Indian music and film company Saregama has been talking about the strong growth it’s seeing from audio music-streaming services, as well as from YouTube. By the end of 2017, the company’s music catalogue was generating 724m quarterly streams on audio services like Saavn, Gaana and Wynk Music according to local site Medianama.
That’s up from 503m in the final quarter of 2016, representing 44% year-on-year growth. As for YouTube, in March 2018 Saregama’s channel generated 186m views, up from 88m in March 2017 – 111% year-on-year growth. Overall: “3.1 billion times a Saregama music IP was consumed by someone in some part of the world in 28 days,” said the company. “And we know which song got played for each of these 3.1 billion instances.”
The company also reported that in its 2017-18 financial year, its music revenues more than doubled. Saragema’s statement on the growth also stressed that “Consolidation may happen across OTT buyers, but the total streams will continue growing” – ‘OTT buyers’ referring to streaming services in this case, and specifically to the recent merger between Saavn and JioMusic.
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