MUMBAI: Music label major T-Series has acquired 14 films from UTV for about Rs 30 crore. This is a first-of-its-kind deal as bulk deals are uncommon in the music industry. The deal includes Rakeysh Omprakash Mehra’s Dilli 6, the Salman-Kareena starrer Main Aur Mrs Khanna, Fashion, Anurag Kashyap’s Dev D, Oye Lucky and Bombay Meri Jaan, to name a few.
“This is certainly one of the biggest deals that the music industry has witnessed so far,” said UTV CEO Siddharth Roy Kapoor. He did not divulge any commercial details. T-Series head honcho Bhushan Kumar said: “Usually, music companies do not get into bulk deals, but since we share a good equation with UTV, we decided to get into a long-term multiple deal.”
The move also signifies the growing competition in the music industry, with several music firms competing with each other for the same slate of movies. “By getting into large bulk deals, we manage to corner a larger share of titles,” added Mr Kumar.
Music has become a key component of Bollywood, as it plays a critical role in a film’s success. T-Series has a slate of films lined up for the next quarter and the line-up has been strengthened with this acquisition. The aim is to ensure a dominant market share in the coming years.
The deal may mark the beginning of a trend where production houses will get into bulk deals with music companies and may look at strategic alliances to ensure a continuous pipeline of music. The deal with UTV includes physical and digital music publishing rights of the films. UTV’s recently-launched digital music arm will not have any access to the publishing rights of the 14 films.
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