Caravan Indian Film Songs

[Dot Liljenquist]

Caravanwas a superhit domestically in India. It found even greater success abroad in China when it released there in 1979, becoming the highest-grossing foreign film in China. The film is estimated to have sold over 300 million tickets in Asia, mostly in China. Adjusted for inflation, it is still one of the highest grossing Indian films of all time.

The film is about a young woman, Sunita and her father Mohandas, who finds out that his trusted employee, Rajan, has been embezzling money from him. He confronts him but Rajan attacks him, flinging him out of the window of the multi-storye building, but the police think the death was accidental. This leaves the coast clear for Rajan to wed Mohandas' only daughter, Sunita. Sunita is distraught and ends up married to this "wrong" man, Rajan. Shortly after the wedding, Sunita finds out the truth. She thinks that Rajan has conspired with his girlfriend Monica to murder her. So she runs away to find her father's old friend in Bangalore, who may be able to help. On the way, she experiences an accident and ends up with a band of performing gypsies. She meets caravan van-driver Mohan and is attracted to him. Sunita does not know that she has put herself in danger again - this time at the hands of knife-thrower, Nisha, who loves Mohan, and will kill anyone who gets in her way. To make matters worse, Rajan has not given up his search for Sunita.

The film's plot was loosely inspired by the 1953 film Girl on the Run, a little-known crime drama set against the backdrop of a carnival burlesque show, which was changed to a gypsy show in Caravan.[2]

@Vivek_6954 Topline growth is good and inline with festive sales but operating margins have deteriorated so the results are not great. profits YoY are phenomenal but that was on expected lines. How they perform from here on is more important as they will be performing on a higher base. Lets see what the management says in the concall today.

Bit strange that the operator did not hand over the call to the mgmt for final closing comments. He kept saying they would announce new product launches/new initiatives etc. It ended abruptly but the outlook looks great to me. So many avenues to make free cash like music society payments/streaming etc. I am slightly disappointed that their marketing costs continue to remain elevated.

What worries me is that come Q2/Q3, the revenue base effect is going to start kicking in and growth is probably going to stagnate, unless they manage to sell more and more Carvaans. Carvaan accounts for about roughly 2/3rd of the total top line (3 Lakhs unit sold at roughly about Rs.3000 per unit is around Rs.90 crores which is 2/3rds of Rs.150 crores Q3 revenue).

The company might continue to introduce new variants - which is happening now. They are going to introduce Caravaan Go. Now I strongly believe that for a product company to be able to thrive, they have to continuously introduce products to suit various customer tastes. The automobile industry, technology industry are good examples to this. However in all those cases a repeat purchase is warranted. This is a key missing element for me in Carvaan. So in essence this cycle could lead to slowing top line growth and a deteriorating margin profile due to high SKUs.

Growth triggers in the short to mid term are missing and that is going to be a worry. Yoodle films is doing well, but it will take years and plenty of investment before it can effectively fill the Carvaan gap. OTC, YouTube and online streaming hold great potential, but monetisation issues continue to plague the industry as a whole.

He is saying the same thing as he did on ET now. Nothing new except a new product called Caravan Go i.e. a new mobile type device for the younger generation and aggressive plans for films and perhaps OTT series later on.

Carvaan has also got approval from CSD Channel for sale of flagship Carvaan to be sold through army canteen channel .This will have some positive impact on their sales next financial year .

Lots retired defence guys will love to purchase this as it would be available at substantial discount to market price and also this will result into additional revenue stream .Besides payment is secured .

A movie production unit that goes by the name of Yoodlee films. The target is to create content for digital mediums. All the movies to be produced in the budget of 4-5 crores, story is the main hero in the film and not the star cast. 4 movies produced till now and all exclusive rights sold to Netflix for a period of 24-36 months. A couple of others are under various stages of production/post production.

From what I could distill after all the reading, the co. is on path to monetise its existing IP in music and use the cash flow to create new IP to stay relevant in future. The co.'s music assets are rich but addressable only to a certain audience with a certain preference for music. Carvaan was a master stroke in that direction but will lose its relevance beyond a point.

The big question to answer is whether the co. can create and monetise IP on a loop (pun intended) and turn this operation into a virtuous cycle. Newer platforms available for monetisation of IP in present day is a big plus and could put content creators on a different orbit.

As far as films are concerned, the co. has decided to continue till the point losses accumulate to 30 crs and not beyond. The co. is well on track and plans to use funds raised from selling movies to make even more movies. The payback period is 5 years but the co. claims to be doing far better as of now.

For new music IP that the co. is buying, how does the co. plan to recoup the expenditure beyond the initial phase? By initial phase I mean, the time from release of the music before release of the film to 8-12 months after the release of the film, usually the duration for which music of a film stays relevant. How much percentage of total amount can be recouped in this phase?

How does the co. plan to compete in acquiring new music with biggies with fat wallets like T-Series or Zee? What is the typical amount spent on buying music rights of a new film, just for the sake of reference?

As far as films under the Yoodlee banner are concerned, does the co. plan to improve payback or ROI, and how? And does the co. expect better realisations for its movies once the Yoodlee banner is established in the market, given the cost for producing a will remain in the tight range of 4-5 cr per movie?

Spotify is facing a legal battle in the Delhi High Court with Saregama which has sought to restrain Spotify from exploiting and using its songs or doing any act which violates Intellectual Property Rights.

Has any VPer gifted Carvaan to ones relatives n friends n how has been their experience? Will they recommend it as a gifting item? Any scuttelbutt on Carvaan sales at local stores like Croma Vijay sales ?

I do not see these numbers in the presentation. As we know, carvaan is a 25% gross margin product. As advertisement/promotions for carvaan is minimum, good thing is that whatever carvaan sales, generate some PROFITS.

They have been derived and are not in the ppt. Based on the assumption of Rs.5000 revenue per unit of Carvaan. I will update the numbers if I find the actual split of revenues between music streaming and carvaan.

The reason to post this was to question if the 20-25% growth guidance in music streaming revenue is playing out or not. I am not able to understand why there are such major variations QoQ on streaming revenues, as music listenership and subscription should be largely structural. There may be some nuances that I am not aware of, and want to learn.

Look at music segment for FY21, sales are 385cr. Music streaming segment sales are 284 cr. Meaning carvaan sales are 101cr. Add up units sold in FY21 from presentation and that gives unit cost. Its around 3k inr.

Royalty: HMV or Gramaphone done deal in 70s and 80s are with Royalty. From 90s upfront payment, no royalty. From 2000s royalty come back. Royalty payment in India is done to Film producers. Different countries have a different model for royalty. Cannot comment on the global issue of artist are paid less. In India, things are harmonized.

Ad driven business of music apps will be eventually transform to paid economy. In 20% assumption of music licensing business growth forecast, paid economy is not factored, if this happens it will be huge area of growth.

Every platform has different models. Gaana/Spotify/wink etc. every time song plays, company get money. On you Tube, get 55% on advertising money. On Reality shows, it is fixed fees, re negotiated every one or two years. On music app, company get 10 paisa per song. If user is paid subscriber, some money from that. All these with minimum guaranteed.

IPRS is increasing revenues. Personally (Vikram) I am very bullish. Huge potential for higher revenue. For public event, if recorded music is played, need clearance from IPRS and PPL. For live event only on IPRS.

We are no 2 in market. Marketing is very important. Film producers wants to work with company who will promote music very well before movie release. Paying royalties regularly and timely. Entry barriers in music industry is huge due to no. of songs. If you get 5 songs/movie, new players will need 50 to 60 years to be considerable in industry.

It is product where people want to touch and feel. Focus will on controlling cost in marketing and manpower. Product to Platform is ongoing work. Once market open from covid, will educate people about caravan as product.

After licensing first license finish (between 3 to 11 years), movie will return back to company, second round not yet open. First movie will be soon available for second round. Money will be flowed to bottom line, as cost is written.

Gaana/Spotify/wink etc. every time song plays, company get money. On you Tube, get 55% on advertising money. On Reality shows, it is fixed fees, re negotiated every one or two years. On music app, company get 10 paisa per song. If user is paid subscriber, some money from that. All these with minimum guaranteed.

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