Tips Industries, an entertainment company based in India, 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 over two decades of experience in the music industry. Prior to his role at ByteDance, Nair worked at Sony Music India and led music partnerships and licensing for the South Asia region. Tips Industries, known for releasing music for major Bollywood films, aims to leverage Nair’s expertise to increase revenues and deliver value to its shareholders.
With the appointment of Hari Nair as CEO, Tips Industries looks to strengthen its position in the ever-evolving digital landscape of India’s entertainment industry. Nair’s experience in music distribution and his recent engagement with the ByteDance ecosystem, including the launch of the music streaming service Resso, adds value to Tips Industries’ core teams. The company, founded in 1988 and home to popular Bollywood artists, has a vast music catalog comprising 30,000 songs across various genres and languages. Nair expressed his excitement and gratitude for leading an organization with a quality music catalog and a focused content acquisition strategy.
In its recent quarterly earnings report, Tips Industries achieved its best-ever results, with revenues of 52.6 crore (approximately USD $6.4 million). The company released a total of 259 new songs during the period, including film and non-film tracks. Additionally, Tips Industries reported significant growth in its YouTube subscriber base, reaching 85.5 million, and YouTube views, totaling 48.3 billion. The appointment of Nair as CEO reflects Tips Industries’ determination to maximize shareholder returns and capitalize on its management’s successful track record of profitable growth.