Mumbai: Saregama, India’s oldest music label and the youngest movie studio, announced its financial results for the 4th Quarter of the Financial year 2020-21. Company PAT for the quarter at Rs 372 Mn registered a 151% growth compared to the same quarter last year and 19% on a QoQ basis.
FY21 PAT at Rs 1135 Mn is 161% higher than FY20 PAT of Rs 435 Mn.
PAT margin for FY21 is 26% against FY20 margin of 8%.
Saregama has consistently increased the monetisation of its IP (music, films, TV serials) over the last 13 quarters. Digitisation and low cost of data in India remain the primary growth drivers of content consumption. This is further fuelled by the increase in smartphones, the rising popularity of OTT and social media apps.
Music Licensing revenue in FY21 is up by 20%.
During this quarter, Saregama launched many Hindi and regional language non-film “Original” songs, from likes of B Praak, Mohit Chauhan, Sanam, Kaka, Goldie Sohel and Ramji Gulati. Many of these songs trended on YouTube and OTT platforms
With Carvaan Mini Kids continuing to win customer appreciation, Carvaan overall sold 110K units in Q4 FY21.
With one more movie licensed during the quarter, Yoodlee studio has released 16 films till now. The Tamil serial ‘Roja’ continues to hold its leadership position on Sun TV. The other two serials also continued registering high TRPs.
The fast-growing digitisation of India, buoyed by the present Covid situation, is the key driver of change in content consumption habits. This trend is expected to continue for a long time, and Saregama has aligned its content strategy to ride on this digital wave