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Sony Music sees 50% growth in topline

16-February-2004
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Sony Music sees 50% growth in topline

Sony Music Entertainment (India) will increase its topline growth by 50 per cent for the current financial year. This will boost its turnover for the current year, to about Rs 65 crore from approximately Rs 40 crore for the previous financial year.

According to Sony Music India’s managing director Shridhar Subramaniam, the company witnessed some big successes last year, like that of Karan Johar’s multi-crore film “Kal Ho Na Ho” and “Boom.” “We have sold two million copies in case of ’Kal Ho ...’, which has contributed to this tremendous growth,” he said.

Sony Music’s catalogue cuts across the categories of Hindi film music, international music, Indipop and devotional songs. Its prominent releases in the international sphere include “Beyond” and “Have I Told You Lately.” Mr Subramaniam pointed out that there would be some major releases in the area of Hindi film music this year. “We will be releasing the music of Farhaan Akhthar’s “Lakshya” and the Rajshri-produced “Uff Kya Jadoo Mohabbat Hai...!” he said.

Sony Music had earlier made its foray into the home video segment with the objective of expanding its business mix. This will be in the areas of films, television software and education. The company has already signed a deal with Discovery to market their programmes on DVDs. According to Mr Subramaniam, the home video for the ongoing India-Australia cricket series will also be released. “We are looking to release this within the next 4-6 weeks,” he said. Sony Music has already released the home videos for some of its films that include, “Kuch Kuch Hota Hai” and “Saathiya.”

Sony Music has released music of some mega budget films like “Kabhi Khushi Kabhie Gham”, “Lagaan” and “Asoka”. The company’s biggest hit to date has been Karan Johar’s “Kuch Kuch Hota Hai”, which sold in excess of seven million copies.

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