Mumbai: Tips Music (Tips Industries Limited), India’s music label, has announced its ambitious growth plans for FY24, revamping its focus on strategically expanding the regional content offerings. As part of these growth plans, the company is targeting to achieve approximately 30 per cent y-o-y top line growth for the next three years.
The company has reaffirmed its commitment to the South Indian film music industry by acquiring the audio rights of Mani Ratnam's Tamil film series, Ponniyin Selvan: I (PS-1) and Ponniyin Selvan: 2 (PS-2). The success of PS-1 and other Tamil films has motivated the company to prioritise and enhance its market presence in the South for the upcoming financial year. This strategic move reflects Tips Music's vision of expanding its portfolio and strengthening its partnerships with leading composers and artists in the region, while delivering exceptional music experience to its audience.
Tips Music chairman and managing director Kumar Taurani said, “At Tips Music, we aim to explore the exponential untapped potential of the South Indian music industry. With its rich cultural heritage and diverse audience base, the Tamil music market presents a tremendous opportunity for us to showcase our expertise in delivering exceptional music experiences. Through strategic associations and partnerships with the brightest talent in the region, we are committed to expanding our content portfolio and market share among the Tamil audiences.”
The first song and trailer launch of Ponniyin Selvan: 2 (PS-2) received an overwhelming response from fans and audiences on major social media platforms, after its release. Taurani added, “As we embark on this journey, we are excited about our upcoming projects in the South Indian market, including the highly anticipated movie Merry Christmas featuring Vijay Sethupathi and Katrina Kaif, directed by Sriram Raghavan. The film is produced by Tips Films Ltd. (A sister concern of Tips Music) is a bi-lingual film in Hindi and Tamil and will be released across all markets in South India.”
In Q3FY23, Tips Music released a total of 243 songs, including both film and non-film songs, compared to 215 songs in FY21 and 276 songs in FY22. The company plans to release approximately 10-12 major films across all languages for FY24, reflecting their continued commitment to delivering outstanding music experiences to their audience.
The company's strategic focus on launches and its extensive catalogue of songs have driven a surge in consumption across various platforms, leading to this optimistic growth forecast. Tips Music boasts of a vast music catalogue of over 30,000 tracks and 5,500 albums spanning 24 languages.
