Music rights of 'Singh Is Kinng' sold at Rs. 13.5 crores 29th Apr 2008
13.01 IST
By Agencies
Music rights of Akshay Kumar 's forthcoming film Singh Is Kinng have been sold to Times Music for a whopping Rs 13.5 crores.
The music rights were earlier owned by Indian Films, the worldwide rights holder of 'Singh Is Kinng'.
Sources close to the production house said that the sale of music rights of this film is the highest ever in more than a decade. The sales are for a limited period of eight years.
Music industry has been going through a lot of turbulent times and had hit the slumber in revenues.
Average music sales were less than Rs three crores and even a talked about project like Shah Rukh Khan 's Om Shanti Om had gone for Rs 7 crores.
If the music sale of 'Singh Is Kinng' is any indication, then the music valuations are back.
"This is a landmark valuation and we are very proud to be associated with the biggest films of 2008--'Singh is Kinng' and 'Ghajini'," said Sandeep Bharghava of Indian Films.
Vipul Amrutlal Shah , producer of 'Singh Is Kinng' said, "Akshay Kumar has been commanding a huge draw, whether it is the box office, satellite or music are concerned. I am not surprised at all, as Akshay Kumar is a very dependable superstar and has proved his worth time and again."
Music rights of 'Singh Is Kinng' sold at Rs. 13.5 crores
