India-based record label Tips has inked a worldwide licensing agreement with Facebook for use of its music across the Facebook platform as well as Instagram.
Tips Music, part of entertainment firm Tips Industries Ltd., is one of the leading independent labels in India, with a catalog exceeding 25,000 songs and over 35m channel subscribers on YouTube.
Tips’ Hindi YouTube content currently receives over 5 billion views per month, according to its partner, Warner Music Group.
As a result of the new deal, Facebook and Instagram users will be able to add Tips’ music catalog to their posts and stories.
Tips’ music catalog includes music fronted by artists such as Atif Aslam, Kumar Sanu, Alka Yagnik and Udit Narayan.
Facebook and Instagram users will be able to add music from the Tips catalog to their social experiences such as videos, stories via music stickers and other creative content.
Kumar Taurani, Chairman and MD of Tips, said: “We are happy to collaborate with Facebook on this deal, millions of Facebook and Instagram users across the World will now be able to add Tips’ music to their stories and videos for them to create and share. And this on the eve of Varun Dhawan’s and Sara Ali Khan’s Coolie No.1 music release is the cherry on the cake.
“We hope Tips’ music helps the users to express themselves, make their content premium and make some beautiful memories”.
Manish Chopra, Director & Head of Partnerships, Facebook India, said: “We are committed to building an ecosystem that enables music video experiences, as it spurs connection and expression on Facebook and Instagram. We continue to grow our music library and this partnership with Tips Music strengthens our music offering by bringing the very best of the ’90s.
“Together, the popularity of songs in their catalog and new features from us like [Instagram] Reels, presents an exciting opportunity for creators, and we’re glad to be partnering with them for it.”
“We are happy to collaborate with Facebook on this deal, millions of Facebook and Instagram users across the World will now be able to add Tips’ music to their stories and videos for them to create and share.”
Kumar Taurani, Tips Music (pictured)
Tips Industries generated 6,673.88 Lakh from music audio & video in the 12 months to end of March 2019 according to its latest annual report, which works out at approximately $8.8m.
According to the IFPI’s most recent Global Music Report, India’s local recorded music market saw wholesale revenues of $181.4m in 2019, up 18.7%. However, streaming subscription revenue only grew by 5.3%, from 41.6m to $43.8m.Music Business Worldwide