India’s music industry is booming, and nowhere is that more evident than in the earnings of Mumbai-based Tips Industries Ltd, also known as Tips Music.
The company is best known for its product catalog 30,000 songs Produced in more than two dozen Indian languages, including numerous Bollywood blockbuster hits, with reported revenue of 739 million INR ($8.86 million) in the first quarter of fiscal year 2025 (equivalent to the second quarter of 2024).
This marks an increase in 40% annual increaseTips said in an investor press release on Wednesday (July 24).
The profit after tax is 436 million INR (US$5.23 million at the quarter’s average exchange rate), jumping Annual increase of 61%which represents the after-tax profit rate as 58.9%.
Operating EBITDA also surged 55% annual increase arrive INR 54.4 Crores ($6.52 million).
Tips Chairman and Managing Director Kumar Taurani Describing the profit results as “remarkable for us… it demonstrates our commitment to growing and improving the business.”
He added: “We have successfully completed a share buyback amounting to Indian Rupee 4666.2 Crores [466.2 million] Includes all taxes for non-promoter shareholders. We remain committed to returning value to our shareholders.
Company announces interim dividend Indian rupee 2 rupees ($0.024) per share, total payment 255.6 Crores INR (US$3.06 million).
Tips for posting this season 97 new song among them 18 It’s a movie song. The company recorded YouTube subscribers of 104 million. Video received 62.2 billion Youtube view, upward 29% annual increase.
“Last quarter, we released the famous songs ‘Choli ke Peeche’ and ‘Naina’ from the movie all staff Every one goes above and beyond 100000000 views on YouTube,” said Girish Tauraniexecutive Director.
“Our track ‘Soni Soni’ comes from Ishq Vishk Bounce Enter the top 10 Spotify chart. Other songs from the film include “Ishq Vishk Pyaar Vyaar” and an arrangement of “Gore Gore Mukhde Pe” badshahhas also been well received, reflecting our commitment to delivering engaging music content.
“Our music is growing steadily across all digital platforms, with YouTube, Spotify and Jio Saavn being key drivers of new releases and our catalogue.”
Hari Nair, Tips Industries Ltd.
“Our music is growing steadily across all digital platforms, with YouTube, Spotify and Jio Saavn being key drivers of new releases and our catalogue,” the CEO added Harry Nair.
Tips’ impressive performance comes against a backdrop of continued prosperity in the Indian music industry, particularly on the consumer side.
Data from market monitoring company Luminate’s 2023 year-end report shows that India may surpass the United States as soon as this year and become the largest music streaming market in terms of sales volume.
In 2023, India’s growth rate will be just over 1 trillion Total on-demand music streaming (including audio and video) compared 1.454 trillion Streaming in the United States. However, Indian streams grow more than 46% By 2023, the growth rate will be approximately 12.7% In the U.S.
Indian music has also experienced significant growth outside India. Global consumption of Indian music on Spotify grows 2,000% The streaming service recently reported that within five years 85% Growth was achieved in 2023 alone.
during an interview MBW Earlier this year, Kumar Taurani said the biggest demand growth for Tips came from the US, UK, Canada, Gulf countries, Australia and Germany.
He pointed out that in India, consumers are increasingly willing to upgrade from ad-supported music streaming subscriptions to paid subscriptions – something that is often difficult to achieve in emerging markets.
“Traditionally, India has favored free content, but OTT platforms are now successfully driving users towards paid models. They are implementing strategies to incentivize paid subscriptions, such as offering ad-free listening, the ability to download music, and offline access to songs,” he said explain.
Taurani predicts that the Indian music industry will grow significantly in the coming years.
“Forecasts indicate 15-20% annual growth rate, we expect that the industry boom may increase the market size to approx. US$1.5 billion-Also, within the next four to five years,” he said.global music business
