Key Takeaways Saregama's Carvaan device sales haven't recovered from pre-pandemic quantities as of March 31st, and may well reduce dramatically once again due to lockdowns in multiple states as the second wave of the pandemic keeps stores shut. Licensing revenues continue to climb steadily, with Saregama making Rs 283.9 crores in FY21 from its IP. Revenue from music was down from Rs 114.2 crore to Rs 101.3 crore, but increased YoY from Rs 91.7 crores. Overall turnover suffered in FY21 after also reducing in FY20, of which three quarters were pre-pandemic. The company says it will license a web series in FY22, and has wrapped up shooting for a film that will release in the coming financial year. It is not clear if the film will receive a theatrical or streaming release. Saregama's experiment of selling its own hardware — a music player called Carvaan pre-loaded with songs — is unusual for a music label. That strategy turned out unwise due to the pandemic, with the first wave severely impacting sales, to the point where the unit sales didn't even recover in Q2 and Q3 of FY21. Things are looking even more grim for Carvaan, now that stores find themselves shut once again all over the country. The device sold 200,000 units in Q3FY20, which was the last pre-pandemic quarter. It has not recovered to even 3/4ths of that number in any quarter since. "Retail network got fully operational but again starting shutting down from Mar’21 onwards," Saregama noted in…
- RTI: Where’s the data on Kisan Drone Yatra? March 27, 2023
- Summary: All you need to know about social media user complaints in January 2023 March 27, 2023
- YouTube pulls the plug on its live commerce venture simsim: Here’s what to know March 27, 2023
- IT Ministry Additional Secretary Given Approval Powers for “Protected Systems” Notifications March 27, 2023
- Video: Exploring User Verification, 23rd Mar, 2023, Delhi #Ad March 27, 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...