Interesting action in the Media and Entertainment space.

The India Media and Entertainment space has been the benefactor of the recent aggression by investors and companies with an interest to spruce up customer facing businesses.

Two recent acquisitions in the space, first by The Good Glam Group and the second by the Chicken Soup for the soul are testimony to the tremendous value the eyeball economy is poised to give companies, investors and shareholders.

Digital media platform ScoopWhoop has been acquired by The Good Glamm Group. This is the second acquisition by the company in less than a month. Earlier in October, it had acquired baby and mother products brand The Moms Co for Rs 500 crore, in the largest deal in the country in the direct-to-consumer (D2C) space. Darpan Sanghvi, group founder and CEO of Good Glamm Group said, “I have been an ardent user and fan of ScoopWhoop for a long time. It’s a privilege to have Sattvik, Rishi, Sriparna join the Good Glamm Group family and have ScoopWhoop accelerate the Group’s foray into building a content-to-commerce platform for the burgeoning male grooming and personal care segment.”

The male grooming bet

The recent acquisition will help the company to build its business in the $1.5 billion men’s grooming market.

“The acquisition of ScoopWhoop, which has a male audience of over 60 percent, will pave the way for entry into content-to-commerce for the fast-growing male segment. Over the next three years, the group will invest Rs. 500 crores in the men’s category,” the company said in a press note.

“Good Glamm Group’s commerce stack coupled with ScoopWhoop’s content capabilities and digital reach amongst men will turbocharge the group’s D2C capabilities in the male grooming segment,” it added.

The company is also looking to build as well as buy brands in the men’s grooming segment.

According to The Good Glamm Group, ScoopWhoop’s digital assets generate 1 billion monthly impressions and engage over 100 million users. Based in New Delhi, ScoopWhoop will continue to work as an independent brand and media house within the Good Glamm Group. Its founders Sattvik Mishra, Rishi Pratim Mukherjee and Sriparna Tikekar will continue leading ScoopWhoop and will work closely with Darpan Sanghvi, Priyanka Gill and Naiyya Saggi, co-founders of the Good Glamm Group, the company said.

Formation of Good Glamm Group

Founded in 2017, MyGlamm had introduced The Good Glamm Group in September consolidating all its businesses — MyGlamm, POPxo and BabyChakra — under one umbrella. The company had also announced plans to acquire six brands in the beauty and personal care space with the setting up of the group and has set aside Rs 750 crore for the purpose.

The company in September topped up its series C round with an additional Rs 255 crore led by Trifecta Capital. It had raised Rs 175 crore in March and then another Rs 355 crore in July in a round led by Accel as part of its Series C funding. Most of the funds raised in the recent round will go towards acquiring new brands.

NASDAQ-listed Chicken Soup for the Soul Entertainment, an operator of streaming advertising-supported video-on-demand (AVOD) network, has acquired a majority stake in Locomotive Global Inc.

The India-based production company is led by industry veterans Scott Anderson, former programming and acquisition strategy head for the Hallmark Channel who also was with Starz/Encore and Liberty Media Corporation, and Sunder Aaron, co-founder of QYOU Media India and former EVP for Sony Pictures Television Networks India.

Locomotive Global is currently producing and developing a number of original productions including an original series in development with Amazon Prime Video, as well as Indian local language remakes of well-known series including Ray Donovan for Netflix India.

“Expanding into India has been a top priority for us in our international expansion strategy, and we are excited to be entering the market with an ambitious company like Locomotive Global,” said William J. Rouhana Jr., chairman and chief executive officer for Chicken Soup for the Soul Entertainment. “This acquisition allows us to utilize Locomotive’s revenue, cash flow and presence in India as a base for further expansion in the region. We look forward to backing Locomotive’s expansion plans as we continue the rollout of our international strategy.”

“We are thrilled to be a part of Chicken Soup for the Soul Entertainment. India is arguably the largest and most accessible media market in the world right now. While we will continue to manage the business in India, as part of the Chicken Soup for the Soul Entertainment family, we now have the resources to capitalize on our ambitions and expand more quickly in this market,” said Scott Anderson.

“There continues to be a major opportunity to produce high-quality content for platforms and services in India such as Amazon Prime Video, Netflix, Disney+ Hotstar and others as they now compete for original movies and series so that they can better serve a rapidly growing OTT user base. Production costs are lower in India than in most Western markets, and we can use our development and production capabilities here to meet this growing demand for quality content. We also aim to provide high-quality productions for Chicken Soup for the Soul Entertainment’s AVOD networks at lower costs. The AVOD business is primed for growth in India as broadband connectivity, FAST channels and usage of connected televisions are expanding rapidly. Chicken Soup for the Soul Entertainment is the perfect company to partner with so that we can seize hold of these burgeoning opportunities together,” said Sunder Aaron.

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