SAREGAMA

By Aditya Kalra

NEW DELHI, Feb 14 (Reuters) - A group of India's top Bollywood music labels, from T-Series to Saregama and Sony, is seeking to join a copyright lawsuit against OpenAI in New Delhi, highlighting worries about improper use of recordings to train AI models, legal documents show.

Microsoft-backed OpenAI's legal challenges are mounting globally and in India, its second biggest market by users. But the company says it follows fair-use principles in employing publicly available data to build its AI models.

On Thursday, the Indian Music Industry (IMI) group, T-Series and Saregama India SARE.NS asked a New Delhi court to hear concerns about "unauthorised use of sound recordings" in training AI models that breaches their copyright.

The companies' contentions in the lawsuit "are crucial for the entire music industry in India, and even worldwide," they said in their filing, which is not public but was reviewed by Reuters.

OpenAI and the music labels did not respond to requests for comments on Friday.

The music labels want to join a lawsuit launched last year by Indian news agency ANI that accused OpenAI's ChatGPT application of using its content without permission to train AI models.

Since then, book publishers and media groups, some backed by billionaires Mukesh Ambani and Gautam Adani, have banded together to oppose the company in the New Delhi court.

Bollywood and Hindi pop music are big business in India.

T-Series is one of India's largest music record labels which releases about 2,000 sound records or songs annually, while Saregama, more than 100 years old, owns a repertoire of famed Indian singers such as Mohammed Rafi and Lata Mangeshkar.

On its website, the IMI group says it also represents global names such as Sony Music and Warner Music.

In India, the music labels are "concerned OpenAI and other AI systems can extract lyrics, music compositions and sound recordings from the internet," said an industry source who spoke on condition of anonymity as the matter is in court.

The Indian companies' latest action comes after Germany's GEMA, which represents composers, lyricists and publishers, said in November it had sued OpenAI for ChatGPT's alleged unlicensed reproduction of song lyrics with which "the system has obviously been trained".

OpenAI, which is grappling with new challenges from Chinese startup DeepSeek's breakthrough in cheap AI computing, opposed the ANI lawsuit on the grounds that Indian courts lack jurisdiction, as the company is U.S.-based, with servers abroad.

The next hearing in the lawsuit, which is seen as shaping the future of how AI models use copyright content in India, is set for Feb. 21.

OpenAI chief Sam Altman visited India last week, meeting the infotech minister, and discussing the country's plan to pursue low-cost AI.

(Reporting by Aditya Kalra; Editing by Clarence Fernandez)

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Feb 10 (Reuters) - Saregama India Ltd SARE.NS:

• SAREGAMA INDIA LTD - DECLARED INTERIM DIVIDEND OF 4.50 RUPEES PER EQUITY SHARE

• SAREGAMA INDIA DEC-QUARTER CONSOL NET PROFIT 623.1 MILLION RUPEES

• SAREGAMA INDIA DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 4.83 BILLION RUPEES

Source text: ID:nBSE3FdDvg

Further company coverage: SARE.NS

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Nov 25 (Reuters) - Saregama India Ltd SARE.NS:

• INVESTED 150 MILLION RUPEES MORE IN POCKET ACES

Source text: ID:nBSE6l8C46

Further company coverage: SARE.NS

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** Saregama India SARE.NS slides 4.7% to 511.3 rupees

** Music label's Q2 consol net profit falls 6.7% y/y to 449 mln rupees ($5.3 mln) as expenses jump 62.6%

** Rev from ops grows 40%

** Stock rated "buy" on avg: median PT is 590 rupees - LSEG

** SARE up ~38% YTD

($1 = 84.1175 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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Oct 8 (Reuters) - Saregama India Ltd SARE.NS:

• SAREGAMA INDIA LTD - CLARIFICATION ON NEWS REGARDING CO EYEING MAJORITY STAKE IN DHARMA PRODUCTIONS

• SAREGAMA INDIA- NO MATERIAL EVENT THAT REQUIRES DISCLOSURE

Source text for Eikon: ID:nBSE601Gfn

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** India's Nifty Metal index .NIFTYMET rises as much as 1.98% to record high of 10,263.65

** NIFTYMET set to gain for seventh straight session

** NMDC NMDC.NS, Welspun Corporation WGSR.NS, APL Apollo Tubes APLA.NS lead pct gains in index, rising 3.8%, 3.2% and 2.5%, respectively

** Index heavyweights Tata Steel TISC.NS up 1.1%, JSW Steel JSTL.NS rises 2.5% and Hindalco HALC.NS adds 1.2%

** Index boosted by higher global metal prices and China's planned stimulus to boost its economy MET/L

** Stocks rising on hopes that China stimulus will increase demand and add profit margins for Indian metal cos

** Index up ~8% since China announced stimulus

** NIFTYMET up ~28% YTD vs ~19% gains in NIFTY 50 Index .NSEI

(Reporting by Vijay Malkar)

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* Saregama India Ltd SARE.NS rose as much as 19.5% to 632 rupees, hitting record high

* Overall 13.2 mln shares traded, 53.6X 30-day average

* Reuters could not immediately ascertain the reason behind the move

* Stock up ~64% YTD vs ~25% gains in NIFTY 500 index .NIFTY500

(Reporting by Vijay Malkar)

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** Shares of Saregama India SARE.NS fall as much as 1.9%, trimming some losses to trade 1.1% lower at 531.1 rupees

** Music label's Q1 profit fell 15.1% YoY

** Stock was up ~2% before results

** It fell 0.3% in July, stock's first monthly decline since March

** SARE up 44.4% YTD, rival Eros International Media EROS.NS down 18.3%

(Reporting by Varun Vyas in Bengaluru)

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July 19 (Reuters) - Saregama India Ltd SARE.NS:

• SAREGAMA INDIA - FILED APPEAL AGAINST DEMAND ORDER

Source text for Eikon: ID:nNSEWLKfv

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April 22 (Reuters) - Saregama India Ltd SARE.NS:

• SAREGAMA INDIA LTD - GOT CUSTOMS ORDER FOR DEMAND OF 233 MILLION RUPEES, FINE 365 MILLION RUPEES

Source text for Eikon: ID:nNSE17Q0cg

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** Shares of music label Saregama India SARE.NS down 3% at 358.20 rupees

** SARE reports 1.8% Y/Y fall in Q3 consolidated net profit, rev from ops rose 12.3% Y/Y

** Total expenses jumped 18.3%, led by operational costs

** Co also declared interim dividend of 4 rupees/share

** Stock on track to decline, snapping four consecutive sessions of gains, if trend holds

** Including session's move, stock down 3.3% YTD

** Stock rose 2.7% in 2023

(Reporting by Ashish Chandra in Bengaluru)

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** Shares of music label Saregama India SARE.NS rise as much as 5.6% to 369 rupees

** Stock on track to snap six consecutive session of loss, if gains holds

** The reason for the move was not immediately clear

** Stock one of the top gainers in Nifty 500 index .NIFTY500 which is up 0.51%

** More than 448,000 shares change hands by 11:35 a.m. IST, 0.9x of 30-day avg

** Two analysts covering the stock have a "strong buy" rating; median PT is 457.50 rupees - LSEG data

** Including sessions gain, stock has turned positive, up 1.2% YTD vs Nifty 500 which is up ~24%

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

** Shares of music label Saregama India SARE.NS up 3.5% to 384.30 rupees

** Brokerage Emkay Global initiates coverage on SARE with "buy" and a PT of 465 rupees, an implied upside of ~25% to its closing price on Friday

** Growing digital revenue and ramp-up of paid subscribers to boost long growth runway for SARE - brokerage

** Estimates revenue to grow at CAGR of 23% over FY23-26; music licensing business, its biggest segment, to see revenue growth at CAGR of ~18% over the same period

** Over 806,000 shares change hands, 1.5x the 30-day moving average

** Including session's move, stock up ~7% YTD

(Reporting by Kashish Tandon in Bengaluru)

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Nov 1 (Reuters) - Saregama India Ltd SARE.NS:

• SAREGAMA INDIA SEPT-QUARTER CONSOL NET PROFIT 481 MILLION RUPEES VERSUS 465.7 MILLION RUPEES

• SAREGAMA INDIA SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 1.72 BILLION RUPEES VERSUS 1.85 BILLION RUPEES

Source text for Eikon: ID:nNSE11Db1C

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Sept 28 (Reuters) - Saregama India Ltd SARE.NS:

• TO ACQUIRE UPTO 660,650 SHARES, OTHER SECURITIES OF POCKET ACES PICTURES VIA SECONDARY ACQUISITION

• CONSIDERATION FOR FIRST TRANCHE EXPECTED TO ABOUT 1.74 BILLION RUPEES

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May 19 (Reuters) - Saregama India Ltd SARE.NS:

• SAREGAMA INDIA LTD MARCH-QUARTER CONSOL NET PROFIT 492.8 MILLION RUPEES VERSUS PROFIT 482.1 MILLION RUPEES

• SAREGAMA INDIA LTD MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 2.07 BILLION RUPEES VERSUS 1.80 BILLION RUPEES

Source text for Eikon: ID:nBSE3bC0Kv

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