Bharti Airtel owned Wynk Limited, which is the company's digital content provider has reported a turnover of Rs. 128.5 crores in the financial year 2017 ended on March 31. Airtel, back in March said that its Wynk Music now has over 2.6 million songs and also stated that it plays close to one billion songs every month.
A report of Medianama says that Wynk Limited has reported a profit of Rs. 4.1 crores in FY17. "This is a significant jump from Rs 49 crores reported by the company in FY16, up by around 2.62 times. Profit for the company increased to Rs 4.1 crores, up 2.56 times from Rs 1.6 crores in FY16," states the report.
However, the capital expenditure of the venture declined to Rs. 11 crore in FY17, down from Rs. 16.2 crores in FY16. "The company was incorporated towards the end of FY15, so no figures for FY15 were available. Note that Wynk doesn’t just have music: it also includes Movies and Gaming," the report cites.
Both of the Wynk Limited's Wynk Music and Airtel TV (formerly Airtel Movies) apps are the popular content apps among the users in India. Airtel recently revealed that 45 percent of Wynk Music users are non-Airtel customers and the application has over five million downloads at the moment.
Furthermore, Airtel is getting a stiff competition in the digital content segment, of late from the likes of Reliance Jio, Idea Cellular, and Vodafone India. Airtel also added the Live TV feature recently to the Airtel TV application.
Vodafone India unveiled the Vodafone Play service, while Idea Cellular launched a bouquet of content services such as Idea Movie Club, Idea Music Lounge, and Idea Game Spark. On the other hand, the new entrant Reliance Jio unveiled its JioCinema app for movies, TV shows, latest & upcoming movie trailer, etc. Jio has the JioMusic app for music streaming, while the JioTV app helps the company in the Live TV segment.
All in all, Airtel is still leading the content department in the country, and it's interesting how the results fare this year for the leading telecom operator.