The music rights of Vipul Shah’s Akshay Kumar starrer Singh is Kinng have been sold for Rs 13.5 crores, making it the biggest such deal in film music business. Indian Films, which owns the world wide rights of Singh is Kinng, has sold the music rights to Times Music.
Music industry has been going through turbulent times and had hit the slumber in revenues. Average music sales were for less than 3 crores and even a talked about project like Shahrukh Khan’s Om Shanti Om had gone for 7 crores.
Says Sandeep Bharghava of Indian Films, “This is a landmark valuation and we are very proud to be associated with the biggest films of 2008 – Singh is Kinng and Ghajini. We are very sure the music will do very well, we have heard the music and it is extremely rocking … more so importantly we are very sure that the music will do well for the entire value chain.”
Says Vipul Shah, the producer of Singh is Kinng, “Akshay Kumar has been commanding a huge draw, whether it be the box office, satellite or music. I am not surprised at all, as Akshay Kumar is a very dependable superstar and has proved his worth time and again.”
Says Adarsh Gupta of Times Music, “Having tasted humongous success with one of the biggest grosser of 2007 in the Hindi film category, Welcome, we are now signing on what is believed to be the biggest hit of 2008 with Singh is Kinng. Based on our experience and understanding of the current market dynamics, we believe we are in a position to monetise the music of Singh is Kinng not only in a true conventional way but also create newer avenues.”
Indian Films has also sold the Mumbai territory (without Mumbai city) for a whopping 10.6 crores to Raksha Enterprises.
