WARNER MUSIC AND TIPS INDUSTRIES LIMITED EXPAND THEIR PARTNERSHIP

Strategic New Deal Gives Warner Music Access To Tips Music’s Full Extensive Catalogue Globally

MUMBAI,1 March 2024: Having enjoyed a successful partnership for more than three years, Warner Music has announced it has expanded its agreement with Tips Industries Limited (Tips Music), one of the leading music labels of India based in Mumbai.

Warner Music has been exclusively distributing Tips Music’s 13,000+ strong Hindi catalogue since 2020, and has played an important role in growing the company’s Bollywood soundtracks on the international stage. Warner Music, with its global teams, have offered specialist commercial support across  various Digital Service Providers (DSPs) - pitching and landing key playlist spots across frontline and catalogue releases. 

This new deal will now see Warner Music take on the commercial and distribution responsibilities for all Tips Music’s frontline and catalogue music on all audio streaming apps, which spans across 23 Indian languages and 30,000+ songs. With access to even more incredible music from Tips Music catalogue, Warner Music will use its extensive global network of experts to promote Tips Music’s artists and songs around the world, opening them up to new fans and opportunities. 

Tips Industries Limited (Tips Music) , which recently reported a 27% YoY increase in revenue in its Q3 earnings statement, is known for its huge success in the Bollywood market. It is the owner of the lion’s share of local film soundtracks from the 1990s and continues to be a major music label in India.

Kumar Taurani, Managing Director of Tips Industries Limited, expressed his enthusiasm for the partnership, stating: "Warner Music has been our trusted partner for the last few years and it has worked very well for both of us. It is with great pleasure that we announce an extension of the existing partnership into a much wider global distribution deal. It is the beginning of a larger partnership between both companies. With Tips Music’s “Must Have Hits” catalogue and Warner Music’s distribution strength, we envision Tips Music to become one of the Top Three music labels in India. We thank the Warner Music board, its leaders and the teams for believing in Tips Music and our vision for the market. This strategy and partnership is in line with our commitment to our esteemed stakeholders and investors.”

Alfonso Perez-Soto, President, Emerging Markets, Warner Music, added: “Over the last few years, Warner Music has enjoyed access to Tips Music’s amazing Hindi catalogue and been able to offer unique sales support, which has seen us successfully promote its Bollywood soundtracks to a global audience. We’re now able to tap into even more incredible music, and our teams around the world will be looking to connect Tips Music’s artists and songs with more international fans. At Warner Music, we believe we can be a major force in further growing Bollywood music’s popularity around the world.” 

Jay Mehta, Managing Director, Warner Music India, concluded: “Warner Music India and Tips Music have had a trajectory re-defining partnership in the last few years, by synergising the expertise the teams have built across the years. To say that Tips Music repertoire has created iconic musical moments across the decades, is stating the obvious. Our next phase of this partnership is going to be even larger and greater as, together, we make Indian music mainstream across the world.” 

Further detailing the strategic & financial impact this deal makes, Mr Hari Nair, CEO of Tips Industries Ltd  says: "We are excited to partner with Warner Music and extend our deal to a much larger scale, at a national and global level. The audiences on various international and Indian streaming services, will now be able to stream our music. Most importantly this deal also enables us to distribute our music to the world’s largest social media platform, Meta. Overall, this partnership will improve distribution of our content thus enhancing revenue for our company. We look forward to engaging and working more closely with Warner Music.

On enabling a global reach for their artists & music, Mr. Girish Kumar, COO of Tips Industries Ltd commented: "Today, we have signed an important strategic deal with Warner Music, who have been a brilliant team to work with. This distribution deal allows us to focus more on our core competency - finding new talent, building our own music and acquiring more film music content. Our vision back in the 1980’s was “To Introduce Promising Singers” - what TIPS as a brand stands for. Our artist will benefit from the best via this massive distribution deal. Artists partnering with us, and powered by Warner Music, will be truly global.”