India-based entertainment company Tips Industries has appointed Hari Nair, a former executive at Sony Music India and ByteDance, as its new CEO. Nair, who most recently served as ByteDance’s head of TikTok Artist Services for the Middle East, Africa, and South Asia, brings with him more than two decades of experience in the music industry. He has previously worked with various music distribution companies and led digital business for Sony Music India. Tips Industries, known for its Bollywood music catalog, aims to leverage Nair’s expertise in driving higher revenues and delivering value for shareholders.
Tips Industries, founded in 1988, has released music for several successful Bollywood films and is home to popular Bollywood artists. The company’s extensive music catalog comprises 30,000 songs across genres, languages, and decades. In its recent quarterly earnings report, Tips Industries achieved its best-ever results, generating revenues of $6.4 million, a significant increase of 54% year-on-year. The company also reported a growing YouTube subscriber base of 85.5 million and YouTube views reaching 48.3 billion, reflecting a substantial 132% increase compared to the previous year. With Nair’s appointment, Tips Industries aims to capitalize on its strong music content and acquisition capabilities to further navigate India’s digital landscape and maximize shareholder returns.