As we know, short format deals are fixed. So regardless of volume, saregama looses fixed amount. Negotiation seems failed, as saregama must asked for higher amount due to increased use of catalogue, however meta may not want to increase.
Saregama had such deal problem with spotify and resolved later.
In Tips concall it was mentioned that no music label will be available on ALL platforms. There is always one or more missing in a platform.
I believe saregama (vikram) want to send message that they are not at mercey of a particular platform.
Disclosure: Invested in saregama not in Tips.
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