Tag: Culver Max Entertainment

  • Sony Pictures locks in media veteran for five-year run

    Sony Pictures locks in media veteran for five-year run

    MUMBAI: Sony Pictures Networks India has secured Gaurav Banerjee as managing director and chief executive officer until August 2029, cementing a five-year tenure that shareholders rubber-stamped at the company’s annual general meeting on 25 August.

    The appointment, effective since August 2024, regularises Banerjee’s position after he joined as an additional director the same month. He stepped into the hot seat last year, replacing NP Singh in a changing of the guard at India’s entertainment behemoth.

    Shareholders also waved through the elevation of general counsel Ritesh Khosla and chief financial officer Sibaji Biswas to whole-time director roles, with five-year terms kicking in from December 2024 and February 2025 respectively. The trio’s appointments follow the Companies Act’s stringent governance requirements, with statutory filings confirming none hold shares in the company or maintain family ties with existing board members.

    The moves come as Sony Pictures Networks India, which trades under the Culver Max Entertainment banner, seeks to fortify its leadership team amid intensifying competition in India’s Rs 1.8 trillion media and entertainment sector. The company operates a stable of 28 television channels spanning genres from news to entertainment, alongside its streaming platform SonyLiv.

    Financial results for FY24 underscore the scale of Banerjee’s mandate: the company clocked revenues of Rs 6,511 crore with net profit hitting Rs 840 crore. Subscription income of Rs 3,206 crore marginally outpaced advertising revenues of Rs 2,825 crore, reflecting the industry’s ongoing pivot towards direct-pay models as traditional advertising faces headwinds.  For Banerjee, the extended tenure offers breathing room to execute long-term strategy in a market where rivals are splashing billions on content and technology.

  • Sony’s India reboot: fresh faces, big bucks and a bold digital bet

    Sony’s India reboot: fresh faces, big bucks and a bold digital bet

    MUMBAI: Sony Pictures Entertainment (SPE) is doubling down on India, rebooting its strategy under new leadership and betting big on digital, cricket and content to reclaim lost ground in the subcontinent’s fast-evolving media landscape.

    Speaking at SPE’s annual presentation, chief executive Ravi Ahuja described India as a “tremendous opportunity” amid the country’s strong economic and population growth. The rejig came more than a year after the collapse of Sony’s much-hyped merger with Zee Entertainment.

    At the heart of the reshuffle is Gaurav Banerjee, former Star India top content boss, now managing director and chief executive of Sony Pictures Networks India (SPNI)— Culver Max Entertainment.

    Banerjee’s mandate: fix the fiction, fire up streaming, and sharpen Sony’s distribution game.

    SPNI, which runs 27 TV channels and the SonyLiv platform, reported Rs 839 crore in profit on Rs 6,510 crore revenue in FY24. The company is now funnelling fresh investments into digital, particularly SonyLiv, as part of a broader growth revival.

    “We are rebuilding and reorienting our growth strategy, including investment in digital and our Sony LIV streaming platform,” said Ahuja. “We recently secured exclusive media rights for all Asian Cricket Council (ACC) tournaments from 2024 to 2031, which we anticipate will boost viewership and enhance Sony LIV.”

    The sticker price:  $170 million. It also shelled out $200–250 million for the England and Wales Cricket Board rights, sub-licensing the digital India tour rights to JioHotstar but retaining TV control. But there’s a wrinkle: the upcoming Asia Cup in September may be under threat due to rising India–Pakistan tensions post the Pahalgam terror strike.

    Meanwhile, Sony Entertainment Television (SET) is in revamp mode. The channel, battling ratings pressure in fiction, is reloading its primetime slate with a rebooted Bade Achhe Lagte Hain, mythologicals like Prithviraj Chauhan and Shirdi Wale Sai Baba, and the upcoming thriller Aami Dakini. Tentpoles like Kaun Banega Crorepati, Shark Tank India and Indian Idol continue to anchor the lineup. SET also remains a YouTube juggernaut, with 184 million subscribers—ranking fourth globally.

    Globally, SPE posted sales of $9.9 billion and operating income of $774 million despite the Hollywood strike denting series output and SPNI dragging on profits.

    Sony may have dropped its  Zee alliance, but with a rejigged team, fresh IP, and digital firepower, its India innings appears to be just getting into super scoring mode. With both Ahuja and Banerjee  fresh at the crease and gradually getting their shots right, SET might well hit it out of the park this time.

  • Zee steals the show at Goafest as creativity gets its day in the sun

    Zee steals the show at Goafest as creativity gets its day in the sun

    MUMBAI: The glittering second day of Goafest 2025 turned into a proper awards ceremony slugfest  as Zee Entertainment Enterprises Ltd strutted away with the coveted ‘broadcaster of the year’ crown, leaving its competitors nursing wounded egos and consolation prizes.

    With the swagger of a seasoned prize-fighter, Zee knocked out the competition with a knockout punch of 28 points, courtesy of two golds, one silver, one bronze and a merit. Not bad for a day’s work, really.

    Star India Pvt Ltd  put up a respectable fight, clinching second place with 18 points after bagging one gold, one silver and two merits. Meanwhile, Viacom18 Media Private Litd  had to settle for bronze medal position with 16 points, managing two silvers and one bronze—a performance that suggests they’re more silver screen than silver medal material.

    The others weren’t entirely left empty-handed. Cheil India and Culver Max Entertainment each snagged a gold apiece, earning themselves eight points and a modicum of bragging rights at the office water cooler.

    The Abby Creative Awards 2025, powered by The One Show, didn’t stop at the broadcaster shakedown. Day two saw the advertising industry’s finest duke it out across specialist categories including public relations, digital specialist, design specialist, mobile specialist, technology specialist, and direct specialist. Because apparently, everyone’s a specialist these days.

    The awards, which have become something of a premier benchmark for excellence in Indian advertising and media, continue to prove that creativity isn’t dead—it’s just very competitive and occasionally ruthless.

  • Sony Pictures Networks India  hires southern market expert Rajaraman Sundaram as head content strategy

    Sony Pictures Networks India hires southern market expert Rajaraman Sundaram as head content strategy

    MUMBAI: Sony Pictures Networks India or Culver Max Entertainment has hired veteran television executive Rajaraman Sundaram as head content strategy. One wonders what one should read into this hire by CEO Gaurav Banerjee.

    Rajaraman has had deep exposure to the southern markets having worked at Vijay Television for almost 11 years in two phases January 2011-March 2006 and April 2009-January 2015. On both occasions, he was in the finance department.

    He was  given charge  of Asianet between December 2017 and September 2021 first as executive vice-president strategy (south) and then as business head. He was given the responsibility of Colors (Tamil) between September 2021 and July 2023.

    Rajaraman was then lured back to Disney Star India to work in the country manager India’s office between August 2023 and November 2024.  In between, the qualified chartered accountant worked with NDTV Imagine for two years (May 2007-April 2009) as vice-president finance. Then he had a stint at Hathway Cable & Datacom as chief operating officer -video business between April 2015 and December 2017.

    A question that needs answering is: in his new role, has Rajaraman been hired  to take Sony into the southern regional language market? Or is he being brought in to help Gaurav Banerjee  build the fictional slate of Sony Entertainment Television?  

    Gaurav Banerjee  and his core management team know it. And he is not telling. As yet. 

  • Changemakers 2024: Culver Max’s Gaurav Banerjee’s emergence from the shadows

    Changemakers 2024: Culver Max’s Gaurav Banerjee’s emergence from the shadows

    MUMBAI: Gaurav Banerjee does not come across as CEO nor as MD material when you meet him the first time. The bespectacled unassuming 47-year-old actually reminds you of a writer or a director or a journalist or a scholarly researcher. But today he sits atop Culver Max Entertainment as the chief executive officer & managing director, a handpicked successor to the quiet and unassuming number-crunching CEO NP Singh who built a profitable broadcast network and retired earlier this year.

    Not for GB, as he is known, are all the pomp and flash that others in the business were vaunt to opt for in earlier times when pay TV was a fat man’s business oozing money like there was no tomorrow. Today, pay TV is shrinking, cord-cutting is rampant cord-nevers are growing and the coming generation will probably not know what cable TV and satellite dishes were.

    GB – a history graduate from St Stephen’s College and a masters-degree holder in film making and TV production from Jamia Milia Islamia,  Delhi – belongs to a group of young executives like Arjun Nohwar who leads Warner Bros Discovery for India and south Asia.

    GAURAV BANERJEE

    These folks know they are leading legacy media companies in rapidly-changing times and they have to ensure that their charges stay relevant even in the midst of rapid churn and chaos.  Their response lies in putting their heads down and focusing on the task they have been assigned: protect and build legacy business and ensure they continue to generate cash which –  like in the past – continues fueling their existence and growth and money-gobbling streaming platforms.

    They also have to make the right moves on the streaming side on content, tech, distribution and business models. And they have to do all this profitably, without breaking the bank. For ranging against them are big players in the media and tech ecosystem: Google, Meta, Netflix, Amazon Prime and the potent combo of JioStar – all having deep pockets and a hunger to invest big and dominate the market. Plus there are others such as Zee5 and Sun Nxt and a string of other OTT players which are being spawned by the hour.

    No one in his or her right mind expected GB to be a candidate for the prized position of Culver Max Entertainment MD & CEO. For long the boyish-looking  executive was known to be a close ally, actually protégé, of current JioStar vice-chairman Uday Shankar and every one expected him to follow him to the joint venture that was in the making. (Danish Khan would succeed NP was most media observers’ guess; we at indiantelevision.com did not speculate about this)

    But GB probably knew otherwise; that it would be Kevin Vaz who would be chosen over him. Hence, when the offer to lead Sony came, he accepted it.

    Of course, he was deserving. A very strong content professional (he began his career as an anchor and producer with news channel Aaj Tak and later at Star News) with an uncanny knowledge of audience preferences, he knows how to weave stories into shows that generate high viewership.

    He did that very successfully both on Star Plus and Hotstar when he was president content at Disney Star India, retaining the network’s numero uno status for more than half a decade. It led others – who struggled to come even close – by a mile. To top it all he had the reputation of being a good manager and leader – earning the loyalty of his colleagues and subordinates.

    LA-based chair of global television studios and Sony Pictures Entertainment president & CEO Ravi Ahuja had expressed total confidence in GB’s visionary approach at the time of his appointment. “ Gaurav’s expertise in content creation and strategic leadership will undoubtedly lead SPNI (read Culver Max) into an exciting new chapter of growth and achievement. We are thrilled to have him at the helm and look forward to the continued success of SPNI under his leadership,” he had said.  

    GB has been playing low key ever since he took over in end-August 2024. He has been building up his A team bit by bit. Most old-timers have been retained, though some like Neerja Vyas chose to quit.

    Danish Khan who was EVP & business head Sony Entertainment Television, Studio Next and SonyLiv was recast to head -digital business, Studio Next, and networks channel licensing.   Ajay Bhalwankar, who  led Sony Marathi successfully,  was handed over Sony Sab to manage along with his existing charge.

    Nachiket Pantvaidya, general manager of Sony Pictures International Productions, was additionally made business head of Hindi general entertainment channel Sony Entertainment Television, marking his third stint with the network.

    Tushar Shah who led English, Bengali, and infotainment channels and  was the chief marketing officer (CMO) at the network was additionally asked to oversee Sony MAX, Sony MAX HD, Sony MAX 2, Sony WAH and Sony PAL.  

    Manu Wadhwa who was chief human resources officer was handed additional responsibility of information technology

    Ambesh Tiwari is currently being groomed to take over as kids channel Sony Yay’s business head when Leena Lele Dutta departs at the end of this fiscal year.

    Ritesh Khosla was brought in as general counsel.

    Veteran Rajesh Kaul, continued in his chief revenue officer, distribution and sports business head.  Aditya Mehta who headed corporate strategy, business monetization, and data analytics’ centre of excellence continues in his position.  Sandeep Mehrotra, continued in his position as EVP -sales.

    A new CFO Sibaji Biswas is slated to join come the first week of January 2025.

    The new leaders, in turn, have been building, their respective A teams.

    GAURAV BANERJEE

    In the meanwhile, GB has been working on getting to know  Culver Max Entertainment, its processes, its people, its neurology, its innards  better. He starting rerunning  episodes of old shows (Beyhadh, Bade Achche Lagate Hain, among others) on Sony excepting for  non-fiction shows Kaun Banega Crorepati and Indian Idol. The two were tweaked with better production quality and selection of participants. Each contestant had a dramatic back story or extremely good talent. Or even both.

    Without incurring any great additional programming costs, the ratings of SET  started rising.

    The teams in the meanwhile strategised on what kind of programming audiences would like to see on the network. The answer was classics like CID and Tenali Rama which would be modernised, have better casting, fabulous production values and improved storytelling. The first is being produced by Banijay Asia and the second by Contiloe Films and have already starting airing on their respective channels Sony Entertainment and Sony Sab. The focus in on gauging audience reactions to these two, before launching new shows which are currently being developed with other producers. Shark Tank, which has been drawing eyeballs and attention ever since it launched three seasons ago is slated to launch on 6 January.

    The second strong plank of content at Culver Max is its sports programming under the Sony Sports Network umbrella. Recently, rights to the Asian Cricket Council covering men’s, women’s, under19’s, and men’s and women’s emerging Asia cup tournaments from 2024 to 2031 were  acquired. The network already has rights to  cricket matches in New Zealand, England, Sri Lanka. Formule E race broadcast rights have been inked for the next three years. 

    For football fans, close to 1,600 matches from the 2024-2025, 2025-2026 and the 2026-27 seasons of the UEFA Champions League, UEFA Europa League, UEFA Conference League, UEFA super cup and UEFA Youth League havbeen be been signed up earlier this year. Ultimate Fighting Championship matches till 2028 should continue attracting its loyal audiences, even though it’s quite possible it will lose the WWE (its staple)  programming to Netflix which has paid top dollar for it as part of a global acquisition deal.  Rights to local Hockey India League championships for three years have also been acquired,. Sony has also been a partner to three of the Grand Slam tennis tournaments. Therefore it has enough heft to keep viewers engaged throughout 2025 with their TV and handphones, says GB.

    SonyLiv is the least of GB’s worries. Led by old-timer Danish Khan and content commissioner Saugata Mukherjee, the streamer has been churning out shows which have attained cult status: The Scam, Rocket Boys, Freedom at Midnight, Gullak, Tanaav, Cubicles, Undekhi, among many others. It has loyal subscribers who know what they are going to get on the platform, and they come there to get it. Sources indicate that it has the lowest churn among all the streamers, though its subscriber base is in the 15-20 million range.

    Four months into his job, and GB has begun to make his presence felt on the Indian entertainment landscape. He has just begun emerging from the shadows as a corporate leader. 2025 will see his influence spreading even further.

    Media mavens had better not be surprised if he makes some sharp moves, especially acquisitive ones. For as his boss Ravi Ahuja expressed to him on his December visit to India: “Exceed expectations, take on new challenges, and build your skills and network – that’s the path to leadership!”

    To his advantage, to many in the industry, he is a mystery, known more for his content savviness, not for his managerial or strategic skills. 

    And that is his trump card. 

    (We asked an AI pic generator to re-imagine Gauarav Banerjee through its tool, and the main picture on our home page is what it came up with. No malice is intended toward Culver Max, Gaurav Banerjee or anyone else asociated with personally or professionally. No copyright infringement is intended either.)
     

  • 2024 The Change makers: Subhash Chandra, the corporate warrior

    2024 The Change makers: Subhash Chandra, the corporate warrior

    MUMBAI: Subhash Chandra. No idea if today’s GenZ AND Gen Alpha know who he was. The freedom fighter in the 1940s believed in the use of guns as much as Mahatma Gandhi did in ahimsa. He did his best to trouble the English during their occupation of India. For many he is just a name in the history books.

    The modern day Subash Chandra that we know is also a doughty fighter. Excepting that he had a Goyal to his surname which he dropped.  Excepting that  he is an entrepreneur and a corporate warrior. The pioneer of lamitubes in the country. Now they are common place in this nation of ours but when he launched the tubes in India in the nineties as a replacement for the old aluminium toothpaste packaging, they were unfamiliar. T hey were an immediate success.  Soon his Essel group was the largest manufacturer of the tubes in the worldThe pioneer of entertainment pay TV in India.

    Then he launched his general entertainment television channel Zee TV, which was again a major runaway hit. It seemed whatever he touched turned to gold, or at least had to have long-term value.

    Subhash Chandra

    Cut to two years go. In 2022, Zee got into a conversation with Sony – oops we should say Culver Max Entertainment – to merge in readiness for the media gorilla that would be formed with the merger of Reliance-Viacom18 and Disney Star India. Due diligences had been done, valuations had been arrived at, exit clauses and penalties agreed upon.

    All seemed to be going well. Until dirt hit the fan and banks started calling in his loans he had taken against his equity holding in Zee to realise his grandiose ambitions to get into the development sector, that is infrastructure. The amounts were large and fingers of suspicions were pointed towards him and his son Punit the CEO of the company. Allegations that the Zee books were not all clean flew, the goateed entrepreneur was forced to step down as a director and chairman from his own company. As was his son as a director.

    The banks continued to bay for his blood and some of the FIIs actually cashed in their holdings and the promoters’ equity in a company which he had built from scratch fell to sub-five per cent levels.  He was suddenly a minority shareholder, with no control, no say, over the once entertainment power house he ruled with a tight fist.

    Through all of this, Sony continued to say it would go ahead and wed Zee. Of course, negotiations were hard as the Zee share price had meanwhile tanked. After much discussion, a peace accord was arrived at that Punit would be MD.

    Things seemed to be proceeding when before they could say hello, the proposal to form a joint venture with Sony collapsed with no hope of revival. In January earlier this year, Sony decided to officially call of their discussions with Zee TV.  Two years of laborious discussions and getting ready for the merger went down the drain.

    The two litigated against each other internationally and within India – Zee to get the NCLT’s order to Sony to go ahead with the joint venture and Sony seeking $90 million as penalties.  They finally smoked the peace pipe in August 2024, calling of their disagreements with each other.

    But some damage had been done by the banks which name called him, Sony’s backing out, all the bad press, and the impending merger between Disney-Star-Viacom18-Reliance. The Zee Entertainment share lay in the doldrums – a far cry from the Rs 500 zone it once roamed.

    Zee would collapse was what many a media observer foretold:  after all, from media baron Chandra was now a media fallen. Every company in his media empire – whether Zee Entertainment or Zee Media or Siti Networks or Dish TV – was facing flak from all quarters. 

    Subhash Chandra

    But not Subhash Chandra. He does not believe in giving up easily even if the powers that be in the Centre are not looking upon him kindly. Even if all the naysayers and rivals are ranging against him.

    In fact, being down and out gave the 74 year old a new infusion of energy. He had something to prove to himself: that he could turn around the venture he had given birth to, nurtured, until, because of circumstances beyond his control, had gone out of his hands.

    He came up with a plan to keep costs under control, let go of the flab that had accumulated in Zee Entertainment, trimmed the workforce and went back to the drawing board to begin almost as if anew. He got the professional Zeel’s  board approval to back him and his rescue plan.

    Along with his sons Punit and Amit, he went out into the market, calmed jittery nerves of banks, financial institutions, lenders, and the markets as a whole. He also hit the international markets and managed to get international financial institutions to invest in his abilities to get Zee back into fine fettle. He raised Rs 2,000 crore to almost every financial analyst’s disbelief.  But that’s Subhash Chandra for you.

    These days Subhashji or chairman (as he is called) is back on the shop floor – or should we say studio floor.

    He’s rolled up his sleeves and he is back to doing what he did best in the early days of Zee TV: go by his gut and select the right stories and make them into TV shows. His goal:  get Zee back to the top of the ratings charts.  And be ready for the behemoth JioStar when it starts stomping its way into the marketplace with its large platter of offerings soaking up advertising and subscription revenues.

    Will his magic work in today’s D2C world?

    Will he win over his lost TV viewers again in an era where streaming is gnawing away at linear TV consumption?

    Will he manage to get Zee5 to fire on all cylinders?

    He will. That’s what he is betting on.

    And we at indiantelevision.com also tend to agree.

    For the gent from Hissar, Haryana, carries a name he has to live up to: Subhash Chandra.  

    (We asked Microsoft image generator to re-imagine Subhash Chandra as a corporate warrior and the main image of the executive with the sword  is one of the images it came up with. No offence is intended to Subhash Chandra nor to anyone at Zee TV nor his family. No copyright infringement is intended either)

    Pictures of Shubash Chandra courtesy his X account. 

  • Promax India Awards 2024 wraps up with spectacular wins

    Promax India Awards 2024 wraps up with spectacular wins

    Mumbai: The Promax India Awards 2024 have officially wrapped up, marking the end of an extraordinary virtual event celebrating the brightest talents in media and entertainment marketing. With an array of creative work across 57 categories, this year’s awards highlighted the industry’s leading players’ resilience, innovation, and creativity.

    Despite the challenges faced by the industry in a post-pandemic landscape, the virtual format allowed Promax India to reach a global audience, showcasing the best work in entertainment marketing and promotion. This year’s winners demonstrated artistic excellence and a keen ability to adapt and thrive in a rapidly changing environment.

    Shemaroo Entertainment led the pack with an impressive haul, taking home 20 Gold and 13 Silver awards. Their campaigns stood out for their creativity and impact, setting new benchmarks in the industry. Disney Star/ Disney+ Hotstar/ NGC also shone brightly, securing 15 Gold and 11 Silver awards. Their innovative approaches to brand promotion and audience engagement were widely recognised and celebrated. Culver Max Entertainment claimed 9 Gold and 13 Silver awards, showcasing their versatile and dynamic work across various categories. Zee Entertainment Enterprises made its mark with 6 Gold and 6 Silver awards, reflecting its commitment to pushing the boundaries of entertainment marketing. Viacom18 earned 1 Gold and 8 Silver awards, underscoring their consistent efforts to deliver high-quality promotional content. Reporter Broadcasting Company garnered 2 Gold awards, highlighting their impactful storytelling and marketing strategies. MA+TH Entertainment Network achieved 1 Gold and 1 Silver award, showcasing their innovative contributions to the industry. White Turtle Studios – A Trailer Park Group Company and Dynamite Design each took home 1 Silver award, while Cutawayy Films and Warner Bros. Discovery celebrated their success with 1 Gold each.

    Promax India event director Andy Chua reflected on the event’s success, stating, “It’s been a challenging year for the Indian entertainment media industry, with many companies still recalibrating and navigating the new market realities post-pandemic. But what really stands out to me is how this challenge has sparked even more creativity and smarter budgeting, as seen in the brilliant entries we’ve received for The Promax India Awards. As we come together virtually to celebrate these achievements, I’m excited to share that Promax India is evolving, too. Next year, we’ll be rebranding as The Global Entertainment Marketing Academy of Arts and Sciences (GEMA), and we’re planning to bring a fresh, in-person event to India. I can’t wait to see what the future holds for all of us.”

     

  • Zee-Sony merger gets nod from stock exchanges

    Zee-Sony merger gets nod from stock exchanges

    Mumbai: Zee Entertainment Enterprises (Zeel) on Friday received approval from the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) for its proposed merger with Culver Max Entertainment (formerly Sony Pictures Networks India).

    “The approval from the stock exchanges marks a firm and positive step in the overall merger approval process,” said the company statement. The approvals permit the Zee to proceed with the next steps in the overall merger process.

    The composite scheme of arrangement remains subject to applicable regulatory and other approvals.

    The Zee-Sony merged entity will be one of the largest media and entertainment players in India with close to $2 billion in revenue. Zeel MD and CEO Punit Goenka will serve as the managing director and chief executive officer of the merged entity over the next five years.

    After the closing, Sony Pictures Entertainment, which owns Culver Max Entertainment, will indirectly hold a majority of 50.86 per cent of the combined company, the promoters of Zeel will hold 3.99 per cent, and the remaining Zeel shareholders will hold a 45.15 per cent stake.

    It has been seven months since the two companies announced their intention to merge by signing definitive agreements.