Music company giant Tips Music on Friday said that it has signed a global music publishing agreement with music publishing company Sony Music Publishing (SMP) to administer and promote Tips Music’s wide array of songs in international markets. The shares rose nearly 10 percent after the company made this announcement.

The music label aims to boost publishing revenues for Tips Music and take Indian music to international shores with this partnership.

Tips Music owns 3,500 music titles while Sony Music comprises a variety of record labels for every genre of music. Sony Music Group is a global recorded music and publishing company, a subsidiary of Sony Corporation of America.

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Earlier in April, Tips Music had announced that it has embarked into the Tamil market by acquiring the audio rights of Mani Ratnam’s period drama franchise, Ponniyin Selvan: I (PS-1) and Ponniyin Selvan: 2 (PS-2). Prior to this, on April 13, small cap company Tips Industries Board of Directors, in a meeting had announced stock split in 1:10 ratio. In quarter four that ended in December 2022, the company recorded a net profit of ₹52.23 Cr compared to ₹45.38 Cr, in the same quarter last year.

The shares of Tips Industries were trading 6 percent higher at Rs 162.6 per share at around 12:15 pm.