wordpress blog stats
Connect with us

Hi, what are you looking for?

Saregama’s music biz grew 68% and had 1 billion OTT streams in Q3FY19

Music label, film company, and hardware seller Saregama's operational revenues grew by 60% year-on-year to Rs 150 crores for the quarter ended December 31, 2018, from revenues of Rs 93.7 crores in Q3FY18. The growth was driven by a 68% jump in the company's music business revenues to Rs 138.5 crore from Rs 82.3 crore a year ago. In fact, the music business brought in 92% of the company's quarterly revenues, while the TV/films business brought in 8% of the revenue. Profits from the music segment grew 45% YoY to Rs 32.3 crore, which solely drove overall company profit. Revenues from the films/TV business remained largely stagnant (as compared to the music business) growing only 6% YoY to Rs 12.10 crore from Rs 11.4 crore in the same quarter last year. Carvaan numbers The music segment includes licensing of Saregama's 120,000 songs (across 18 languages) to streaming services, radio, TV, and YouTube streaming, outside of WAP mobile services like caller ring tones. In 2017, the company launched its hardware product Carvaan, a portable music player with an inbuilt music catalogue of 5,000 old Hindi movie songs, with AM/FM radio and Bluetooth support. The company has now sold 1 million units, with projections of expected sales of another 9 million units in FY19. 297,000 units were sold in Diwali 2018, recording a 30% jump in sales over the preceding quarter. The company has also added nearly 4,000 dealers for the device, and has 19,600 dealers in all. Saregama has spun-off the original…

Please subscribe/login to read the full story.
Written By

I cover health, policy issues such as intermediary liability, data governance, internet shutdowns, and more. Hit me up for tips.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

News

There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ