Avarna Jain refuses to be trapped by the past. “We happen to have a large repertoire of nostalgic music,” she says, referring to Saregama’s rich archive. “But it’s not the only thing we have.” Under her leadership, the company has acquired Pocket Aces, a leading new-age content platform, and launched Padhanisa, an AI-driven music training app that aims to democratise music.

Beyond Saregama, Avarna is also at the helm of RPSG Lifestyle Media, overseeing a portfolio of titles—Esquire, The Hollywood Reporter, Robb Report, and Manifest.

In FY24, Saregama clocked revenues of ₹803 crore with a strong adjusted EBITDA margin of 38% and a PAT margin of 25%, notching a profit of ₹197.6 crore. But for Avarna, the numbers are only part of the story. The aim is to make Indian music future-ready—via Gen Z-centric content, global live events, and influencer partnerships.

“We’re investing in music that appeals to 20-year-olds, but also has the potential to remain relevant 50 years from now.”

This future-proofing is grounded in what she calls “measured risk.” The launch of Carvaan, a pre-loaded music player at a time when the world was shifting to streaming, was one such bet.

“If you’re scared to take a risk, you will become irrelevant,” she says.

Saregama is expanding its live events business—like Diljit Dosanjh’s sold-out global tour, executed in partnership with the company.

“Experiential is taking front seat. You can hear music on your phone, but you can’t feel the collective effervescence of a concert.”

Avarna also sees digital subscriptions rising in India.

“The consumer today is ready to pay, provided they see emotional and rational value,” she says. “Music is emotional, but we are also in the business of music. The data tells us what’s working. It never lies.”