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Airtel’s Wynk Ltd reports Rs 128.5 Crore in turnover in FY17

Updated with details of Wynk's content costs July 3rd 2017: Wynk Limited, a company owned by telecom operator Bharti Airtel, which essentially procures/aggregates content and sells to "B2B and B2C customers", reported a turnover of Rs 128.5 crores for the financial year ended 31st March, 2017 (FY17), and a profit of Rs 4.1 crores. This is a significant jump from Rs 49 crores reported by the company in FY16, up by around 2.62 times. Profit for the company increased to Rs 4.1 crores, up 2.56 times from Rs 1.6 crores in FY16. Capital expenditure for Wynk Limited declined to Rs 11 crore in FY17, from Rs 16.2 crore in FY16. The company was incorporated towards the end of FY15, so no figures for FY15 were available. Note that Wynk doesn't just have music: it also includes Movies and Gaming. Content Costs As per Wynk's annual report, its content costs were Rs 84.1 crores for the year - around 65% of turnover and 74% of total expenses - up 167% from Rs 31.15 crores the last financial year - around 64% of turnover and 72% of total expenses then. In its FY17 Annual Report, Airtel said that: Wynk Music now plays close to a billion songs per month. Average daily time spent on the app by users has grown by 25% over the previous year. Daily streams grew 200% over the last year. Wynk crossed 50 million app installs during the year. Note that 45% of Wynk users are non Airtel customers, the company…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

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