18 Sep 2025 | 5 Mins Read
Nuvama forecasts 28% upside in music label on paid subscription growth
Flipitmoney
Nuvama Institutional Equities retained its 'Buy' rating on Saregama India Lt. with a ₹630 price target, suggesting a 28% upside. Saregama plans to invest ₹700 crore in new music content, targeting 25-30% market share. The music segment is expected to grow at 20-23% CAGR, while live events may expand at 25-30% CAGR, with potential ₹1,800 crore revenue by 2025.