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Category: MAM

  • Top five global influencer marketing agencies

    Top five global influencer marketing agencies

    Mumbai: Influencer marketing has emerged as a potent force, capable of connecting brands with their target audience in unique and compelling ways. To ensure your influencer campaigns stand out and deliver remarkable results, it is crucial to partner with industry-leading influencer marketing agencies. Here, we present the top five global influencer marketing agencies that are spearheading innovation and setting the industry’s gold standard.

    1. Mad Influence – where the magic of influence comes alive!

    Mad Influence is a global 360-degree influencer marketing agency with a captivating network of talented influencers, content creators, and remarkable brands from India and around the globe. Mad Influence has there offices in Delhi, Mumbai, and Dubai. They offer end-to-end campaign management, strategic content planning, expert media buying, and top-notch production services. With a stellar track record of over 5,000 triumphant campaigns, they’ve worked with industry-leading brands from various sectors like FMCG, entertainment, and automobiles to name a few. Their creative prowess extends to extraordinary partnerships with renowned production houses and music labels. Moreover, their creative expertise extends to exceptional collaborations with renowned Bollywood production houses and music labels as well.

    2. NeoReach  – data-driven excellence

    NeoReach, headquartered in Orlando, is a full-service digital influencer agency with offices in Los Angeles, San Francisco, and Austin. They excel at influencer sourcing, performance reporting, and everything in between. NeoReach uses data-driven insights, including competitor audits and audience demographics matching, to craft launch strategies on major social platforms. They handle all stages of influencer marketing, from introduction and contract negotiation to deployment and payments.

    3. Viral Nation – influence amplified

    Based in Toronto with offices in Kitchener and Christ Church, Viral Nation is a global influencer marketing agency and a talent agency for influencers. They work with influencers on platforms like Facebook, Instagram, and Snapchat while representing and securing endorsements for top influencers. Viral Nation offers full social media representation for influencers, helping them work with brands and ensuring proper compensation.

    4. Kairos Media – standing out authentically

    Kairos Media, headquartered in London with offices in Manchester and New York, is a social-first creative agency that targets Millennial and Gen Z consumers globally. They use a 360-degree approach, combining data and creativity to deliver over five times the success of traditional media buying. Working with 75,000 influencers across 55 countries and 20 languages, Kairos Media has partnered with major brands like Facebook, Kelloggs, and Samsung.

    5. HypeFactory – AI-powered influence

    HypeFactory is a global influencer marketing agency with an impressive presence in multiple countries like Cyprus, Serbia, Thailand, Indonesia, Spain, Australia, Hungary, Lithuania, Poland, Israel, Finland, Armenia, China, South Korea, the Philippines, and the United States. They operate at the intersection of technology and creativity, utilizing their HypeAuditor tool and advanced AI technologies to select the best influencers for your campaigns. HypeFactory uses comprehensive and accurate data to identify the most suitable influencers, measure audience quality, and predict campaign outcomes before they even start.

    In the world of influencer marketing, these top agencies are setting the bar high with their unique approaches, data-driven strategies, and impressive global reach. Choose the agency that aligns best with your brand’s goals and watch your influencer campaigns soar to new heights.

  • Goldmedal celebrates the spirit of Diwali with a new Ad campaign ‘Ghar Ghar Lagta Hai’

    Goldmedal celebrates the spirit of Diwali with a new Ad campaign ‘Ghar Ghar Lagta Hai’

    Mumbai: Goldmedal Electricals, one of India’s leading electrical manufacturing companies, has released a new digital video ad campaign in time for Diwali. The campaign showcases several of Goldmedal’s products, including doorbells, LED lighting and home automation solutions, against the backdrop of friends and family visiting a home during the festival of lights – with the voiceover highlighting the core message that it is the joy that loved ones bring with their presence that truly makes a “home feel like a home” (‘Ghar Ghar Lagta Hai’).

    Conceptualized by FoxyMoron, the campaign is a heart-warming reflection on the important role that friends and family play in making joyous occasions feel complete, while also depicting how Goldmedal’s products elevate your festive experience.

    Commenting on the new campaign, Goldmedal Electricals director Kishan Jain said, “Festivals are a time to enjoy the company of loved ones within the warmth of our homes. Goldmedal’s products, including our LED lighting, doorbells and home automation solutions, enhance the aesthetics and comfort of your spaces and offer a convenient, hassle-free experience amidst the bustle of the festive season. At the same time, we wanted to highlight, through this ad campaign, that what truly makes our home feel complete during these joyous moments, is the presence of our friends and family.”

    Speaking about the campaign, FoxyMoron business director Shubit Rakshit said, “Zoo Media Network is delighted to partner with Goldmedal to introduce the ‘Ghar Ghar Lagta Hai’ campaign—a compelling illustration of synergized endeavours. FoxyMoron as the lead agency, and The Rabbit Hole as the specialist Video Marketing agency in our network, collaborated to actualize this vision. The campaign’s integrated creative strategy and lifestyle-centric narrative were meticulously crafted to resonate emotionally with consumers, effectively spotlighting Goldmedal’s diverse portfolio. Our objective was to forge a narrative that transcends a singular event, evolving into a scalable initiative seamlessly integrated across the brand and its complete product spectrum.”

     

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     

    A post shared by Goldmedal (@goldmedalindia)

     

  • How brands are tailoring digital advertising budgets to align with evolving festive season consumer behavior

    How brands are tailoring digital advertising budgets to align with evolving festive season consumer behavior

    Mumbai: ‘Tis the season of giving and merriment, a time when consumers open their hearts and wallets to celebrate and show their affection through thoughtful gifts. For brands, the festive season is not just a time of joy but also a golden opportunity to connect with their target audience and elevate sales to new heights. However, as we navigate the ever-evolving landscape of the festive season, it becomes imperative to adjust our sails to the changing winds of consumer behavior and preferences.

    In the enchanting world of festive commerce, understanding the metamorphosis is paramount. Let’s embark on a journey to decipher the tapestry of shifting trends:

    1. The Ascent of E-commerce: The digital realm is the stage where the festive drama unfolds. E-commerce is the star of this show, shining ever more brightly with each passing season. Consumers are increasingly opting for the convenience of online shopping when it comes to festive gifts. Therefore, brands must allot a considerable portion of their digital advertising budget to e-commerce channels, making their presence known in the virtual marketplace.

    2. Mobile’s Reign: In this age of rapid mobility, the preferred device for many consumers, especially for shopping, is the trusty mobile phone. Brands should ensure that their digital advertisements are not just mobile-friendly but optimized for a seamless experience on these devices, where customers frequently hunt for the perfect gift.

    3. The Allure of Social Commerce: A fascinating development in recent times is the fusion of social media and commerce – a phenomenon aptly termed “social commerce.” Here, you have the power to buy and sell directly on your favorite social media platforms. Brands can exploit this trend to reach consumers where they naturally congregate and spend their time. Collaborating with social media influencers can also breathe life into your product and service promotions.

    4. The Art of Personalization: As consumers become more discerning, they now anticipate a shopping experience tailored to their individual tastes and preferences. Brands must seize the opportunity to captivate their audience through the marvel of personalization. Harnessing data and analytics, digital ads can be crafted to target the right consumers, enhancing the likelihood of a conversion.

    With a comprehensive grasp of the shifting festive landscape, brands are now poised to sculpt their digital advertising budgets with finesse. Here’s a treasure chest of strategies to guide your way:

    1. Prioritize E-commerce: As the e-commerce tide continues to surge, it is paramount to allocate a substantial portion of your advertising budget to e-commerce channels. Ensure that your digital advertisements shimmer brightly in the vast sea of online shopping.

    2. Invest in Mobile Advertising: As the digital frontier becomes increasingly mobile-centric, a wise brand will invest in mobile advertising. Your ads should not just be mobile-friendly but optimized for these devices, ensuring a seamless and captivating shopping experience for consumers on the move.

    3. Ride the Wave of Social Commerce: You must harness the magic of social commerce, where your products and services can find their audience amidst the buzz of social media. Collaborating with social media influencers can be the key to unlocking the hearts of potential customers as you showcase your festive offerings.

    4. Weave the Tapestry of Personalization: In a world where every consumer is unique, personalization is the thread that binds them to your brand. Use the power of data and analytics to craft digital ads that resonate with individual preferences, ensuring that your message speaks directly to their hearts.

    In this fast-paced digital world, the key to success lies in your ability to adapt and cater to the ever-changing needs of your audience. The festive season is a grand stage where brands can dazzle and delight, but only if they are willing to embrace the evolving landscape. So, as the bells of festivity ring, take a moment to not just understand the transformation but to be the change, to be the brand that captures the spirit of the season and resonates with the hearts of consumers. Tailor your digital advertising budget with finesse, and let your message shine brightly amidst the festivities.

    The author of this article is Digidarts founder and CEO Siddhartha Vanvani.

  • Senco Gold & Diamonds introduces AI-powered Diwali prayer initiative for Lakshmi devotees

    Senco Gold & Diamonds introduces AI-powered Diwali prayer initiative for Lakshmi devotees

    Mumbai: Senco Gold & Diamonds, India’s leading jewellery retailer having a legacy of over 80 years and with a national footprint of over 150 showrooms, announced the launch of a pioneering AI-powered initiative for Diwali 2023 in partnership with Mindshare India and the cutting-edge voice AI firm, HiVoco Content Tech Studios.

    As part of this ground-breaking initiative, participants have the opportunity to receive a personalised prayer video seeking divine blessings from Goddess Lakshmi for prosperity during Diwali. And keeping with the tradition of purchasing gold during the auspicious days of Dhanteras and Diwali, there is also an opportunity to win a coveted Gold Coin from Senco Gold & Diamonds for people who are participating.

    To participate, one simply needs to register on the website sencocelebrations.com by providing their name and email address. Upon completing the registration, the personalised prayer video by Acharya Shastri of Laxminarayan Mandir, Delhi shall be delivered to the participant’s email.

    Senco Gold & Diamonds MD and CEO Suvankar Sen said, “Senco Gold & Diamonds is at the forefront of marrying tradition with technology. We’re taking a significant leap this festive season to connect with our audience by personalizing their experience with innovative AI solutions.”

    Celebrating the traditional act of prayer and offering during Diwali, users receive personalised prayers for Goddess Lakshmi through synthetic voice videos crafted using their names and personalized Golden Cards are created for each participant as well.

    HiVoco CEO Pritesh Chothani highlighted the transformative power of AI in marketing, stating, “Generative AI is revolutionizing how brands like Senco Gold & Diamonds interact with customers. Our collaboration for this Diwali campaign epitomizes how AI can cater to the individual at scale, making meaningful moments of engagement.

    This innovative campaign not only underscores Senco Gold & Diamonds’ commitment to innovation but also showcases the immense potential of generative AI in revolutionizing customer-brand interactions. It stands as a testament to how modern technology can be harnessed to provide a personalized touch to festive traditions.”

  • It’s time for mobile marketers to strategically make the most of the peak shopping fiesta this holiday season

    It’s time for mobile marketers to strategically make the most of the peak shopping fiesta this holiday season

    Mumbai: The holiday season, filled with festivals and shopping bonanzas, provides an unmissable opportunity for marketers to amplify their brand presence and boost sales. With the proliferation of mobile usage, marketers are increasingly leaning towards mobile platforms to launch their campaigns and promotions. Mobile marketers can harness the potential of the holiday shopping season by engaging with customers during major events and holidays which will soon kickstart with Diwali and go all the way till Christmas.

    At the onset, it is important for marketers to get a thorough understanding on the current status of the peak shopping season.

    We can already see a spike in consumer spending, a phenomenon which will further accelerate as we get closer to the festival of lights, Diwali culminating in Christmas, making it an opportune moment for mobile marketers to initiate campaigns that reverberate with the festive spirit..

    In 2022, Diwali witnessed a remarkable 60% of all online sales transacted via mobile
    platforms, with projections escalating this figure to 70% this year. 3 of the top 10 downloaded apps during Diwali last year were shopping apps, with shopping apps installs and sessions close to 50% and 15% higher respectively, as compared to the 2022 average. Noticeably, weekdays accounted for 48% and 60% of installs and sessions respectively. It was observed that most shopping app installs and sessions occurred four weeks after Diwali,

    It has become imperative for brands to ensure that a mobile user’s journey is seamless, intuitive, and festively engaging to capitalize on the colossal waves of the holiday shopping season.

    Collaborating with Mobile OEMs and Alternative App Stores is the way to go and here’s why.

    Offer Exclusive Deals

    Collaborate with mobile Original Equipment Manufacturers (OEMs) such as Xiaomi, Huawei, OPPO, Vivo, OnePlus, realme, Itel, Tecno and Infinix to offer exclusive deals and promotions on their platforms. Special app bundles, exclusive in-app purchases, or early access to sales for specific device users can amplify customer acquisition.

    App Store Optimization (ASO)

    Optimize app listings on alternative app stores by focusing on keywords and descriptions that align with holiday shopping trends. An effective ASO strategy, complemented by compelling visuals and app store featuring, can enhance app visibility and downloads.

    App Store Featuring

    Brands can get their app featured on the alternative app stores through special mobile OEM collaborations. This could be a banner featuring their app on the main page, their app appearing as a recommended or featured app, or even as a special feature of their app as part of the holiday or sale season.

    Develop Co-branded Campaigns

    Engage in co-branded campaigns with OEMs to harness their user base. Crafting campaigns that intertwine abrand’s offerings with the OEM’s products can create a mutually beneficial marketing dynamic.

    Equally important is to put in place a solid set of strategies to Optimize Mobile Marketing during the peak shopping season

    Develop Engaging App Content and Interfaces

    Develop an app that resonates with the festive mood by incorporating thematic designs, user-friendly interfaces, and festive content. Tailoring app experiences to the specificities of each holiday (e.g., incorporating Diwali-themed visuals or Christmas-inspired interfaces) can augment user engagement.

    Leverage Personalized Push Notifications

    Deploy personalized push notifications that align with the holiday theme. Messages highlighting limited-time offers, exclusive discounts, or special holiday bundles can induce urgency among consumers and drive app engagements and purchases.

    Implement Geotargeting Strategies

    Employ geotargeting to send location-specific offers and promotions. This strategy is particularly crucial during Diwali, where regional variations in celebrations might necessitate tailored marketing approaches.

    Utilizing Data-Driven Insights

    Leverage data analytics to comprehend user behavior and purchasing patterns. Insights derived from user data can inform marketing strategies, enabling marketers to craft campaigns that are resonant and effective. This is where a trusted partner working with mobile OEMs is crucial.

    Mobile OEMs are the Way Forward

    The amalgamation of strategic mobile marketing initiatives, collaborations with mobile OEMs, and a keen understanding of the holiday shopping seasons can create a mélange that propels brand visibility and user engagement. By combining the festive spirit with robust mobile marketing strategies, brands can etch memorable imprints on consumers, not just during the holiday season but beyond.

    Mobile marketers, while embedding their strategies within the cultural and emotional contexts of Diwali, and Christmas, should underscore values of joy, togetherness, and generosity, ultimately forging deeper connections with consumers and navigating them towards meaningful engagements and conversions.

    The author of this article is AVOW co-founder & CRO Ashwin Shekhar

  • This Deepawali, Vi invites Mumbaikars to brighten up the lives of the underprivileged

    This Deepawali, Vi invites Mumbaikars to brighten up the lives of the underprivileged

    Mumbai: Deepawali, the Festival of Lights is associated with brightness, beauty and bounty. It is a time for families, friends and communities to come together and rejoice in the festive spirit. As Maximum City – Mumbai, gets bedecked for the occasion, India’s leading telecom operator Vi is embracing the spirit of inclusivity with a special initiative to spread cheer amongst the less privileged.

    Vi’s recent campaign, Be Someone’s We showcases that even a small gesture is enough to make someone feel less left out, less lonely and cared for. Infusing the joy of giving during this festive period, Vi’s Deepawali initiative urges Mumbaikars to gift clothes, toys and books that can help bring joy and smiles to those who do not have the privilege of receiving Deepawali gifts.

    Starting 8 November, select Vi stores in Mumbai will accept contributions of gently used or new clothes, toys and books. For the convenience of those who might be travelling or caught up with festive chores, Vi stores in Mumbai will continue to accept such contributions till 17 November. Vi has partnered with local NGOs in Mumbai who will undertake the task of distributing these items to the needy in their locations.  

    Extending his Deepawali greetings to the residents of Mumbai, Vodafone Idea cluster business head – Mumbai Sumit Agarwal said, “Mumbaikars celebrate all festivals with fervor and enthusiasm and Deepawali is the biggest annual festival. This Deepawali, we are following the cadence of Vi’s campaign, Be Someone’s We. In the midst of this auspicious time of sharing, caring and giving, Vi is requesting citizens to be thankful for their good fortune and do their bit for the less privileged, bring a little joy to their lives. Together, we can ensure that everyone has a truly Happy Deepawali and no one feels left out or lonely”.  

    In the true spirit of the city that embraces all who come here and enables them to thrive, Vi requests Mumbaikars to open their hearts and participate in the Be Someone’s We Deepawali initiative, in large numbers.

    Be Someone’s We reflects the collective effort to extend the joy and warmth of Deepawali to those who may be deprived of it due to various circumstances. It underscores the commitment of Vi to share the spirit of togetherness and inclusivity with all members of society. Vi wishes everyone a safe and happy Deepawali! 

  • Ex-Times Internet influencer lead’s Social Aviator ready for takeoff

    Ex-Times Internet influencer lead’s Social Aviator ready for takeoff

    Mumbai: Influencer marketing has bloomed into a key advertising strategy across the world. In India alone, the influencer marketing industry in India was valued at over Rs 12 billion in 2022. Most brands have a dedicated Influencer marketing budget set out. But do they know how to utilize it? This was the question that led Stefan Martyres to set up his new business venture – Social Aviator. After his impressive 8+ year stint at Times Internet, where he built the entire Influencer Marketing team from scratch and successfully delivered several innovative campaigns for leading brands, Martyres aims to take his journey in the world of advertising and marketing to the next level.

    With 13 years of experience in the field of Sports, Media & Entertainment, Martyres stepped into his entrepreneurial journey which is focused on offering strategic solutions that not only cater to the brand’s needs but also deliver influencer fits that align with the brand ethos, messaging and target audience.

    Martyres has spent over a decade honing his skills and making a profound impact on the way brands engage with their audiences. His exceptional career journey, which includes pivotal roles in key organizations like Times Internet, Star Sports, Celebrity Cricket League (CCL), amongst others.

    Talking about his new venture, Martyres said, “Advertising is all about connecting with people on a profound level and inspiring them. With Social Aviator, we are focusing on creating custom solutions that make the most of all the tools that are currently available for advertisers, and creating an optimized and tailored solution. My experience in Influencer Marketing has helped me get a core understanding of the power of the right form of content and this is the skill that we aim to capitalize on. The content-led solutions we offer will not just focus on promoting a brand but also building an emotional connection by giving it a personalized and organic touch.”

    Martyres’ new venture promises to push the boundaries of brand marketing by harnessing the power of influencers, optimising the use of AI in marketing, and pushing the boundaries of possibilities with brand collaborations. With a team of seasoned professionals and a client-centric approach, the company aims to deliver tailor-made advertising solutions that resonate with audiences, drive brand loyalty, and generate measurable results. In addition to this, Martyres is also focused on providing a plethora of additional services that make the delivery of brand solutions more streamlined. With the launch of a custom Social Aviator Studios, the brand aims to also push the boundaries of content creation by making the end to end solution seamless.

    Talking about the timing of this venture, Martyres said, “In the recent times, consumers have become more conscious and aware about not just the products they buy but the communication that these brands have online. It is therefore crucial to provide solutions that not only connect with the masses but can also convince them to build a longer association with the brand. Social Aviator aims to do just that. We also understand that streamlining brand advertising and providing timely and quality solutions is the key to making an impact. Our supporting services will help us achieve this in the most optimised way.” 

  • Corporate gifting sees a 20 percent year-on-year growth in India, says IGP.com

    Corporate gifting sees a 20 percent year-on-year growth in India, says IGP.com

    Mumbai: The festive season in India carries substantial economic importance, driven by a thriving gifting industry. During festivals such as Diwali, New Year, and Christmas, the gifting industry witnesses substantial growth, consistently contributing to a significant portion of the gifting market. With a pre-pandemic growth rate of 40 percent (2019-20 to 20-21) and a post-pandemic surge of 50 percent (2021-22 to 22-23), IGP, India’s leading online multi-category gifting platform, demonstrates the industry’s resilience and adaptability. Corporate gifting has evolved into an integral component of the business landscape, and the festive season remains a platform for meaningful expressions.

    Corporate gifting currently constitutes more than 10 percent of IGP’s total revenue, steadily growing year by year. A noticeable trend this festive season is the organic shift of D2C customers toward bulk purchases for personal gifting, highlighting the close place gifting holds in our culture. In terms of corporate gifting, major metropolitan areas play a significant role, while Tier 2 cities also show steady growth, which is efficiently served through our internal network of delivery warehouses.

    IGP’s data highlights a consistent year-on-year growth of over 60 percent across various festivals. Gift cards now constitute a notable ten percent of the business, while the corporate gifting segment has excelled with an impressive 20 percent year-on-year expansion, setting new industry benchmarks. Additionally, the personalized gifting sector has exceeded expectations with a remarkable 25 percent year-on-year growth, emphasizing the unique value of personalization.

    While items like home and fashion accessories and food products were popular in 2018-19, the trend has shifted toward curated hampers featuring sweets, chocolates, dry fruits, and health foods in 2022-23.

    City engagement is on the rise, with a surge of 60 percent in orders from the top 50 cities during festivals. Notable cities such as Mumbai, Delhi/NCR, Bangalore, and Hyderabad have shown strong engagement.

    “We all spend a substantial part of our lives at our workplace, so the relationship between employer and employees, or even a company and its clients is very critical. A gift is a way of showing appreciation and goodwill and demonstrating that the relationship really matters. We at IGP are in the business of enriching relationships, and we are pleased that we are able to help our corporate clients foster connections with our wide range of gifts.” said IGP.com CEO and founder Tarun Joshi.

    Sustainable gifting has experienced significant growth, surging from one percent to ten percent over the past five years. Hampers have grown from ten percent to 30 percent, personalized gifting has flourished from ten percent to 20 percent, and our same-day delivery service has skyrocketed from 20 percent to 50 percent.

    In conclusion, the gifting industry in India is a dynamic force that continues to shape the country’s socio-economic landscape. The significant contributions of festivals like Diwali, New Year, and Christmas highlight the vital role of corporate gifting in fostering business relationships and expressing goodwill.

  • Posterscope India executes an innovative campaign for TATA Mutual Fund

    Posterscope India executes an innovative campaign for TATA Mutual Fund

    Mumbai: In its most recent innovative campaign, Posterscope, an OOH (out-of-home) specialist agency from dentsu India, has executed an ambush advertising strategy for TATA Mutual Fund. Drawing inspiration from the ICC Cricket World Cup’s tagline, ‘It takes ONE DAY’, the brand announced ‘ONE DAY’ as the slogan for its new campaign – emphasising the power of investing through SIP to realise one’s financial goals.

    Located next to a massive 120×120 billboard at Bandra ROB (Road Over Bridge) in Mumbai, the campaign cleverly capitalises on ICC’s communication to highlight TATA Mutual Fund’s core messaging of achieving dreams through strategic and dedicated investment. It effectively conveys the brand’s ideology in a manner that resonates with the public, while remaining compliant with legal and ethical standards.

    Speaking on the campaign, Posterscope India MD Imtiyaz Vilatra said, “The execution was possible only because TATA Mutual Fund trusted us. The strategic placement was facilitated by our extensive industry network.”

    TATA Mutual Fund head of marketing Ashish Pawar added, “Our campaign stems from this insight that every individual has that dream of achieving their goals One Day, be it a secured retirement, or funding for their child’s future. In the current context, with One Day cricket being the talk of the town, we knew we had to leverage this opportunity through various mediums, to make people realise the importance of investing today, to get closer to their ‘One Day’. That is where our campaign thought comes in – ‘Karo Apne #OneDayInnings ki shuruwaat, SIP ke saath’. With this campaign, we aim to urge people to take the first step towards investing in TATA Mutul Funds through SIP.”

  • Ad environment muted; growth led by subscribers

    Ad environment muted; growth led by subscribers

    Mumbai: Zee Entertainment (Z IN) posted ad. revenue drop of 3.5 per cent YoY in H1, as demand environment was volatile despite recovery in ad spend. We estimate H2FY24E to report ad spend growth of mere 5-6 per cent YoY, as large portion of spends could be diverted to sports due to the Cricket World Cup (CWC). Subscription revenue was strong due to NTO 3.0, which led to price hikes after three years. Expect growth to be in the range of 7-8 per cent YoY in H2FY24E as well. Overall revenue grew a sharp 20.2 per cent YoY, largely led by performance of Gadar 2, excluding which overall revenue grew mere 5.4 per cent YoY. Zee5 also reported a revenue growth of 59 per cent YoY to Rs 2,652mn, helped by a syndication deal. Z gained viewership share in linear TV too, as its share grew 90bps QoQ to 17.9 per cent, helped by gain in selective regional genres.

    Probability of merger going through high

    Z’s share price performance will largely be led by valuation re-rating, hinged on the merger with Sony. The recent order passed by SAT allows Punit Goenka to remain the CEO of the merged entity, but the SEBI may continue to investigate Punit Goenka. As per our assessment (https://tinyurl.com/2wu5bxc7), the probability of the merger going through is high, with or without Punit Goenka, unless he does not change his stance (maintaining his view that he will give utmost importance to the merger going through for shareholder interest, even if he has to let go of his designation as CEO of the merged entity). Per our legal checks, there is a low likelihood of Sony wanting Goenka to remain as CEO, until the investigation outcome is known; further, the investigation outcome may take 12-15 months and Sony may not wait that long for the merger to be executed. This potentially increases the risk for Z/Sony merger, which may lead to valuations being under check.

    Valuation: Reiterate Buy; TP unchanged at Rs 340

    We reiterate buy with SoTP-TP of Rs 340 (unchanged) after factoring in merger synergies and potential medium-term play backed by the strength of Z and Sony in the TV and OTT businesses. We assume a cash infusion of $1.5bn by Sony and value the merged company broadcasting business at 20x (unchanged) one-year forward P/E and the OTT business at 4.0x one-year forward EV/sales. Our PAT estimate incorporates potential OTT losses.

    The credit for this article goes to Elara Capital Sr VP – research analyst (media, consumer discretionary & internet) Karan Taurani.