wordpress blog stats
Connect with us

Hi, what are you looking for?

Saregama’s net profit down by 23% YoY, 1.6 billion OTT streams in Q3FY20

The money: Saregam, which is a music label, production house, and sells music-players called Carvaan, reported a reduction in consolidated income by 16.4% YoY, to Rs 132 crore in Q3FY20. Its net profit fell 23% YoY to Rs 13.4 crore. Profits of the company’s music segment — which accounts for 90% of its revenue — reduced by 24.4% this quarter from the corresponding quarter of FY19. Revenue from the music segment fell 19%, and remained largely flat for both the films and publications segment.

While the Films/TV segment earned a net profit of Rs 5.31 crore last quarter (Q2FY20), net profit fell to Rs 96 lakhs this quarter. This is double the net profit of Rs 27 lakhs in Q3FY19, which indicates that Q3 isn’t particularly great for Saregama.

Carvaan sales drop: Sales of the company’s flagship product Carvaan dropped to 198,000 units in Q3FY20, from 297,000 units in Q3FY19. Festivals sales were lower than expected as there were lower footfalls in consumer durables and telecom outlets, the company said. Almost half (49%) of the revenue from Carvaan came from mid to small towns, compared to just 36% in Q1FY19. The company also added podcasts to Carvaan 2.0 to broaden its appeal to younger people. The company also lists a variation for Karaoke, live housie, Art of Living variations for the Carvaan line, and also plan to add earphones. Gross margin of Carvaan was 25% for Q3FY20.

OTT streams: Saregama licenses music to 8 Indian OTT platforms, and 45 global OTT platforms. OTT streams increased by 600 million between this quarter and the corresponding quarter of FY2019, with 1.6 billion streams this quarter.

YouTube views: YouTube views per month from Saregama’s 25 channels increased to 1.1 billion this quarter, substantially higher than 784 million in the same quarter in FY19.

Advertisement. Scroll to continue reading.

The company’s publication segment, which includes Open magazine, remains in losses, with this quarter’s loss at Rs 2.7 crore.

Downloads: Financials | Presentation

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

Find out how people’s health data is understood to have value and who can benefit from that value.

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

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

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...

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...

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