Percept Live takes flight with Rs 200cr investment

23 Jul,2012

By A Correspondent


There’s no denying the endless opportunities that live events manage to throw up. Ask the owners of Percept who’ve organised some memorable – and of course profitable – events in the recent past. With the number of properties seeing an upward spike, the media and communications powerhouse has decided to house all its event properties under a newly instituted division, Percept Live.


Percept Live businesses 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.


The group would be pumping in close to Rs200 crore to execute its plans over the next three years. While Rs100 crore will be raised through equity, Rs50 crore will be raised through debt and the remaining Rs50 crore will be through internal accruals. Of this amount, Rs50 crore has already been raised and will be used in creating innovative IPs with global appeal as well as scaling up existing IPs.


To take their plans in the space forward, the group has bought back former head Manuj Agarwal who has been appointed CEO of Percept Live and will be responsible for providing strategic direction to Percept’s IP business.


Prior to coming back to Percept, Mr Agarwal was CEO-Television at Balaji Telefilms Ltd.  Mr 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 assets that would benefit our clients and Percept in the long run.”


Elaborating on the prominence being laid on the new venture, Shailendra Singh, Joint Managing Director, Percept Limited said that for long Indian companies have been dependent on ideas from outside and failed to produce something spectacular from their own home ground. But all that is changing now and Indian ideas are now finding acceptance with the outside world. It was therefore essential to come up with ideas that are ‘glocal’ in nature.


“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 IP 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 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,” said Mr Singh.


Of the several properties, Sunburn has been Asia’s biggest and most desired electronic dance music festival. It has completed five years and in its 6th year the brand is going truly global with Sunburn already finalized for SL, Singapore, Jakarta and Dubai, besides a big domestic calendar. Other events include Fight Nights – India’s first ever indoor boxing bouts between leading Indian and International boxers; Bollywood Live – the first ever multi-city Bollywood Dance Music Festival; Champions of the World – bringing together under one roof celebrated super-icons in the arena of Sports, Cinema, Business, Entertainment & Entrepreneurship; and Lost – a music festival extravaganza featuring International and domestic talent across various live music genres such as Pop, Rock, Dubstep, House, Reggae, Metal and R&B. Lost will be India’s largest Live Music Festival.


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