MUMBAI: Saregama music business CEO Kulmeet Makkar is slated to join Anil Ambani owned Reliance Entertainment’s new home video and music division as CEO.
Sources close to the development inform that Makkar will join Reliance Entertainment on 2 May, 2007. His last day with Saregama will be 30 April. “Makkar has been given the responsibility of setting up the company’s music and home video division,” says the source.
When contacted, Makkar refused to comment on the same.
Makkar has been with music company Saregama for the last 18 years. His departure comes four months after Saregama film business CEO Harish Dayani quit and joined Moser Baer’s home entertainment division, which was launched in December last year.
With Reliance Entertainment stepping into the home entertainment space, which has seen some action around price points with Moser Baer’s entry, the game is only slated to get bigger. Players who have been active in this area are T-Series, Shemaroo, Ultra, Eros, Excel Home Entertainment, Saregama and Venus amongst others.
What will be interesting to watch is the strategy Reliance Entertainment adopts once it launches. Pertinent to note here is that Moser Baer has already crashed the prices of DVDs and VCDs to Rs 34 and Rs 28 respectively and with established players like T-Series also resorting to price cuts, new entrants may find it hard to crack the market.
Watch this space for updates as the home entertainment space hots up even more.