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Tag: Disney Star India

  • Disney reports substantially better results in Q1 FY 2025

    Disney reports substantially better results in Q1 FY 2025

    MUMBAI: The Walt Disney Company reported robust Q1 FY25 financial results, driven by growth in its entertainment and experiences divisions and a return to profitability in streaming operations. The company posted a 44 per cent  jump in adjusted earnings per share to $1.76, exceeding market expectations of $1.45. Revenue rose by five per cent  to $24.69 billion, fuelled by strategic price hikes across streaming services.

    The direct-to-consumer (D2C) segment, encompassing Disney+, Hulu, and ESPN+, delivered a $293 million operating profit, recovering from a $138 million loss in the same quarter last year. However, Disney+ saw a marginal decline in subscribers, slipping to 124.6 million from 125.3 million in Q4 FY24. Hulu reported a three  per cent  growth in its subscriber base, offsetting some losses.

    Despite the dip in Disney+ subscribers, D2C revenue increased by nine per cent, reflecting the effectiveness of pricing strategies. The company announced plans to launch ESPN as a stand-alone streaming service by fall 2025, with a focus on delivering comprehensive sports content and digital features.

    Disney’s entertainment division recorded double-digit operating income growth, supported by the success of key franchises. Box office revenue saw a rebound, thanks to blockbuster releases and a strong international performance. Upcoming releases are expected to sustain this momentum in the next quarter.

    The sports division reported an impressive operating income of $250 million, reversing a $100 million loss from the same period last year. The absence of major cricket events in Q1 and improved operating efficiencies contributed to this turnaround.

    The experiences, parks, and products segment remained a key growth driver, bolstered by strong demand for domestic and international parks. Revenue from this segment surged by double digits as travel and leisure activities continued to normalise post-pandemic.

    Disney finalised a $220 million merger of its Hulu + Live TV business with FuboTV, taking a 70% ownership stake in the combined entity. CEO Bob Iger confirmed the company’s commitment to further growth in digital entertainment and immersive experiences.

    Looking ahead, Disney forecasts high single-digit earnings per share growth for FY25 and double-digit operating income growth in the entertainment division. However, the stock dipped 2.4 per cent  following the report, influenced by concerns over Disney+ subscriber declines.

    Meanwhile, moving on to its India operations. The mousehouse expects a $300 million equity loss from its Indian joint venture (JV), JioStar, in FY25 due to purchase accounting, according to CEO Bob Iger and CFO Hugh Johnston in the company’s Q1 FY25 earnings commentary. The JV, formed with Reliance Industries (RIL) and Bodhi Tree Systems, marked the merger of Star India, Disney+ Hotstar, and Reliance’s media assets.

    Disney, which holds a 37 per cent  stake in JioStar, deconsolidated Star India’s results from 14 November 2024. This quarter included just 1.5 months of Star India operations, compared to a full year in fiscal 2024. The company reported a $33 million equity loss from the JV in Q1, primarily linked to purchase accounting.

    The JV is projected to contribute $74 million to Disney’s entertainment operating income in FY25, down from $254 million last year, while the sports segment is expected to generate $9 million, recovering from a $636 million loss.

    Advertising revenue from Disney+ Hotstar in India fell sharply to $15 million in Q1 FY25, compared to $165 million the previous year. Despite this decline, direct-to-consumer (D2C) ad revenue outside India rose 16 per cent. Disney anticipates D2C operating income to increase by $875 million in FY25, partly due to an improved comparison against a $200 million adverse impact from Disney+ Hotstar in the previous year.

    Sports segment income improved to $250 million in Q1, recovering from a $100 million loss in Q1 FY24, which had aired the ICC Cricket World Cup.

    The company recognised a $143 million impairment charge and a $0.2 billion non-cash tax charge in Q1 FY25 as part of transaction-related restructuring. Cumulative foreign currency translation losses net of tax amounted to $0.8 billion.

    JioStar, valued at $8.5 billion, is 56 per cent  owned by RIL and seven per cent  by Bodhi Tree Systems. Disney’s move signals a strategic shift in its approach to the Indian market amid evolving media consumption patterns.

    The Walt Disney Company reported robust Q1 FY25 financial results, driven by growth in its entertainment and experiences divisions and a return to profitability in streaming operations. The company posted a 44 per cent  jump in adjusted earnings per share to $1.76, exceeding market expectations of $1.45. Revenue rose by five per cent  to $24.69 billion, fuelled by strategic price hikes across streaming services.

    The direct-to-consumer (D2C) segment, encompassing Disney+, Hulu, and ESPN+, delivered a $293 million operating profit, recovering from a $138 million loss in the same quarter last year. However, Disney+ saw a marginal decline in subscribers, slipping to 124.6 million from 125.3 million in Q4 FY24. Hulu reported a three  per cent  growth in its subscriber base, offsetting some losses.

    Despite the dip in Disney+ subscribers, D2C revenue increased by nine per cent, reflecting the effectiveness of pricing strategies. The company announced plans to launch ESPN as a stand-alone streaming service by fall 2025, with a focus on delivering comprehensive sports content and digital features.

    Disney’s entertainment division recorded double-digit operating income growth, supported by the success of key franchises. Box office revenue saw a rebound, thanks to blockbuster releases and a strong international performance. Upcoming releases are expected to sustain this momentum in the next quarter.

    The sports division reported an impressive operating income of $250 million, reversing a $100 million loss from the same period last year. The absence of major cricket events in Q1 and improved operating efficiencies contributed to this turnaround.

    The experiences, parks, and products segment remained a key growth driver, bolstered by strong demand for domestic and international parks. Revenue from this segment surged by double digits as travel and leisure activities continued to normalise post-pandemic.

    Disney finalised a $220 million merger of its Hulu + Live TV business with FuboTV, taking a 70% ownership stake in the combined entity. CEO Bob Iger confirmed the company’s commitment to further growth in digital entertainment and immersive experiences.

    Looking ahead, Disney forecasts high single-digit earnings per share growth for FY25 and double-digit operating income growth in the entertainment division. However, the stock dipped 2.4 per cent  following the report, influenced by concerns over Disney+ subscriber declines.

  • Bigg Boss18 used to reveal IPL team Punjab Kings’ skipper Shreyas Iyer

    Bigg Boss18 used to reveal IPL team Punjab Kings’ skipper Shreyas Iyer

    MUMBAI: There are many synergistic benefits that the merger between Star India and Viacom18 under Reliance can  -and will-  bring. And this was  an obvious one – the low hanging fruit –but it was not expected.  An IPL team announcing its captain on an entertainment reality show.

    Yes, that did happen. And it’s kudos to JioStar vice-chairman Uday Shankar and his band of merry executives. Can’t forget our man from Endemol, Deepak Dhar and his creative bunch. And to the team which ventured to do it.

    The 12 January weekend  episode of Bigg Boss18 saw, for the first time in IPL history, the Punjab Kings unveiling their captain in a way that’s never been done before—on the Bigg Boss18 stage, hosted by none other than Salman Khan! And of course the Punjab Kings skipper was revealed to be Shreyas Iyer, the swashbuckling batsman and leader.

    “We are breaking barriers between sports and entertainment. This iconic collaboration between cricket and entertainment celebrates innovation and ambition, setting the tone for IPL 2025. Shreyas Iyer, our leader, is ready to guide PBKS to new heights,” said the Punjab Kings in a post.  

    It went to congratulate “the visionary teams at Punjab Kings and Endemol for making this happen. Satish Menon (CEO) and  Saurabh Arora (CCO).”

    Added  London-based sports consultant Anduhav Roda on Linkedin: “This unprecedented move not only captured the attention of cricket fans but also showcased a brilliant marketing strategy that leverages one of India’s largest entertainment platforms By choosing Bigg Boss18 as the stage for their announcement, Punjab Kings effectively tapped into the show’s massive viewership, reaching millions of potential fans in a single broadcast The involvement of Bollywood superstar Salman Khan and the involvement of players with housemates added a layer of excitement to the announcement, making it a memorable moment for both cricket and reality TV fans This approach allowed for a more personal connection with fans, as they witness their favorite players in a familiar entertainment setting. This not only sets a new precedent for how sports franchises can engage with audiences but also highlights the growing intersection between sports and entertainment in India.”

    However, a senior media planner who was not willing to be identified said this was only possible as both the streaming and television telecast rights for the IPL are now  under one roof –that of JioStar. Says she: “Earlier it was not possible as both Viacom18 and Disney Star had to be on tenterhooks in case one objected to the other’s innovation.”

    Let’s hope the merger gives us a lot more surprises – like the one Punjab Kings did. 

  • Aditya Narayan transitions from Disney Star India to JioStar as regional sales head

    Aditya Narayan transitions from Disney Star India to JioStar as regional sales head

    MUMBAI: He’s got a premium job at JioStar. Aditya Narayan has just transitioned from Disney Star India  to the Uday Shankar-headed behemoth continuing with his earlier designation as regional sales head.

    At Disney Star India,  Aditya  spearheaded sales strategies for over three and a half years. His tenure there was marked by remarkable success in developing key partnerships and driving sales across multiple domains. At JioStar he has been charged with  integrated selling and raising revenue for premium sports  from the south. 

    Aditya’s professional journey also includes significant contributions at ByteDance India, where he led monetisation efforts, and Rajasthan Patrika, where he helmed business operations for Patrika TV. Notably, he  played a pivotal role in launching the Magicbricks Now channel during his time at the Times Network, showcasing his ability to lead large-scale projects with finesse. Following Times Network, he did short stints with Network18 and BTVI. 

    Throughout his career, Aditya has built a reputation for strategic thinking, interpersonal communication, and his ability to adapt to dynamic market conditions. His hands-on approach and visionary mindset have consistently delivered exceptional results, making him a trusted leader in the sales domain.

    In the early part of his career, Aditya spent almost four years working  in sales for FM radio stations beginning with Radio Mirchi (a year), followed by  Radio City (a  year nine months)  and then with RadiOne (a year and five months).

    As he steps into his new role at JioStar, Aditya is poised to bring his experience to the table, leveraging his deep understanding of the premium sports market to drive regional sales growth.

  • 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. 

  • Star Sports wins four awards at SportsPro Summit Madrid

    Star Sports wins four awards at SportsPro Summit Madrid

    MUMBAI: JioStar head – sports production services to all consumer functions & production technology Prashant Khanna is over the moon. Just last week, Disney Star India was handed out four awards at SportsPro Summit in Madrid. All under his watch as head of the innovation lab at Disney Star prior to the network’s merger with Viacom18.

    Amongst the awards that it won included:

    * Platform of the Year – network – Gold: 
    A record-breaking year for Disney Star Sports: sky-high viewership and cutting-edge technologies

    *  Innovation of the Year – Gold: 
    Disney Star and ICC introduce “MaxView” for 800m+ mobile friendly cricket audience in India –

    * Best Use of AI – bronze: 
    Star Sports used AI to translate international cricketers’ commentary into Indian regional languages

    *  Best Marketing Strategy – Gold
    Hotstar for its  marketing strategy which has driven awareness, engagement and consumption of sports content on an OTT platform.

    “What a year for Star Sports it has been! Being recognised on a world stage along side the sports industry stalwarts is a testament of this team and our amazing partners in ICC, BCCI and other boards and leagues that allow us to push boundaries every time across our platforms (lnear and digital),” said PK (as he is known to colleagues) on Linkedin. 

  • 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-Disney Star India merger to see closure within a couple of months

    Reliance-Disney Star India merger to see closure within a couple of months

    Mumbai: Reliance Industries Limited (RIL) is on track to finalise its merger with Disney’s India operations by the third quarter of FY25  – a move anticipated to significantly bolster its media presence. (Q3 FY 2025 ends on 31 December 2024, which means the merger has got just about two months, if not earlier, to achieve closure). This announcement follows RIL’s  Q2 FY 2025  financial results, showcasing a resilient performance across its diversified business segments.

    On 28 September, the ministry of information & broadcasting (MIB) granted approval to RIL for the transfer of channels from Viacom18 to Disney Star India, paving the way for the $8.5 billion merger with Disney. The merger of Viacom18 and Star India has already been given the green signal from the Competition Commission of India (CCI- subject to certain voluntary conditions), and the National Company Law Tribunal (NCLT) has also given it the thumbs up. “The companies are now securing additional required approvals, with the transaction expected to close in Q3 FY25,”  Reliance Industries announced in its quarterly earnings report on 14 October 2024.

    In a statement, Reliance chairman & managing director, Mukesh D. Ambani expressed optimism about the merger’s potential impact: “This merger will create a powerful platform for delivering exceptional content and experiences to our customers.” He highlighted the strategic alignment between Reliance’s digital services and Disney’s rich content library as a catalyst for growth.

    “Viacom18’s integration with Disney’s assets is expected to create a formidable entertainment platform, offering a diversified content library and reaching millions of viewers across the country,” a company spokesperson stated. “The strategic alignment of media assets will enhance our ability to deliver premium content and attract more subscribers.”

     

  • Disney Star India’s StarLab partners with Aussie firm STWS for innovations

    Disney Star India’s StarLab partners with Aussie firm STWS for innovations

    MUMBAI: StarLab – part of Disney Star India – has partnered with the Aussie sports tech consulting and services firm Sports World Tech Series and will be participating in its STWS event from 22 to 25  October 2024 in Melbourne.  

    The purpose: providing guidance and scouting startups that can play a future role in addressing problem statements around fan engagement, new audience development, immersive sports viewing, and AI-driven production workflow improvements in sports media as a partner with STWS.

    StarLab will be participating in the Sports Tech Academic Day, Sports Tech Startup & Investor Day, and ANZ Sports Technology Awards at Australia Sports Innovation Week (ASIW), which is rated as the southern Hemisphere’s largest and most respected sports technology event.

    For the Academic and Startups & Investor Day, StarLab will help shortlist candidates and potentially enable the shortlists to secure their first contract with Star Sports.

    For the ANZ Sports Technology Awards, the Star Sports leadership will assist in evaluating candidates and selecting the winners.

    “We stay committed to deepening our understanding of our consumer and what elevates their experience during sporting events. By actively engaging with the talent from Sports Tech Academic Day, Sports Tech Startup & Investor Day, and the ANZ Sports Technology Awards, we gain greater awareness of the latest innovations and emerging trends,” said Disney Star head of production excellence & R&D Prashant Khanna.

    HiG Sports founder & CEO Abhishek Padwal (the agency that facilitated this alliance), further added, “This collaboration is a win-win for both parties, as StarLab enhances and adds value to the startup assessments at ASIW, while gaining access to talent, innovations, and intelligence aimed at solving their problem statements.”

    Disney StarLab drives the adoption of enhanced production technology and workflows, delivering next-gen consumer experiences alongside executing special fan engagement initiatives such as AI language translation, MaxView for AI-enabled vertical viewing on mobile devices, sign language for the deaf sports fans, StarVerse – Star Sports Metaverse for sports fans, optical fielders tracking and more, while also building intellectual property that enhances fan delight.

  • MIB gives nod to RIL’s Viacom18 to transfer TV channel licences to Disney’s Star India

    MIB gives nod to RIL’s Viacom18 to transfer TV channel licences to Disney’s Star India

    MUMBAI: The creation of a media monolith in India got another tick mark over the weekend.

    Oil to telecom to retail giant the Mukesh Ambani-owned Reliance Industries Ltd and its broadcast subsidiary  TV18  Broadcast Ltd informed the Bombay stock exchange that the ministry of information & broadcasting (MIB) has given its offshoot Viacom18 Media the go-ahead to transfer its non-news and current affairs TV channel licences to the Walt Disney owned Star India.  

    The ministry issued the clearance on 27 September, stating that it is subject to complying of conditions laid down by the Competition Commission of India (CCI). 

    RIL and the mouse house had on 28 February announced that the two giants were “setting up a strategic  joint venture to  bring together the most compelling and engaging brands in India.”

    The transaction had valued the joint venture at Rs 70,352 crore, with RIL pumping  Rs 11,500 crore into it.

    The two had also agreed to merge Viacom 18 Media’s assets with Star India with the  transfer and vesting of the Media Operations Undertaking from Viacom 18 and Jio Cinema into Digital 18, a subsidiary of Viacom 18.

    RIL owns a clutch of channels including the Colors and Sports 18 brands through  Viacom18 as well as the OTT platform JioCinema whereas Star operates market leader Star Plus, several regional language channels  and the OTT service Hotstar. 

    Under the finalised deal, RIL and its affiliates will hold a 63.16 per cent  stake in the newly formed entity, which will manage two streaming services and 120 television channels. The Walt Disney Company will retain the remaining 36.84 per cent stake.

    Permissions for the initiative got the CCI green signal, subject to certain conditions, on 28 August, while the Mumbai bench of the National Company Law Tribunal (NCLT) gave its clearance on 30 August for the two to merge, subject to clearance for the transfer of licences by the MIB.

    Post the merger, RIL director Nita Ambani will be appointed as the chair person of the new entity with Uday Shankar being  the vice-chairman. 

  • Indian media and entertainment techies flock to IBC2024

    Indian media and entertainment techies flock to IBC2024

    AMSTERDAM: IBC which is held at the Rai exhibition centre in Amsterdam in September every year is considered a very important stop in every leading broadcaster, systems integrator, OTT platform, technology provider, equipment manufacturer’s  calendar. 2024 saw its importance rise even further as a record number of executives, journalists, sales folks, students descended from their planes in the famed Schipol airport and made their way to the south of the city between 13 and 16 September.  

    The constant refrain amongst most attendees was that IBC2024 had outscored the other famous exhibition which is held in Las Vegas – the NAB show -which until now was considered a bigger trade show. The final day is an indicator of a trade show’s success. At the Rai, stands were packed as meetings continued till post lunch and some booths had conversations continuing till as late as 3:30 pm when the exhibition was supposed to close at 4pm on 16 September.

    Amongst the Indian companies which had taken up booths included: Tata Elxsi, Tata Communications, PlanetCast, Magnifi, Amagi, Canara Lighting, Ali Corp, Tabsons, UTO Solutions, Prime Focus Technologies, Workflow Labs, and Magnaquest.

    The aisles were bustling with Indians as systems integrators, distributors, resellers, technology executives, engineers scoured the booths to get abreast of the latest in solutions. Techies from Disney Star India, Whistling Woods, Sun TV, Zee5, GTPL Hatway, Hathway, Prasar Bharti, Hoichoi, Jio Platforms, NDTV, among many others kept busy over the duration of the exhibition.

    With the  rise of streaming, mergers and acquisitions amongst media majors, cord cutting continuing, explosion in free to air, automation of work processes, the uptake of generative AI and AI as a whole, increase in adoption of the cloud, Indian industry is grappling with which way they should direct their investments in tech so that they can get an efficient return on their investments and be future ready as well. Hence, the rush to tech shows such as IBC.