Video Libraries Shemaroo, Ultra Join Digital Bandwagon

Business Standard: I haven’t been able to comprehend this story fully. However, what I understand is that traditional video cassette libraries like Shemaroo and Ultra Video are turning digital.
“In the 1980s, Shemaroo Video and Ultra were popular at video cassette libraries. Today, both the companies are focussing on being entertainment firms. In a digital world, where technology obsoletion is fast and immediate, the companies have diversified to be in tune with the changing times,” the story says.
Says Ultra managing director Sushilkumar Agrawal: “We are expanding into areas of film production, relaunching our music label and focusing on the home video market.” Hiren Gada, vice president, Shemaroo Video, says his company is keen on becoming a film content house. Ultra has invested Rs 20 crore to set up a film production division. Ditto about Shemaroo.

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