Shemaroo EntertainmentNSE -0.21 % has acquiring 50% stake in Dominiche Productions, a leader in astrology space. The acquisition will mark Shemaroo’s entry in the astrology market.
Following the deal, Dominiche’s content will be distributed across various platforms of Shemaroo along with the recently launched OTT app ShemarooMe.
“At Shemaroo, we always believe in being at the forefront when it comes to venturing into new segments. A decade ago, we entered the devotion category and are now one of the leaders in this segment. With this strategic investment in Dominiche, we aim to reach out to a larger audience base by adding scalable new categories of the future like astrology to our bouquet of offerings,” said Hiren Gada, CEO, Shemaroo Entertainment.
Dominiche boasts of a library of over 400 hours of content covering predictions, numerology, tarot card reading, vastu shastra, palmistry and face reading from over 270 experts.
“When Utpal Vaishnav and I founded Dominiche, we were clear about our vision to create India’s largest powerhouse of content, aggregating the most scalable genres of the future. In our quest to get there in a hurry, Shemaroo came across as the most aggressive and respected player in the market to join hands with to catalyse our efforts to get there. Our journey has begun with Astro as a genre, where we have seen huge traction since launching across platforms. We plan to present more such captivating genres and categories in the near future,” said Adarsh Gupta, co-founder & executive director, Dominiche Productions.
Dominiche will bank on Shemaroo’s existing distribution networks to offer its plethora of content and services. The company first launched their Astrovani service on Airtel Digital TV, followed by Dish TVNSE -1.51 %, Videocon D2H, Amazon Fire Stick, NDTVNSE -0.41 % app and Jio TV.
Source: Economic Times