Music and Youth
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.”
MUMBAI: Mumbai is about to witness something it has never seen before. The Global Youth Festival arrives on 6-7 December at Jio World Garden with 15,000 attendees and 60-plus experiences sprawled across six sprawling arenas. On its sixth edition, this is no ordinary jamboree—it is a carefully orchestrated collision of wellness, adventure, arts, music, yoga and social change.
Chief Minister of Maharashtra Devendra Fadnavis will throw open the proceedings with a landmark ceremony, signalling the state’s backing for a movement that has already mobilised youth across 20-plus countries and 170-plus cities. The sheer scale is staggering: 500-plus volunteers powering the machine, 600,000-plus volunteer hours logged across previous editions, and millions of lives touched annually.
The speaker roster is formidable. Diipa Büller-Khosla and Dipali Goenka, chief executive of Welspun India, will share the stage with Malaika Arora in conversations spanning leadership, creativity and culture. Union Minister for Sports and Youth Affairs Mansukhbhai Mandaviya will also attend, reinforcing GYF’s reach into the corridors of power.
But this is not mere talk. The Solaris Mainstage promises concerts from renowned Indian artists. Innerverse delivers a 360-degree LED spectacle of art, technology and sound. The Love and Care Arena houses hands-on projects spanning women’s empowerment, child education, rural upliftment and animal welfare. India’s largest outdoor sound-healing experience awaits. An inflatable obstacle course, neon drifter karts and open-sky bouldering cater to thrill-seekers.
Some have branded GYF the “Coachella of Consciousness.” Others call it “India’s Largest Sober Festival.” Spiritual visionary Pujya Gurudevshri Rakeshji, who inspired the festival, will deliver the Wisdom Masterclass. Every rupee goes to charity.
After Mumbai comes Kolkata on 14 December. New York looms next year. For one weekend in December, Mumbai becomes the epicentre of youth-driven change—and nothing will be quite the same after.
Tickets available on BookMyShow. Visit youthfestival.srmd.org or follow @globalyouthfestival on Instagram.
