New Delhi, Nov. 10 -- After decades built on nostalgia, Saregama India Ltd is turning up the volume on its live entertainment business-placing bigger bets on concerts, musicals, and kids' shows to turn its vast music catalogue into a stronger growth engine amid slowing music streams.

The music label, part of the RP-Sanjiv Goenka Group, which forayed into live events about two years ago is looking at strengthening the game with a three-pronged strategy. The company that has done around 100 shows across 40 cities and nine countries, is targeting younger Gen Z and millennial audiences with artist-led shows featuring the likes of Diljit Dosanjh and Himesh Reshammiya.

It also wants to speak to older audiences with IP (intellectual property)-...