Category: iWorld

Mumbai: TIPS Industries Ltd (Tips Music), a leading Indian music label which creates and monetises music, announced its financial results for the quarter & financial year ending 31 March 2023.

Key financial performance:

Key financial highlights:

1.    Highest ever quarterly revenue growth. Revenue for Q4 FY23 was Rs 52 cr, a growth of 52 per cent y-o-y and 2 per cent q-o-q. For FY23 revenues stood at Rs 186.8 cr up by 38 per cent y-o-y.

2.    The content cost for the year was Rs 62.4 cr which has risen by 95 per cent over the previous year and for Q4 FY23 the content cost was Rs 19 cr, up 120 per cent y-o-y.

3.    For FY23 the company released 896 new songs from which 240 new songs were released during Q4 FY23. Out of 240 new songs, 141 were new film songs and 99 non-film songs.

4.    Latest releases including PS-1, performed exceptionally well. Two songs of Freddy have crossed over 55 million views, and the Yo Yo Honey Singh “Yai Re” has crossed over 35 million views.

5.    YouTube subscribers now stand at 82.1 million. For FY23 YouTube views were 112.7 billion up 89 per cent y-o-y while for Q4 FY23 views were 33.6 billion, which is a growth of 105 per cent y-o-y.

6.    Successfully completed buyback of the maximum permissible amount of Rs 40.1 cr during the year. Also, the board has recommended a dividend of Rs 0.5 per equity share taking the FY23 payout ratio to 60.8 per cent (buyback + dividend).

Commenting on the results, chairman & MD Kumar Taurani said, “I am thrilled to announce that we have had an eventful and successful quarter. We have reported our highest ever quarterly sales growth. This achievement is a result of our dedication to providing must have hits to listeners. On the business front, we have released 240 new songs during the quarter, including 141 new film songs and 99 non-film songs. Our latest releases, including PS-1, have performed exceptionally well. We are proud to say that we have been consistently gaining market share and improving our rankings. We are confident that we will continue to do so in the future and are committed to providing the best products and services to our customers. We have also successfully completed a buyback of the maximum permissible amount in this quarter and recommended a dividend of Rs 0.5/share (post-split), which is the highest ever in our company’s history. The buyback and the dividend cumulatively bring our payout ratio to 60.8 per cent for FY23, which is a testament to our commitment to creating value for our shareholders. We are grateful for the support and trust of our stakeholders and are committed to creating sustainable value for all stakeholders.”

Mumbai: It looks like the big-talking Shane Smith-promoted Vice Media group is making its way to the junkyard. Once valued at $5.7 billion, the media firm has recently filed for bankruptcy and is seeking protection under Chapter XI. Its assets are being sold to a consortium of its lenders that includes Fortress Investment Group, Soros Fund Management, and Monroe Capital.

On Monday, Vice Media filed for bankruptcy. It is facing financial challenges due to the changing landscape of digital media. Despite this bankruptcy filing, Vice Media intends to continue its daily operations without any major disruptions.

The bankruptcy filing includes Vice Media and its affiliated entities, such as the ad agency Virtue, the Pulse Films Division, and the women-focused site Refinery29. These entities are all part of the bankruptcy proceedings.

In an effort to acquire Vice Media, a group of investors, including Fortress Investment Group and Soros Fund Management, has submitted a bid of $225 million. This amount is expected to cover existing loans and help absorb some of the company’s significant liabilities. If the bid is successful, it could provide Vice Media with the opportunity for a fresh start.

Throughout the sale process, Hozefa Lokhandwala and Bruce Dixon, the co-chief executives at Vice Media, will continue to remain in their positions. The sale is anticipated to be finalized within the next three months, paving the way for a potential new beginning for Vice Media.

Mumbai: Dream11, the world’s largest fantasy sports platform, has appointed Priyanka Kodikal as their chief design officer (CDO). She joins Dream11 from WhatsApp, where she headed design for the consumer app and led a large number of initiatives including core experiences across calling and messaging, to launching high-quality products.

Kodikal returns to India after over two decades of a stellar career in the US where she worked for global brands. The spurt of new-age companies across Indian technology and other sectors backed by rapid digitalization, favourable policies by the government, and regulators like Make in India and Digital India coupled with a strong growth momentum has been instrumental in making the country an attractive hub for jobs.

Commenting on the appointment, Dream11 & Dream Sports CEO & Co-Founder Harsh Jain, said, “We are delighted to have Priyanka join us as our Chief Design officer. Her appointment aligns with our commitment to hire the best global talent and develop Mumbai as a tech hub. Priyanka will be responsible for growing our design team and will play an integral role in helping all our portfolio companies with their design philosophy and execution.”

Kodikal added, “I’m extremely passionate about building products that are intuitive and delightful to use. I’m excited to explore the world of sports tech and look forward to working with a great team to elevate the experience for our users.”

Kodikal will be based in Mumbai and will report to Jain.

Mumbai: Can love be truly blind, even when you jump in with eyes-wide open? Lionsgate Play brings you another compelling watch, with its latest psychological-thriller, Alice, Darling streaming exclusively on the platform in India on 26 May. Starring Anna Kendrick in a titular role alongside Charlie Carrick, Kaniehtiio Horn, and Wunmi Mosaku, the film follows Alice, through an abusive relationship where she’s forced to see her boyfriend for who he really is. When her best friends stage an intervention, an unwitting Alice faces the harsh reality she was desperately running away from. Carefully touching upon the subject of emotional abuse and domestic violence, Alice, Darling is a revelation on the masked and hidden issues of society.

Sharing what drew her to the film, actor Anna Kendrick said, “There was something about Alana’s writing that felt so poetic and restrained. I was really interested in telling a story about a toxic, abusive relationship that didn’t look the way that it’s always kind of been portrayed in movies. And the way that Alana wrote this woman’s inner turmoil, and the subtle, but very rewarding journey that she goes on, very much intrigued me.”

Talking about abuse, Kendrick further added, “I feel like everybody’s been touched by this kind of confusing, very insidious abuse – whether it’s happened to you or a friend of yours, you’ve seen someone in your life start to shrink and start to look and feel suffocated, and you’re not sure what’s going on. It’s this very unsettling feeling – you don’t know what you can say, how you can help.”

Mumbai: Virat Kohli, in partnership with Trion, has launched the first ever one8 Fitness app, which aims to transform and revolutionise the fitness industry by offering personalised workout programs and supporting users to achieve their fitness goals. The app is available for download on both Android and iOS platforms.

The one8 Fitness app has been designed keeping in mind the needs of fitness enthusiasts who want to train anywhere, anytime. The app features personalised workout programs that adapt to the user’s fitness level and personal preferences and is designed to accommodate those new to fitness as well as those with advanced training backgrounds. Capable of creating more than one billion unique workout combinations, the app offers immense variation and provides a fun and highly progressive experience. With support for a wide range of training types, ranging from strength to mobility and athletic performance, the app effectively enables users to take their fitness game to the next level at the gym, at home or wherever they are.

The one8 Fitness app also offers an exciting and unique feature that sets it apart from other fitness apps – the motivation from Kohli himself. Through the app, users have the opportunity to get motivational messages whilst training and access exclusive content of Virat and his passion for fitness. The app also offers special discounts from one8 and its partner brands including Puma, one8 Commune, one8 Select, Hyperice and Ocean Beverages, making it a complete fitness solution for users.

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Speaking on the launch, Kohli said, “I have always been passionate about fitness and have personally experienced the benefits of a healthy lifestyle. With the one8 Fitness app, I aim to provide a platform that encourages people to make fitness a part of their daily routine. The app’s smart backend system creates personalised workout plans that cater to users’ individual needs, making fitness more accessible to everyone.”

“We are excited to expand our portfolio of innovative products and services with the launch of the one8 Fitness app. With Virat Kohli onboard, we aim to revolutionise the fitness industry and provide users with a personalised fitness experience. We believe the app has the potential to disrupt the market and become the go-to fitness app for millions of users worldwide,” said Cornerstone Sport COO Jogesh Lulla.

Trion CEO Tom Liljefors said, “As a technology company, we are proud to partner with one8 to develop its first ever fitness app, which represents the future of digital fitness solutions. Our team has worked tirelessly to create an app that provides a truly unique workout experience that is both fun and effective. With Virat’s guidance and expertise, we have been able to deliver a product that will engage fitness enthusiasts of all levels. The launch of the one8 Fitness app marks a significant milestone for Trion and a big step forward in our vision of making high- quality fitness guidance more accessible and dynamic. And this is just the beginning, there’s much more to come!”

The monthly subscription for the one8 Fitness app starts from as low as Rs 199 making it affordable for everyone. Download the app today and take your fitness game to the next level.

Mumbai: FirstPost, India’s leading digital news platform, has witnessed a massive 673 per cent growth in YouTube views since the launch of managing editor Palki Sharma’s show, ‘Vantage’ in late January this year. The show has been a game-changer for the platform, as it captivated global audiences with its gripping content.

The YouTube channel of FirstPost has garnered viewers from all over the world, with over 60 per cent of its audience coming from international locations.

Despite being a new entrant in video content production, the platform’s video pivot is paying off in the form of this remarkable growth. The YouTube channel of FirstPost had 11 million views in January, and following a staggering 673 per cent growth in video views, it reached an impressive 85 million views in April. The channel has also crossed one million subscribers on YouTube, cementing the platform’s position as one of the world’s top digital news platforms.

“The tremendous growth of FirstPost is proof that there is a growing audience for meaningful news content. The numbers give us the confidence to stay the course in an otherwise challenging media business environment. In the weeks ahead, we’ll introduce new offerings, as we continue to reimagine storytelling, disrupt formats and reach out to a diverse multimedia audience,” said  FirstPost managing editor Palki Sharma.

FirstPost recently launched two additional shows on its YouTube channel. ‘Flashback,’ which airs on Saturdays at 8 PM, narrates the story of significant historical events in a simple and easy-to-understand manner. ‘Between The Lines,’ which airs on Sundays at 8 PM, goes beyond the usual headlines to provide audiences with the untold story.

Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens. The show goes beyond the headlines to uncover the hidden stories – making Vantage a destination for thought-provoking ideas. Vantage was launched on 26 January this year and aired Monday to Friday at 9 PM IST on FirstPost.com and Firstpost’s YouTube channel.

Firstpost

Mumbai: The piracy landscape consumer surveys commissioned by the Coalition Against Piracy (CAP) show that while piracy rates remain stable in many countries around Asia-Pacific, we have seen notable increases in piracy rates in Thailand and Taiwan, with a discernible increase also in Hong Kong. Notably, rights holders face challenges in procuring effective and efficient site blocking in all three of these countries. These consumer surveys acknowledge site blocking as an effective tool to mitigate piracy harm.

For those countries that are implementing site blocking effectively, there continue to be demonstrable effects in behavioral change with 62 per cent of consumers in Indonesia and 64 per cent in Malaysia indicating that they have changed their viewing habits as a result of pirate sites being blocked. Both of these countries have long-running, effective and efficient regulatory blocking regimes. In Singapore, one of the first countries in the region to allow rights holders to protect their content via the provision of judicial site blocking measures, it is notable that after almost ten years of this measure being in place, Singapore has the lowest percentage of consumer piracy in the region, with only 39 per cent of consumers pirating. However there remains issues with the time and cost involved with obtaining site blocking orders in Singapore.  

Encouragingly, the survey also shows huge unmet potential as more than 60 per cent of consumers across the region said they would subscribe to legitimate services if there was no pirate content available on social media and messaging platforms.

CAP general manager Matt Cheetham noted, “The evidence continues to show that site blocking, when implemented in an efficient and effective way, is an incredibly powerful tool to both stop online piracy, and direct consumers towards legitimate content.” As with the 2022 survey, the data points towards an ongoing consumption of pirate content via social media and messaging platforms. However, Cheetham also noted, “The surveys also show the benefits of consumer education with a growing awareness amongst consumers of the negative consequences of piracy, particularly via illicit profiteering and malware.”

This is the second time CAP’s YouGov consumer surveys were undertaken across several countries at the same time. The surveys will continue to be repeated across the same countries annually, and in doing so, will continue to provide longitudinal analysis of consumer behaviour trends towards piracy and enforcement measures around the region.

Mumbai: Music has always been an essential driving force for people to achieve a thing or the other in their lives. From depression to expression of emotion, music has been a helping hand. With the evolution of music through different eras, the music taste of people as well as the ways of earning a livelihood through music has also significantly varied.

Exploring the in-depth insights of the age music industry and more, Indiantelevision.com caught up with Create Music Group India president Manu Kaushish.

With over two decades of experience in digital content monetisation and distribution, Kaushish has played an instrumental role in bringing music from India into the digital world. He has created history by entering into the first major digital monetisation deal for Indian content on RealNetworks, paving the way for Indian music to be heard by audiences across the globe. He was also recently featured on Billboard International Power Players List for the second consecutive year in a row. Billboard International Power Players List recognises the contribution of music industry leaders and international music executives from across the globe.

Create Music Group is a data-driven media and technology company that was founded in 2015. In 2020, the company was named #2 on the INC 5000 list of the Fastest Growing Companies in the US. Create works with some of the world’s most prominent artists, including Jennifer Lopez, Snoop Dogg and Tory Lanez. With such a strong foundation, Create is well-positioned to continue revolutionising the music industry and breaking new ground in the years to come.

Edited Excerpts:

On the quality of true melody of music composed/produced today as compared to a few decades ago

The quality and true melody of music are subjective and vary from person to person and definitely vary by generations. If you ask a teenager what they think about music that was created a few decades ago or a grandparent what they think about today’s music, you will get completely divergent answers

The Indian music industry has undergone significant changes with the rise of digital distribution and changes in consumer demand. These changes have led to a shift in the way music is produced, marketed, and consumed. 650 million Indians, nearly half the country’s population, are below the age of 25. Younger listeners are slowly but surely becoming the driving force to change the traditional listener base and will pave the way for more global trends to grow in the Indian music space. So, I don’t think that music today has degraded, it has just changed to the sound that reflects the current times.

On the uniqueness and diversity of genres in classical and regional music. What steps are being taken to promote this globally?

The first major step that the industry can take is to make Indian classical and regional music more accessible to people around the world. This can be achieved by first ensuring that a rich catalog of this content is available on all major global streaming platforms such as YouTube, Spotify, and Apple. The second step is to create organic collaborations with global artists to introduce the rich heritage and sounds of Indian music to a global audience. The third step is to make this content accessible to global TV shows and films for sync opportunities.

Create Music Group is already working with notable classical and regional labels and artists to provide a platform for global distribution, royalty collection and Film/TV Sync placements. We have also facilitated collaborations between Indian classical artists such as in-between Amaan and Ayaan Ali Bangash with Punjabi singers such as Devika to create tracks such as “Jaaniya” and “Holle Holle” that have millions of streams on digital platforms.

On the differentiation of the Indian music industry as compared to the global music industry in terms of opportunities and challenges

The music industry in India has some unique characteristics that set it apart from global markets. India has an extremely diverse music culture and a wide range of regional languages; however, the film industry has historically played a significant role in the discovery and consumption of music. Unlike the rest of the world, where genres like pop and hip hop are more popular and profitable, film music continues to dominate the Indian music industry and accounts for the majority of the revenue. This had been a challenge as it was hard to compete with the reach and budgets of film music.

However, the Indian music industry has also seen significant growth in the last three years, with the rise of Indie artists and the increasing adoption of music streaming platforms and digital music consumption. India is driving Spotify’s international expansion and is now in the top five territories in total users for the platform after just four years of operations. “Naatu Naatu” won at the Oscars and the Golden Globes. “Maan Meri Jaan” by King became a top-30 hit on Spotify through the volume of streams from Indian listeners. This means that not only is consumption changing, but the music being created is changing as well. I see tremendous opportunity in both domestic and international music from Indian artists and labels in India and Create is well-positioned to help drive and deliver this music to audiences globally.

On being the President how are you approaching artists and labels in India? What is the USP of Create Music Group?

We approach working with artists and labels in India with a focus on three key areas:

Artist focus: I believe that artists are the heart of the music industry, and we are committed to helping them develop their sound and listener base, distribute their music to all global streaming platforms, maximise revenue collection, obtain film/TV sync opportunities and pitch for brand endorsements.

Label focus: I am also committed to building strong relationships with labels in India. We already work with regional music powerhouses and our goal is to expand label partnerships for distribution, global revenue collection and collaboration.

Technology focus: I am a strong believer in the power of technology and data to transform the music industry. We are committed to using technology to help artists and labels reach new audiences, monetise their music, and build their brands.

I believe that Create Music Group is uniquely positioned to help artists and labels in India succeed. We have a strong track record of working with the biggest artists from around the world including Jennifer Lopez, Snoop Dogg, and Tory Lanez. The company also owns several media properties, including Flighthouse, the #1 channel on TikTok, The Nations network of influencer channels and numerous top Instagram channels, comprising an audience of over 400 million global followers.

Besides the strong international presence, we have a deep understanding of the Indian music market with teams in Chennai and Mumbai. With such a strong foundation, I believe that we are well-positioned to continue revolutionising the music industry and breaking new ground in the years to come.

On balancing the creative and business aspect of the industry? What is the role of innovation and experimentation in the company?

Create Music Group is a company that is committed to balancing the creative and business aspects of the music industry. We believe that the best music is created when artists have the freedom to be creative, and when they have the support, they need to succeed in the business world.

How do we balance this? In one word: teamwork. Our artist teams and our business teams work together to devise plans that focus on creating music that is unique and using data to deliver it to the right audiences. We are also committed to innovation and experimentation, as we believe that these are essential for success in the music industry. The music industry is constantly evolving, and artists who are willing to try new things are more likely to succeed. This means being open to new genres, new sounds, and new ways of marketing and distributing music.

As an example, we noticed that one of our tracks called “Bangalore Bounce” by Ian Allen was getting a lot of traction on Instagram Reels in India. Our teams reached out to JioSaavn, Wynk, Hungama and Gaana and all these platforms immediately understood the data and gave us very prominent placements to highlight the track. This success was a combination of creative and business and of course the forward-looking attitude of editorial teams at these platforms.

On promoting diversity and inclusivity in the Indian music industry? How do you ensure that underrepresented voices and perspectives are given a platform?

At Create, we have a diverse team of employees who come from different backgrounds and cultures. Our teams are located in Chennai and Mumbai and this diversity of thought and experience helps us to better understand and connect with artists from all walks of life. We are committed to signing artists from all over India, regardless of their gender, race, religion, or sexual orientation. This is apparent in the breadth of languages that we have in our repertoire of music including Hindi, Bhojpuri, Rajasthani, Punjabi, Kannada, Malayalam, Tamil, and Telugu to name a few. We believe that everyone has a story to tell, and we aim to be a platform for all voices.