ITV

Category: TV Channels

  • Zeel’s Punit Goenka resigns as MD, to continue as CEO

    Zeel’s Punit Goenka resigns as MD, to continue as CEO

    MUMBAI: He wants to get down to the brass tacks of business., roll up his sleeves and go about achieving the targets the Zee Entertainment Enterprises Ltd (Zeel) board/nomination remunerations committee  has set him and rev up the company’s revenue and profits. Zeel CEO & MD Punit Goenka has resigned from the  post of managing director while retaining his position as CEO. Earlier Punit had sought permission from the Zeel board to resign as MD and continue as CEO which it accepted, effective 18 November.

    The company has also agreed to additionally designate Zeel chief financial officer Mukund Galgali as the deputy CEO. Galgali has been with the Zee group for the past 17 years, but has 27 years of work experience, and will support Punit in driving the company’s strategic initiatives.  As a member of the leadership team, he has been providing strategic consulting advice on business planning and performance, regulatory and ta  implications on business, process innovations and management controls etc. to improve business efficiency and value creation for shareholders.

    The Zeel board has recommended that a deputy chief financial officer be appointed to further strengthen the management team. Further, it is continuing the review of the company’s HR policies, processes and salary structures which were changed during the merger.

    It may be recalled that the Zeel board raised the targets  set for Punit while reappointing him as the MD & CEO. Late last week, the board had also put him under close watch, saying they would be evaluating his performance in terms of quarterly consolidated revenues and EBITDA  over the next four quarters  commencing Q3FY25) and pay out of 25 per cent of consolidated net profits as dividend to  Zeel’s shareholders.

    In a statement issued on Monday, Punit  said that Zeel remains on a firm footing and is taking all the necessary steps to build a robust foundation for its future. “In order to ensure we maintain a sharp focus on achieving our targeted aspirations, the core businesses require dedicated time and energy which can only be achieved in an operational capacity. In the long-term interest of the Company and all its stakeholders, I have approached the board with a request to attain operational focus as the CEO. I am grateful to the board for recognizing my efforts and supporting me in this approach,” he added.

    As part of the changes,  the variable portion (40 per cent) of Punit’s  salary will be paid only on achievement of certain milestones, subject to a maximum cap as defined by the Zeel board.

    Zeel chairman R. Gopalan stated,“The board appreciates the approach taken by Punit Goenka to sharpen his focus towards enhancing the operational aspects of the company as the chief executive officer. His expertise and business acumen remain unmatched, and we remain confident in his abilities to deliver immense value to the company and all its stakeholders in the position he assumes. On behalf of the board, I wish him immense luck and success going forward.”

  • Indian Sports Honours 2024 to air on Star Sports & Disney+ Hotstar

    Indian Sports Honours 2024 to air on Star Sports & Disney+ Hotstar

    Mumbai: The Indian Sports Honours (ISH) returned for its fifth edition. This year’s ceremony will be broadcast on the Star Sports Network & Disney+ Hotstar on 18 November, 2024, at 5PM & 10:30 PM, bringing together India’s finest athletes and sports enthusiasts for a night of recognition and celebration.

    The ceremony will recognise some of the best sporting talents in the country through 10 Jury Honours, four Popular Choice Honours and Lifetime Achievement Honour. Included this year, will also be a new honour for Grassroot Initiatives of the Year, facilitating the organisations that make significant contributions to the development of sports at a grassroot level.

    The jury for this esteemed event featured a distinguished panel of sports icons, led by Abhinav Bindra, a member of the IOC and India’s first individual Olympic medal, as a chairperson. Alongside him was the legendary Indian athlete and President of the IOA, P.T. Usha, former world number one shooter, Anjali Bhagwat, and Disney+ Star head of sports Sanjog Gupta. The jury also included boxing olympic bronze medalist in 2008 Vijender Singh, wrestling bronze medalist in 2012, Yogeshwar Dutt, and former Indian hockey captain and player, Sardar Singh, as they all bring their combined expertise and insight into the selection process.

    Conceptualised by Cornerstone Sport, the Indian Sports Honours ceremony is a remarkable event that brings together top athletes, sports personalities, coaches, celebrated Bollywood icons and influencers, in recognition of the dedication and achievements that define Indian sports today. The event’s highlights include the main event, which showcases the sporting milestones achieved over the past year and moments honouring the inspirational journeys of the nation’s top sports talent.

    The event will be broadcast on the Star Sports Network & Disney+ Hotstar, who promise to bring a spectacular show encompassing Indian sports and the athletes who have dedicated their lives to it. The broadcaster will showcase several high-profile guests the event, including Sania Mirza, Abhinav Bindra, Yashasvi Jaiswal, Kartik Aaryan, Ananya Pandey, Sarabjot Singh, Lakshya Sen, Rani Rampal, Padhmashri Muralikant Petkar, Harmanpreet Singh and Avani Lekhara, amongst others. The main event will be broadcast on 18th November, on the Star Sports Network & Disney+Hotstar.

    Below are the list of honours the audiences can witness from the comfort of their home:
    Jury Honours: Sportsman of the Year (Individual), Sportswoman of the Year (Individual),
    Para-Athlete of the Year (Male), Para-Athlete of the Year (Female), Coach of the Year
    (Male), Coach of the Year (Female), Team of the Year (Male), Team of the Year (Female),
    Sportsman of the Year (Team), and Sportswoman of the Year (Team).

    Popular Choice Honours: Breakthrough Performance of the Year (Male), Breakthrough
    Performance of the Year (Female), Fan Club of the Year, and Club of the Year.

    Other honours: Lifetime Achievement Honour, Grassroot Initiatives of the Year Honour and Star Believe Honour

    Cornerstone Sport CEO Bunty Sajdeh expressed his excitement for the honours, stating, “The fifth edition of the Indian Sports Honours marks another milestone in our mission to celebrate the best of Indian sports. Each athlete has a special story, and it is important to celebrate that with full gusto. This year, we aim to go even further in honouring the achievements of our athletes, whose dedication, resilience, and passion inspire us all. With new categories and our collaboration with Star Sports, we’re thrilled to bring the spirit of Indian sports to viewers across the country.”

  • Shubhra Sethi joins Jiostar as head of entertainment Ad sales strategy

    Shubhra Sethi joins Jiostar as head of entertainment Ad sales strategy

    Mumbai: Jiostar has announced the appointment of Shubhra Sethi as its head of entertainment Ad sales strategy. Bringing extensive expertise in advertising sales and strategic leadership, Shubhra will be instrumental in driving Jiostar’s advertising initiatives and strengthening its entertainment ad sales strategies.

    In her new role, Shubhra will lead the ad sales division, focusing on developing innovative strategies to maximise revenue and enhance advertiser partnerships. Her appointment underscores Jiostar’s commitment to advancing its position in the competitive media and entertainment industry by leveraging cutting-edge advertising solutions.

    With a strong background in media and advertising, Shubhra has earned recognition for her ability to design impactful sales strategies and foster client relationships. Her expertise is expected to elevate Jiostar’s advertising offerings, ensuring sustained growth and stronger market presence.

  • Uday Shankar and his band of three merry men

    Uday Shankar and his band of three merry men

    MUMBAI; They could have gone in for a single CEO like Disney Star India – or Star India before that – had done in the past.

    But with the magical Uday Shankar on top as the vice-chairperson to guide and direct strategy, the trio of Disney, Reliance Industries, and Bodhi Tree systems decided to go in for a troika of CEOs for the joint venture.  Kevin Vaz to lead  entertainment across platforms, Kiran Mani to head the combined digital organisation and the affable but effective Sanjog Gupta to spearhead the combined sports initiatives.

    A press release issued by Reliance Industries announced that the expectation is that the three will lead the new firm into a new era of ambition and disruption. “Together, they will leverage their unique strengths to cultivate a bold transformative vision that challenges the status quo and sets new standards in the industry,” it adds.

    Ambani is known to be a man in a hurry and willing to take risks. Leadership in every sector his group is involved in is all he asks. He is willing to give it time, but his watch runs differently, faster than every other entrepreneur in the business.

    Uday Shankar is built in the same vein. He has built a reputation of being on business steroids. Number one or nothing has always been his credo. Being the best in whatever he takes up. He is known to have taken tremendous risks, some say gambles, and on almost all occasions he has come out on top. The  team below him will have to keep pace.

    Kevin Vaz is a steady, consistent performer, who has stuck by Star for almost a score of years. An astute sales person, he has learnt to run a mean entertainment driven organisation. First, heading English language channels, then regional language ones, kids and infotainment ones. Finally, Hindi entertainment offerings  – the entire gamut before going on to settle at Viacom18 as CEO. With a strong second and third rung of creatives and programming heads leading the shows and series, he will not have too many a challenge from any of the others in the same space.

    Kiran Mani first cut his teeth in advertising working on Unilever brands. Then he spent eight years in IBM in marketing and channel sales in India. He hopped onto Microsoft  where once again he led marketing, strategy and operations. He then turned entrepreneur with an ad tech platform for which he found a buyer in two years. After a short stint at advising the National University of Singapore on its MBA programme, he dived into Google where he stayed for a baker’s dozen years, shuffling between India, the Bay area and Japan and Asia Pacific, finally settling down as general manager of android and Google Play for Asia Pacific and Japan when he was scouted and picked up to head Viacom18 Media. He burned the mid-night oil and weekends advising and angel investing in startups taking bets on emerging platforms and technologies while rapidly shooting up the corporate ladders. 

    Credentials like that are not easy to find, and he is the executive upon whom a lot rests as the world of entertainment consumption continues to transition from cable and linear TV to wireless streaming, handheld devices like mobile phones and tablets and connected TVs. And of course generative AI and machine learning. The area is teeming with competition with global biggies like Prime Video, Disney+ and Netflix and Google’s YouTube. What will hold him in good stead his deep attachment to meditation, mindfulness, and yoga which he has being practising for more than a dozen years.

    The bearded Sanjog Gupta is known to be a backroom executive, reticent, a quiet thinking leader who is more comfortable and does well in meeting rooms with his team and clients. With deep relationships across sports federations – both globally and locally, rights owners, athletes and sportsmen, a close and sharp eye on sports technology that vows the consumer, he has stayed ahead of all broadcast sports executives in the country and even in Asia. His challenge will be to keep the top line and bottom line healthy in an era of  skyrocketing licensing fees for sports like cricket. This apart, the Ambani family has taken upon itself to encourage other sports in the country, especially in the Olympic and Asian Games arena. Sanjog will have to find a way to train Indian viewers to start enjoying  and staying hooked to these sports as India vies to stage the Olympics within its shores in the next decade.   

    To know more about the other leadership teams please click here. https://www.jiostar.com/leadership/

  • Reliance, Viacom18 & Disney joint venture comes into effect

    Reliance, Viacom18 & Disney joint venture comes into effect

    MUMBAI:  It has taken its time to take its form, but it’s finally got there. Reliance Industries Limited (RIL), Viacom 18 Media (Viacom18) and The Walt Disney Co  (Disney) today announced that following the approval by the NCLT Mumbai, Competition Commission of India (CCI) and other regulatory authorities, the merger of the media and JioCinema businesses of Viacom18 into Star India Pvt Ltd (SIPL) has become effective (the JV). In addition, RIL has invested Rs 11,500 crore ($ 1.4 billion) into the JV for its growth. The latter has  in turn allotted shares to Viacom18 and RIL as consideration for the assets and cash, respectively. 

    The transaction values the JV at Rs 70,352 crore (US$ 8.5 billion) on a post-money basis, excluding synergies. At the closing of the transactions noted above, the JV is controlled by RIL and owned 16.34 per cent by RIL, 46.82 per cent by Viacom18 and 36.84 per cent by Disney.  

    Nita M. Ambani will be the chairperson of the JV, with Uday Shankar as vice chairperson providing strategic guidance to the JV. 

    The JV is home to the most iconic and engaging media brands in India across TV and digital platforms. The combination of Star and Colors on the television side and JioCinema and Hotstar on the digital front will provide extensive choice of content across entertainment and sports to viewers in India and globally. 

    A press release issued by the trio hailed the JV as heralding a new era in India’s entertainment industry for consumers. This unique joint venture of Reliance and Disney brings together the companies’ content creation and curation prowess, world-class digital streaming capabilities along with a digital first approach that will help the JV deliver unparallelled content choices at affordable prices to Indian viewers and the Indian diaspora globally.  

    The JV will be one of the largest media and entertainment companies in India with pro forma combined revenue of approximately Rs 26,000 crore (US$ 3.1 billion) for the fiscal year ended in March 2024. The JV operates over 100 TV channels and produces 30,000 plus hours of TV entertainment content annually. The JioCinema and Hotstar digital platforms have an aggregate subscription base of over 50 million. The JV holds a portfolio of sports rights across cricket, football and other sports.  

    The CCI  approved the transaction on 27 August 2024, subject to the compliance with certain voluntary modifications offered by the parties. Apart from the CCI, the transaction has been approved by anti-trust authorities in the EU, China, Turkey, South Korea and Ukraine. 

    “With the formation of this JV, the Indian media and entertainment industry is entering a transformational era,” said RIL chairman & managing director Mukesh Ambani. “Our deep creative expertise and relationship with Disney, along with our unmatched understanding of the Indian consumer will ensure unparalleled content choices at affordable prices for Indian viewers. I am very excited about the JV’s future and wish it all the success.” 

    “This is an exciting moment for our two companies, as well as for India’s consumers, as we create one of the top entertainment entities in the country through this joint venture,” said Disney CEO Bob  A. Iger. “By joining forces with Reliance, we are able to expand our presence in this important media market and deliver viewers an even more robust portfolio of entertainment, sports content, and digital services.” 

    “James and I are excited to be partners in this journey to disrupt the media and entertainment industry in India. The new organisation is committed to deliver an unprecedented level of creativity, disruption and new age consumer experience,” said Bodhi Tree Systems co-founder Uday Shankar. “As media consumption continues to move to an integrated TV-digital ecosystem, the merger of Viacom18 and Star India offers a unique opportunity to reorient the industry to better serve diverse cohorts of consumers across the country. Together, we aim to build India’s largest integrated media platform which will deliver unparalleled experiences in innovative and exciting ways.”

    Media observers agree. Says one of them: “This is a win-win for both the Mukeshbha-run RIL and Disney. The have the extremely skilled and talented Uday Shankar on their side of the fence. They can only grow in strength from hereon. And their opponents in the sector – Zee, Sony, Warner Bros Discovery, Sun TV , Google, Netflix, Amazon Prime Video, Microsoft  –  look like midgets compared to the giant that has been created.  For sure, in the coming years we are going to see attempts by the others to agglomerate and get scale for themselves. Not just consumers the entire sector is in for shakeups and exciting times.”

     

  • Govind Shahi set to exit Indiacast after a 12 year stint

    Govind Shahi set to exit Indiacast after a 12 year stint

    Mumbai: Highly placed sources have revealed that Govind Shahi, the International Business Head at Indiacast, is stepping down after an impressive 12-year run. Known for his leadership in steering Viacom18’s international channels to major growth, Govind is likely to explore new opportunities. While there was strong speculation about him taking the reins of international operations at Jiostar, it seems that he could be charting a different course.

    With over three decades of experience in media, including top roles at Zee and Colors, as well as various entrepreneurial ventures, Govind has made a mark in global broadcasting. He’s credited with launching key channels and events, such as Zee Russia, Zee Carnival, Zee Cine Awards, Colors Gujarati, and Colors Rishtey along with digital products like Voot, while spearheading a range of successful global initiatives.

    Govind will be leaving Colors at a time when the network is at its peak, dominating several international markets. Under his leadership, Colors became the only Indian broadcaster with a unified FAST (Free Ad-Supported Streaming Television) presence internationally -an achievement largely driven by his strategic vision and ability to adapt quickly to market needs.

  • Times Now Navbharat dominates YouTube with consistent leadership

    Times Now Navbharat dominates YouTube with consistent leadership

    Mumbai: Times Now Navbharat accumulated 1.3 billion video views in September and October, registering 570 million and 811 million video views respectively (Source: YouTube Dashboard). Displacing legacy digital players, the channel clocked a cumulative 43.1 million hours of watch time in two months (Source: YouTube Dashboard).

    The channel had crossed five million subscribers in August 2023 and has since added over one million subscribers every 45 days (Source: Playboard/Socialblade). By consistently building a strong affinity with its viewers, the channel surpassed 14 million YouTube subscribers as of November 8, 2024, securing its position as a leading player in the digital news ecosystem and setting new benchmarks for audience engagement and reach. ‘The latest one million subscribers were acquired in the past 30 days itself.

    The channel continues to invest in enhancing its audience delivery platform, ensuring brands gain from even more targeted reach and heightened viewer engagement. 

  • Sun TV reports balanced growth amid market volatility

    Sun TV reports balanced growth amid market volatility

    Mumbai: In a climate marked by increasing operational costs and fluctuating revenues, Sun TV Network Limited has reported a modest increase in revenue for the quarter ending 30 September 2024. Despite a 3.26 per cent year-over-year rise in revenue from core operations, which totaled Rs 799.36 crore (excluding movies and sports segments), the company’s bottom line tells a more complex story. Net profit after tax decreased by 12.7 per cent from Rs 456.24 crore in Q2 FY24 to Rs 398.17 crore, signalling operational challenges and increased expenses across the board.

    The growth in advertisement revenue, a critical component of Sun TV’s revenue, was a highlight. It saw a 2.13 per cent increase, reaching Rs 335.42 crore compared to Rs 328.42 crore in the same period last year. Subscription revenue also improved by 4.43 per cent, totaling Rs 436.75 crore, underlining the network’s stable viewer base across its diverse media platforms. This progress reflects Sun TV’s ability to engage its audience across four southern and three northern Indian languages, covering platforms from satellite television to digital OTT services and sports franchises.

    Operational costs, however, presented a significant burden, impacting profit margins. Sun TV’s operating expenses rose to Rs 219.61 crore, a marked increase from last year’s Rs 170.48 crore for the same quarter. The company reported EBITDA at Rs 528.98 crore, down from Rs 716.21 crore a year earlier, reflecting the broader cost pressures facing the network.

    Sun TV’s consolidated revenue from operations was Rs 934.54 crore, reflecting a year-over-year decrease from Rs 1,048.45 crore in Q2 FY24. The company also declared an interim dividend of Rs 5 per share, maintaining a consistent return to shareholders amid fluctuating financial performance. Earnings per share (EPS) fell from Rs 11.58 in Q2 FY24 to Rs 10.10 this quarter.

    From a cash flow perspective, the company reported a notable reduction in cash from operating activities, which stood at Rs 915.70 crore for the six months ending 30 September 2024, compared to Rs 1,127.56 crore for the same period last year. This contraction in operational cash flow underlines the challenges posed by rising expenses and investment needs.

    With the earnings release, Sun TV also disclosed a noteworthy revenue boost from its cricket franchises—Sunrisers Hyderabad and Sunrisers Eastern Cape. The combined income for these sports assets reached Rs 497.14 crore for the half-year period, underscoring the brand’s diversified revenue streams. The corresponding franchise expenses amounted to Rs 237.76 crore, a testament to the increasing financial stakes of sports franchise ownership.

    Depreciation and amortisation expenses further influenced the financial outcome, rising from Rs 214.34 crore in Q2 FY24 to Rs 191.36 crore this quarter. Meanwhile, finance costs also doubled to Rs 3.20 crore, reflecting additional capital needs.

    Sun TV’s mixed performance in Q2 FY25 signals both the resilience of its core revenue streams and the challenges posed by rising costs and intense market competition. With a focus on maintaining growth in advertisement and subscription revenues, the network’s strategic outlook may pivot towards enhancing cost efficiency, particularly within its sports and digital streaming ventures.

    Financial Highlights:

    1. Revenue Growth: Sun TV Network’s Q2 FY25 revenue (excluding movies and sports) increased by 3.26 per cent year-over-year, reaching Rs 799.36 crore.

    2. Advertising Revenue: Advertising revenue rose by 2.13 per cent to Rs 335.42 crore, indicating a stable recovery in ad spends.

    3. Subscription Revenue: Subscription revenue grew by 4.43 per cent, amounting to Rs 436.75 crore, driven by a strong subscription base.

    4. Total Income: Consolidated total income for Q2 FY25 stood at Rs 1,064.14 crore, a slight decline from Rs 1,125.08 crore in the previous year.

    5. EBITDA: EBITDA for the quarter was Rs 528.98 crore, down from Rs 716.21 crore year-over-year, reflecting broader industry cost pressures.

    6. Profit Before Tax: Profit before tax decreased to Rs 498.40 crore from Rs 608.24 crore in Q2 FY24.

    7. Profit After Tax: Net profit stood at Rs 398.17 crore, a decline from Rs 456.24 crore in the corresponding quarter last year.

    8. Interim Dividend: The board declared a 100 per cent interim dividend at Rs 5 per share, underscoring strong cash flow.

    9. Sports Franchise Income: Income from Sunrisers Hyderabad and Sunrisers Eastern Cape franchises reached Rs 497.14 crore for H1 FY25, with expenses at Rs 237.76 crore.

    10. Market Position: Sun TV Network’s diverse portfolio and stable revenue sources position it resiliently amidst changing media industry dynamics.

  • Zee Entertainment UK launches &TV on Samsung TV Plus

    Zee Entertainment UK launches &TV on Samsung TV Plus

    Mumbai: Zee Entertainment UK is expanding its presence in the UK and Europe with the launch of &TV on Samsung TV Plus. This follows the successful introductions of Zee One in Germany, Zee World English, and Zee Magic in France.

    &TV is the first Hindi entertainment channel on Samsung TV Plus in the UK, targeting the five million-strong South Asian population. It offers popular shows like Bhabhi Ji Ghar Pe Hain, Atal, Begusarai, Tere Bin, and Ghar Ek Mandir, all with English subtitles. These programs focus on relatable experiences, emotions, and cultural nuances that connect with British Asian audiences.

    This launch strengthens Zee Entertainment UK’s relationship with the British Asian community, offering an engaging and enjoyable viewing experience on Samsung TV Plus.

    Samsung TV Plus UK lead, content acquisition Stuart Pearson said, “We are thrilled to introduce &TV to Samsung TV Plus in the UK. This exciting addition brings countless hours of Bollywood-centric content to viewers in the region. Our partnership with Zee is built on robust fundamentals of audience engagement, and we are delighted to continue this successful collaboration.”

    Zee Entertainment Enterprises chief business officer – international business, Ashok Namboodiri, said, “We are absolutely delighted to announce the launch of our new channel, marking the first Hindi language channel on Samsung TV Plus. This incredible collaboration allows us to bring even more of our engaging and popular content to viewers in the UK. Following the successful launches of three other channels in the UK and Europe, this partnership with Samsung TV Plus is truly remarkable and an exciting milestone for us.”

    Samsung TV Plus is Samsung’s free ad-supported streaming service, requiring no subscription, sign-up, or additional devices. It is pre-installed on Samsung Smart TVs from 2016 to 2024 and available for download on Samsung Galaxy devices in select regions. The service is available in the UK and 15 other European regions with only an internet connection required.

  • Emirates brings NBA Cup to New York to kick off tournament

    Emirates brings NBA Cup to New York to kick off tournament

    Mumbai: The Emirates NBA Cup trophy arrived in New York to mark the start of the Emirates NBA Cup 2024, following its journey from Dubai. As the official global airline partner of the NBA and inaugural title partner of the Emirates NBA Cup, Emirates transported the trophy aboard an Airbus A380 featuring an NBA-themed livery. The tournament began on 12 November and will culminate with the championship game on 17 December in Las Vegas.

    NBA legend James Worthy accompanied the trophy, which was handed to NBA commissioner Adam Silver and Emirates senior VP Thierry Aucoc upon arrival in New York. The flight featured basketball-themed cabin décor across all classes, with NBA-branded food served in special packaging and live NBA games available on the in-flight entertainment system, ice. Passengers in first and business class enjoyed exclusive NBA-themed snacks and a chance to socialize with worthy in the onboard lounge.

    From now until 17 December, customers flying to and from 13 U.S. and Canadian cities will experience NBA-themed services, including co-branded headrests, NBA-inspired meals, and live game streaming on flights. Emirates lounges in select cities will feature NBA-themed menus. Passengers also received commemorative memorabilia such as limited-edition NBA replica aircraft models, luggage tags, and photo frames.

    Additionally, basketball fans can purchase NBA merchandise, including replica aircraft models, from the Emirates official store. The Emirates NBA Cup continues with group play matchups, including the San Antonio Spurs vs. the Los Angeles Lakers and the Memphis Grizzlies vs. the Golden State Warriors.