Saregama Released Q4 FY2024 Results: Revenue Soared 29%

On May 23, 2024, Saregama, an RPSG Group company, announced its results for the quarter (Q4 FY2024) and year (FY2024) ended March 31, 2024.

Quarterly Performance

Operating Revenue for the company in Q4 FY24 was ₹2,631 million, expanding at a rate of 29% YoY and QoQ. The adjusted EBITDA of ₹864 million showed a 40% year-over-year increase. With a 31% YoY rise, the company produced a PBT of ₹760 Mn.

Yearly Performance

The company’s strong adjusted EBITDA of ₹3,029 million with a margin of 38% was accompanied by revenue from operations of ₹8,030 million for FY24. During FY24, the company produced a PBT of ₹2,708 Mn with a 34% Margin and a PAT of ₹1,976 million.

Operational Highlights

• The company’s expansion in music licensing is primarily responsible for its good performance, which is also fueled by its investment in new music and the revenue it receives from its artist management vertical.
• The company released 290 Originals and Premium Recreations in Bengali, Tamil, Telugu, Malayalam, Bengali, Gujarati, Punjabi, and Hindi throughout the quarter. Additionally, it issued 2,000 adaptations (LoFi, Trap Mix, Cover, Acoustic, etc.), which are contributing to the catalogue’s expansion and growing popularity.
• Yoodlee released the Malayalam film Anweshippin, starring Tovino Thomas and Mohanlal, and the Punjabi film Warning 2, starring Gippy Grewal.
• The company-owned and operated channels on Facebook, Instagram, and YouTube have reached 239 million users and subscribers.

“FY24 has been a significant year of transition, with Saregama adopting a customer-first approach, 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,” said Avarna Jain, Vice Chairperson of Saregama India.

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