Good concall, transcript is out.
One key thing to note is that Tips does not have a deal with meta yet and promoter mentioned that you might hear some good news soon. Actually they are always hopeful so its just an optionality. Another important thing to note is that Tips does not have a minimum guarantee (MG) model with any platform like Saregama (used to?) had. I think I read in Saregama concall that they have decided to drop the model to support the platform’s transition to paid subscription only. So Saregama is supposed to have some near term dips due to MG going away but Tips shouldn’t get affected.
Promoter reiterated 30% guidance for both topline and bottomline. Content cost might be less this year next year they would try to be aggressive.
Overall PAT growth to be 40% for FY24 but might be more if they are not able to acquire music for one more movie in Q4.
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