iWorld
Hoopr gets MeitY boost to bring order to India’s digital music
MUMBAI: In a digital world where music travels faster than rules can keep up, Hoopr is stepping in to restore rhythm and reason. The music licensing platform has received institutional backing from Atal Incubation Centre Goa Institute of Management (AIC-GIM), under the Ministry of Electronics and Information Technology’s Samridh programme, to help shape modern frameworks for India’s fast-growing digital music economy.
Backed by an undisclosed investment, the support signals a move towards cleaner, clearer and more compliant music usage online. For an ecosystem where creativity often races ahead of governance, Hoopr’s mandate is simple. Make licensing transparent, scalable and fair for everyone involved.
Sitting at the crossroads of music, technology and the creator economy, Hoopr has quietly built serious scale. Over the past three years, it has onboarded more than 1,500 artists, curated a catalogue of over 15,000 tracks and paid out more than Rs 4.5 crore directly to creators. Today, its music powers ethical usage for over 4 lakh creators and more than 200 brands, earning Hoopr a reputation as one of India’s most reliable digital licensing platforms.
The timing could not be sharper. With nearly 80,000 brands and close to 6 lakh creators producing content daily, music is everywhere. Yet almost 87 per cent of usage remains unregulated. The result is a grey zone where artists lose out, brands face risk and creators remain unsure. Hoopr’s government-backed push aims to narrow that gap.
As short-form video and creator-led content redefine entertainment, legacy copyright systems built for linear media are struggling to cope. Under the MeitY Samridh programme, Hoopr is helping design future-ready licensing infrastructure using transparent digital workflows, real-time tracking of music usage and equitable royalty distribution. Its integration with the Indian Performing Right Society further strengthens this effort.
AIC-GIM CEO Sumit Garg, said Hoopr is tackling a long-standing structural gap. He noted that the programme has supported the platform in strengthening its technology, compliance systems and readiness to contribute to national digital rights governance.
For Hoopr’s leadership, the backing is both validation and responsibility. Co-founder and CEO Gaurav Dagaonkar said the digital shift has changed how music is created, shared and monetised, making technology-led frameworks essential for responsible growth. Co-founder Meghna Mittal added that scalable systems to monitor music usage in real time are no longer optional but necessary to ensure fairness and accountability.
As India’s digital ambitions continue to swell, this partnership strikes a hopeful chord. One where creativity thrives, rules are clear and artists finally get their due.
Gaming
Bluestone FY26 revenue rises to Rs 2,436 crore, turns profitable
Q4 profit at Rs 31 crore, full-year profit at Rs 13 crore vs loss last year.
MUMBAI: From sparkle to numbers, Bluestone seems to be polishing more than just jewellery this year. Bluestone Jewellery and Lifestyle Limited reported a sharp turnaround in FY26, with revenue from operations rising to Rs 2,436 crore (Rs 24,364 million), up from Rs 1,770 crore (Rs 17,700 million) in FY25. The company posted a full-year profit of Rs 13 crore (Rs 131.79 million), a significant recovery from a loss of Rs 222 crore (Rs 2,218 million) a year ago.
Total income for the year stood at Rs 2,486 crore (Rs 24,860 million), compared to Rs 1,830 crore (Rs 18,300 million) in the previous year, reflecting both topline growth and improved operational momentum.
The March quarter, however, told a more nuanced story. Revenue from operations came in at Rs 681 crore (Rs 6,814 million), down from Rs 748 crore (Rs 7,486 million) in the year-ago period, though higher than Rs 461 crore (Rs 4,613 million) in the preceding December quarter. Net profit for Q4 stood at Rs 31 crore (Rs 311.81 million), compared to Rs 68 crore (Rs 688 million) a year earlier, but a clear reversal from a loss of Rs 51 crore (Rs 512 million) in Q3.
Margins were shaped by higher input costs, with raw material consumption rising to Rs 2,204 crore (Rs 22,043 million) for the full year, alongside employee benefit expenses of Rs 282 crore (Rs 2,824 million) and finance costs of Rs 210 crore (Rs 2,104 million). Other expenses came in at Rs 371 crore (Rs 3,715 million), slightly lower than Rs 393 crore (Rs 3,938 million) in FY25.
On the balance sheet front, total assets expanded to Rs 4,961 crore (Rs 49,610 million) as of March 31, 2026, from Rs 3,532 crore (Rs 35,322 million) a year earlier, driven largely by a surge in inventories to Rs 2,672 crore (Rs 26,718 million). Equity also strengthened to Rs 1,803 crore (Rs 18,030 million), nearly doubling from Rs 911 crore (Rs 9,107 million).
Cash flows reflected the cost of growth. Net cash used in operating activities stood at Rs 199 crore (Rs 1,990 million), while investing activities saw an outflow of Rs 239 crore (Rs 2,392 million). Financing activities, however, generated Rs 497 crore (Rs 4,971 million), helping the company end the year with cash and cash equivalents of Rs 108 crore (Rs 1,075 million), up from Rs 49 crore (Rs 487 million).
Earnings per share for FY26 came in at Rs 1.10, a sharp improvement from a negative Rs 79.74 in FY25, underlining the shift from losses to profitability.
With revenue scaling up, costs still glittering on the higher side, and profitability finally back in the black, BlueStone’s FY26 performance suggests a business mid-transition less about shine alone, and more about sustaining it.
