The entrepreneurial journey of Avarna Jain, vice chairperson of Saregama, took flight right after college in 2007 with the launch of Au Bon Pain, a U.S. brand, in India. She also went on to create homegrown brands like Waffle Wallah and Chef’s Board. Jain then transitioned to Saregama, leading it into a new era of digital media and content creation. The result: Saregama Carvaan, a treasure trove of music spanning last 100 years that had been difficult for people to access, was made available at affordable prices.
She also chairs RPSG Lifestyle Media, overseeing three prominent magazines: Esquire, The Hollywood Reporter and Manifest. In FY24, Saregama’s revenue from operations stood at ₹803 crore with 38% adjusted EBITDA margin. The company delivered a 25% margin in its FY24 profit after tax of ₹197.6 crore.
Jain’s leadership is characterised by inclusivity and collaboration. “It’s all about the team, what they think, and how we can collaborate to come up with better ideas,” she says. Having the right people with a progressive mindset is key, she adds. In the past year, Jain has led initiatives such as acquisition of Pocket Aces, a leading influencer management company. Another is the launch of Pa Dha Ni Sa, an AI-driven music training app which aims to democratise music education.
Jain has driven aggressive investments in new content, ensuring a robust pipeline of film and non-film music that will generate revenue in the future. Jain introduced a talent management vertical to groom and launch new artistes, nurture talent and foster creativity. “It sets us up for revenue generation for the next three or four decades,” she says. — Urvashi Mishra