Tips Industries inked a deal with Sony Music Publishing, a leading global music publishing firm, to manage and promote Tips Music’s extensive collection of songs in global markets, seeing its share price soar over 7%.
What Happened? The collaboration will increase publishing revenues for Tips Music and introduce Indian music to international audiences. The major agreement arrives amid the music label’s domestic expansion plans this year.
Tips Music announced its foray into the Tamil music market in April with the launch of its new music label, Tips Tamil. This move comes as part of the company’s expansion strategy and a desire to tap into the thriving Tamil music industry.
The company has been a major player in the Indian music industry for over 30 years, and has produced and distributed music in a variety of languages, including Hindi, Punjabi, Bengali, and Marathi. The launch of Tips Tamil marks a major milestone for the company, as it enters the highly competitive Tamil music market.
During the third quarter of the 2023 financial year, Tips Music released a total of 243 songs, which included both film and non-film songs. In contrast, they had released 215 songs in FY21, and notably, 276 songs in FY22. The company plans to release approximately 10-12 major films across all languages for FY24.
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Share Price: Tips Industries’ share price was up 6.89% to trade at ₹163 on Friday afternoon.
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