To invest Rs 200 crore; live entertainment business to be segregated and consolidated in Percept Live and headed by Manuj Agarwal as CEO
BestMediaInfo Bureau | Delhi | July 23, 2012
Percept Limited has announced an investment plan of Rs 200 crore in its newly launched global entertainment venture, Percept Live. The announcement comes on the back of a complete restructuring of its businesses. Manuj Agarwal has been appointed Chief Executive Officer of Percept Live and will be responsible for providing strategic direction to Percept’s IP business.
Ajay Upadhyay, COO, Percept Ltd, 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, and they have completely different capital and resource needs. 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 – Marketing Communication Services and Filmed, Live Entertainment & 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 Limited 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 Limited, said, “We have been in the ‘Ideas’ business for the past 28 years and have been instrumental in creating many legendary intellectual properties in the past for our clients. The launch of a dedicated intellectual properties vertical is but 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. 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.”
Prior to coming back to Percept, Agarwal was CEO - Television at Balaji Telefilms He had originally joined the Percept Group as COO, PDM in 2002. He has also worked with Zee TV and the Walt Disney Group, India.
Said Agarwal, “I am delighted to take on this challenging role. The 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 assets that would benefit our clients and Percept in the long run.”