Wynk Limited, a company owned by India’s telecom operator Bharti Airtel, which essentially procures/aggregates content and sells to 'B2B and B2C customers', has reported a turnover of INR 128.5 crores for the financial year ended 31st March, 2017 (FY17), and a profit of Rs 4.1 crores.
This registers a significant jump from INR 49 crores reported by the company in FY16, up by around 2.62 times. Profit for the company increased to INR 4.1 crores, up 2.56 times from INR 1.6 crores in FY16.
Capital expenditure for Wynk Limited declined to INR 11 crore in FY17, from INR 16.2 crore in FY16. The company was incorporated towards the end of FY15, so no figures for FY15 were available. Wynk is popular application that has moved beyond just music, to include Movies and Gaming offering as well.
In its FY17 Annual Report, Airtel has mentioned that:
'Wynk Music now plays close to a billion songs per month.
'Average daily time spent on the app by users has grown by 25% over the previous year.
'Daily streams grew 200% over the last year.
'Wynk crossed 50 million app installs during the year.
It is important to mention that 45% of Wynk users are non Airtel customers, the company had said in March. It had said then that Bollywood music made up for 54% of overall songs plays, English music was 26% and Regional music was the rest.
From the FY16 Annual report:
'Wynk Music crossed 12 million downloads.
'Daily songs played are over 10 million.
'On an average users spend 5.25 hours every month on the app.
It it important to note that Wynk had crossed 25 million downloads back in July 2016.
From the FY15 Annual Report:
'5 million+ app downloads registered on Wynk music in less than six months, with the 5 million mark being hit in February 2015. 100,000 app downloads were just in the first four days of its launch.
