosed amount.
By far this is the biggest deal that has happened in Ollywood industry.
The catalogue consists of 160 songs, from 14 movies and 9 albums. The agreement recently inked between the two parties, latched on Audio-Video song rights for perpetual tenure.
Music rights of movies- Sapatha, Thookol, Mu Premi Mu Pagal, BalungaToka, KichiKhataKichiMitha, Gud Boy, Matric fall, Idiot, RangeelaToka, JagguAutowallah, Loafer, Ashok Samrat, Khie Jane BhalaLage re, Salam Cinema & Albums- KhareKalia, NimaDaru, Hey Baba Saburi Malik Tume, Talophotaka, I’m Mad for U, DaibeeKrupa, PanchaMurta, ChandanChhitra, Jay JaySai Ram were acquired by the Chennai based music company.
Amara MuzikMDNaveen Bhandari, said, “we are happy to be associated with one of the largest media houses in ODISHA. This deal will propel our growth and stability in the Ollywood industry. Content being the king, we are sure to offer a delight of quality content with right packaging to the consumers. Our diverse experience in the digital space and the landscape of content consumption changing rapidly, what’s constant is content, we will offer the right entertainment in the right form, always”
Micro Films and Entertainment, CEO Kali Prasad Mishra said, “it gives us great pleasure to be associated with Amara Muzik- the largest audio start-up in Odisha. This deal will definitely give a competitive edge over others. Quality content is always aligned to better time spent on digital space, we are sure our content will be of great value-add for Amara Muzik.”
With this acquisition Amara Muzik has gained a substantial market share in the Ollywood industry. Its latest acquisition was Agastyafrom AkshayParija Productions and there are three more big budgeted films are in pipeline.
Amara Muzik has successfully worked with large production houses such as Tarang Cine Productions & OTV, Mohapatra Movie Magic pvt ltd, AkshayParija Productions, A & P Groups, Sabitree Cine Productions, Sabitree Picture, MaaTarini Film Productions and direct producers like SabyasachiMohapatra, Akshay Kumar Parija, Athish Rout, SmritiRanjan Rout, Suresh Ku Hybru, JukanshuSekhar Panda, Rabin Nanda, SanjanNaik, Susant Rout, Anupama Rout.
Amara Muzik is backed by a serial entrepreneur Mr Naveen Bhandari who has a at least about six startups under his fold and one of the startups which he founded way back in 2001, which he has recently exited is Techzone- mobile vas and billing solution provider.
Techzone sold its 100% stake to India’s largest bollywood film production house “Eros” which is backed by Kishore Lulla.
Amara Muzik aims to have a strong foothold in Ollywood industry with about 35-40% of new film music market, which will be achieved by strategic content acquisition.