India’s music business is booming, and nowhere is that extra evident than within the earnings of Mumbai-based Ideas Industries Ltd, also called Ideas Music.
The corporate is greatest recognized for its product catalog 30,000 songs Produced in additional than two dozen Indian languages, together with quite a few Bollywood blockbuster hits, with reported income of 739 million INR ($8.86 million) within the first quarter of fiscal yr 2025 (equal to the second quarter of 2024).
This marks a rise in 40% annual improveIdeas mentioned in an investor press launch on Wednesday (July 24).
The revenue after tax is 436 million INR (US$5.23 million on the quarter’s common alternate charge), leaping Annual improve of 61%which represents the after-tax revenue charge as 58.9%.
Working EBITDA additionally surged 55% annual improve arrive INR 54.4 Crores ($6.52 million).
Ideas Chairman and Managing Director Kumar Taurani Describing the revenue outcomes as “outstanding for us… it demonstrates our dedication to rising and enhancing the enterprise.”
He added: “Now we have efficiently accomplished a share buyback amounting to Indian Rupee 4666.2 Crores [466.2 million] Consists of all taxes for non-promoter shareholders. We stay dedicated to returning worth to our shareholders.
Firm proclaims interim dividend Indian rupee 2 rupees ($0.024) per share, complete fee 255.6 Crores INR (US$3.06 million).
Ideas for posting this season 97 new track amongst them 18 It is a film track. The corporate recorded YouTube subscribers of 104 million. Video acquired 62.2 billion Youtube view, upward 29% annual improve.
“Final quarter, we launched the well-known songs ‘Choli ke Peeche’ and ‘Naina’ from the film all employees Each one goes above and past 100000000 views on YouTube,” mentioned Girish Tauranigovt Director.
“Our monitor ‘Soni Soni’ comes from Ishq Vishk Bounce Enter the highest 10 Spotify chart. Different songs from the movie embrace “Ishq Vishk Pyaar Vyaar” and an association of “Gore Gore Mukhde Pe” badshahhas additionally been effectively acquired, reflecting our dedication to delivering participating music content material.
“Our music is rising steadily throughout all digital platforms, with YouTube, Spotify and Jio Saavn being key drivers of latest releases and our catalogue.”
Hari Nair, Ideas Industries Ltd.
“Our music is rising steadily throughout all digital platforms, with YouTube, Spotify and Jio Saavn being key drivers of latest releases and our catalogue,” the CEO added Harry Nair.
Ideas’ spectacular efficiency comes in opposition to a backdrop of continued prosperity within the Indian music business, notably on the buyer facet.
Knowledge from market monitoring firm Luminate’s 2023 year-end report reveals that India could surpass the USA as quickly as this yr and turn into the most important music streaming market by way of gross sales quantity.
In 2023, India’s progress charge shall be simply over 1 trillion Complete on-demand music streaming (together with audio and video) in contrast 1.454 trillion Streaming in the USA. Nonetheless, Indian streams develop greater than 46% By 2023, the expansion charge shall be roughly 12.7% Within the U.S.
Indian music has additionally skilled vital progress exterior India. World consumption of Indian music on Spotify grows 2,000% The streaming service just lately reported that inside 5 years 85% Development was achieved in 2023 alone.
throughout an interview MBW Earlier this yr, Kumar Taurani mentioned the largest demand progress for Ideas got here from the US, UK, Canada, Gulf international locations, Australia and Germany.
He identified that in India, customers are more and more keen to improve from ad-supported music streaming subscriptions to paid subscriptions – one thing that’s typically tough to realize in rising markets.
“Historically, India has favored free content material, however OTT platforms are actually efficiently driving customers in the direction of paid fashions. They’re implementing methods to incentivize paid subscriptions, resembling providing ad-free listening, the power to obtain music, and offline entry to songs,” he mentioned clarify.
Taurani predicts that the Indian music business will develop considerably within the coming years.
“Forecasts point out 15-20% annual progress charge, we anticipate that the business increase could improve the market dimension to approx. US$1.5 billion-Additionally, inside the subsequent 4 to 5 years,” he mentioned.international music enterprise
