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Sony Music sees 50 pc jump in revenues

04-January-2002
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Sony Music sees 50 pc jump in revenues

Sony Music India’s revenues for the third quarter ended December 31, 2001, are expected to be about 50 percent higher than the corresponding quarter for the previous financial year. A large chunk of this is expected to come from the sale of the music of “Kabhi Khushi Kabhie Ghum.”

Sony Music Entertainment India plans to acquire the music rights of two to three Hindi films during the current year. The company is expected to begin discussions with producers over the next few months.

The company’s other plans will be to push “Mega” which is Sony Music’s brand for the devotional category.

Sony Music had three big Hindi film releases during 2001 - “Lagaan”, “Asoka” and “K3G.” Industry sources have indicated that Sony Music acquired the rights for “K3G” for about Rs 10 crores.

The music for the film has so far recorded a total sale of 4.8 million which comprises music cassettes and compact discs (CDs). Music cassettes accounted for 97 per cent of total sales while CDs contributed the remainder.

Sony Music’s biggest musical hit to date has been “Kuch Kuch Hota Hai” which sold in excess of seven million units. The company is confident of K3G overtaking that figure and becoming the year’s biggest hit. The sales for K3G have been around 1.5 million units per month.

“Lagaan”, the other big release from Sony Music has clocked sales of 3.2 million units. “Effectively, ‘Lagaan’ and K3G have together sold approximately eight million units during 2001.

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