Percept has announced an investment plan of Rs 200 crore into its newly launched global entertainment venture ‘Percept Live’.
This announcement comes on the back of a complete restructuring of its businesses.
On the restructuring Ajay Upadhyay, Chief Operating Officer, Percept said, “The restructuring is a strategic decision which was taken over the last year. We have always been in the ‘EMC – Entertainment, Media and (marketing) Communication’ space. However, in each of these areas we had both a ‘service’ business and an ‘asset’ business. Along with the varying business focus of the service businesses and the asset businesses; they have completely different capital and resource needs. And last but not the least, while the services business is a B2B business, our asset business is a B2C business. It is these imperatives that have led us to restructure our business into two verticals which are ‘Marketing Communication Services’ and the ‘Filmed, Live Entertainment and Digital Asset’ business.”
Percept Live business will include all the IPs created and owned by the Percept Group, including IPs in the live entertainment, sports, celebrity management, digital and media space. Some of the renowned IPs currently owned by Percept includes Sunburn, Fight Nights, Bollywood Live, Lost Music Festival, Fan Football Championship, Champions of the World and Windsong Music Festival.
Shailendra Singh, Joint Managing Director, Percept said, “We have been in the ‘ideas’ business for the past 28 years and have been instrumental in creating many legendary ‘intellectual properties’ for our clients. The launch of a dedicated ‘intellectual properties’ vertical is a further extension to our existing knowledge and expertise in the entertainment, media and communications domain and is in keeping with the growth plans of Percept in the coming years. Our vision is to convert path breaking innovative ideas into assets in order to create long term value for brand Percept as well as our clients and investors.”
Manuj Agarwal has been appointed Chief Executive Officer (CEO) of Percept Live and will be responsible for providing strategic direction to Percept’s IP business.
Prior to coming back to Percept, Agarwal was CEO Television at Balaji Telefilms. He had originally joined the Percept Group in the capacity of COO, PDM in 2002 and in his illustrious career in the entertainment and media industry, he has also worked with Zee TV and the Walt Disney Group, India.
Agarwal said, “I am delighted to take on this new and challenging role. This new initiative is designed to consolidate our efforts in the area of IP creation and management, and will ensure that we take ownership of our ideas and convert them into sssets that would benefit our clients and Percept in the long run.”
The investment of Rs 200 crore, of which Rs 50 crore has already been raised, will be used in creating innovative IPs with global appeal as well as scaling up existing IPs.
Elaborated Singh, “The restructuring and launch of Percept’s intellectual properties vertical is in keeping with the evolving and dynamic changes and growth in the entertainment and media industry and would enable Percept to bring greater focus, synergy, efficiencies and diversity in its service offerings. As India’s economy and business continue to thrive and expand rapidly, its communication needs are becoming more sophisticated. This new structure along with our committed capital investment of Rs 200 crore in year one of operations will offer our stakeholders a wider range of innovative properties in the entertainment domain, scale up the existing IPs, and cater to the diverse and evolving needs of our clients and consumers in the future.”