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Times Music buys rights for Rs 13.5cr
In a landmark deal in the sales of music rights of films, the music of forthcoming Akshay Kumar-starrer has fetched Rs 13.5 crore.
The figure includes the value in terms of promotion and marketing as well. The music right for the movie "Singh is Kinng" has been
bought by Times Music. This is reportedly the biggest acquisition deal in film music business and is significant as the music market
has been in a slump for some years.
"Singh is Kinng is one of the awaited films of the year and it has some great music. The music of Akshay Kumar's films have been selling well. Also that across all sales, whether its distribution rights, satellite or music, Akshay has been commanding good price," says Vipul Shah the producer of the film. "This is certainly one of the biggest music acquisition deals. The music market is looking up and various new revenue streams that has come into existence apart from the cd and cassette sales are making this area more and more lucrative. Also the deal is not for perpetuity as most music deals are but for a limited period of eight years," says Sandeep Bhargava of Indian Films, the worldwide rights holder of "Singh Is Kinng". The various rights primarily mobile ring tones and a vibrant radio scene has added to the film music business. Courtesy:
Times of India |
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