Category: Production House

  • BBC Worldwide India: Women team makes fiction push

    BBC Worldwide India: Women team makes fiction push

    MUMBAI: Keeping the viewers glued to their television screens on prime time to cheer for their favourite Jhalak star with each new season of Jhalak Dikhhla Jaa, getting them riled up over the closer- to-home love stories in Dil ko phir Aaj jeene ki Tamanaa hai, taking the nation aback with television’s first ever gay relationship in Kaisi Yeh Yaariaan, and breaking the gender moulds with Girls On Top — BBC Worldwide India has had a very busy year and it doesn’t look like it’s slowing down anytime soon.

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    Girls On Top

     

     

    While it’s been busy signing a joint venture with Sony Pictures Network to launch Sony BBC Earth, producing local productions of BBC Worldwide formats like Aaj Ki Raat Hai Zindagi (Tonight’s the Night) and exploring interesting partnerships in the digital space with its finished content like Doctor Who, Top Gear and Sherlock, the company’s non-production businesses has driven the revenues significantly in the past year.

    “I genuinely feel that we have done so much and have so much more to look forward to this year.  The team’s been kept busy between big and small projects. We haven’t taken any breaks,” expresses BBC Worldwide India SVP and GM Myleeta Aga.

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    Myleeta Aga

     

     

    As head honcho, Aga wears many hats.  She is responsible for creative content development in both the fiction and nonfiction space and for partnerships in the market as well as new business development. She also manages talent and overall growth within the organisation. When asked how she goes about fulfilling these distinct and key roles, she reveals that she is tuned in with everything but isn’t hands-on with each and every activity.

    “I run multiple businesses within BBC Worldwide and I have a large team that I look after. My way of managing is by hiring great people and trusting them to do a good job. I don’t interfere in the day-to-day details. Of course, if you ask me about any specific information on a show that’s in production, or any data on a commercial deal in place, I have an answer – thanks to my team that keeps me up to date. We discuss and consult about everything we do. But you can’t scale if you do everything on your own,” Aga says.

    The production business within BBC Worldwide in India has evolved in the last 12 months –  the amount of fiction content that the organisation has churned out has increased  . “This is the first year that we have had as many productions in fiction as we’ve had in non-fiction,” Aga says proudly and rightly so. Breaking assumptions as a corporate company that ‘only produces good nonfiction content’ and sinking teeth in to the highly competitive fiction market didn’t always come easy for the organisation.

    To not depend just on co-productions and engage in a larger creative playing field within the market, it was necessary to cultivate the skill sets from within the organisation. And that was what Aga did three years ago when she made the decision for BBC Worldwide India to also operate in the fiction space.

    “When we decided to invest in talent in fiction, I knew that it would take us years to change the mind-set in the industry. The industry needed convincing that there really aren’t separate skills needed for fiction and nonfiction. One is ultimately telling a story, whether it is of a reality star or an actor in a soap – the only difference is in the way you execute it.”

    It was a heady risk to take. Fortunately, it is one that has paid off.

    Today Aga proudly treasures the fact that she has an uncompromising team ready to tackle any kind of content across fiction and nonfiction. Interestingly, BBC’s top production executives in India are all women. Yes, you read it right, all women.

    Richa Yamini, creative head for fiction content and production, was the first one to be picked in the fiction category. Her journey with BBC includes shows like Kaisi Yeh Yaariyan and DD’s Dil Ko Aaj Fir Jine Ki Tamanna Hai. “BBC was perceived as a nonfiction company when I joined. We started off with little steps to build awareness for our fiction content. We did a telefilm for Star Plus, followed by some coproduction work with Life Ok and Bindass. Then, we got our first fiction show with MTV. We’ve had a steady flow of productions since then.

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    Richa Yamini

    Yamini works closely with the head of fiction production, Dixitaa Thakar who joined the team almost three and half years ago. With 32 years of production experience under her belt, Thakar is a veteran whose guidance has helped grow the fiction category within the organisation to its current stature. “It was my responsibility to train the existing production team on the specific nuances of producing fiction shows. There was a lot of unlearning and relearning involved in the process.”

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    Dixitaa Thakar

     

     

    The problem, as Yamini and Thakar both point out, lay in the general assumption amongst broadcasters that a corporate organization like BBC Worldwide wouldn’t do good job in fiction. “Shows are not given to production houses, but to individual well known writers, irrespective of the production houses he or she works in partnership with. We are changing this practice.” Yamini explained. 

    The third pillar in BBC Worldwide’s all girl production team is Soniya Kulkarni who heads nonfiction — the company’s stronghold. With a reputation to maintain, Kulkarni naturally works under a lot of pressure to keep up the standards, especially when the nonfiction pie is too thin in any given market. 

    “The healthiest of broadcasters do two hours of nonfiction programing in a week, as compared to thirty hours of fiction. So to get a new show on or to continue a series on is a struggle year on year. While we have been doing Jhalak for nine years now and in spite of its growing popularity, we can’t depend on just one big format for the business. Thanks to the huge catalogue of formats that BBC has, we have been able to introduce some good shows to India, like, Aaj Ki Raat Hai Zindagi, the Tonight’s the Night format from the BBC. But a lot of the bread and butter of nonfiction lies in developing home grown formats in the market, and we are dedicated to that,” Kulkarni elaborates.

    Creative producer Palki Malhotra, who had worked nearly six years under an individual producer, joined BBC Worldwide to help build and grow the fiction chapter. She took the job as it offered her the freedom of working within a start-up, as well as the security of a job, as she puts it. “BBC hasn’t restricted me within the fiction and nonfiction boundaries. While I have worked in a show like Bindass Naach, I am also having fun producing a show like Girls On Top.”

    Given the legacy of brand BBC, the production house may give off the assumption of a corporate work environment, but Aga paints a different picture, while acknowledging the benefits of working for a large organisation. “I prefer not to think of us as a corporation. Our work environment is informal with an open work space, where we share desks and executives don’t lock themselves in cabins.  Yes, we have systems and processes, and we have values that we align ourselves with. All these things empower the team to have a long term vision rather than simply a short term target.”

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    Soniya, Palki and Deepali

    Commercial head Deepali Handa seconds the thought.  “The company puts the brand and its image and relations with the stakeholders first. Something as simple as treating your actors well, not upsetting your stakeholders and respecting our work, may sound common sense, but it’s exactly these tenets that have clients coming back to us over and over again.” Handa asserts that BBC’s policies makes it easier for actors, artists, crews and other contractors to have a conducive working experience with the team.

    BBC Worldwide has also done some fascinating work in the past in branded content Asian Paints Har Ghar Kuch Kehta Hai which aired for the first time on Colors in 2013 followed by a second season in 2014 with Vinay Pathak as the host, was developed by a dedicated team.
    When asked if having a dedicated branded content arm puts her in an advantage to address the emerging requirements of the digital space, Aga answers, “Right now a lot of work on digital does revolve around the branded content category. But ultimately digital is just a platform. An advertiser would prefer to put branded content, a content aggregator would look at straightforward content, while if you partner with a broadcaster, you will look at a catch up service. Each of these OTT players have different requirements and given the fact that we can cater to all of them puts us at an advantage. Eventually people are looking for ideas that work,” Aga explains.

    If all this isn’t enough to keep Aga and her team occupied, BBC Worldwide in India also keeps busy, working with broadcasters to put award-winning and highly rated BBC programmes onto their platforms. For example, Doctor Who on FX has performed incredibly well, as has Sherlock, Orphan Black and Top Gear on AXN. It has also worked with OTT platforms like Hungama and Vuclip to deliver award-winning and highly rated shows like Prey, War and Peace and Doctor Foster.
    So what’s next for the very busy team at BBC Worldwide in India? Well, in addition to their already hectic schedules, they’re also in talks with several other local OTT players to provide original content on the web including nonfiction shows. Many of these will see the light of day, undoubtedly. And when they do, it will be more power to the BBC top team.

  • Could India be the M&E destination by 2020?

    Could India be the M&E destination by 2020?

    MUMBAI:  It’s a good time to be in India for someone in the media and entertainment industry, be it in print, digital or television, especially for the next five years. As per PwC’s Global Entertainment & Media Outlook 2016-20 report, India will be one of only seven countries to achieve double-digit growth. Could India be a major M&E destination by 2020 because of that?

    The industry is set to surpass USD 40,000 million by 2020 growing at a compounded annual growth rate of 10.3 per cent, whereas the global M and E industry will grow at 4.4 per cent in the next five years, from USD 1.7 trillion in 2015 to USD 2.1 trillion in 2020. Assuming this estimate is correct, Indian media and entertainment industry will contribute almost 2 percent to the global revenues by 2020. A number of international players already have presence in India. The PWC report statistic could entice newer players as well encourage the existing players to take India more seriously with come up with some serious expansion investments.

    “Given India’s overall growth in GDP (Gross Domestic Product) and Per Capita Income (PCI), it is not surprising that India is amongst the top 10 markets for growth in the Sector. Although, in India traditional media like newspaper publishing and cinema, has always shown strong growth, we expect that even in terms of absolute total USD spend, it should get into the top 10 in the early part of the next decade. What would be more interesting, however, is how rapidly India would catch up with global trends, where traditional media is finding it hard to remain relevant, and the digital sector is leading the growth trajectory and consequently bringing in continuous disruptions. That will all depend on how quickly the Indian digital/broadband ecosystem matures, and how the Indian players adapt and drive business models in what would be a rapidly changing environment for consumption of data/content fashioned largely by India’s under 35 population,” shared PwC India Partner & Leader – Entertainment & Media Frank D’Souza.

    With all eyes on India’s smartphone blitzkrieg and internet penetration, recently emerged digital businesses banking on the medium’s growth can expect mobile advertising to grow at a rate of 18.5 per cent CAGR as per the PwC forecast.

    “Paid search Internet advertising revenue will rise to USD 492 million by 2020. Online spend on display ads in India has witnessed strong growth in the historic period and revenue has almost tripled since 2011, reaching USD 200mn in 2015,” the report pointed out.

    Keeping in line with what several industry veterans believe, the digital explosion in the country will only augment the television sector, with digital upgrades focused on the cable and satellite industry.

    “India will be one of only seven countries to achieve double-digit growth over the forecast period at an 11.7% CAGR driven by its television advertising revenues.  This will generate revenue of USD 5.54bn in 2020, compared with USD3.19bn in 2015,” the report read.

    The report also pointed out that with no DTT (Digital Terrestrial Television) launch, TV advertising revenue is driven primarily by the subscription sector. “Multichannel TV advertising revenue reached USD 2.91bn in 2015 and will grow at a 12.1 per cent CAGR to generate revenue of USD 5.13bn in 2020,” report highlighted.

    As far as the publishing industry is concerned, global trends of advertising in the magazine, books and newspaper publishing are at near flat or negative growth trajectory. However, there is still much hope in the industry’s Indian counterpart as Indian publishing remains one of the fastest growing in the world. The growth could be credited to the increasing literacy rates, educational needs, and strong desire to consume news and content in local languages, combined with nascent digital/broadband penetration, that would further fuel the growth and keep it relevant over the 2016-20.  In 2015, the overall publishing revenues were at USD 6133 million, an increase of USD 302 million over 2014 as per the report.

    (Source: Highlights of PwC’s Global Entertainment & Media Outlook 2016-20 released on its website) 

  • Could India be the M&E destination by 2020?

    Could India be the M&E destination by 2020?

    MUMBAI:  It’s a good time to be in India for someone in the media and entertainment industry, be it in print, digital or television, especially for the next five years. As per PwC’s Global Entertainment & Media Outlook 2016-20 report, India will be one of only seven countries to achieve double-digit growth. Could India be a major M&E destination by 2020 because of that?

    The industry is set to surpass USD 40,000 million by 2020 growing at a compounded annual growth rate of 10.3 per cent, whereas the global M and E industry will grow at 4.4 per cent in the next five years, from USD 1.7 trillion in 2015 to USD 2.1 trillion in 2020. Assuming this estimate is correct, Indian media and entertainment industry will contribute almost 2 percent to the global revenues by 2020. A number of international players already have presence in India. The PWC report statistic could entice newer players as well encourage the existing players to take India more seriously with come up with some serious expansion investments.

    “Given India’s overall growth in GDP (Gross Domestic Product) and Per Capita Income (PCI), it is not surprising that India is amongst the top 10 markets for growth in the Sector. Although, in India traditional media like newspaper publishing and cinema, has always shown strong growth, we expect that even in terms of absolute total USD spend, it should get into the top 10 in the early part of the next decade. What would be more interesting, however, is how rapidly India would catch up with global trends, where traditional media is finding it hard to remain relevant, and the digital sector is leading the growth trajectory and consequently bringing in continuous disruptions. That will all depend on how quickly the Indian digital/broadband ecosystem matures, and how the Indian players adapt and drive business models in what would be a rapidly changing environment for consumption of data/content fashioned largely by India’s under 35 population,” shared PwC India Partner & Leader – Entertainment & Media Frank D’Souza.

    With all eyes on India’s smartphone blitzkrieg and internet penetration, recently emerged digital businesses banking on the medium’s growth can expect mobile advertising to grow at a rate of 18.5 per cent CAGR as per the PwC forecast.

    “Paid search Internet advertising revenue will rise to USD 492 million by 2020. Online spend on display ads in India has witnessed strong growth in the historic period and revenue has almost tripled since 2011, reaching USD 200mn in 2015,” the report pointed out.

    Keeping in line with what several industry veterans believe, the digital explosion in the country will only augment the television sector, with digital upgrades focused on the cable and satellite industry.

    “India will be one of only seven countries to achieve double-digit growth over the forecast period at an 11.7% CAGR driven by its television advertising revenues.  This will generate revenue of USD 5.54bn in 2020, compared with USD3.19bn in 2015,” the report read.

    The report also pointed out that with no DTT (Digital Terrestrial Television) launch, TV advertising revenue is driven primarily by the subscription sector. “Multichannel TV advertising revenue reached USD 2.91bn in 2015 and will grow at a 12.1 per cent CAGR to generate revenue of USD 5.13bn in 2020,” report highlighted.

    As far as the publishing industry is concerned, global trends of advertising in the magazine, books and newspaper publishing are at near flat or negative growth trajectory. However, there is still much hope in the industry’s Indian counterpart as Indian publishing remains one of the fastest growing in the world. The growth could be credited to the increasing literacy rates, educational needs, and strong desire to consume news and content in local languages, combined with nascent digital/broadband penetration, that would further fuel the growth and keep it relevant over the 2016-20.  In 2015, the overall publishing revenues were at USD 6133 million, an increase of USD 302 million over 2014 as per the report.

    (Source: Highlights of PwC’s Global Entertainment & Media Outlook 2016-20 released on its website) 

  • Prime Focus operating profit up 94 percent

    Prime Focus operating profit up 94 percent

    BENGALURU:  Prime Focus Limited (PFL) reported 93.7 percent growth in operating profit (EBIDTA) for the twelve month period between 1 April 2015 and 31 March 2016 (12M-16) as compared to the corresponding period of the previous year. The company reported EBIDTA for 12M-16 at Rs 329.7 crore (17.3 percent EBIDTA margin of net sales or Total Income from Operations or TIO) as compared to Rs 170.2 crore (13 percent EBIDTA margin of TIO) for 12M-15.

    TIO for 12M-16 increased 45.7 percent to Rs 1,901 crore from Rs 1,304.4 crore in the corresponding 12 month period of the previous year. The company reported a higher loss of Rs 318.5 crore as compared to a loss of Rs 87.2 crore in the previous year.

    Notes:(1) The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR).The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    (2) The company had filed results for a fifteen month period ended June 30, 2014, hence y-o-y comparison is being done between Q3-16 and Q3-15 and q-o-q comparison is between Q3-16 and  Q2-16 (quarter ended 31 December 2015).

    Total Expenditure in 12M-16 increased 38.5 percent to Rs 1,571.3 crore (82.7 percent of TIO) from Rs 1,134.2 crore (87 percent of TIO in 12M-15. Personnel cost that included employee benefits expense and technicians fees in 12M-16 increased 36.1 percent to Rs 415.3 crore (21.8 percent of TIO) from Rs 305.2 crore (23.4 percent of TIO) in the previous corresponding twelve month period.

    Finance cost in 12M-16 increased 65.7 percent to Rs 107.4 crore (5.6 percent of TIO) from Rs 64.8 crore (5 percent of TIO) in 12M-15.

    Let us look at the numbers for Q3-16

    For the quarter ended 31 March 2016 (Q3-16, current quarter), PFL reported 10.7 percent year-over-year (y-o-y) growth in TIO at Rs 465.7 crore as compared to Rs 420.54 crore, but revenue declined by 0.8 percent quarter-over-quarter (q-o-q) from Rs 468.52 crore. EBIDTA in the current quarter at Rs 160.20 crore (34.4 percent EBIDTA margin of TIO)was 52.4 percent higher y-o-y as compared to Rs 105.15 crore (25 percent EBIDTA margin of TIO) and more than doubled (2.24 times) as compared to Rs71.56 crore (15.3 percent EBIDTA margin of TIO.

    The company’s loss in Q3-16 was higher both y-o-y and q-o-q. For Q3-16, PFL reported loss of Rs 80.10 crore, for Q3-15 loss was Rs 20.29 crore and for the immediate trailing quarter it was Rs 11.40 crore.

    For other numbers for Q3-16 and previous quarters, please refer to Figures A and B below.

     

     

  • Prime Focus operating profit up 94 percent

    Prime Focus operating profit up 94 percent

    BENGALURU:  Prime Focus Limited (PFL) reported 93.7 percent growth in operating profit (EBIDTA) for the twelve month period between 1 April 2015 and 31 March 2016 (12M-16) as compared to the corresponding period of the previous year. The company reported EBIDTA for 12M-16 at Rs 329.7 crore (17.3 percent EBIDTA margin of net sales or Total Income from Operations or TIO) as compared to Rs 170.2 crore (13 percent EBIDTA margin of TIO) for 12M-15.

    TIO for 12M-16 increased 45.7 percent to Rs 1,901 crore from Rs 1,304.4 crore in the corresponding 12 month period of the previous year. The company reported a higher loss of Rs 318.5 crore as compared to a loss of Rs 87.2 crore in the previous year.

    Notes:(1) The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR).The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    (2) The company had filed results for a fifteen month period ended June 30, 2014, hence y-o-y comparison is being done between Q3-16 and Q3-15 and q-o-q comparison is between Q3-16 and  Q2-16 (quarter ended 31 December 2015).

    Total Expenditure in 12M-16 increased 38.5 percent to Rs 1,571.3 crore (82.7 percent of TIO) from Rs 1,134.2 crore (87 percent of TIO in 12M-15. Personnel cost that included employee benefits expense and technicians fees in 12M-16 increased 36.1 percent to Rs 415.3 crore (21.8 percent of TIO) from Rs 305.2 crore (23.4 percent of TIO) in the previous corresponding twelve month period.

    Finance cost in 12M-16 increased 65.7 percent to Rs 107.4 crore (5.6 percent of TIO) from Rs 64.8 crore (5 percent of TIO) in 12M-15.

    Let us look at the numbers for Q3-16

    For the quarter ended 31 March 2016 (Q3-16, current quarter), PFL reported 10.7 percent year-over-year (y-o-y) growth in TIO at Rs 465.7 crore as compared to Rs 420.54 crore, but revenue declined by 0.8 percent quarter-over-quarter (q-o-q) from Rs 468.52 crore. EBIDTA in the current quarter at Rs 160.20 crore (34.4 percent EBIDTA margin of TIO)was 52.4 percent higher y-o-y as compared to Rs 105.15 crore (25 percent EBIDTA margin of TIO) and more than doubled (2.24 times) as compared to Rs71.56 crore (15.3 percent EBIDTA margin of TIO.

    The company’s loss in Q3-16 was higher both y-o-y and q-o-q. For Q3-16, PFL reported loss of Rs 80.10 crore, for Q3-15 loss was Rs 20.29 crore and for the immediate trailing quarter it was Rs 11.40 crore.

    For other numbers for Q3-16 and previous quarters, please refer to Figures A and B below.

     

     

  • FY-16: PVR PAT up nine-fold

    FY-16: PVR PAT up nine-fold

    BENGALURU: Indian motion picture exhibition, production and distribution house PVR Limited (PVR) reported more than nine-fold (9.3 times) profit after tax (PAT) for the fiscal ended 31 March 2016 (FY-16, current year, current fiscal) as compared to the previous fiscal FY-15. The company reported PAT of Rs 118.73 crore (6.3 percent margin of consolidated Total Income from Operations or TIO) as compared to PAT of Rs 12.76 crore (0.9 percent PAT margin of TIO). For fiscal FY-14, the company had reported PAT of Rs 50.39 crore (3.7 PAT margin of TIO).

    PVR’s consolidated TIO in the current year increased 26.5 percent to Rs 1,873.54 crore as compared to Rs 1,481.34 crore in FY-15. TIO plus other income in FY-16 increased 27.1 percent to Rs 1,896.99 crore from Rs 1,485.98 crore in FY-15.

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    PVR’s total operating profit including other income (EBIDTA) in FY-16 increased 70.8 percent to Rs 358.09 crore (18.9 percent EBIDTA margin of total income including other income) as compared to Rs 209.67 crore (14.1 percent EBIDTA margin of total income including other income) in the previous year.

    Total Expenditure in FY-16 increased 19.5 percent to Rs 1,664.09 crore (88.8 percent of TIO) as compared to Rs 1,393.11 crore (13.2 percent of TIO) in FY-15. Film Exhibition cost increased 22.4 percent to Rs 418.96 crore (23.4 percent of TIO) in FY-16 from Rs 324.18 crore (23.1 percent of TIO) in FY-15. Employee Benefit Expense (EBE) in the current year increased 29.5 percent to Rs 185.30 crore (9.9 percent of TIO) as compared to Rs 143.04 crore (9.7 percent of TIO).Other expenses in FY-16 increased 30.9 percent to Rs 212.29 crore (11.3 percent of TIO) as compared to Rs 162.21 crore (11 percent of TIO) in the previous fiscal. Food & Beverages and other costs increased 16.3 percent to Rs 124.83 crore (6.7 percent of TIO) from Rs 107.38 crore (7.2 percent of TIO) in FY-15.

    Segment Revenue

    Three segments contribute to PVR’s revenues.

    The largest segment – Movie Exhibition reported 26.3 percent growth in operating revenue in FY-16 at Rs 1,730.09 crore from Rs 1,370.39 crore in the previous year. The segment reported more than double operating profit 2.34 times) of Rs 206.51 crore in the current fiscal as compared to Rs 88.23 crore in the FY-15

    Movie Production and Distribution segment reported 59.1 percent growth in FY-16 at Rs 81.50 crore as compared to Rs 51.23 crore in FY-15. The segment’s operating profit in the current year increased 5.1 percent to Rs 2.88 crore from Rs 2.74 crore in FY-15.

    PVR’s ‘Other’ segment which includes bowling, gaming and restaurant services reported 3.9 percent increase in revenue in FY-16 at Rs 76.85 crore as compared to Rs 73.96 crore in the previous fiscal. The segment reported operating profit of Rs 0.1 crore as compared to an operating loss of Rs 2.80 crore in FY-15.

    The board of directors of PVR have approved a dividend of Rs 2 per equity share of face value of Rs 10 each

  • FY-16: PVR PAT up nine-fold

    FY-16: PVR PAT up nine-fold

    BENGALURU: Indian motion picture exhibition, production and distribution house PVR Limited (PVR) reported more than nine-fold (9.3 times) profit after tax (PAT) for the fiscal ended 31 March 2016 (FY-16, current year, current fiscal) as compared to the previous fiscal FY-15. The company reported PAT of Rs 118.73 crore (6.3 percent margin of consolidated Total Income from Operations or TIO) as compared to PAT of Rs 12.76 crore (0.9 percent PAT margin of TIO). For fiscal FY-14, the company had reported PAT of Rs 50.39 crore (3.7 PAT margin of TIO).

    PVR’s consolidated TIO in the current year increased 26.5 percent to Rs 1,873.54 crore as compared to Rs 1,481.34 crore in FY-15. TIO plus other income in FY-16 increased 27.1 percent to Rs 1,896.99 crore from Rs 1,485.98 crore in FY-15.

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    PVR’s total operating profit including other income (EBIDTA) in FY-16 increased 70.8 percent to Rs 358.09 crore (18.9 percent EBIDTA margin of total income including other income) as compared to Rs 209.67 crore (14.1 percent EBIDTA margin of total income including other income) in the previous year.

    Total Expenditure in FY-16 increased 19.5 percent to Rs 1,664.09 crore (88.8 percent of TIO) as compared to Rs 1,393.11 crore (13.2 percent of TIO) in FY-15. Film Exhibition cost increased 22.4 percent to Rs 418.96 crore (23.4 percent of TIO) in FY-16 from Rs 324.18 crore (23.1 percent of TIO) in FY-15. Employee Benefit Expense (EBE) in the current year increased 29.5 percent to Rs 185.30 crore (9.9 percent of TIO) as compared to Rs 143.04 crore (9.7 percent of TIO).Other expenses in FY-16 increased 30.9 percent to Rs 212.29 crore (11.3 percent of TIO) as compared to Rs 162.21 crore (11 percent of TIO) in the previous fiscal. Food & Beverages and other costs increased 16.3 percent to Rs 124.83 crore (6.7 percent of TIO) from Rs 107.38 crore (7.2 percent of TIO) in FY-15.

    Segment Revenue

    Three segments contribute to PVR’s revenues.

    The largest segment – Movie Exhibition reported 26.3 percent growth in operating revenue in FY-16 at Rs 1,730.09 crore from Rs 1,370.39 crore in the previous year. The segment reported more than double operating profit 2.34 times) of Rs 206.51 crore in the current fiscal as compared to Rs 88.23 crore in the FY-15

    Movie Production and Distribution segment reported 59.1 percent growth in FY-16 at Rs 81.50 crore as compared to Rs 51.23 crore in FY-15. The segment’s operating profit in the current year increased 5.1 percent to Rs 2.88 crore from Rs 2.74 crore in FY-15.

    PVR’s ‘Other’ segment which includes bowling, gaming and restaurant services reported 3.9 percent increase in revenue in FY-16 at Rs 76.85 crore as compared to Rs 73.96 crore in the previous fiscal. The segment reported operating profit of Rs 0.1 crore as compared to an operating loss of Rs 2.80 crore in FY-15.

    The board of directors of PVR have approved a dividend of Rs 2 per equity share of face value of Rs 10 each

  • FY-16: Eros International Media revenue up

    FY-16: Eros International Media revenue up

    BENGALURU: The Sunil Lulla led Eros International Media Limited (Eros) reported 11.4 percent increase in total revenue including other income (TR) for the fiscal ended 31 March 2016 (FY-16, current year, current fiscal) as compared to the previous year. Eros reported TR of Rs 1,603.45 crore in FY-16 as compared to Rs 1,441.03 crore in FY-15.

    The company’s Total Income from Operations (TIO) in the current year increased 11.3 percent to Rs 1,582.58 crore in the previous fiscal. Profit after Tax (PAT) after minority interest in the current year declined 13.5 percent to Rs 214.15 crore (13.4 percent PAT margin of TR) as compared to Rs 247.06 crore (17.1 PAT margin of TR) in the previous year.

    Eros says that revenue for FY-16 saw a significant growth on account of global releases of Bajrangi Bhaijaan, Bajirao Mastani, TanuWeds Manu Returns, Welcome Back, Srimanthudu amongst others across theatrical, overseas and satellite revenues, and overseas releases of Dil Dhadakne Do, Singh is Bling and Gabbar is Back reinforcing the portfolio and film mix strategy

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    Earnings before Interest and Tax in FY-16 declined 6.6 percent to Rs 337.36 crore from Rs 361.19 crore in the previous year.

    The breakup of revenues in FY-16 was: Television and others 30 percent; Theatrical 43.8 percent; Overseas 26.1 percent. The comparative breakup of revenues in FY-15 was: Television and others 31.3 percent; Theatrical 38 percent; Overseas 30.7 percent.

    Total Expenditure in the current year increased 17.2 percent to Rs 1,266.09 crore (80 percent of TIO) from Rs 1,079.84 (76 percent of TIO) in FY-15.

    Direct Costs during FY-16 stood at Rs 1,144.8 crore, including Rs. 617.8 crore of content amortization (Rs 940 crore of direct costs including content amortization of Rs 497.6 crore in FY-15) and overflow accrued to Producers on account of hit films.

    For the period ending March 31, 2016, the company generated free cash flow of Rs 300 crore as compared to negative Rs 50 crore in FY-15. As on 31 March 2016, total receivables stood at Rs. 428.2 crore as compared to Rs. 525.7 crore as on 31 March, 2015.

    Films released in FY-16

    In FY-16, of the 63 films released by Eros, 6 high budget, 16 medium and 41 low budget films were released in as against 6 high budget, 11 medium and 47 low budget movies in FY-15. In FY-16, of the 63 films that were released 33 were Hindi and 30 were Regional films as compared to 64 films during FY-15, which included 45 Hindi and 19 regional films.

    In the quarter ended 31 March 2016 (Q4-16, current quarter) Q4-16, only 6 medium and 6 low budget films were released as against 1 high budget, 4 medium and 17 low budget movies in Q4-15. During the quarter, 12 films were released consisting of 3 Hindi and 5 Tamil/Telugu films and 4 Regional films as compared to 22 films during Q4-15, which included 17 Hindi and 5 Tamil/Telugu films.

    Company speak

    Eros executive vice chairman and managing director Lulla said, “Fiscal 2016 clearly proved to be one of the best year for our films at the Box Office demonstrating the quality and robustness of our content green-lighting strategy, a strong competitive edge for Eros. This is possible as over the years, we have built scale and expertise with the help of an experienced management team which has constantly set new benchmarks in the industry. Continuing this momentum, we had an excellent start to FY17 with Sardaar Gabbar Singh in Telegu, ‘Ki & Ka’ in Hindi and 24 in Tamil delivering splendid performances and together with ‘Housefull 3’ scheduled to open next week, we are looking at a blockbuster first quarter.

    “We have a very exciting film slate for the upcoming quarters, which include films such as ‘Rock On 2’, ‘Dishoom’, ‘Baar Baar Deko’, ‘Shivaay’, Banjo, Singham 3 together with a diversified slate of other regional releases. On the whole, FY 2017 will be seeing an exciting movie repertoire of over 65 content driven Eros films in Hindi and other regional languages, making it the biggest future slate by any studio in India. The slate would also be aided by compelling films from our franchise production arm, Trinity Pictures. To further demonstrate our portfolio and de-risking strategy, I am happy to announce that a substantial part of the above mentioned slate is already pre-sold for satellite rights with the major television networks.”

    “I am happy to report that we ended the year with record revenues of Rs. 16,036 million and healthy profitability. Further, we generated Rs. 3,000 illion free cash flow in FY16 and strengthened our balance sheet by bringing about working capital efficiencies. We are confident that we will continue to maintain
    our market leadership position in the years to come.”

  • FY-16: Eros International Media revenue up

    FY-16: Eros International Media revenue up

    BENGALURU: The Sunil Lulla led Eros International Media Limited (Eros) reported 11.4 percent increase in total revenue including other income (TR) for the fiscal ended 31 March 2016 (FY-16, current year, current fiscal) as compared to the previous year. Eros reported TR of Rs 1,603.45 crore in FY-16 as compared to Rs 1,441.03 crore in FY-15.

    The company’s Total Income from Operations (TIO) in the current year increased 11.3 percent to Rs 1,582.58 crore in the previous fiscal. Profit after Tax (PAT) after minority interest in the current year declined 13.5 percent to Rs 214.15 crore (13.4 percent PAT margin of TR) as compared to Rs 247.06 crore (17.1 PAT margin of TR) in the previous year.

    Eros says that revenue for FY-16 saw a significant growth on account of global releases of Bajrangi Bhaijaan, Bajirao Mastani, TanuWeds Manu Returns, Welcome Back, Srimanthudu amongst others across theatrical, overseas and satellite revenues, and overseas releases of Dil Dhadakne Do, Singh is Bling and Gabbar is Back reinforcing the portfolio and film mix strategy

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    Earnings before Interest and Tax in FY-16 declined 6.6 percent to Rs 337.36 crore from Rs 361.19 crore in the previous year.

    The breakup of revenues in FY-16 was: Television and others 30 percent; Theatrical 43.8 percent; Overseas 26.1 percent. The comparative breakup of revenues in FY-15 was: Television and others 31.3 percent; Theatrical 38 percent; Overseas 30.7 percent.

    Total Expenditure in the current year increased 17.2 percent to Rs 1,266.09 crore (80 percent of TIO) from Rs 1,079.84 (76 percent of TIO) in FY-15.

    Direct Costs during FY-16 stood at Rs 1,144.8 crore, including Rs. 617.8 crore of content amortization (Rs 940 crore of direct costs including content amortization of Rs 497.6 crore in FY-15) and overflow accrued to Producers on account of hit films.

    For the period ending March 31, 2016, the company generated free cash flow of Rs 300 crore as compared to negative Rs 50 crore in FY-15. As on 31 March 2016, total receivables stood at Rs. 428.2 crore as compared to Rs. 525.7 crore as on 31 March, 2015.

    Films released in FY-16

    In FY-16, of the 63 films released by Eros, 6 high budget, 16 medium and 41 low budget films were released in as against 6 high budget, 11 medium and 47 low budget movies in FY-15. In FY-16, of the 63 films that were released 33 were Hindi and 30 were Regional films as compared to 64 films during FY-15, which included 45 Hindi and 19 regional films.

    In the quarter ended 31 March 2016 (Q4-16, current quarter) Q4-16, only 6 medium and 6 low budget films were released as against 1 high budget, 4 medium and 17 low budget movies in Q4-15. During the quarter, 12 films were released consisting of 3 Hindi and 5 Tamil/Telugu films and 4 Regional films as compared to 22 films during Q4-15, which included 17 Hindi and 5 Tamil/Telugu films.

    Company speak

    Eros executive vice chairman and managing director Lulla said, “Fiscal 2016 clearly proved to be one of the best year for our films at the Box Office demonstrating the quality and robustness of our content green-lighting strategy, a strong competitive edge for Eros. This is possible as over the years, we have built scale and expertise with the help of an experienced management team which has constantly set new benchmarks in the industry. Continuing this momentum, we had an excellent start to FY17 with Sardaar Gabbar Singh in Telegu, ‘Ki & Ka’ in Hindi and 24 in Tamil delivering splendid performances and together with ‘Housefull 3’ scheduled to open next week, we are looking at a blockbuster first quarter.

    “We have a very exciting film slate for the upcoming quarters, which include films such as ‘Rock On 2’, ‘Dishoom’, ‘Baar Baar Deko’, ‘Shivaay’, Banjo, Singham 3 together with a diversified slate of other regional releases. On the whole, FY 2017 will be seeing an exciting movie repertoire of over 65 content driven Eros films in Hindi and other regional languages, making it the biggest future slate by any studio in India. The slate would also be aided by compelling films from our franchise production arm, Trinity Pictures. To further demonstrate our portfolio and de-risking strategy, I am happy to announce that a substantial part of the above mentioned slate is already pre-sold for satellite rights with the major television networks.”

    “I am happy to report that we ended the year with record revenues of Rs. 16,036 million and healthy profitability. Further, we generated Rs. 3,000 illion free cash flow in FY16 and strengthened our balance sheet by bringing about working capital efficiencies. We are confident that we will continue to maintain
    our market leadership position in the years to come.”

  • FY-16: Higher tax, lesser films release lowers Balaji Telefims revenue, profit

    FY-16: Higher tax, lesser films release lowers Balaji Telefims revenue, profit

    BENGALURU: Balaji Telefilms Limited (Balaji) reported 15.5 percent decline in consolidated total revenue from operations (TIO) for the year ended 31 March 2016 (FY-16, current year). The company’s consolidated profit after tax (PAT) in the current year declined to less than half as compared to the previous year. Balaji attributes the decline in consolidated TIO to release of just one film in the current fiscal as compared to five in the FY-15. Further, the company had to pay more than a five-fold (5.6 times) increase in income tax in the current year as compared to FY-15.

    Balaji’s reported consolidated TIO in FY-16 at Rs 292.76 crore as compared to Rs 342.65 crore in the previous year. PAT in FY-16 was Rs 2.74 crore (1 percent PAT margin) as compared to Rs 5.63 crore (1.6 percent PAT margin) in FY-15. 

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    EBIDTA in the current year declined 2 percent to Rs 5.95 crore (2 percent EBIDTA margin) as compared to 6.06 crore (1.7 percent EBIDTA)

    For the quarter ended 31 March 2016 (Q4-16, current quarter), Balaji reported 6 percent year-over-year (y-o-y) growth in consolidated TIO at Rs 83.23 crore as compared to Rs 77.81 crore in Q4-15, and a 12 percent quarter-over-quarter (q-o-q) growth from Rs 73.15 crore in Q3-16.

    Revenue for the quarter from commissioned programs (including Nach Baliye) declined to Rs 55.64 crore as compared to Rs 59.51 crore in Q1-15 and Rs 71.27 crore in the immediate trailing quarter. The company says that the decline in revenues for Q4-16 was due to Meri Aashiqui Tum Se Hi, Itna Karo Na Mujhe Pyaar and Pyar Ko Ho Jane Do going off air during the quarter.

    The company created lesser hours of programming in Q4-16 as compared to during the corresponding year ago quarter and during the immediate trailing quarter. Total programming hours in Q1-16 were 247 as compared to 258 in Q1-15 and 294.5 hours in Q3-16. Net realisation per hour in Q4-16 increased to Rs 22.5 lakh as compared to Rs 22 lakh in Q1-15, but declined when compared to Rs 24.2 lakh in Q3-16.

    Balaji reported a net loss of Rs 13.28 crore in the current quarter as compared to PAT of Rs 9.61 crore in Q1-15 and  PAT of Rs 6.64 crore in Q3-16.