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TV segment pulls up WWE Network despite lower revenue: Q3-16 OIBDA

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BENGALURU: Despite a 13.7 per cent decline in WWE’s Television segment of its Media Division revenue, the segment reported a 21.8 per cent (year-over-year) y-o-y growth in OIBDA (Operating Income before Depreciation and Amortisation) for the quarter ended 30 September 2016 (Q3-16, current quarter) as compared to the corresponding year-ago quarter.

WWE reported revenues of $164.2 million in Q3-16, 1.2 per cent lower than $166.2 million in Q3-15. The company’s OIBDA in the current quarter at $24.5 million was 4.7 more than the $23.4 million in Q3-15. The company reported net income of $11.1 million, or $0.14 per diluted share, as compared to net income of $10.4 million, or $0.14 per
diluted share, in the corresponding prior year quarter.

WWE has four divisions – Media Division, Live Events, Consumer Products and WWE Studios. Its largest division is the Media Division which has four segments, the largest of which is Television, followed by the Network Segment. Digital Media and Home Entertainment Segments are the other two segments of the Media Division.

Company Speak

“During the quarter, we continued to effectively execute our content strategy, which has resulted in record revenues to-date in 2016 and increased consumption across our media platforms,” said WWE chairman & CEO Vince McMahon. “This growth illustrates meaningful progress against our long-term strategic plan and provides the foundation for achieving our 2017 financial objectives.”

WWE Chief Strategy & Financial Officer George Barrio stated, “We achieved a 24 per cent increase in average paid subscribers to WWE Network  and generated profits that were within the range of our guidance. We expect continued year-over-year growth in subscribers and profits for the fourth quarter resulting in strong full year performance that is in-line with our previous business outlook.”

Media Division

The Media Division reported revenue of $110.4 million in the current quarter, which was 3.9 per cent lower y-o-y than $114.9 million. The Division’s OIBDA for the current quarter increased 9.2 per cent y-o-y to $53.3 million from $48.8 million.

Television segment revenue declined to $56.3 million in Q3-16 from $65.2 million in Q3-15. The company attributes this decline to “contractual increases in key distribution agreements were more than offset by the prior year impact of WWE’s licensed reality series, Total Divas and Tough Enough. There were no scheduled airings of these programs in the third quarter 2016, while the prior year quarter reflected approximately $14 million in revenue from the fourth season of Total Divas  (13 episodes) and  Tough Enough  (8 episodes).’

Television segment’s OIBDA in the current quarter was $32.4 million versus $26.6 million in Q3-15.

Network Segment revenues, which include revenue generated by WWE Network and pay-per-view, increased 10 percent to $45.1 million.   WWE Network subscription revenue increased 18 per cent to $42.8 million from $36.4 million in the prior year quarter based on a 24 per cent year-over-year increase in average paid subscribers to 1.46 million says the company.

WWE Network says that it had 1.44 million total paid subscribers at the end of the third quarter, which represented a 17 percent increase from September 30, 2015. WWE Network had 1.07 million U.S. paid subscribers and 373,000 international paid subscribers at quarter-end.

Network segment OIBDA of $17.4 million was essentially unchanged from the prior year quarter ($17.7 million) as the growth in WWE Network subscription revenue was offset by increased programming expenses, including a $3.2 million allocation of certain expenses shared between the company’s Network and Television segments. A portion of the increase in Network programming expenses relates to the company’s previously communicated strategic investments.

WWE Network content, including pay-per-views, original series, NXT Takeover, and specials has continued to drive viewer engagement. During the quarter, the company says it has introduced compelling new content for WWE Network, including NXT Takeover Brooklyn III,   Holy Foley!,   WWE Draft Center Live, and Cruiserweight Classic, a 10-week global tournament.  The company says it is on pace to add more than 300 hours of original content to the network’s featured programming in 2016, and more than 2,500 hours of archival content to  WWE Network, which would result in an on-demand library of over 7,000 hours at year-end 2016.

Live events

Live Event revenues increased 9.6 per cent to $28.6 million from $26.1 million primarily due to the staging of 5 additional international events.

Consumer Products

Revenues from Consumer Products decreased 3.6 per cent to $21.6 million as higher online sales of merchandise at the Company’s e-commerce sites were more than offset by a reduction in licensing revenue.  Licensing revenues decreased 21.7 percent to $9.0 million primarily due to a lower effective royalty rate for our franchise video game,WWE 2K16, and lower sales of toy products.

WWE Studios

Revenues from filmed entertainment increased to $2.5 million as compared to $1.7 million in the prior year quarter.  The increase in revenue was due to the performance and timing of results from the company’s portfolio of movies. During the quarter, WWE Studios released two feature films, Scooby Doo! and WWE: Curse of the Speed Demon and Interrogation.  WWE Studios OIBDA increased $1.8 million due, in part, to the increase in revenues, and agreed changes to the terms of distribution of a previously released film, which resulted in lower expenses.

iWorld

Netflix celebrates a decade in India with Shah Rukh Khan-narrated tribute film

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MUMBAI: Netflix is celebrating ten years in India with a slick anniversary film voiced by Shah Rukh Khan, a nostalgic sprint through a decade that rewired how the country watches stories. The campaign doubles as both tribute and reminder: streaming did not just enter Indian homes, it quietly rearranged them.

Roll back to 2016 and television still dictated schedules. Viewers waited weeks, sometimes months, for favourite films to appear on prime time. Family-friendly filters narrowed options further, and piracy often filled the gaps. Then Netflix arrived, softly but decisively, carrying a catalogue of international titles rarely seen in Indian theatres and placing them a click away. Old blockbusters and new releases suddenly coexisted on the same digital shelf.

The platform’s real inflection point came in 2018 with Sacred Games, a breakout series that refused to dilute India’s grit for global comfort. Audiences embraced its unvarnished tone, signalling readiness for stories that did not need box-office validation or censorship compromises. What followed was a steady procession of relatable narratives. Competitive-exam anxiety fuelled Kota Factory. College relationships unfolded in Mismatched. Everyday pressures, not grand spectacle, proved bankable.

Language barriers thinned as foreign series arrived with Hindi, Tamil and Telugu dubbing, expanding viewership beyond urban English-speaking pockets. Marketing mirrored the shift. For global releases such as Squid Game, Netflix leaned on regional creators and influencers to localise buzz and make international content feel native.

The library widened beyond fiction. Documentaries stepped out of festival circuits into living rooms. Stand-up comedians found scale. Established filmmakers, including Sanjay Leela Bhansali with Heeramandi, embraced the platform’s long-form canvas. Subscriber numbers swelled to 12.37 million in India, according to Demandsage, and behaviour followed suit. Late-night binges became routine. Friday release rituals loosened. Watch parties turned solitary screens into social events.

Economics demanded adjustment. Early subscription pricing carried a premium aura that deterred many households. Over time, Netflix recalibrated plans to align with Indian spending sensibilities, conceding that accessibility is as critical as content. To extend momentum around marquee titles, the platform also experimented with split-season releases, stretching anticipation and watch time.

The anniversary film, narrated by Shah Rukh Khan, captures the linguistic shift that mirrors the cultural one: from “Netflix pe kya dekha?” to “Netflix pe kya dekhein?” The question moved from recounting the past to planning the next binge. In ten years, Netflix morphed from foreign entrant to familiar fixture, exporting Indian stories abroad while importing global ones home. The remote no longer waits; it chooses, clicks and moves on. In the streaming age, patience is out, playlists are in, and the next episode is always one tap away.

 

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Brands

Delhivery chairman Deepak Kapoor, independent director Saugata Gupta quit board

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Gurugram: Delhivery’s boardroom is being reset. Deepak Kapoor, chairman and independent director, has resigned with effect from April 1 as part of a planned board reconstitution, the logistics company said in an exchange filing. Saugata Gupta, managing director and chief executive of FMCG major Marico and an independent director on Delhivery’s board, has also stepped down.

Kapoor exits after an eight-year stint that included steering the company through its 2022 stock-market debut, a period that saw Delhivery transform from a venture-backed upstart into one of India’s most visible logistics platforms. Gupta, who joined the board in 2021, departs alongside him, marking a simultaneous clearing of two senior independent seats.

“Deepak and Saugata have been instrumental in our process of recognising the need for and enabling the reconstitution of the board of directors in line with our ambitious next phase of growth,” said Sahil Barua, managing director and chief executive, Delhivery. The statement frames the exits less as departures and more as deliberate succession, a boardroom shuffle timed to the company’s evolving scale and strategy.

The resignations arrive amid broader governance recalibration. In 2025, Delhivery appointed Emcure Pharmaceuticals whole-time director Namita Thapar, PB Fintech founder and chairman Yashish Dahiya, and IIM Bangalore faculty member Padmini Srinivasan as independent directors, signalling a tilt towards consumer, fintech and academic expertise at the board level.

Kapoor’s tenure spanned Delhivery’s most defining years, rapid network expansion, public listing and the push towards profitability in a bruising logistics market. Gupta’s presence brought FMCG and brand-scale perspective during a period when ecommerce volumes and last-mile delivery economics were being rewritten.

The twin exits, effective from the new financial year, underscore a familiar corporate rhythm: founders consolidate, veterans rotate out, and fresh voices are ushered in to script the next chapter. In India’s hyper-competitive logistics race, even the boardroom does not stand still.

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MAM

Meta appoints Anuvrat Rao as APAC head of commerce partnerships

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SINGAPORE: Anuvrat Rao has taken charge as APAC  head of commerce and signals partnerships at Meta, steering monetisation deals across Facebook, Instagram and WhatsApp from Singapore. The former Google executive, known for launching Google Assistant, PWAs, AMP and Firebase across Asia-Pacific, steps into the role after a high-growth stint as chief business officer at Locofy.ai.

At Locofy.ai, Rao helped convert a three-year free beta into a paid engine, clocking 1,000 subscribers and 15 enterprise clients within ten days of launch in September 2024. The low-code startup, backed by Accel and top tech founders, is famed for turning designs into production-ready code using proprietary large design models.

Before that, Rao founded generative AI venture 1Bstories, which was acquired by creative AI platform Laetro in mid-2024, where he briefly served as managing director for APAC. Alongside operating roles, he has been an active investor and advisor since 2020, backing startups such as BotMD, Muxy, Creator plus, Intellect, Sealed and CricFlex through a creator-economy-led thesis.

Rao spent over eight years at Google, holding senior partnership roles across search, assistant, chrome, web and YouTube in APAC, and earlier cut his teeth in strategy consulting at OC&C in London and investment finance at W. P. Carey in Europe and the US.

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