Saregama, formerly known as The Gramophone Company Of India Ltd., signed a global deal with Facebook and Instagram parent Meta a few years back. But because of some terms and conditions, Meta declined to accept the deal offered by the RP – Sanjiv Goenka Group of companies. Any Meta platform will no longer be the first one to offer any Saregama songs in the reel sections.
Yet, Meta hasn’t commented on the discontinuation. Meta has dodged the question by saying that they wouldn’t comment on specific terms and deals with their music partners. Yet they have also said that Meta is expanding their music catalog. In the meanwhile, a spokesperson for Saregama was asked about the same development, and that person restrained from answering it.
However, after this Saregama signs a new deal with YouTube Shorts, as it offers the same services and features as Instagram reels. After the announcement of this new partnership a few days back, Saregama stock prices have increased by 5%. Releasing a new song on these platforms offers wide popularity and success of the song. Recently, the Saregama song Dholida went viral when many Instagram influencers decided to make reels of that song, with the signature steps.
This new marketing strategy has been the most beneficial way to popularize any new release or revive any old melodies. This boost has been working tremendously well, and because of that Saregama has right away signed a new deal with YouTube Shorts without wasting any time. And they announced the new development a few years back on June 2020, they signed the deals with Meta they haven’t made any announcement regarding the fact. This 2020 deal was signed after TikTok was banned in India and Instagram decided to introduce the same feature to their platform.
In the month June of 2022, Saregama released songs that stopped appearing on Meta platforms. This music company is the oldest music label in India founded in the year 1902, by then the world hasn’t witnessed a single world war. This recording company has a catalog of 1.2 lakh songs. The reason why Meta wasn’t able to come to an agreement with Saregama is not completely clear though.
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