SaReGaMa, a RPSG Group company, posted an increase of 4.3% in revenue from operations to Rs 213.05 crore in Q4, FY24 as compared to Rs 204.26 crore in Q4, FY23. The net profit grew by 23.59% to Rs 53.90 crore in Q4, FY24 from Rs 43.61 crore in Q4, FY23. The company posted an increase of 9.66% in revenue from operations to Rs 866.66 crore in FY24 from Rs 790.25 crore in FY23. The net profit for the period grew by 6.76% to Rs 197.56 crore in FY24 from Rs 185.05 crore in FY23.
Revenue from music grew by 50.36% to Rs 87.89 crore in Q4, FY24 from Rs 58.45 crore in Q4, FY23. The company’s performance is led by growth in music licensing on account of advertisement revenues driven by its investment in new music and the revenues generated through the artist management vertical. This quarter witnessed music release of A.R.Rahman and Diljit Dosanjh’s Chamkila, Ajay Devgn’s Maidaan, Ram Charan and Kiara Advani’s Game Changer, Yami Gautam’s Article 370, Mohanlal’s Malaikottai Valliban, Diljit Dosanjh single Love Ya, multiple songs by Bhojpuri star Neelkamal, Pawan Singh and Gujrati’s number one singer, Rakesh Barot.
Additionally, digital footprint across SaReGaMa owned and controlled channels touched 239 million followers and subscribers across YouTube, Instagram and Facebook.
“FY24 has been a significant year of transition with Saregama adopting a customer first approach, which is demonstrated by the diverse nature of content released across target segments, genres and languages. Our acquisition of digital entertainment company Pocket Aces, bold moves to launch artist management and event management segments is a testament to our strategy of being future ready,” Avarna Jain, vice chairperson, Saregama India, said.