Indian music and films company Saregama has published its latest quarterly financial results, including strong growth for its music division. In fact, music generated 92% of Saregama’s revenues in the final quarter of 2018 (the company’s fiscal Q3) as they grew by 68% year-on-year to Rs 138.5 crore (around $19.5m).
Saregama also reported a quarterly profit for its music business of Rs 32.3 crore ($4.5m). The company revealed new figures for its Carvaan physical-music player: it sold 297k units last quarter, up 30% compared to the previous quarter, crossing 1m total sales so far.
Meanwhile, Saregama’s music catalogue generated just over 1bn audio streams in the last quarter – up 55.9% year-on-year – while its average monthly YouTube views grew by 114.8% to 784m.