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Tag: Saregama

  • Lower TV segment revenue adds to Saregama Q2-17 numbers downturn

    Lower TV segment revenue adds to Saregama Q2-17 numbers downturn

    BENGALURU: Indian custodians of music company Saregama Limited (Saregama) reported 14.2 per cent year-over-year (y-o-y) and 0.9 per cent quarter-over-quarter (q-o-q) declines in total income from operations (TIO) for the quarter ended 30 September 2016 (Q2-17, current quarter). The company reported TIO of Rs 47.90 crore in Q2-17, Rs 55.80 crore in Q2-16 and Rs 48.33 crore in Q1-17. The company also saw a decline in Net Sales revenue as well as License Fees revenue in the current quarter.

    The company’s profit after tax (PAT) in Q2-17 declined to less than half (1/2.25 times) y-o-y to Rs 1.15 crore (2.4 per cent margin) from Rs 2.59 crore (4.6 per cent margin) and declined 34.7 per cent q-o-q from Rs 1.76 crore (3.6 per cent margin). EBIDTA including other income in Q2-17 declined 26.8 per cent y-o-y to Rs 4.06 crore and declined 12.1 per cent q-o-q from Rs 4.62 crore.

    The company has two segments – Music and Television Serials (TV).

    Music segment reported 5.2 per cent y-o-y decline in operating revenue to Rs 31.23 crore from Rs 39.24 crore and declined 2.7 per cent q-o-q from Rs 32.11 crore. Music segment reported 44.4 per cent y-o-y decline in operating profit to Rs 6.1 crore in the current quarter from Rs 32.94 crore and 45.8 per cent q-o-q decline from Rs 11.25 crore.

    Saregama’s TV segment reported 27.1 per cent y-o-y decline in operating revenue in Q2-17 to Rs 16.67 crore from Rs 22.86 crore, but a 2,8 per cent q-o-q increase from Rs 16.22 crore. TV segment operating profit declined 53.9 per cent y-o-y to Rs 1.61 crore from Rs 3.49 crore and declined 35.6 per cent q-o-q from Rs 2.50 crore.

    Let us look at the other numbers reported by Saregama

    Saregama also reports revenue from three streams –‘Net Sales Income’, ‘License Fee’, and ‘Other’. Net Sales Income in Q2-17 declined 23.1 per cent y-o-y to Rs 17.93 crore (37.4 per cent of TIO) from Rs 23.31 crore (41.8 per cent of TIO), but increased 5 per cent q-o-q from Rs 17.08 crore (35.3 per cent of TIO).

    License Fees income in the current quarter declined 7.9 per cent y-o-y to Rs 29.89 crore (62.4 per cent of TIO) from Rs 32.44 crore (58.1 per cent of TIO) and declined 4.1 per cent from Rs 31.18 crore (64.5 per cent of TIO) in Q2-16.

    Other Income in the current quarter was Rs 0.08 crore; Rs 0.05 crore in Q2-16; and Rs 0.07 crore in the immediate trailing quarter.

    Saregama’s Total Expense in the current quarter at Rs 48.76 crore (101.8 per cent of TIO) was 9.9 per cent less than the Rs 54.14 crore (97 per cent of TIO) in Q2-16, but was 7.0 per cent more than the Rs 48.33 crore (94.3 per cent of TIO) in Q1-17.

    The company’s Royalty Fee expense in Q2-17 at Rs 4.25 crore (8.9 per cent of TIO) declined 20.4 per cent y-o-y from Rs 5.34 crore (9.6 per cent of TIO) but increased 1.2 per cent q-o-q from Rs 4.20 crore (8.7 per cent of TIO).

    Saregama’s advertising and sales promotion expense in Q2-17 at Rs 4.74 crore (9.9 per cent of TIO) increased 12.9 per cent y-o-y from Rs 4.20 crore (7.5 per cent of TIO) and increased 3.7 per cent q-o-q from Rs 4.57 crore (9.5 per cent of TIO).

    Employee Benefit Expense in the current quarter at Rs 8.98 crore (18.7 per cent of IO) was 21.3 per cent lower than the Rs 11.41 crore (20.4 per cent of TIO) in Q2-16 but 0.8 per cent more than the Rs 8.91 crore (18.94 per cent of TIO) in the immediate trailing quarter.

  • KnightsAD expands to Sri Lanka and Middle East

    KnightsAD expands to Sri Lanka and Middle East

    MUMBAI: KnightsAD Digital Media Associates recently announced its foray into Sri Lanka and the Middle Eastern markets of the UAE, Kuwait and Qatar. The company has seen close to 20 per cent month-on-month growth since its launch in January 2016 across India markets.

    KnightsAD CEO Malik Gilani said, “We are ecstatic to announce our global expansion. We hope to provide our partners a global platform and extended reach.”

    With Sri Lanka featuring among the top 10 countries in the world for mobile advertising growth (source, ExchangeWire) and the Middle East showing a growing mobile e-commerce trend (source, Adotas), the markets are ripe for content players to leverage this growth by extending their mobile and WAP advertising reach.

    KnightsAD has partnered with leading telecoms and content companies in Sri Lanka and the Middle East; telecom partners include Oreedoo in Kuwait and Qatar, DU in the UAE as well as Dialog in Sri Lanka. With a conversion rate of up to 75000 a month, KnightsAD has quickly become one of the networks with the highest success rates and now widest reach.

    With this expansion, the company hopes to replicate the success they have seen in India for content partners like Hungama, Nazara, Mauj and Saregama, to name a few.

  • KnightsAD expands to Sri Lanka and Middle East

    KnightsAD expands to Sri Lanka and Middle East

    MUMBAI: KnightsAD Digital Media Associates recently announced its foray into Sri Lanka and the Middle Eastern markets of the UAE, Kuwait and Qatar. The company has seen close to 20 per cent month-on-month growth since its launch in January 2016 across India markets.

    KnightsAD CEO Malik Gilani said, “We are ecstatic to announce our global expansion. We hope to provide our partners a global platform and extended reach.”

    With Sri Lanka featuring among the top 10 countries in the world for mobile advertising growth (source, ExchangeWire) and the Middle East showing a growing mobile e-commerce trend (source, Adotas), the markets are ripe for content players to leverage this growth by extending their mobile and WAP advertising reach.

    KnightsAD has partnered with leading telecoms and content companies in Sri Lanka and the Middle East; telecom partners include Oreedoo in Kuwait and Qatar, DU in the UAE as well as Dialog in Sri Lanka. With a conversion rate of up to 75000 a month, KnightsAD has quickly become one of the networks with the highest success rates and now widest reach.

    With this expansion, the company hopes to replicate the success they have seen in India for content partners like Hungama, Nazara, Mauj and Saregama, to name a few.

  • Saregama fights music piracy head on

    Saregama fights music piracy head on

    MUMBAI: The Indian music industry has been plagued by piracy for decades. Saregama has decided to take the fight with piracy head on. It has launched a monsoon promotion wherein all its 1.1L songs will be available for buy and download from saregama.com for just Rs 2. per song. This includes music from likes of Kishore Kumar, LataMangeshkar, Mukesh, Asha Bhosle, Jagjit Singh, Mohd. Rafi, MS Subbalakshmi, Pt. Bhimsen Joshi and more.

    Saregama India managing director Vikram Mehra shared his views on the latest offering, “Piracy is the biggest threat to our music industry. Our research tells us that consumers are ready to choose legal copies over pirated ones, provided they are affordable and easy to buy. This promotion is our response to the consumer talk, and we expect customers to join us in this fight against piracy by buying the legal copies of music.”

    There’s no limit on the number of songs that can be downloaded. All the songs are available as mp3s as well as uncompressed lossless format. Saregama.com makes shopping for songs a fun and hassle-free experience, as one can pay through net banking, credit or debit cards, PayTM and even through mobile operators as a part of the monthly bill. Apart from Hindi songs across various genres, this offer is also available on songs in Marathi, Bengali, Punjabi and Tamil among other languages.

  • Saregama fights music piracy head on

    Saregama fights music piracy head on

    MUMBAI: The Indian music industry has been plagued by piracy for decades. Saregama has decided to take the fight with piracy head on. It has launched a monsoon promotion wherein all its 1.1L songs will be available for buy and download from saregama.com for just Rs 2. per song. This includes music from likes of Kishore Kumar, LataMangeshkar, Mukesh, Asha Bhosle, Jagjit Singh, Mohd. Rafi, MS Subbalakshmi, Pt. Bhimsen Joshi and more.

    Saregama India managing director Vikram Mehra shared his views on the latest offering, “Piracy is the biggest threat to our music industry. Our research tells us that consumers are ready to choose legal copies over pirated ones, provided they are affordable and easy to buy. This promotion is our response to the consumer talk, and we expect customers to join us in this fight against piracy by buying the legal copies of music.”

    There’s no limit on the number of songs that can be downloaded. All the songs are available as mp3s as well as uncompressed lossless format. Saregama.com makes shopping for songs a fun and hassle-free experience, as one can pay through net banking, credit or debit cards, PayTM and even through mobile operators as a part of the monthly bill. Apart from Hindi songs across various genres, this offer is also available on songs in Marathi, Bengali, Punjabi and Tamil among other languages.

  • Reliance Capital acquires 6.83% equity stake in Saregama

    Reliance Capital acquires 6.83% equity stake in Saregama

    BENGALURU: Anil Dhirubhai Ambani Group (ADAG) company Reliance Capital Limited (RCL) has acquired a 6.83 per cent equity stake totalling 11.88 lakh shares from the open market of Indian custodians of music – Saregama Limited (Saregama).

    RCL has filed disclosures under Regulation 29 (1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 at the bourses today. Before the acquisition, RCL did not have any stake in the company. 

    Saregma has an equity share capital of Rs 17.40 crore for 1.74 crore shares of face value of Rs 10 each. At the time of writing of this report (29 December) the share closed at Rs 362.40 on the BSE, Re 1 lower (0.27 per cent down) from the previous close of Rs 364.40. The high for the day was Rs 388.10 and the low for the day was Rs 360.50. Over the past 52 weeks, the share had a high of Rs 509.00 and a low of Rs 116.00.

    The share closed at Rs 362.90 down as compared to the previous close of Rs 363.55 on the NSE. The share had opened at Rs 370 today and had an intraday high of Rs 388.25 and an intraday low of Rs 360.00. The 52 week high on the NSE was Rs 509 on 10 August, 2015, and the 52 week low was Rs 114.95 on 27 March, 2015.

  • Q2-2016: Saregama’s YoY revenue up 35.6% at Rs 55.87 crore

    Q2-2016: Saregama’s YoY revenue up 35.6% at Rs 55.87 crore

    BENGALURU: Indian custodians of music company Saregama Limited (Saregama) reported 35.6 per cent YoY growth in revenue or Total Income from Operations (TIO) for the quarter ended 30 September, 2015 (Q2-2016, current quarter). The company reported TIO of Rs 55.87 crore in the current quarter as compared to Rs 41.20 crore in the corresponding year ago quarter and 7.5 per cent QoQ growth from Rs 51.97 crore.

     

    Note: 100,00,000 = 100 lakh =10 million = 1 crore.

     

    Saregama reported year on year (YoY) increase in profit after tax (PAT) in Q2-2016. PAT in the current quarter was Rs 2.59 crore (4.6 per cent margin), while in Q2-2015, it was 2.08 crore (five per cent margin). QoQ, PAT declined slightly (declined by 1.5 per cent) from Rs 2.63 crore (5.1 per cent margin).

     

    Segment Numbers

     

    The company classifies its numbers by the two segments– Music and Television Serials (Television).

     

    Saregama’s Music segment reported 26.9 per cent YoY growth in operating revenue in Q2-2016 at Rs 32.94 crore (59 per cent of TIO) from Rs 25.96 crore (63 per cent of TIO) and 15.9 per cent QoQ growth from Rs 28.41 crore (54.7 per cent of TIO).

     

    Music segment operating profit in Q2-2016 grew 66.1 per cent YoY to Rs 10.98 crore from Rs 6.61 crore, but declined 8.9 per cent QoQ from Rs 12.05 crore.

     

    Saregama’s Television segment reported operating revenue of Rs 22.86 crore (40.9 per cent of TIO), which was 50 per cent more than the Rs 15.24 crore (37 per cent of TIO) in Q2-2015, but three per cent lower than the Rs 23.56 crore (45.3 per cent of TIO) in Q1-2016.

     

    The company’s Television segment reported operating profit of Rs 3.49 core in the current quarter as compared to an operating profit of Rs 0.19 crore in Q2-2015 and an operating loss in Q1-2016 of Rs 0.34 crore.

     

    Let us look at the other numbers reported by Saregama

     

    Saregama also reports revenue from three streams – Net Sales Income, License Fee, and Other. Net Sales Income in Q2-2016 increased 52.1 per cent YoY to Rs 23.31 crore (41.7 per cent of TIO) from Rs 15.53 crore (37.2 per cent of TIO), but declined by 2.1 per cent QoQ from to Rs 23.80 crore (45.8 per cent of TIO).

     

    License Fees income in the current quarter increased 25.7 per cent YoY to Rs 32.44 crore (58.1 per cent of TIO) from Rs 25.80 crore (62.6 per cent of TIO) and increased 15.2 per cent from Rs 28.15 crore (54.2 per cent of TIO) in Q1-2016.

     

    Other Income in the current quarter was Rs 0.05 crore; Rs 0.07 crore in Q2-2015; and Rs 0.02 crore, in Q1-2016.

     

    Saregama’s Total Expense in the current quarter at Rs 54.14 crore (96.9 per cent of TIO) was 34.2 per cent more than the Rs 40.33 crore (97.9 per cent of TIO) in Q2-2015 and 10.5 per cent more than the Rs 49 crore (94.3 per cent of TIO) in Q1-2016.

     

    The company’s Royalty Fee expense in Q2-2016 at Rs 5.34 crore (9.6 per cent of TIO) increased 16.6 per cent YoY from Rs 4.58 crore (11.1 per cent of TIO) and increased 11.5 per cent QoQ from Rs 4.79 crore (9.2 per cent of TIO).

     

    Saregama’s advertising and sales promotion expense in Q2-2016 at Rs 4.2 crore (7.5 per cent of TIO) increased 35.9 per cent YoY from Rs 3.09 crore (7.5 per cent of TIO) and almost doubled (increased 97.2 per cent) QoQ from Rs 2.13 crore (4.1 per cent of TIO).

     

    Employee Benefit Expense in the current quarter at Rs 11.41 crore (20.4 per cent of IO) was 68.3 per cent more than the Rs 6.78 crore (16.5 per cent of TIO) in Q2-2015 and 29.7 per cent more than the Rs 8.80 crore (16.9 per cent of TIO) in the immediate trailing quarter.

  • Sony Music’s Shridhar Subramaniam succeeds Ganesh Jain as PPL chairman

    Sony Music’s Shridhar Subramaniam succeeds Ganesh Jain as PPL chairman

    MUMBAI: Sony Music Entertainment president India & Middle East Shridhar Subramaniam has been unanimously elected as the chairman of Phonographic Performance Limited (PPL) the by board of directors representing Saregama, Universal, Tips, Venus and Aditya Music.

     

    Venus Worldwide Entertainment Private Limited chairman Ganesh Jain, who presided over PPL during one of the four most challenging years of the organisation.

     

    Jain said, “It gives me great pleasure to pass on the baton to a stalwart in the music industry and I believe Shridhar with his unique ability and experience will steer the industry successfully into the next phase of expansion.”

     

    “These are exciting times. The industry has great opportunities as well as challenges ahead and with the help of the Board and Management, I hope to bring a sense of optimism and inclusiveness to PPL and the industry and I am confident that we will collectively build the foundations for a strong future,” added Subramaniam. 

     

    Universal Music Group South Asia managing director Devraj Sanyal, Tips Industries managing director Kumar Taurani, Saregama India managing director Vikram Mehra and Aditya Music chairman Umesh Gupta expressed their support to Subramaniam.

     

    President of Honour V.J. Lazarus, who spent the last 10 years at PPL will be concluding his long innings with the association in March 2016. Lazarus has a experience of 45 years in the industry, the first 35 as Universal Music Group India managing director and later chairman.

     

    Lazarus said, “I will dedicate these final six months of my tenure to facilitate and support chairman Shridhar Subramaniam, the PPL Board and the Management through this transition.”

     

    PPL was incorporated in 1941 and is the apex-licensing arm of the Indian music industry and administers Public Performance and Broadcasting rights on behalf of over 200 members, which include the leading music companies like Saregama, Sony, Universal, Tips, Venues, Aditya Music, Times Music, Eros and Music Today amongst others.