The bottomline: The Carvaan products are currently the Saregama's primary focus, at least in the music segment, which accounted for 90% of the company's FY19 revenue. Consolidated revenues are down, but operational revenues have slightly improved. Profits are dramatically down. The money: Music label, film company, and hardware seller (since a year) Saregama’s consolidated total income for Q1FY20 stood at Rs 128 crore, a reduction of 19.3% YoY from Rs 158.6 crore (in Q1FY19). Consolidated results include Saregema's 5 subsidiaries: Saregama Plc, RPG Global Music, Saregama FZE, Kolkata Metro Networks, and Open Media Network. Revenue from operations stood at Rs 125.9 crore, up by 7.9% YoY from Rs 116.6 crore. Moves into loss: The company recorded a consolidated loss of Rs 1.24 crore, a drastic decline in performance from consolidated profits of Rs 8.63 crore in the corresponding quarter last year (Q1FY19), and from Rs 16.5 crore last quarter. Profits for FY19 were Rs 54.3 crore. Saregama's music division: Revenues stood at Rs 110.1 crore, up by 6.3% YoY from Rs 103.5 crore. Profits fell dramatically to Rs 13 crore, a reduction of 53% YoY and 47% QoQ. Revenue in this segment comes via B2B partners like music streaming services, radio, TV, caller ring tone, YouTube, ads, films, and of course the Carvaan products. Streaming & YouTube from music: OTT streams stood at 1.35 billion, up from just 883 million streams in Q1FY19, and slightly down from the 1.4 billion streams in Q4FY19. Streams had crossed the million mark in…
- Is age-verification the answer to protecting children from online harms? #NAMA March 30, 2023
- Here are 6 ways the Indian government is collecting your facial data March 30, 2023
- India’s telecom regulator Directs Telcos to Report Major Network Outages March 30, 2023
- No report available on economic cost of internet shutdowns in India: Telecom Dept in Parliament March 30, 2023
- MediaNama Daily: Fraud vs Fintech March 30, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
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...
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...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
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...
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...