The Saregama Entertainment Company has decided to venture into the world of television and film software.

Like other prominent music companies, Saregama intends to cater to the different needs of the entertainment industry and invest close to Rs 500 million a year for the next two to three years to fund its TV software and film production project, according to a report in the Financial Express. With this move, the company's focus would primarily be on four distinct lines of business: music creation and distribution, TV software production, film production and distribution of DVDs and VCDs both in the domestic as well as overseas markets.

The report further adds that the company plans to scale up the investments once the music and film industries become more corporatised.

Saregama owns copyrights of more than 2.5 lakh music tracks, which is the highest among all music companies in India. It is also gearing up for digital downloading and screening of music, says the report.