Category: Fiction

Bodhitree announces rights issue even as Ashok Ma.Ma hits 100 episodes on Colors Marathi

MUMBAI: Even as its heartwarming family drama Ashok Ma.Ma. notches up 100 episodes on Colors Marathi, producer Bodhitree Multimedia has announced plans to fatten its coffers through a Rs 4,443 lakh rights issue opening next month.

The popular Marathi show, which stars veteran actor Ashok Saraf as a disciplined retiree thrust into guardianship of his three grandchildren after a family tragedy, has captivated audiences with its emotional journey from strict grandfather to doting “Ma.Ma.” (grandpa).

“At Bodhitree Multimedia, we have always believed in telling stories that create impact and build human emotions,” gushed Mautik Tolia, founder and managing director of the production house, seemingly oblivious to the fact that most stories do precisely that.

While celebrating the milestone, Bodhitree is also looking to beef up its balance sheet. The company’s rights issue committee yesterday approved a record date of March 24 for its forthcoming cash call, which will see eligible shareholders offered four new shares for every nine currently held.

The Rs 8 per share offer opens on April 15 and closes on April 28, with the company seeking to issue 55,537,777 fresh equity shares. The move follows board approval last May for a rights issue worth up to Rs 4,500 lakh.

Back on screen, Ashok’s evolution from solitary disciplinarian to loving guardian has struck a chord with Marathi viewers. His initially frosty relationship with headstrong, wealthy Bhairavi (played by Rasika Wakharkar)—who starts as the children’s preferred guardian before unexpectedly becoming his daughter-in-law—provides the emotional heart of the show.

“Ashok is a multifaceted character, with his own set of complexities, emotions and layers,” noted Saraf with the kind of actorly insight that suggests he’s been reading his own press releases. “I feel immense pride in portraying a character who has connected so well with the viewers.”

Whether investors will feel similarly connected to Bodhitree’s forthcoming share offering remains to be seen. The company’s stock currently trades under the ticker BTML on the National Stock Exchange and 543767 on the Bombay Stock Exchange.

March 19, 2025
Banijay group boasts bumper year 2024

MUMBAI: Entertainment powerhouse Banijay group has posted phenomenal financial figures for 2024, with profits perking up considerably in the final quarter. The firm, flying high after a fabulous fiscal year, smashed its own guidance with a whopping 22 per cent growth in adjusted EBITDA.

The titan tallied total revenue of Euro 4,803 million, up a tidy 10.9 per cent, with momentum mounting magnificently in Q4 with a 14.8 per cent surge. Adjusted EBITDA jumped by 21.6 per cent to Euro 900 million, with a particularly powerful performance in the final quarter, rocketing up by 32.8 per cent.

Margins moved up markedly by 160 basis points to 18.7 per cent compared to 2023, while adjusted net income climbed by 29.3 per cent to Euro 418 million. The company’s coffers are considerably healthier, with a cash position of Euro 482 million and leverage ratio trimmed to 2.9x (down 0.2x since December 2023).

Shareholders can smile at a suggested dividend of Euro 0.35 per share, equating to 35 per cent of adjusted net income.

CEO François Riahi remarked that since listing three years ago, Banijay has increased revenue by 37 per cent and adjusted EBITDA by 50 per cent, with streaming content revenues doubling, as has the number of unique active players.

Despite industry headwinds hampering the first half, Banijay’s content production and distribution division delivered revenue of Euro 3,348 million, up by a slim but significant 0.5 per cent. The final quarter finished with flair, showing a 6.7 per cent rise thanks to major scripted show deliveries.

Content production revenue specifically stood at Euro 2,615 million, down 2.8 per cent compared to 2023, but bounced back brilliantly with a 6.2 per cent boost in Q4. Content distribution dipped by 1.5 per cent to Euro 397 million in 2024, but rebounded robustly in Q4 with a 33.2 per cent increase.

“Banijay group enjoyed a record year in 2024,” said Riahi. “Even in a challenging global content prouction market, we continued to see strong demand – especially from streaming platforms – for our iconic brands and deep content catalogue as the number one European studio for scripted content and a world leader in global format launches.”

The streaming success story continued with top-performing titles including Like Water for Chocolate, which ranked first among Spanish-language content on HBO Max, while Supersex, La Vita che Volevi and The Law According to Lidia Poet dominated Netflix’s top four scripted titles in Italy during H1.

Banijay maintains its mantle as the number one studio worldwide for global format launches. Six legacy formats ranked among the top 20 most-traveling TV formats globally, including Deal or No Deal (#2), MasterChef (#4), Big Brother (#6), Survivor (#7), Minute to Win It (#11), and The Money Drop (#14).

The company’s catalogue has expanded enormously, growing by more than 20,000 hours over the year to reach 207,000 hours of content, a 12 per cent increase compared to 2023.

Live experiences & other revenue rose remarkably by 42 per cent to Euro 336 million, driven by robust growth from brand licensing and the full-year contribution of Balich Wonder Studio. Throughout 2024, Balich Wonder Studio produced 119 shows including the opening ceremony of Euro 2024 in Munich and the Uefa Champions League in London. Cultural conquests included the award-winning Viva Vivaldi: The Four Seasons Immersive Concert in Verona and the 400th edition of the Festino di Santa Rosalia, which attracted more than 350,000 spectators.

The Independents impressed with 642 shows including the Vogue Festival in Paris and Spring/Summer 2025 runway shows for luxury labels like Christian Louboutin and Khaite.

Post-year developments include the January 2025 acquisition of Lotchi, a French producer of immersive experiences combining architecture with video-mapping, light and classical music. February saw the launch of Banijay Live Studio, set to create cutting-edge out-of-home entertainment experiences with a “Black Mirror” project already underway.

The online sports betting and gaming division delivered dazzling results, with revenue racing ahead by 45.4 per cent to Euro 1,456 million and an exceptional Q4 performance showing 49.3 per cent growth.

Online sportsbook revenue rose by 48.4 per cent to Euro 1,144 million, while online casino, poker and turf grew by 35.5 per cent to Euro 311 million. The betting business bagged market share across all products and territories, enjoying a 37 per cent increase in unique active players compared to 2023.

The division debuted a fully redesigned sportsbook app and launched a new proprietary poker platform in December 2024. The group strengthened its responsible gaming policy, with 99 per cent of its online sports betting & gaming revenue generated in locally regulated markets in 2024.

Looking forward, Banijay forecasts further fiscal fortunes in 2025:
* Mid-single digit growth for content production, distribution and live experiences
* Mid-teens growth for online sports betting and gaming
* Mid-to-high single digit growth in adjusted EBITDA, despite a Euro 20 million hit from higher betting taxes in France (effective from 1 July 2025)
* Adjusted free cash flow of approximately 80 per cent of adjusted EBITDA

Riahi, announced that several board members, including himself, will be purchasing shares in the company – a vote of confidence in future growth.

“Banijay Group’s value proposition in the entertainment industry is unique,” Riahi concluded. “We have a clear track record of performance, and we aim to expand our free float and stock liquidity so that shareholders can benefit from the value we are creating.”

March 10, 2025
Phenomenal-Ent appoints former Lionsgate India executive as partner

MUMBAI: Phenomenal-Ent has announced the appointment of Mrinalini Khanna as partner, effective February 2025. Khanna brings extensive experience in content development and strategy across television, digital and live entertainment sectors.

Prior to joining Phenomenal-Ent, Khanna served as vice president of originals at Lionsgate India from August 2021 to December 2023. She previously held senior positions at Endemol Shine India for over a decade, including vice president and associate vice president roles, where she spearheaded content strategy and development for various entertainment channels.

Khanna’s career spans multiple facets of the media industry, including a stint as a writer for Miditech, where she contributed to the award-winning children’s programme “Galli Galli Sim Sim”. Her work on the show earned a Gold Plaque at the 44th Chicago Film Festival in the Education for Child Audience category.

Her expertise includes creating original intellectual property, adapting international formats for Indian audiences, and developing content strategies for general entertainment, youth, and specialty channels. She has also worked extensively on brand communication through branded content initiatives.

February 15, 2025
Bodhitree Multimedia reports strong Q3 growth with Rs 50.47 Crore revenue

MUMBAI: Bodhitree Multimedia Ltd (BSE: BTML; NSE: BTML), a leading Indian content creation and media production company, has announced its unaudited financial results for the third quarter ending 31 December 2024.

The company posted a consolidated revenue of Rs 50.47 crore, marking a 19.6 per cent increase from Rs 42.17 crore in the corresponding quarter last year. The consolidated profit before tax (PBT) reached Rs 4.31 crore, up 9.9 per cent from Rs 3.92 crore in Q3 2023, whilst the profit after tax (PAT) grew by 22.2 per cent to Rs 3.03 crore, compared to Rs 2.48 crore in the same period.

On a standalone basis, the company witnessed remarkable growth, with revenue surging 57.7 per cent to Rs 38.50 crore from Rs 24.42 crore in Q3 2023. The standalone PBT nearly doubled to Rs 2.85 crore, showing a 99.3 per cent increase from Rs 1.43 crore. The standalone PAT demonstrated exceptional growth of 139.8 per cent, reaching Rs 1.99 crore compared to Rs 0.83 crore in the previous year’s quarter.

Bodhitree Multimedia chief executive Mautik Tolia, chief executive of Bodhitree Multimedia, attributed the strong performance to the company’s focus on premium content production and strategic partnerships. “Shows like Gunaah have been instrumental in driving our success,” he said, expressing confidence in the company’s growth trajectory.

Founded by Tolia and Sukesh Motwani, Bodhitree Multimedia has produced over 3,000 hours of content across more than 50 shows for major broadcasters and OTT platforms. The company specialises in various genres including drama, thriller, horror, comedy and lifestyle programming, operating primarily on a business-to-business model.

The company’s services span production, direction, writing, dubbing, mixing, subtitling, content editing and localisation for television, films and digital platforms.

February 15, 2025
Balaji Telefilms reports Q3 and nine-month FY25 financial performance

MUMBAI: Balaji Telefilms Ltd has announced its financial results for the third quarter and nine months ended 31 December 2024.

Financial Highlights
* The group reported revenue of Rs 93.2 crore in Q3 FY25, with consolidated nine-month revenue at Rs 386.8 crore.
* EBITDA profit for 9M FY25 stood at Rs 5.3 crore, driven by operational excellence and strategic cost rationalisation, particularly in the digital business (ALT Digital).
* Profit before tax for 9M FY25 was Rs 0.5 crore.
Television Segment
* The TV business remains the company’s core, contributing Rs 194.2 crore in revenue for 9M FY25.
* EBITDA for 9M FY25 was Rs 26.8 crore.
* Balaji had four shows on air during the quarter across major broadcasters, producing 640 hours in 9M FY25, with realisation per hour at Rs 29.14 lakh.
Digital Business (ALT Digital)
* Cost rationalisation efforts improved performance, with ALT Digital’s EBITDA loss narrowing by 18 per cent in Q3 FY25 to Rs 6.9 crore from Rs 8.4 crore in Q2 FY25.
* Subscription revenue stood at Rs 13.32 crore for 9M FY25, with 7.34 lakh subscriptions sold, including 3.93 lakh renewals.
* ALT Digital launched 20 new shows in Q3 FY25, totalling 46 shows in 9M FY25.
* The platform has over 167 shows live, and content consumption reached 17.41 billion minutes with 1.74 billion views.
* ALT is expanding into the AVOD model and has an order book of Rs 343 crore for web series across major OTT platforms.
Film Business
* The Sabarmati Report, released in Q3 FY25, received positive reviews but underperformed at the box office.
* Earlier releases in H1 FY25 included LSD 2 (April 2024) and The Buckingham Murders (September 2024), both later released on Netflix.
* The company has a strong pipeline, with Vrushabha (starring Mohanlal) in post-production and Bhoot Bangla (starring Akshay Kumar, directed by Priyadarshan) in production.
* A new project, Vvan, in collaboration with TVF and starring Sidharth Malhotra, is in development.
Fundraising Initiative
* Balaji Telefilms raised Rs 130.67 crore through an equity issue to promoters and foreign investors.
* A total of 1.78 crore shares were allotted at Rs 73.17 per share, approved by the board on 7 February 2025.
* The funds will be used to scale the movie business, explore music retention and distribution, enhance the digital content business, and strengthen the financial structure.

Group CEO and CFO Sanjay Dwivedi stated, “This successful capital raise underscores the confidence of our promoters and foreign investors in the company’s growth plans. The funding will reinforce our commitment to shareholder value and strengthen our balance sheet.”

Merger Update
* The board approved a draft composite scheme of arrangement on 30 May 2024 for the merger of Balaji Telefilms Ltd, ALT, and MFPL.

* The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) granted no-objection certificates, and the company filed an application with the National Company Law Tribunal (NCLT) on 27 January 2025 for approval.

* The merger aims to consolidate content production, eliminate redundancies, enhance financial capacity, and streamline compliance, leading to improved returns and efficiency.

Managing director Shobha Kapoor stated, “With a strong focus on profitability, operational streamlining, and cost rationalisation, we are confident in our growth trajectory across television, films, and digital platforms.”

February 14, 2025
JioStar taps ad sales powerhouse Anuradha Mathu Agrawal to lead the charge

MUMBAI: When it comes to advertising, the battle for consumer attention is fierce, and JioStar has just enlisted a powerhouse to take the lead. Anuradha Mathu Agrawal has stepped in as head of mid-market entertainment ad sales, armed with decades of experience in media sales and strategic revenue growth. With a career spanning top networks and ever-evolving markets, she is set to redefine JioStar’s ad sales game with fresh strategies and bold moves.

Her appointment follows the exit of Dhruv Dhawan, who previously led digital growth for mid-tier and emerging clients. While Dhawan’s next move remains a mystery, his contributions to JioStar’s digital ad sales strategy were widely recognised.

A career built on media mastery

If the advertising industry had a hall of fame, Agrawal’s name would be etched in gold. She has consistently delivered market-leading ad sales strategies, built robust revenue streams, and established herself as an expert in regional content monetisation.

Agrawal’s media journey kicked off in 1994 with Bennett Coleman and Co. Ltd. (Times of India Group), back when print was still king and social media wasn’t hijacking everyone’s attention span. She later took her talents to India Today in 1998, proving she wasn’t just here to play—she was here to win.

In 1999, she landed at Star India, where she spent nearly a decade making TV advertising a goldmine, selling ad slots that turned daily soaps, cricket matches, and reality TV into revenue machines. After an impressive nine-year run, she moved to Ndtv as senior vice president in 2008, and by 2010, she was fine-tuning brand deals at Turner Broadcasting System as an executive director (Cartoon Network, anyone?).

Then came the plot twist—she co-founded Leomax International in 2012, running the show for nearly three years, striking e-commerce deals with Snapdeal, Fashion&You, and 99labels. Because why just climb the corporate ladder when you can build one yourself?

By 2015, she was back in the corporate saddle as national revenue head at CNN-News18, before making a grand return to Star TV Network in 2016 as senior vice president—later rising to executive director at Disney Star post-merger, where she dominated regional ad sales in Telugu markets and the kids’ portfolio.

The entertainment ad sales landscape is evolving faster than a binge-worthy series, and Agrawal is here to push JioStar to the forefront. With JioStar doubling down on innovation, her expertise will be pivotal in scaling revenue, optimising advertiser engagement, and creating a next-level media ecosystem.

JioStar’s entertainment ad sales division just got a serious boost, and with Agrawal at the helm, the industry is watching closely. Will she revolutionise regional advertising? If history is any indication, the answer is a resounding YES.

January 29, 2025
Keith Le Goy named chairman of Sony Pictures Television

MUMBAI: Sony Pictures Entertainment (SPE) has announced the promotion of Keith Le Goy to chairman of Sony Pictures Television (SPT). In his expanded role, Le Goy will oversee all domestic and international television production, including the game show division and Game Show Network (GSN). He will continue to report directly to Ravi Ahuja, who was appointed president and CEO of SPE earlier this month.

Le Goy previously led the studio’s combined television and home entertainment distribution and marketing divisions, in addition to overseeing SPE’s cable networks in Latin America and Europe. His tenure has been marked by notable achievements, such as securing landmark distribution deals for Seinfeld and major film output agreements with Netflix and Disney in the United States.

Under his leadership, SPE achieved record-breaking global revenue for its digital home entertainment business in 2024, while its anime streaming service Crunchyroll reached 15 million paying subscribers. Le Goy also spearheaded the launch of innovative projects like SPE’s in-car entertainment service, Ridevu, and the Sony Pictures Core app for PS5 and PS4 consoles.

Commenting on the appointment, Ravi Ahuja said: “Keith has a remarkable track record at SPE, excelling in both distribution and the businesses he has led. He is strategic, growth-focused, and an outstanding colleague. I look forward to collaborating with him in this new role.”

Le Goy expressed his enthusiasm for the promotion, stating: “It is a privilege to lead the television group at such a transformative time for the industry. With Ravi’s support and our incredible teams, SPT is well positioned to build on its rich legacy in this dynamic marketplace. I am energised by the opportunities ahead.”

Le Goy joined Sony in 1999 after serving as vice president of sales for Europe at Disney. Throughout his career, he has championed innovative distribution models, emphasised local-language productions in Latin America, and played a key role in expanding SPE’s global footprint.

Sony Pictures Television is behind some of the world’s most popular programmes, including Wheel of Fortune, Jeopardy!, The Boys, Cobra Kai, The Last of Us, Outlander, Shark Tank, 90-Day Fiancé, and Twisted Metal. The division’s diverse portfolio continues to cement its position as a leader in premium entertainment.

January 26, 2025
NBCUniversal restructures leadership to form new television group

MUMBAI: NBCUniversal (NBCU) has announced a significant restructure of its television division, elevating Pearlena Igbokwe and Frances Berwick to lead a newly consolidated television group. This reorganisation integrates NBCU’s television studios, NBC Entertainment, Bravo, and Peacock into a cohesive entity.

Pearlena Igbokwe, previously president of Universal Studio group, has been appointed chairman of television studios, NBC Entertainment, and Peacock scripted content. In her expanded role, she will oversee all aspects of NBC Entertainment, including scripted, unscripted, and live programming, alongside Peacock’s scripted originals. Igbokwe will also continue leading Universal Studio group, which encompasses Universal Television, UCP, Universal International Studios, and Universal Television Alternative Studio.

Frances Berwick, formerly chairman of NBCU Entertainment, has been named chairman of Bravo and Peacock. She will manage first-run syndication and unscripted programming for both networks, which includes documentaries and hit franchises like The Traitors and Love Island.

As part of the restructure, Corie Henson, executive VP of unscripted content for NBCU Entertainment, will leave the company. This decision comes amid a series of changes that follow Comcast’s announcement of its planned spin-off of seven cable channels into a separate publicly traded company, named SpinCo, which will include networks like MSNBC, USA Network, CNBC, Oxygen, E!, SYFY and Golf Channel, in addition to digital assets Fandango, Rotten Tomatoes, GolfNow and SportsEngine.

Additional leadership changes include Liz Jenkins, now overseeing content strategy and business operations across the entertainment and studio groups, and Jenny Storms, who has been promoted to chief marketing officer for NBCU Television & Streaming.

Donna Langley, chairman of NBCU Entertainment & Studios, and Matt Strauss, chairman of NBCU Media Group, expressed confidence in the restructuring, emphasizing the company’s commitment to creativity and innovation in the evolving media landscape.

Mark Lazarus will transition from his role as chairman of NBCU Media Group to become CEO of SpinCo, which is set to launch later this year

January 25, 2025
Nitin & Nitanshi Khare Gupta’s Neelkamal Creations partners with 200 Not Out Films for television shows

MUMBAI: Creative producers and directors Nitin Gupta and Nitanshi Khare Gupta – the two co-founders of Neelkamal Creations – have announced a partnership with 200 Not Out Films to produce innovative and impactful television content. With over 31 years of experience between them as creative heads, director, producers, writers on some of Indian television’s most prominent shows, the Guptas aims to push the boundaries of storytelling in this new venture.

Nitin and Nitanshi shared their enthusiasm about the collaboration on Linkedin, highlighting plans to develop, produce, and deliver fresh, engaging narratives that resonate with audiences globally.

“Our mission is to create exceptional stories that combine creativity and professionalism, setting new benchmarks in television production,” they said.

200 Not Out Films, known for its dynamic approach to filmmaking, has an impressive portfolio of over 150 TVCs and short films. The company has worked with top brands such as Colgate, ICICI Bank, Royal Challenge, and Chevrolet. Its most notable achievement is Sachin – A Billion Dreams, an acclaimed biopic on cricket legend Sachin Tendulkar, directed by award-winning London-based filmmaker James Erskine.

This partnership between Neelkamal Creations and 200 Not Out Films promises to bring a new wave of creativity to the television industry. Gupta encouraged fans to “stay tuned” for updates on upcoming projects, signalling exciting developments ahead for the entertainment landscape.

January 25, 2025
Production house Bodhi Tree Multimedia seeks to raise funds

MUMBAI: The Mautik Tolia-Sukesh Motwani-promoted Bodhi Tree Multimedia has a fund raise on its horizon. On 2 January 2025, the rights issue committee of the company approved the draft letter of offer to raise funds through the issue of equity shares of Rs 1 each. The shares are to be issued to eligible shareholders on a rights basis and the total raise will be within Rs 49 crore. The premium on the Rs 1 share will be decided at a later date.

Bodhi Tree informed the Bombay stock exchange about its intentions on 2 January.

The film and TV production house also said that it would submit the draft letter of offer to the National stock exchange as well as the Bombay stock exchange seeking their in-principle approval for the rights issue.

Bodhi Tree’s production portfolio includes: Class, the Gone Game, Gunaah, Main Hoon Aparjita, Poornima, and The Interns. The company has produced more than 40 shows for 10 broadcasters and platforms in five languages totaling almost 3,000 hours of content.

January 2, 2025