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Tag: TIPS Industries Ltd

  • TIPS industries reports 40 per cent revenue growth, 61 per cent PAT increase Y-o-Y

    TIPS industries reports 40 per cent revenue growth, 61 per cent PAT increase Y-o-Y

    Mumbai: TIPS Industries Ltd (Tips Music), a music label which creates and monetises music, announced its financial results for the quarter ending 30 June 2024.

    Revenue from Operations  73.9  52.6  40%  63.3  17%  241.6  186.8  29%
    Op. EBITDA  54.4  35.0  55%  30.2  80%  158.5  101.9  55%
    Op. EBITDA %  73.6%  66.6%    47.7%    65.6%  54.6%  
    Op. EBIT  58.4  36.5  60%  35.0  67%  170.9  105.9  61%
    PAT  43.6  27.1  61%  25.8  70%  127.2  76.5  66%
    PAT Margin  58.9%  51.5%    40.7%    52.7%  41.0%  

    Commenting on the Results,

    Kumar Taurani – chairman & managing director said, “I am delighted to share with you that the Q1 FY2025 has been remarkable for us. Our revenue for the Quarter stood at Rs  73.9 Crores up by 40 per cent YoY with a PAT of Rs  43.6 Crores increasing by 61 per cnet YoY. This demonstrates our commitment to growing and improving our business. In Q1 FY25, we released around 97 new songs out of which, 18 were new Film songs and 79 Non-Film songs. Our primary focus is always on quality music. We have successfully completed the buyback of shares amounting to Rs 46.62 crores inclusive of all taxes for non-promoter shareholders. We remain committed to returning value to our shareholders.”

    Girish Taurani – executive director said, “Last quarter, our notable releases ‘Choli ke Peeche’ and ‘Naina’ from the movie Crew each surpassed 100 million views on YouTube. Our track ‘Soni Soni’ from Ishq Vishk Rebound reached the top 10 on Spotify charts. Other songs from the film, including ‘Ishq Vishk Pyaar Vyaar’ and the revamped “Gore Gore Mukhde Pe” by Badshah, have also been well received, reflecting our dedication to delivering engaging music content.

    Hari Nair – chief executive officer said, “Our music is experiencing solid growth across all digital platforms, with YouTube, Spotify, and Jio Saavn being key drivers for both new releases and our catalogue.” 

  • TIPS Industries reports another quarter of stellar growth

    TIPS Industries reports another quarter of stellar growth

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

    Key Highlights:

    ✔ Reports stellar quarterly revenue growth with revenues of Rs 64.8 Cr, reflecting a y-o-y growth of 27 per cent. Revenue for 9M FY24 stood at Rs 178.3 cr up 32 per cent y-o-y

    ✔ The content cost for the quarter stood at ₹ 14.7 Cr compared to Rs 18.7 Cr in Q3FY23. The Content cost for 9M FY24 stood at Rs 31.6 Cr.

    ✔ For Q3FY24 the company released 165 new songs. Out of 165 new songs, 82 were new film songs and 83 Non-Film songs. Key releases during the last quarter were High Hukku song by King and Merry Christmas title film track. Multilingual songs from HanuMan movie were also released and are picking up.

    ✔ YouTube subscribers now stand at 93 Mn. For Q3FY24 YouTube views were 47 Bn up 52 per cent y-o-y

    ✔ The Board of Directors have approved an interim dividend of ₹ 3 per share for Q3 FY24 taking the total interim dividend for 9M FY24 to 6 per share; as part of our ongoing efforts to reward our shareholder.

    Commenting on the results, chairman & managing director Kumar Taurani said, “I am pleased to announce another quarter of stellar growth at Tips Industries Limited. Our commitment to excellence and strategic initiatives has resulted in yet another quarter of notable achievements. We achieved a substantial 27% YoY quarterly revenue growth, with revenues reaching ₹64.8 Cr. Our content costs stood at ₹14.7 Cr for the quarter, compared to ₹18.7 Cr in Q3FY23, with a total of ₹31.6 Cr for 9M FY24. In terms of content releases, we successfully launched 165 new songs in Q3FY24, including 82 new film songs and 83 Non-Film songs, featuring key releases like the impactful “High Hukku” by King and “Merry Christmas” title track. On the digital front, our YouTube presence continues to thrive, boasting 93 million subscribers, and in Q3FY24 alone, we recorded 47 billion views, reflecting an impressive 52% YoY growth. In a move to reward our shareholders, the Board of Directors has approved an interim dividend of ₹ 3 per share for Q3 FY24, bringing the total interim dividend for 9M FY24 to ₹ 6 per share. In conclusion, these achievements reflect the dedication and hard work of every member at Tips. Going ahead, we remain focused on our strategic goals and continue to drive innovation and excellence in all our endeavours.”

  • TIPS Industries onboards Kiran Dcruz as senior vice president for brands and partnerships

    TIPS Industries onboards Kiran Dcruz as senior vice president for brands and partnerships

    Mumbai: TIPS Industries Ltd. (TIPS), a leading player in the music and entertainment industry, today announced the appointment of  Kiran Dcruz as senior vice president for brands and partnerships. In his new role, Kiran will lead the strategy for the TIPS Music brand and build collaborative partnerships between brands, artists and music.  

    With over two decades across various sales and business head roles in the TV, Radio and Music industry, Kiran Dcruz will bring his deep understanding of the entertainment sector to his new role. His expertise in strategy, music licensing, content creation and team management aligns seamlessly with TIPS Industries’ commitment to innovation and growth. Prior to joining TIPS Industries, Kiran served as head of brand Partnerships at Sony Entertainment Talent Ventures, where he played a pivotal role in setting up India’s first Metaverse consulting company for Brands and Talent.  

    Chairman and managing director, Kumar Taurani said, “We welcome Kiran to Tips Industries. We leverage his extensive experience to drive strategic brand initiatives and expand the company’s footprint in the evolving entertainment and media landscape. This is in line with our commitment of delivering 30 per cent growth to our investors”

    TIPS Industries C.E.O Hari Nair mentions “Kiran is an experienced creative professional who has a proven track record in ideating and creating great partnerships between music, artists and brands. His expertise aligns very well with our objectives of opening up new revenue streams for Tips. I wish him the best”

    TIPS Industries senior vice president of brands and partnerships Kiran Dcruz said, “I’m delighted to become a part of TIPS Industries, a goldmine of music content. Tip’s music is working wonders now & it’s the perfect time to re-imagine opportunities and create music experiences through strategic brand partnerships. I look forward to contributing to the revenues & growth of our company”

    Kiran has previously worked with brands like MTV, Fever, Red FM, Radio One and Sony Music Entertainment, handling multiple roles.  At Sony Music Entertainment, he was the director of brand partnerships and music Licensing for eight years and was instrumental in setting up the Brand vertical. This was followed by his role as head of brand Partnerships at Sony Entertainment Talent Ventures prior to joining TIPS Industries.

  • Tips Industries records highest quarterly revenue

    Tips Industries records highest quarterly revenue

    Mumbai: TIPS Industries Ltd (Tips Music), a leading Indian music label which creates and monetises music, announced its financial results for the quarter ending 30 September 2023.

    Key financial performance

    Key Highlights:

    ✔ Recorded highest ever quarterly revenue of ₹ 60.9 Cr, a growth of 23% y-o-y. Revenue for H1 FY24 stood at ₹ 113.5 cr up 35% y-o-y

    ✔ The content cost for the quarter stood at ₹ 4.7 Cr compared to ₹ 17.2 Cr in Q2 FY23

    ✔ For Q2FY24 the company released 130 new songs. Out of 130 new songs, 62 were new film songs and 68 Non-Film songs

    ✔ YouTube subscribers now stand at 89.7 Mn. For Q2FY24 YouTube views were 50.9 Bn up 86% y-o-y

    ✔ The Board of Directors have approved an interim dividend of ₹ 2.00 per share for Q2 FY24 taking the total interim dividend for H1 FY24 to ₹ 3.00 per share; as part of our ongoing efforts to reward our shareholders

    ✔ Mr. Hari Nair has joined as the company’s new Chief Executive Officer. He brings in 25 years of overall experience, of which the last two decades were in the music ecosystem

    Commenting on the results, chairman & managing director Kumar Taurani said, “I am pleased to announce that Tips has achieved the highest ever quarterly revenue of Rs. 61 crore, representing a growth of 23% year-on-year. This achievement is a testament to the hard work and dedication of our entire team.

    During this period, we released a total of 130 new songs of which, 62 were captivating new film songs and 68 were non-film songs. This diverse range of music showcases our ability to cater to a wide spectrum of tastes and preferences, solidifying our position as one of the leading music labels in the industry. In the digital realm, our YouTube channel subscriber numbers have reached 89.7 mn while our YouTube views for Q2FY24 reached 50.9 bn up 86% y-o-y. This reflects the popularity of our repertoire. I want to share another positive development with you. Mr. Hari Nair has recently joined us as our CEO. He has over 25 years of diverse experience in media and technology. Mr. Nair brings a wealth of knowledge and expertise to our organization. His extensive background in the music industry, spanning two decades, further strengthens our leadership team. I am confident that under his guidance, we will continue to innovate and thrive in this dynamic industry.

    I want to express my gratitude to all our stakeholders who have supported and believed in our vision. We remain committed to delivering exceptional music experiences and exploring new avenues for growth.”

  • TIPS Industries receives favourable judgment in dispute against Wynk

    TIPS Industries receives favourable judgment in dispute against Wynk

    Mumbai: TIPS Industries Ltd., India’s music label and a leading player in the music and entertainment industry, has announced that the company had received a favourable judgement from the Division Bench of the Hon’ble Bombay High Court in their legal proceedings against Wynk Ltd. The judgment highlighted the fact that Wynk Ltd. had utilised TIPS Industries’ content without a formal commercial arrangement and disallowed Wnyk from using any part of the TIPS repertoire and upheld previous single bench judgment by the Hon’ble Justice S J Kathawalla.

    A spokesperson from TIPS Industries Ltd. said, “We hold the court’s decision in high regard and appreciate its thorough examination of the case. Our primary objective throughout this process has been to ensure that the rights of copyright holders are upheld. We hope this judgment will serve as a landmark for similar cases in the entertainment industry, emphasising the importance of copyright laws.”

    The court’s judgment provides a detailed and objective interpretation of certain provisions of the Section 31D of the Copyright Act, 1957.

    In summary, a dispute between TIPS Industries and Wynk Ltd. concerned the utilisation of TIPS Industries’ repertoire by Wynk Ltd. without an established commercial agreement. Over the course of the dispute, despite multiple communications and efforts to reach a commercial resolution, a mutual agreement could not be achieved. As a result, TIPS Industries requested Wynk to remove the entire TIPS repertoire from its platform, failing which and followed by a statutory license notice issued by Wynk to Tips, Tips had to seek refuge under the legislative framework before the Hon’ble Bombay High Court.

    Tips managing director Kumar Taurani had to say, “It’s been a long journey on this case, since 2016 from its start and between Covid-19 and right until today. We are grateful for this order and sincerely thank the judicial system. There’s no doubt that we have lost business and faced losses over these last 7 years but this judgement paves the way forward for all copyright holders. We are here to do business and now that there’s a clear legal mandate we hope that this will further fuel Tips’s growth.”

  • Tips Film garners 3 million fans on Facebook!

    Tips Film garners 3 million fans on Facebook!

    MUMBAI: Tips Films, one of India’s most active entertainment brands in the digital space, crossed an unprecedented milestone this week with their Facebook community crossing 3 million fans in less than three years.

     

    Mr. Kumar S. Taurani, (Chairman & Managing Director) of Tips Industries Ltd. said,  “Films being an integral part of our business, we are thrilled to have crossed such an important milestone on Facebook. This only goes to show our increasing popularity on social media. Recently, our music banner Tips Music too crossed the 5 million mark on Facebook and we would like to thank all our fans for their continued support.”

     

    Tips Industries has industry experience of over 30 years of engaging audiences with films and music. Realizing the potential of digital media, they have steadily built their fan community with various consumer oriented engagements over a number of years. They have always given entertainment buffs full access to information about various artists, music, and movies through social media initiatives. Across various communities, Tips currently reaches out to an audience of 13 million + fans on Facebook and 1.5 million+ fans on Google+.

     

    Pioneers of the film and digital music industry in India, Tips Industries have used the entire media gamut to be at the forefront of the Indian entertainment industry. The company is now gearing for their next film, It’s Entertainment starring Akshay Kumar & Tamannah Bhatia releasing 8th August, 2014.