Saregama Bets on Strategic Partnership with Bhansali Productions

Saregama India Ltd has entered into a strategic partnership with Sanjay Leela Bhansali’s Bhansali Productions Pvt Ltd, anchored by an equity investment, marking a clear shift in the music and entertainment company’s content strategy.The arrangement brings together Bhansali Productions’ strengths in feature films and OTT content with Saregama’s established music catalogue and live events business. The move underlines Saregama’s growing preference for partnering with proven creative studios instead of expanding its own film production operations.

Under the agreement, Bhansali Productions will exclusively license the music rights of all its future films to Saregama through a pre-agreed pricing mechanism. According to the company, this structure ensures a predictable flow of high-quality film music, removes the uncertainty of competitive bidding, and helps keep acquisition costs in check.While Bhansali Productions will continue to own the intellectual property of its films and retain full creative control, Saregama will provide governance oversight and introduce financial discipline within the partnership framework.

Saregama also said it plans to gradually wind down its in-house film production activities over the next one to two years, aligning its business more closely with collaboration-led growth. The investment is expected to be EPS-accretive by FY27 and improve margins across the company’s music and video segments.Commenting on the development, Avarna Jain, Vice Chairperson, Saregama India, said the partnership fits the company’s long-term strategy of working with established creative studios to create sustained value for shareholders.Sanjay Leela Bhansali described the collaboration as one rooted in shared values around artistic integrity, music and storytelling, signalling a long-term creative alignment between the two companies.