ITV

Category: Film Production

  • Q1-16-Televison, Consumer Products, New Media drive up DreamWorks Animation numbers

    Q1-16-Televison, Consumer Products, New Media drive up DreamWorks Animation numbers

    BENGALURU: DreamWorks Animation SKG Inc., (DWA) reported 14.4 percent year-over-year (y-o-y) growth in revenue for the quarter ended 31 March 2016 (Q-16, current quarter) The company reported revenue of $190.44 million in Q1-16 as compared to $106.17 million in the corresponding year ago quarter. Further, it reported net income attributable to DWA of $13.84 million in the current quarter as compared to a loss of $54.78 million in Q1-15. The growth in revenue was driven by performance in the Television Series and Specials, Consumer Products and New Media segments.

    “I am happy to report another strong quarter of financial results, which I believe reflect continued execution on our strategy of transitioning DreamWorks Animation into a global family entertainment company,” said DWA CEO Jeffrey Katzenberg, “I’m excited to be passing the baton to Comcast, as I know they will continue to build on the foundation we’ve established over the past 22 years.”

    On April 28, 2016 NBCUniversal, a division of Comcast Corporation, announced the acquisition of DreamWorks Animation. The transaction is expected to close by the end of 2016, subject to receipt of regulatory approvals in the U.S. and abroad, as well as the satisfaction of other customary closing conditions. Following the completion of the transaction, DreamWorks Animation CEO and co-founder Jeffrey Katzenberg will become chairman of DreamWorks New Media, which will be comprised of the company’s ownership interests in Awesomeness TV and NOVA.  Katzenberg will also serve as a consultant to NBCUniversal.

    Note: Beginning in the quarter ended 31 March 2016, DWA says that it has changed the method by which intellectual property costs are charged to the Consumer Products segment to provide better comparability to peers and to be similar to the method used in the Television Series and Specials segment while minimizing segment volatility. As a result, the Consumer Products segment no longer bears amortization of capitalized production costs for the use of Film and TV segment intellectual property. Instead, the Consumer Products segment is charged a royalty fee which will compensate the originating segment for the use of intellectual property. There is no change to DWA’s consolidated financials, as DWA’s ultimate revenues and the amortization of capitalized production costs remain unchanged. This methodology impacts segment reporting only. All prior-year period figures have been updated to reflect this new methodology, says the compny.

    Segment numbers
    Feature Films segment

    Feature Films segment’s revenues for Q1-16 declined 26.7 percent to $94.3 million, compared to $128.7 million in Q1-15. Revenues in the  current quarter were favourably impacted by the worldwide pay television distribution of How to Train Your Dragon 2 and Mr. Peabody and Sherman, higher home entertainment sales and recoveries of $6.3 million from previously established home entertainment reserves related to sales through DWA’s former primary theatrical distributor. Segment gross profit for Q1-16 of $26.1 million was 31.5 percent lower compared to $38.1 million in the prior-year period.

    Television Series and Specials segment

    Revenues for Q1-16 from the Television Series and Specials segment more than tripled (3.14 times) to $57.0 million, compared to $18.1 million during the corresponding prior-year period. DWA says that the increase in revenues was attributable to a significantly higher number of episodes delivered under its episodic content licensing arrangements. Segment gross profit in the current quarter increased six-fold to $21.1 million from $3.5 million in Q1-15. The increase was primarily driven by higher revenues and lower marketing expenses, says DWA.

    Consumer Products segment

    Revenues from DWA’s Consumer Products segment increased 50 percent y-o-y in Q1-16 to $21.4 million, compared to $14.3 million in the same period last year. DWA says that the increase was primarily due to revenues earned from location-based entertainment initiatives during the current quarter. Revenue for both the current and prior year quarters also included contributions from merchandise licensing arrangements. Segment gross profit increased 60 percent y-o-y to $15.0 million in the current quarter from $9.4 million in the prior-year period.

    New Media segment

    Revenues from DWA’s New Media segment more than tripled  (3.3 times) in Q1-16 to $15.2 million compared to $4.6 million during Q1-15. This increase was primarily attributable to revenue generated from licensing and distribution of content and to a lesser extent, brand sponsorship and talent management arrangements says DWA. Segment gross profit for Q1-16 also more than tripled (3.1 times) to $6.5 million from $2.1 million in the prior-year period, primarily due to higher revenues.

  • Q3-2016: B.A.G. Films revenue up 12.5%

    Q3-2016: B.A.G. Films revenue up 12.5%

    BENGALURU: B A G Films and Media Limited (BAG Films) reported 12.5 per cent higher quarter-on-quarter (QoQ) revenue (net Total Income from Operations, TIO) for the quarter ended 31 December, 2016 (Q3-2016, current quarter) at Rs 28.07 crore as compared to Rs 24.95 crore. Year-on year (YoY) TIO in the current quarter however declined 8.6 per cent from Rs 30.70 crore.

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

    BAG Films reported Profit after Tax (PAT) for the current quarter at Rs 0.48 crore (1.7 per cent margin) as compared to a loss of Rs 3.66 crore in the immediate trailing quarter and more than double YoY profit as compared to Rs 0.22 crore (0.7 per cent margin) in Q3-2015. EBIDTA in the current quarter at Rs 8.97 crore (31.9 per cent margin) was more than double (2.3 times) the Rs 3.93 crore (15.8 per cent margin) in Q2-2016 and 10.4 per cent more than the Rs 8.12 crore (26.4 per cent margin) in the corresponding prior year quarter.

    BAG Films major segment, Television Broadcasting (TV segment) reported four per cent QoQ growth in segment revenue at Rs 22.53 crore (80.3 per cent of TI) as compared to Rs 21.66 crore (86.8 per cent of TIO), but a 6.5 per cent YoY revenue decline from Rs 24.08 crore (82.8 per cent of TIO).

    BAG Films TV segment reported 45.9 per cent QoQ growth in operating profit at Rs 7.40 crore as compared to Rs 5.07 crore, but a 20.5 per cent YoY drop in operating profit as compared to the Rs 59.30 crore.

    Its other major segment, FM Radio (Radio Dhamaal) reported 1.8 per cent QoQ drop in operating revenue growth at Rs 2.18 crore (7.8 per cent of TIO) as compared to Rs 2.22 crore (8.9 per cent of TIO) and 10 per cent YoY decline in revenue as compared to Rs 2.43 crore (7.9 per cent of TIO).

    Operating profit in Q3-2016 was less than a third (down 68.1 per cent) QoQ at Rs 0.23 crore as compared to Rs 0.73 crore and less than a fourth (down 75.5 per cent) YoY as compared to Rs 0.94 crore in Q2-2015.

    Let us look at the other numbers reported by B. A. G. Films:

    B. A. G. Films total expenditure in the current quarter at Rs 23.12 crore (82.4 per cent of TIO) was 6.1 per cent lower QoQ than Rs 24.62 crore (98.7 per cent of TIO) and was 12.4 per cent lower than the Rs 26.40 crore (98.4 per cent of TIO), but increased four per cent YoY from Rs 23.67 crore (86 per cent of TIO).

    Employee Cost in Q3-2016 at Rs 5.03 crore (17.9 per cent of TIO) was 4.3 per cent higher QoQ than Rs 4.82 crore (19.3 per cent of TIO) and almost flat YoY (increased 0.1 per cent higher) that Rs 5.02 crore (17.1 per cent of TIO).

    Segment Numbers

    The company has mentioned five segments in its financial results. They are Audio-Visual Production (AVP); Movies: Leasing; FM Radio; and Television Broadcasting. While B.A.G. Films Movies segment made no contribution to the company’s revenue or operating results in the current quarter, Q2-2015 or Q2-2016, FM Radio and TV Broadcasting segment numbers have already been mentioned above.

    Audio Visual Production segment (AVP segment)

    AVP segment reported a more than triple (3.3 times) revenue in Q3-2016 at Rs 3.29 crore as compared to Rs 1 crore in Q2-2016, but a 17.6 per cent YoY decline as compared to the Rs 4 crore in Q3-2015. The segment reported an operating profit in Q3-2016 of Rs 1.72 crore as compared to a loss of Rs 0.66 crore in the previous quarter, but a 15.2 per cent YoY decline as compared to an operating profit of Rs 2.03 crore in Q3-2015.

    Leasing segment (The numbers for this segment are mentioned in lakh – 100 lakh = 1 crore)

    BAG Films leasing segment reported revenue of just Rs 6.4 lakh in the current quarter as compared to Rs 6.95 lakh in the previous quarter and Rs 19.8 lakh in Q3-2015. The segment reported an operating loss of Rs 110.23 lakh as compared to an operating loss of Rs 82.63 lakh in Q2-2016 and an operating loss of Rs 83.46 lakh in Q3-2015.

  • Q3-2016: B.A.G. Films revenue up 12.5%

    Q3-2016: B.A.G. Films revenue up 12.5%

    BENGALURU: B A G Films and Media Limited (BAG Films) reported 12.5 per cent higher quarter-on-quarter (QoQ) revenue (net Total Income from Operations, TIO) for the quarter ended 31 December, 2016 (Q3-2016, current quarter) at Rs 28.07 crore as compared to Rs 24.95 crore. Year-on year (YoY) TIO in the current quarter however declined 8.6 per cent from Rs 30.70 crore.

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

    BAG Films reported Profit after Tax (PAT) for the current quarter at Rs 0.48 crore (1.7 per cent margin) as compared to a loss of Rs 3.66 crore in the immediate trailing quarter and more than double YoY profit as compared to Rs 0.22 crore (0.7 per cent margin) in Q3-2015. EBIDTA in the current quarter at Rs 8.97 crore (31.9 per cent margin) was more than double (2.3 times) the Rs 3.93 crore (15.8 per cent margin) in Q2-2016 and 10.4 per cent more than the Rs 8.12 crore (26.4 per cent margin) in the corresponding prior year quarter.

    BAG Films major segment, Television Broadcasting (TV segment) reported four per cent QoQ growth in segment revenue at Rs 22.53 crore (80.3 per cent of TI) as compared to Rs 21.66 crore (86.8 per cent of TIO), but a 6.5 per cent YoY revenue decline from Rs 24.08 crore (82.8 per cent of TIO).

    BAG Films TV segment reported 45.9 per cent QoQ growth in operating profit at Rs 7.40 crore as compared to Rs 5.07 crore, but a 20.5 per cent YoY drop in operating profit as compared to the Rs 59.30 crore.

    Its other major segment, FM Radio (Radio Dhamaal) reported 1.8 per cent QoQ drop in operating revenue growth at Rs 2.18 crore (7.8 per cent of TIO) as compared to Rs 2.22 crore (8.9 per cent of TIO) and 10 per cent YoY decline in revenue as compared to Rs 2.43 crore (7.9 per cent of TIO).

    Operating profit in Q3-2016 was less than a third (down 68.1 per cent) QoQ at Rs 0.23 crore as compared to Rs 0.73 crore and less than a fourth (down 75.5 per cent) YoY as compared to Rs 0.94 crore in Q2-2015.

    Let us look at the other numbers reported by B. A. G. Films:

    B. A. G. Films total expenditure in the current quarter at Rs 23.12 crore (82.4 per cent of TIO) was 6.1 per cent lower QoQ than Rs 24.62 crore (98.7 per cent of TIO) and was 12.4 per cent lower than the Rs 26.40 crore (98.4 per cent of TIO), but increased four per cent YoY from Rs 23.67 crore (86 per cent of TIO).

    Employee Cost in Q3-2016 at Rs 5.03 crore (17.9 per cent of TIO) was 4.3 per cent higher QoQ than Rs 4.82 crore (19.3 per cent of TIO) and almost flat YoY (increased 0.1 per cent higher) that Rs 5.02 crore (17.1 per cent of TIO).

    Segment Numbers

    The company has mentioned five segments in its financial results. They are Audio-Visual Production (AVP); Movies: Leasing; FM Radio; and Television Broadcasting. While B.A.G. Films Movies segment made no contribution to the company’s revenue or operating results in the current quarter, Q2-2015 or Q2-2016, FM Radio and TV Broadcasting segment numbers have already been mentioned above.

    Audio Visual Production segment (AVP segment)

    AVP segment reported a more than triple (3.3 times) revenue in Q3-2016 at Rs 3.29 crore as compared to Rs 1 crore in Q2-2016, but a 17.6 per cent YoY decline as compared to the Rs 4 crore in Q3-2015. The segment reported an operating profit in Q3-2016 of Rs 1.72 crore as compared to a loss of Rs 0.66 crore in the previous quarter, but a 15.2 per cent YoY decline as compared to an operating profit of Rs 2.03 crore in Q3-2015.

    Leasing segment (The numbers for this segment are mentioned in lakh – 100 lakh = 1 crore)

    BAG Films leasing segment reported revenue of just Rs 6.4 lakh in the current quarter as compared to Rs 6.95 lakh in the previous quarter and Rs 19.8 lakh in Q3-2015. The segment reported an operating loss of Rs 110.23 lakh as compared to an operating loss of Rs 82.63 lakh in Q2-2016 and an operating loss of Rs 83.46 lakh in Q3-2015.

  • Reliance Entertainment partners Friday Filmworks for Plan C Studios

    Reliance Entertainment partners Friday Filmworks for Plan C Studios

    MUMBAI: Anil D Ambani owned Reliance Entertainment and  producer duo  Neeraj Pandey and Shital Bhatia’s Friday Filmworks has formed 50:50 joint venture for production of movies called Plan C Studios.

    The combination will benefit from the creative and production strength of Friday Filmworks, and leverage the global marketing and distribution capabilities of Reliance Entertainment.

    Reliance Group group managing director Amitabh Jhunjhunwala said, “We are delighted to partner with creative minds like Neeraj and Shital. This relationship is in line with our continuing strategy in the media and entertainment business, of partnering with like minded and successful individuals, while playing the role of supportive investors on our part.”

    Plan C Studios will kick start with Akshay Kumar starrer, the period drama, Rustom, directed by Tinu Suresh Desai. Other projects include Pandey’s cinematic version of his novel, Ghalib Danger and films helmed by Shivam Nair, Chandra Prakash Dwivedi, Anurag Singh, Anvita Dutt and Shree Narayan Singh.

    Commenting on the partnership, Pandey said, “The partnership with Reliance Group is very significant and welcome, as it enables us to further raise the bar on our continued strategy of developing cutting edge commercial content. We like to keep pushing the envelope, and this partnership will greatly expand our vision.”

    “The alliance with Reliance Group and our continued success at the box office, are a welcome and clear vindication of our focused strategy. Reliance’s significant global and domestic distribution and monetization network, not just perfectly complements our distinct content, but will also ensure highest value creation for all our partners and stakeholders,” added Bhatia.

    Pandey’s first film A Wednesday in 2008 won the National Award. Subsequently, he directed Special 26 in 2013, and Baby in 2015, both widely appreciated and enjoyed huge commercial successes. Pandey is currently on the floors with M S Dhoni – The Untold Story – one of the most anticipated films of the year.

    Reliance Entertainment has produced, distributed and released more than 170 films in multiple Indian languages, including Hindi, Tamil, Telugu, Malayalam, Kannada, Bengali, etc.

    Internationally, Reliance Entertainment has partnered for over the past 7 years with iconic film producer and director, Steven Spielberg, in the formation of DreamWorks Studios and announced the continuation of that relationship with the formation of Amblin Partners in December 2015.

    In India, Reliance Entertainment has recently formed an exciting partnership with Phantom films, a company created by talented directors and producers.

  • Reliance Entertainment partners Friday Filmworks for Plan C Studios

    Reliance Entertainment partners Friday Filmworks for Plan C Studios

    MUMBAI: Anil D Ambani owned Reliance Entertainment and  producer duo  Neeraj Pandey and Shital Bhatia’s Friday Filmworks has formed 50:50 joint venture for production of movies called Plan C Studios.

    The combination will benefit from the creative and production strength of Friday Filmworks, and leverage the global marketing and distribution capabilities of Reliance Entertainment.

    Reliance Group group managing director Amitabh Jhunjhunwala said, “We are delighted to partner with creative minds like Neeraj and Shital. This relationship is in line with our continuing strategy in the media and entertainment business, of partnering with like minded and successful individuals, while playing the role of supportive investors on our part.”

    Plan C Studios will kick start with Akshay Kumar starrer, the period drama, Rustom, directed by Tinu Suresh Desai. Other projects include Pandey’s cinematic version of his novel, Ghalib Danger and films helmed by Shivam Nair, Chandra Prakash Dwivedi, Anurag Singh, Anvita Dutt and Shree Narayan Singh.

    Commenting on the partnership, Pandey said, “The partnership with Reliance Group is very significant and welcome, as it enables us to further raise the bar on our continued strategy of developing cutting edge commercial content. We like to keep pushing the envelope, and this partnership will greatly expand our vision.”

    “The alliance with Reliance Group and our continued success at the box office, are a welcome and clear vindication of our focused strategy. Reliance’s significant global and domestic distribution and monetization network, not just perfectly complements our distinct content, but will also ensure highest value creation for all our partners and stakeholders,” added Bhatia.

    Pandey’s first film A Wednesday in 2008 won the National Award. Subsequently, he directed Special 26 in 2013, and Baby in 2015, both widely appreciated and enjoyed huge commercial successes. Pandey is currently on the floors with M S Dhoni – The Untold Story – one of the most anticipated films of the year.

    Reliance Entertainment has produced, distributed and released more than 170 films in multiple Indian languages, including Hindi, Tamil, Telugu, Malayalam, Kannada, Bengali, etc.

    Internationally, Reliance Entertainment has partnered for over the past 7 years with iconic film producer and director, Steven Spielberg, in the formation of DreamWorks Studios and announced the continuation of that relationship with the formation of Amblin Partners in December 2015.

    In India, Reliance Entertainment has recently formed an exciting partnership with Phantom films, a company created by talented directors and producers.

  • Q3-2015: Dreamworks Animation YoY revenue up 43% at $259.22 million

    Q3-2015: Dreamworks Animation YoY revenue up 43% at $259.22 million

    BENGALURU: DreamWorks Animation SKG Inc. (DWA) reported 43.3 per cent YoY revenue growth in the quarter ended 30 September, 2015 (Q3-2015, current quarter) at $259.22 million as compared to the $180.86 million, which was driven by performance across all operating segments.

     

    For Q3-2015, DWA posted adjusted operating income of $26.8 million. The increase in revenues and segment gross profit was partially offset by an increase in adjusted general and administrative expenses says DWA.

     

    “DreamWorks Animation delivered solid third quarter results, highlighted by strong top-line growth and meaningful segment gross profit across all of our businesses. While we still have considerable work ahead of us, I am proud of the team’s collective efforts and remain confident that we are well positioned to meet or even exceed our stated goals for the year while continuing to drive long term value for our stakeholders,” said DreamWorks Animation CEO Jeffrey Katzenberg.

     

    Segment Revenue

     

    Feature Film segment

     

    Revenues for Q3-2015 from the Feature Film segment increased to $157.9 million, up from $142.4 million in the prior-year period. Segment gross profit decreased to $54.3 million compared to $64.3 million in the same period of last year, primarily due to contributions earned in the prior-year period in the worldwide theatrical market from How To Train Your Dragon 2, which was a higher margin title.

     

    Home contributed feature film segment revenue of $49.7 million in Q3-2015. Home was released in the digital market on 26 June, 2015 and into the physical domestic home entertainment market on 28 July, 2015. The film reached an estimated 4.7 million home entertainment units through the end of the third quarter, net of actual and estimated future returns claims DWA.

     

    The Penguins of Madagascar contributed feature film segment revenue of $39.8 million in the current quarter, primarily from domestic and international pay television. Through the end of the third quarter, the film reached an estimated 3.6 million home entertainment units sold worldwide, net of actual and estimated future returns.

     

    How To Train Your Dragon 2 contributed feature film segment revenue of $7.4 million in the quarter, primarily from international pay television and home entertainment. The film reached an estimated 8.9 million home entertainment units sold worldwide through the end of the third quarter, net of actual and estimated future returns.

     

    Mr. Peabody and Sherman contributed feature film segment revenue of $2.6 million in the quarter, primarily from home entertainment. The film reached an estimated 4.2 million home entertainment units sold worldwide through the end of Q3-2015, net of actual and estimated future returns.

     

    Television Series and Specials segment

     

    Revenues for the quarter ended 30 September, 2015 from the Television Series and Specials segment increased to $50.7 million in Q3-2015, compared to $14.3 million during the prior-year period. The increase in revenues was attributable to a significantly higher number of episodes delivered under DWA’s episodic content licensing arrangements. Segment gross profit increased to $15.3 million in the current quarter, from $2.3 million in Q3-2014. The increase was primarily driven by higher revenues along with favourable amortisation rates associated with episodic series, partially offset by up-front marketing costs associated with the release of DWA’s new television series.

     

    Consumer Products segment

     

    Revenues from the Consumer Products segment increased to $27 million in Q3-2015, compared to $12.1 million in the same period last year. The increase was primarily due to revenues earned from new and extended location based entertainment license arrangements in the quarter, as well as merchandise licensing agreements related to intellectual property rights associated with characters from DWA’s feature films and episodic television series. Revenues also included contributions from merchandising and other licensing activities. Segment gross profit increased to $15.8 million in Q3-2015 from $4.2 million in Q3-2014, as revenues earned from location based entertainment license arrangements have lower associated costs.

     

    New Media Segment

     

    Revenues for Q3-2015 from the company’s New Media segment were $20.7 million compared to $8.5 million during Q3- 2014. This increase was primarily attributable to revenue generated from licensing and distribution of content and brand sponsorship arrangements. In Q3-2014, DWA reported certain advertising and talent management revenues in this segment on a ‘gross’  basis rather than on a ‘net’ basis. For comparative purposes, if the New Media segment’s revenues had been reported on a ‘net’ basis during Q3-2014, revenues for Q3-2015 would reflect an increase of 226 per cent compared with the prior-year period. Segment gross profit, which is not affected by this item, increased to $10.9 million from $2.3 million in the prior-year period, primarily due to higher revenue contributions from licensed content and reduced amortisation of intangible assets.

     

    All other segments

     

    Revenues from All Other segments for Q3-2015 were $2.9 million compared to $3.6 million in the prior-year period and gross profit was $2.4 million compared to a loss of $1.1million in Q3-2014.

  • Q2-2016: B.A.G. FM Radio revenue, operating profit up

    Q2-2016: B.A.G. FM Radio revenue, operating profit up

    BENGALURU: B.A.G. Films and Media Limited (B.A.G. Films) FM Radio segment reported 25.9 per cent YoY operating revenue growth for the quarter ended 30 September, 2015 (Q2-2016, current quarter) at Rs 2.22 crore (8.9 per cent of Total Income from Operations or TIO) as compared to Rs 1.77 crore (5.1 per cent of TIO).

     

    The FM Radio segment’s operating revenue in the current quarter also increased 40.8 per cent QoQ from Rs 1.58 crore (6.1 per cent of TIO). B.A.G. Films’ FM radio network Dhamaal 24 (106.4 FM), which was launched in 2005, operates 10 stations in India.

     

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

     

    The FM Radio segment reported almost threefold (up 2.9 times) operating profit in the current quarter at Rs 0.73 crore as compared to the Rs 0.25 crore in the corresponding year ago quarter. The segment had reported an operating loss of Rs 0.24 crore in the immediate trailing quarter.

     

    B.A.G. Films other major segment, Television Broadcasting (TV segment) reported two per cent YoY growth in segment revenue at Rs 21.66 crore (86.8 per cent of TIO) as compared to the Rs 21.22 crore (64.7 per cent of TIO) and a 4.7 per cent QoQ revenue growth from Rs 20.69 crore (79.7 per cent of Total Income from Operations or TIO).

     

    B.A.G. Films TV segment reported 14.2 per cent YoY drop in operating profit at at Rs 5.07 crore as compared to the Rs 5.91 crore and a 37.3 per cent QoQ drop from Rs 8.08 crore.

     

    B.A.G. Films TIO in the current quarter at Rs 24.94 crore dropped 23.9 per cent YoY as compared to the Rs 32.80 and dropped 3.9 per cent from Rs 25.96 crore in the immediate preceding quarter.

     

    Let’s look at the other numbers reported by B.A.G. Films:

     

    B.A.G. Films reported a higher loss of Rs 3.66 crore in the current quarter as compared to the Rs 2.93 crore in the corresponding year ago quarter and a loss of Rs 1 crore in Q1-2016.

     

    The company’s simple EBIDTA calculated without including other income in the current quarter at Rs 3.93 crore (15.8 per cent margin) declined 9.3 per cent as compared to the Rs 4.34 crore (13.2 per cent margin) in Q2-2015 and was 35.1 per cent lower than the Rs 6.06 crore (23.3 per cent margin) in Q1-2016.

     

    B.A.G. Films’ total expenditure in the current quarter at Rs 24.62 crore (98.7 per cent of TIO) was 23.7 per cent lower than the Rs 32.27 crore (98.4 per cent of TIO), but increased four per cent QoQ from Rs 23.67 crore (91.2 per cent of TIO).

     

    Employee Cost in Q2-2016 at Rs 4.82 crore (19.3 per cent of TIO) increased 1.5 per cent YoY from Rs 4.75 crore (14.5 per cent of IO) and was 1.7 per cent more than Rs 4.74 crore (18.2 per cent of TIO) in Q1-2016.

     

    Segment Numbers

     

    The company has mentioned five segments in its financial results namely: Audio-Visual Production (AVP); Movies: Leasing; FM Radio; and Television Broadcasting. While the movies segment made no contribution to the company’s revenue or operating results in the current quarter, Q2-2015 or Q1-2016, FM Radio and TV Broadcasting segment numbers have already been mentioned above.

     

    Audio Visual Production segment (AVP segment)

     

    AVP segment reported a 78.3 per cent decline in revenue in Q2-2016 at Rs 1 crore as compared to the Rs 4.60 crore in Q2-2015 and 72.2 per cent decline from Rs 3.60 crore in Q1-2016. The segment reported an operating loss of Rs 0.66 crore in the current quarter as compared to an operating profit of Rs 1.98 crore in Q2-2015 and an operating profit of Rs 2.24 crore in Q1-2016.

     

    Leasing segment (The numbers for this segment are mentioned in lakh – 100 lakh = 1 crore)

     

    B.A.G. Films leasing segment reported revenue of just Rs 6.95 lakh in the current quarter as compared to the Rs 15.65 lakh in Q2-2015 and Rs 9.97 lakh in the preceding quarter. The segment reported an operating loss of Rs 82.63 lakh in Q2-2016 as compared to an operating loss of Rs 88.64 lakh in the corresponding year ago quarter and an operating loss of Rs 93.20 lakh in the immediate trailing quarter.

  • Eros Knowledge Partners 17th Jio MAMI Mumbai Film Festival

    Eros Knowledge Partners 17th Jio MAMI Mumbai Film Festival

    MUMBAI:  Eros International Media has teamed up with the 17th Jio MAMI Mumbai Film Festival as knowledge partner to recognise and support new talent.

     

    With this association, Eros International aims to strengthen its content strategy of backing good cinema, identifying and rewarding new talent. Furthermore, as knowledge partner the company will also be awarding the Gold category winners at the festival.

     

    Eros International managing director  Sunil Lulla said, “As Knowledge Partner, we saw a synergy in tying up with a significant film platform like MAMI, which showcases the best of Indian and international cinema. It’s a perfect opportunity to build on our vision of being a leading content company and recognising new talent. It’s been a fantastic year with some great commercial and critically acclaimed successes like NH10, Badlapur, Tanu Weds Manu Returns andBajrangi Bhaijaan and associating with MAMI is a step forward in supporting good cinema.”

     

    The 17th Jio MAMI Mumbai Film Festival director Anupama Chopra added, “We are thrilled to have Eros International as Knowledge Partner. It’s very exciting that a leading studio has joined hands with our film festival to support new talent. I hope that this opens many doors and enables new voices to emerge.”

     

    The opening of the film festival will held on 29 October.

  • Speculative media reports caused Wells Fargo downgrade: Eros

    Speculative media reports caused Wells Fargo downgrade: Eros

    BENGALURU: The Bombay Stock Exchange (BSE) listed Eros International Media lost nearly 20 per cent of its market value on Monday on the back of American multinational banking and financial services holding company Wells Fargo downgrading its parent company Eros International Plc, which is listed on the New York Stock Exchange (NYSE).

     

    Reacting to a notice from the bourses about the downgrade by Wells Fargo, Eros International Media (Eros) held speculative media reports responsible.

     

    Eros said that analysts downgrade or upgrade stocks regularly and ‘as such that is not a cause for much concern’. Also, the company has responded by pointing out in its reply that Wells Fargo did not revise their own earnings estimate for the quarter or the year end and their price target is $22, well above the price the stock was trading the date it was published. Eros claims in its response that another analyst from Macquire-Tim Nollen, published a very positive report and maintained outperform rating with a $25 target, on the same day as the Wells Fargo report that was published on 23 October, 2015.

     

    Eros’ response to the bourses goes onto assure its shareholders that the company’s fundamentals are strong and there have been no material changes in the previous announced fundamentals. “We continue to be market leaders in the Indian film industry with a dominant share in the global Indian box office. Our library of over 2000 films continues to be of a unique competitive advantage, which we monetise in conjunction with our new release slate of 65-70 films comprising Hindi and regional languages each year, across theatrical, television and digital and ancillary distribution platforms which constitute our diversified revenue streams,” the company said.

     

    The company added that its Q1 results have been strong and nothing materially has changed since then, in fact a further string of hits by the company such as Bajrangi Bhaijaan in Q2. Eros’ Q2 results, which are to be announced towards mid-November, will be strong and will be another opportunity for the company to answer further questions regarding all aspects of its operations and finances during that earnings call.

     

    The response to the BSE and the National Stock Exchange (NSE) has been signed by Eros company secretary and compliance officer Dimple Mehta.

     

    At the end of the day’s trade on the BSE, Eros International Media’s stock was down 19.11 per cent to close at Rs 354.40 as compared its Friday close of Rs 438.10. On Monday, the stock opened at Rs 418.80 but saw a drop as word of the Wells Fargo downgrade spread. The stock reached an intra-day low of Rs 351.

     

    On NYSE, shares of the parent company Eros International Plc, which has a market cap of $842.9 million, too have been losing ground over the last one week. As of 23 October, the company’s shares were down 45 per cent to $14.65 in one week on NYSE.

  • DQE to co-produce ‘The Jungle Book’ season 3 with Ellipsanime

    DQE to co-produce ‘The Jungle Book’ season 3 with Ellipsanime

    MUMBAI: DQ Entertainment (DQE) will be co-producing the the third season of The Jungle Book (52 x 11’) CGI series along with France’s Ellipsanime.

     

    The third season will be supported and co-produced by ZDFE, Germany; ZDFTV, Germany and PIWI (Canal+), France. 

     

    The Jungle Book season 3 continues to receive strong support from Telequbec, Canada and other season 2 broadcast partners. The series is expected to be available for broadcast globally by early 2017.

     

    In the third season, Mowgli and his friends will continue their thrilling and sometimes comedic adventures. Characters like Baloo- the Bear, Bagheera – the Panther and others will team up with Mowgli to keep the dangerous and sly Sher Khan at bay.

     

    ZDF head of international co-productions and acquisitions for children’s and youth programming Nicole Keeb said, “It was an easy decision to continue with The Jungle Book. The first two seasons are working so well for ZDF and KiKA that we were basically obliged to go on. And we do this with great pleasure!”

     

    “ZDF Enterprises is proud to be part of the Jungle Book family. Together with children all over the world we are waiting with enthusiasm for further adventures of our favourite characters,” said ZDF Enterprises vice president ZDFE.Junior Arne Lohmann.

     

    Canal + (PIWI) Youth Department head of children’s programs and channels Laurence Blaevoet said, “I’m looking forward to work with DQ and Ellipsanime, on the third season of Jungle Book. The two first seasons are already a huge success on Piwi+.”

     

    Ellipsanime general manager and executive producer  Maia Tubiana added, “We were thrilled when DQE asked us to join in! Ellipsanime and Mediatoon are looking forward to this production journey of fruitful collaboration!”

     

    DQE chairman and CEO Tapaas Chakravarti said, “Jungle Book has done well in most territories across the world and has become one of the favourite shows of kids aged 4-8 years. We are enthused to partner with leading French broadcasters Piwi-Canal + and the recognized French leader in film and TV production, publishing and digital media – Ellipsanime.  ZDF TV and ZDF E continue to support Jungle Book franchise as co-producers for the third season.”