It was announced today that Adlabs Film is changing names and becoming Reliance MediaWorks.
The new moniker makes sense as not only do we not just do ad-films, which is how the name came about 30-odd years ago, but since Manmohan Shetty sold the business to Reliance ADAG we have grown significantly and expanded into many new areas of business. Here is how the Business Standard covered the news:
Adlabs Films, India's leading film and media services company, and a member of the Reliance Anil Dhirubhai Ambani Group, announched that it proposes to change its name to Reliance MediaWorks Limited, subject to shareholders and other requisite approvals.And I guess we will no longer be confused with Atlabs, though this too has changed name to Deluxe Australia.
For the year ended March 31, 2009, the Company delivered total revenues of Rs. 733 crores ($152 million), reflecting a Compounded Annual Growth Rate (CAGR) of 80 per cent in the last three years.
The original name, Adlabs Films, was reflective of the company’s initial business as a film processing laboratory. Pursuant to the Reliance ADA Group acquiring the controlling stake in Adlabs in the year 2005, the company has witnessed transformational growth in the canvas and scale of its operations.
Commenting on the development, Anil Arjun, Chief Executive Officer said, “The name Reliance MediaWorks Limited more accurately reflects our identity as a diversified film and media services company with a global presence.
We are privileged to draw upon the international recognition of the Reliance Anil Dhirubhai Ambani Group brand, to further strengthen our leadership position in the media and entertainment business. ”
No word on a new logo (the one above is the group company logo) but I'm sure I will be getting new business cards before too long. However, not soon enough to take with me to IBC in Amsterdam next week, which I will be attending Friday-Tuesday, followed by the Judge Business School in Cambridge, where on Saturday 19th September I am giving a keynote on 'The Globalisation of Indian Cinema - A Corporate Perspective' and sharing a panel with distinguished guests like Anupam Kher, Parminder Vir and Partho Sen-Gupta, in conjuncture with the Cambridge Film Festival.