Tag: Essel Group

  • Q3-2016: Zee Learn YoY revenue up 12.4 percent; PAT doubles

    Q3-2016: Zee Learn YoY revenue up 12.4 percent; PAT doubles

    BENGALURU: The Essel group’s education company Zee Learn Limited (Zee Learn) reported 12.4 percent higher YoY Total Income from Operations (TIO, revenue) in the quarter ended December 31, 2015 (Q3-2016,current quarter) at Rs 22.29 crore as compared to Rs 19.84 crore , but was 27.4 percent lower QoQ than Rs 30.70 crore.

     

    Note: 100,00,000 = 100 Lakhs = 10 million = 1 crore

     

    The company’s Profit after tax (PAT) in the current quarter more than doubled YoY (up 2.07 times) at Rs 2.27 crore (10.2 percent margin) as compared to Rs 1.09 crore (5.5 percent margin) and was 2.1 times higher QoQ as compared  to Rs 1.08 crore.

     

    Let us look at the other numbers reported by Zee Learn

     

    Zee Learn’s Total expenditure (TE) in Q3-2016 at Rs 17.20 crore (77.2 percent of TIO) was 1.7 percent higher YoY as compared to Rs 16.91 crore (85.2 percent of TIO), but was 3.49 percent klowerr QoQ as compared to Rs 25.43 crore (86.1 percent of TIO).

     

    Employee Benefit Expense (EBE) in Q3-2016 at Rs 5.99 crore (26.9 percent of TIO) was 5.4 percent as compared to Rs 6.33 crore (31.9 percent of TIO) and was 17.4 percent lower QoQ as compared to Rs 7.25 crore.

     

    In Q3-2016, Zee Learn’s operating cost at Rs 0.64 crore (2.9 percent of IO) was 14.6 percent lower YoY as compared to Rs 0.75 crore (3.8 percent of TIO) and was 24.2 percent lower as compared to Rs 0.85 crore (2.8 percent of TIO).

     

    The company’s marketing, advertisement and publicity expense (marketing expense) for Q3-2016 at Rs 0.58 crore (2.6 percent of TIO) was 58.5 percent lower YoY than the Rs 1.40 crore (7.1 percent of TIO) and was 67.4 percent lower QoQ as compared to Rs 1.78 crore (5.8 percent of TIO) in the immediate trailing quarter.

     

    Other expense in Q3-2016 at Rs 6.07 crore (27.3 percent of TIO) was 40.9 percent more YoY as compared to Rs 4.31 crore (21.7 percent of TIO) and was 18.6 percent lower QoQ as compared to Rs 7.46 crore (24.3 percent of TIO).

     

    Zee Learn says that on June 28, 2015 a fire occurred in one of the warehouses of the company at Bhiwandi near Mumbai and the inventory of educational material lying at the said warehouse amounting to Rs 1416.61 lakh got completely destroyed. Further, Zee Learn says that it has lodged a claim with the Insurance company for the loss incurred. Pending the settlement of insurance claim, the loss is accounted as ‘Claims Receivables’ under other Current Assets to the extent of the above amount. On settlement of the claim by the Insurance company, the difference in loss claim and actual claim received , if any, will be charged to the Statement of Profit and Loss Account.

  • Gaurav Seth teams up with Suleman Quadri to start Purple Canvas Creation

    Gaurav Seth teams up with Suleman Quadri to start Purple Canvas Creation

    MUMBAI: The speculations are over, ex Sony India senior vice president Gaurav Seth who exited Sony on September after a six and half year stint with the broadcaster has started his own ventures Purple Canvas Creations. He is the Co- founder and partner in the venture. Ex-creative director of Sony Suleman Quadri is the other partner involved in the venture. 

     

    Purple Canvas Creations is a new content creation powerhouse formed by two partners, hungry to create differentiated content across platforms. With it’s first TV series, about to get underway, Purple Canvas Creations aims to quickly establish a toehold in the media eco-system as a content provider both in the commissioned and original space.

     

    “We are currently working on Crime Patrol for Sony, this is our first project. We will also foray into digital in near future” says Seth speaking to Indiantelevision.com.

     

    Seth started his career with ESPN-Star Sports as marketing manager in 1997. After six years in the organisation, he moved to Altavista Inc as country head in 2003, where he was responsible for brand development, website traffic growth and advertising revenue.

     

    In 2004, he moved to join Zee Telefilms (now Zee Entertainment Enterprises Ltd) as vice-president, marketing. At Zee, he took care of the group’s sports brands and business.

     

    Seth then moved on to join Subhash Chandra-led Essel Group new venture Indian Cricket League, India as vice-president in 2007, where he headed the marketing and communications role.

     

    Merely a couple of months after that, he moved on to join Vyas Giannetti Creative Sports as business head in 2008. At the end of 2008, he joined SET India as senior vice-president, marketing for Sony Max.

  • ‘If you can’t take people to theatre, take theatre to people:’ Shailja Kejriwal

    ‘If you can’t take people to theatre, take theatre to people:’ Shailja Kejriwal

    A pioneer in the Indian media and broadcast industry, Zee Entertainment Enterprises Ltd chairman and Essel Group promoter Dr Subhash Chandra has been a major force to reckon with for more than two decades now. With his exemplary vision and forward thinking, he has always been a step ahead in the game.

     

    While over the years, he has consistently demonstrated his ability to identify new businesses and lead them on the path to success; this time round too, Chandra has deftly raised the curtains on something that no one else has done before in India. In a bid to restore theatre’s glory and culture in India and give it its due, Chandra has launched a new vertical called Zee Theatre, which will not only boost the art form in the country but will also make it available across platforms.

     

    It wouldn’t be incorrect to say that television, films, video, satellite and digital’s gain has been theatre’s loss in more ways than one. It was also the lack of facilities, infrastructure, less revenue and diminishing audience, which led to theatres being converted into movie cinema halls. And therein rose theatre artists like Nasseruddin Shah, Om Puri, Shah Rukh Khan, Nawazuddin Siddiqui, Shabana Azmi and their ilk, who then stepped into the film world.

     

    In conversation with Indiantelevision.com, Zeel chief creative – special projects Shailja Kejriwal speaks about the new vertical and the company’s plans ahead.

     

    Excerpts:

     

    Was the idea behind this initiative? Why Zee is showing interest in theatre? 

     

    Zee as a broadcaster has been known for doing new things in cable satellite television. We are constantly trying to create something new for the audience in terms of content. These days the entertainment industry is trying to outsource content from overseas and remake it. We want to change that and look in our own country for content, which has not yet been used and is ignored.

     

    Firstly, we want to invert the cycle of importing content. Our aim is to show the world the rich traditional culture of India. Secondly, while earlier people had to travel to see and enjoy theatre, now they can watch it on the internet, mobile, DTH, television, in-flight as well as at screenings in multiplexes. If they want to watch it live, they have also the option of watching the live shows that we will be doing.

     

    Our idea is to take theatre to the maximum number of people so that everybody can enjoy the content.

     

    What kind of content will Zee Theatre focus on?

     

    We will be starting with India first. We have a very rich culture in theatre with plays in multiple languages like Marathi, Gujarati, Bengali etc. With over 5000 year old traditions of Natya Shashtra, India has numerous plays right from Kalidasa to absolutely modern plays. 

     

    Our focus will be on Indian plays first and then of course later we will open up to the rest of the world. In the beginning, we want to offer all kind of theatre content to our audiences and later we will be looking at some plays, which we can adapt in Hindi. We have classic plays like Hamida Bai Ki Kothi and Sandhya Chhaya, as well as musicals like Piya Behrupiya to modern ones like 30 Days of September.

     

    Will plays be adapted from other languages?

     

    Yes, absolutely! We are doing the production from the ground. We are going to take the script and translate it to Hindi, then we will cast for it, rehearse, do the whole production and then we will film it. That is the reason why we are ready to do live theatre as well as film theatre. We’ve started to make plays in Hindi first and then they can be subtitled and dubbed in all parts of the world.

     

    How is the response from founder sponsors and advertisers?

     

    Everybody is very positive and quite excited about the initiative. It is a new kind of content. We need to see more content, which is based in India. It boils down to the question of how long the audience will see the same kind of song and dance, chat shows and stand-up comedy. It has to change. It’s about time that the audience got something new apart from film and television. 

     

    Theatre has new genre of content; it has new kinds of stories, which have not been told before on films and television. Plays have relevant social messages and genres include comedy, news, musicals, tragedy, psychological thriller, fillers and more. So, advertisers are showing good interest for this project. We will be rolling out in early 2016 and will collaborate with sponsors then but as of now, brands that we have spoken to, have evinced interest.

     

    So far, Indian theatre has been under indexed and under pushed. Are you going to raise the bar for theatre production in India?

     

    Yes, that is exactly the reason why we ventured into this area. With our investment in theatre, we want to make grand sets and beautiful costumes. The biggest names in theatre are working with us and guiding us on how theatre works.

     

    For each play, we have two directors – a filming director and a theatre director. We are following the process involved in a film production so we will have a casting director, costume designer, set designer and every aspect to make it grand and raise the production quality. I believe audience will be happy to see a marked change in visual production quality.

     

    Is Zee Theatre looking at starting any festival of theatre plays?

     

    Yes, we are planning to start festivals for plays. We will be doing these on-ground and on-air too. Gradually we will be doing live theatre festivals as well as on cinema screens. Right now, we just want to make our intention in the space known and in 2016 we want to release it out on digital, cinemas, live and broadcast and take it forward.

     

    International theatre companies provide world class production quality. What are the new innovations you will be investing in for bringing in advanced technology and better quality production?

     

    We have a very skilled set of people who will be ideating on how to raise the bar for theatre in India. We have our crew from the movie business comprising sound recorders, set designers and fashion designers. On the other hand, most of our casting directors and actors have theatre as well as film background.

     

    Names like Uttara Baokar, who will be seen on television after 20 years is associated with us. We have theatre doyennesses like Mahasweta Devi, Dr Vijaya Mehta and Ranjeet Kapoor on board with us. Dr Mehta is a noted Indian film and theatre director, who will be directing a play after 1993.

     

    We sit with these stalwarts along with designers, light designers and everyone else involved while producing the plays. It has been very challenging because it is a new thing that we are trying to do.

     

    How will the production logistics work? Will you be working with other production houses?

     

    For now we are co-producing all the plays. We have people who will produce with us but as producers, we will take it forward.

     

    We are working with people who are from theatre and those who produce theatre, along with a set of expertise from television, for example people like Mukud Upadhayay and Romanchak Arora.

     

    A motley bunch of creative talent from television, theatre and films like cinematographers, editors and music directors have come together to make it possible.

     

    Who will own the play and script rights that are produced under Zee Theatre?

     

    We are going to take scripts from the biggest names in theatre from all parts of India and translate them it in Hindi for the production. We have acquired play rights from the likes of Vijay Tendulkar, Jaywant Dalvi, and Mahasweta Devi amongst others.

     

    Disney recently brought Broadway to India with superior quality production. Are there any plans to bring production from abroad?

     

    We want to take our culture abroad. Personally I don’t understand why we have to constantly look abroad to bring content here. Why can’t we take our content overseas? Our prime focus is on how we can take our content abroad. We do have a huge audience for theatre abroad, so why shouldn’t we take classics like Abhigyan Shakuntalam abroad? Our culture and theatre should go abroad rather than getting their content here.

     

    Are there any deals in place with any of the platforms – online, flights, cable etc?

     

    The advantage for us is that we are available across all the platforms in any case. That’s the advantage of being a multi-media broadcaster. So whether it’s cinema, online or broadcast, we can do it on our own platform.

     

    Additionally, to syndicate and distribute the content, we have offices around the world. The plays will be subtitled, dubbed and then showcased.

     

    As of now we have not struck any deals because we have just announced our intention. The process will start soon and by next year, we will have a list.

     

    Zee Theatre plans to have 100 productions over a span of three years. How will the releases span out? When we see the first production going live?

     

    We will be rolling it out next year. Since our intention is to make the plays available across all platforms namely digital, cinema, television and theatre, we are looking at early 2016. 

     

    We have stories on varied topics like internet romance, old parent left alone by their children and girl child abuse. These are very relevant plays that are about subjects in society, which is not usually discussed in cinema or on television. These subjects need to be discussed in an entertaining way and with good story telling. We want to have social relevance through entertainment.

     

    Will you also be looking at promoting street plays and outdoor plays with Zee Theatre? Will it include college theatre? 

     

    We have 15 plays right now, which are under various stages of production. We are very proud that we were able to manage 15 productions; it’s like having 15 films with two hour content each. Working with such scale is quite challenging. Our plan is to do 100 productions over three years and we will be experimenting all sorts of things but one after the other. Then we will focus on the outdoors. Yes, we are planning to take it to schools and colleges too; the youth needs to see it. We are tying up with schools and universities to keep screenings for them.

     

    Will there be programming on theatre plays? For example; talk shows and behind the scenes programs.

     

    We want to make people see the process in terms of what happens behind the scenes. We have interviewed directors, actors, set designers and will do programs capturing the process. We have also shot the rehearsals, where directors are talking about the play and how it works in the theatre production. The material is being prepared, which will definitely  be shared with the audience through programs.

     

    What kind of audience are you targeting in India? Will you be looking at the South market too?

     

    The content we have created is for everyone as the issues are very social and people can relate to them. We have selected topics, which are universal in nature. I believe this will be new form of entertainment; people are a bit tired of seeing the same kind of shows on all channels. As there is less variety in terms of content, it will give them a choice.

     

    I think people will welcome this change and it will give entertainment an alternative. Theatre needs to become a viable option. It should come out as refreshing change like we did with Zindagi. People are ready to accept fresh content and that too which is from their own country. While it won’t be very easy for the audience to accept it but theatre will grow on them and the audience will become habitual to it as they did to daily soaps and comedy shows.

     

    Is Zee Theatre a cultural move or a commercial move? Are you planning to monetise it aggressively?

     

    These cannot be separated from each other. There’s no cost for revising our tradition and culture. We have to take it to our future generation. We invested in whatever was required.

     

    Firstly, we want to create good content for our viewers, but then great content can get commercialised. The audience should enjoy the content first. We are trying to reach out to more people. We are not in a hurry. Our aim is to let the culture flourish and it will become great archival material sometime in the near future.

     

    There are limited quality theatre halls in Mumbai like NCPA and Prithvi. Will Zee be investing in building infrastructure for theatre halls and auditoriums too?

     

    Bombay still has infrastructure for theatre but to do live theatre, it needs certain amount of investment for good quality. For more investment, people need to get the investment back to make more plays. Because of the legacy of theatre in Maharashtra, we have theatres in Pune also. But as cinema came in, all the theatres were converted into movie theatres.

     

    The vision and aim behind starting this initiative was that if we can’t take people to the theatre, then let’s take theatre to people. We will give people an option of watching quality plays from the comfort of their homes as well as theatres. 

     

    We do plan to invest in the infrastructure but that will depend on the reaction and reach this initiative gets.

     

    Mumbai’s Prithvi Theatre has a legacy like no other and is one of the most recognized players in the space. Are there any plans to collaborate?

     

    We are ready to collaborate with anyone who is ready to collaborate with us. We want to reach to the audience in all parts of the country. Our main focus was to finish the productions first. After that, we will get out in the market and collaborate with whoever is interested.

  • Q2-2016: Zee Learn YoY revenue up 34.9% at Rs 30.70 crore

    Q2-2016: Zee Learn YoY revenue up 34.9% at Rs 30.70 crore

    BENGALURU: The Essel Group’s education company Zee Learn Limited (Zee Learn) reported 34.9 per cent higher Total Income from Operations (TIO, revenue) in the quarter ended 30 September, 2015 (Q2-2016, current quarter) at Rs 30.70 crore as compared to the Rs 22.76 crore in Q2-2015. Q2-2016 TIO was however 14.2 per cent lower than the Rs 35.79 crore in Q1-2016.

     

    Note: 100,00,000 = 100 Lakhs = 10 million = 1 crore

     

    The company’s marketing, advertisement and publicity expense (marketing expense) for Q2-2016 at Rs 1.78 crore (5.8 per cent of TIO) was 13.2 per cent more than the Rs 1.58 crore (6.9 per cent of TIO) in Q2-2016. Marketing expense in the current quarter was 61.9 per cent lower than the Rs 4.68 crore (13.1 per cent of TIO) in the immediate trailing quarter.

     

    Let’s look at the other numbers reported by Zee Learn:

     

    The company’s Profit After Tax (PAT) declined 5.6 per cent to Rs 1.08 crore (3.5 per cent margin) from Rs 1.14 crore (five per cent margin) and declined by 72.8 per cent from Rs 3.96 crore (11.1 per cent margin) in Q1-2016.

     

    Zee Learn’s Total expenditure (TE) in Q2-2016 at Rs 25.43 crore (86.1 per cent of TIO) was 37.8 per cent more than the Rs 19.18 crore (84.3 per cent of TIO) in Q2-2015 but was 9.3 per cent lower than the Rs Rs 29.14 crore (81.4 per cent of TIO) in Q1-2016.

     

    Employee Benefit Expense (EBE) in Q2-2016 at Rs 7.25 crore (23.6 per cent of TIO) was 24.2 per cent higher than the Rs 5.84 crore (25.7 per cent of TIO) in Q2-2015 and was 17.5 per cent more than the Rs 6.17 crore (17.2 per cent of TIO) in Q1-2016.

     

    In Q2-2016, Zee Learn’s operating cost at Rs 0.85 crore (2.8 per cent of TIO) was 65.8 per cent more than the Rs 0.51 crore (2.2 per cent of TIO) in the corresponding year ago quarter and was 52.7 per cent more than the Rs 0.56 crore (1.6 per cent of TIO) in Q1-2016.

     

    Other expense in Q2-2016 at Rs 7.46 crore (24.3 per cent of TIO) was 36 per cent more than the Rs 5.49 crore (24.1 per cent of TIO) but was three per cent lower than the Rs 7.69 crore (21.5 per cent of TIO) in Q1-2016.

     

    Zee Learn says that on 28 June, 2015 a fire occurred in one of the warehouses of the company at Bhiwandi near Mumbai and the inventory of educational material lying at the said warehouse amounting to Rs 1416.61 lakh got completely destroyed. Further, Zee Learn says that it has lodged a claim with the insurance company for the loss incurred. Pending the settlement of insurance claim, the loss is accounted as ‘Claims Receivables’ under other Current Assets to the extent of the above amount. On settlement of the claim by the insurance company, the difference in loss claim and actual claim received, if any, will be charged to the Statement of Profit and Loss Account.

  • Q2-2016: Dish TV PAT at Rs 87 crore; adds 3.38 lakh subscribers

    Q2-2016: Dish TV PAT at Rs 87 crore; adds 3.38 lakh subscribers

    BENGALURU: This is the third consecutive quarter that direct to home (DTH) company Dish TV has reported growth across important financial and operational parameters including operating revenues (TIO), profit after tax (PAT) and subscription numbers.

     

    Last fiscal and quarter (year and quarter ended 31 March, 2015, Q4-2015), the Subhash Chandra led Essel Group’s DTH operator Dish TV Limited turned the corner with a consolidated profit after tax (PAT) of Rs 3.14 crore and Rs 34.94 crore (margin 4.8 per cent) respectively. The company followed this up with even better numbers in the previous quarter (Q1-2015). Dish TV was the first among listed DTH companies in the country in FY-2015 and Q4-2015 to report PAT as opposed to the operating profits reported by a segment of the other Goliaths for whom DTH services is just another small segment.

     

    Note:

    (1)100,00,000 = 100 Lakh = 10 million = 1 crore

    (2) With effect from April 1, 2015, Dish TV says that it has started netting-off certain collection fees paid to its trade partners from its topline. This has resulted in the company’s topline getting shrunk by around four per cent, with a similar number being decreased from the middle line. The values for the prior comparative periods have also been recast to reflect the same.

    (3) Dish TV recently transferred its non-core business (including set-top boxes, dish antenna and related services) to its wholly owned subsidiary Dish Infra Services Private Limited (formerly known as Xingmedia Distribution Private Limited) on 1 April, 2015 on a going concern basis.

     

    For the current quarter ended 30 September, 2015 (Q2-2015), Dish TV has reported Operating revenue of Rs 752.42 crore, hence registering a 15.8 per cent YoY growth as compared to Q2-2015’s number of Rs 649.90 crore and a 2.1 per cent QoQ growth as compared to Rs 736.68 crore.

     

    The company reported PAT of Rs 86.96 crore (11.6 per cent margin) for the current quarter as compared to a loss of Rs 14.2 crore in the corresponding year ago quarter and a whopping 60.4 per cent growth in profit as compared to the Rs 54.21 crore (7.4 per cent margin) in the previous quarter.

     

    The company’s subscriber base in Q2-2016 increased by 3.38 lakh to touch 137 lakh as compared to the 133 lakh reported at the end of the previous quarter (Q1-2016).

     

    Dish TV reported a YoY growth in Average Revenue Per User (ARPU) to Rs  171 as compared to the Rs 166, but a QoQ decline from Rs 173 in the previous quarter.

     

    Dish TV chairman Subhash Chandra said, “Dish TV further reinforced its leadership position during the quarter. The company, while being at the forefront of the DTH industry in India, reached out to television viewers with innovative products that promise to enhance their television viewing experience. Dish TV’s improving financial strength coupled with its passion to be ahead of the curve, should be an advantage to further enhance its presence in the vast and still untapped analogue and free-to-air television markets in the country.”

     

    Let’s look at the other numbers reported by Dish TV

     

    Dish TV’s total expenditure in Q2-2016 at Rs 630.44 crore (83.8 per cent of TIO) declined 1.5 per cent as compared to the Rs 639.90 crore (98.5 per cent of TIO) in Q2-2015 and declined 4.4 per cent as compared to the Rs 659.69 crore (89.5 per cent of TIO) in Q1-2016.

     

    A major expense head is content cost comprising programming, content and other costs. In Q2-2016 content cost at Rs 203.54 crore (27.1 per cent of TIO) was 17.1 per cent more than the Rs25.27 crore (29.7 per cent of TIO), but was 14.7 per cent lower than the Rs 212.01 crore (28.8 per cent of TIO) in the previous quarter.

     

    Employee Benefit Expense (EBE) in Q2-2016 at Rs 29.58 crore (3.9 per cent of TIO) increased 17.1 per cent as compared to the Rs 25.27 crore (3.9 per cent of TIO) in Q2-2015, but declined 14.7 per cent as compared to the 34.67 crore (4.7 per cent of TIO) in Q1-2016.

     

    Dish TV’s selling and distribution expense in Q2-2016 declined 26.1 per cent to Rs 68.09 crore (nine per cent of TIO) as compared to the Rs 92.09 crore (14.2 per cent of TIO) in the corresponding year ago quarter, but was 2.6 per cent more than the Rs 66.34 crore (nine per cent of TIO) in the immediate trailing quarter.

     

    Dish TV managing director Jawahar Goel said, “Dish TV continued to actively contribute to the ‘Digital India’ movement by digitising analog TV homes in DAS phase 3 & 4 markets. A unique product mix and a strong brand recall enabled us to add a healthy 338 thousand net subscribers in a seasonally weak quarter. Our regional offering ‘Zing’ is now available across eight states and continues to be in high demand in its target markets.”

     

    Goel added, “Sticking to our guiding principle of growth with profitability, we enhanced operational efficiencies in the business and are pleased with an all-time high EBITDA margin of 33.9 per cent recorded during the quarter. We were positive at the net level as well and had a free cash flow of Rs. 84.9 crore. As we move ahead, we stay convinced about our pole position being related to our value for money offering and intend to constantly work on it for long term sustainable growth.”

  • Zee’s Subhash Chandra plans succession; names Amit Goenka as head – international biz

    Zee’s Subhash Chandra plans succession; names Amit Goenka as head – international biz

    MUMBAI: In a bid to steer to company towards the future, Zee Entertainment Enterprises Ltd’s (Zeel) Next Gen is stepping into pivotal roles. While Zeel chairman Subhash Chandra had pulled in his elder son Puneet Goenka into the firm a decade ago, he is now shoring up the senior management by bringing in his younger son Amit Goenka as CEO of Zeel’s international broadcasting business.

     

    Even as Puneet has steered Zeel to greater heights as its managing director and CEO, Amit, who was earlier the non executive chairman of the company, has been entrusted with the responsibility to provide clear focus to the company’s international operations. 

     

    To this effect, Zeel is reorganising its overseas broadcasting operations of all international channels, excluding sports, English channels and uplinking activities, under a wholly owned subsidiary of its company Asia Today Ltd (ATL). Currently, these operations are housed under Zeel’s overseas subsidiaries ATL, Mauritius (being renamed as ATL Media Ltd) and Zee Multimedia Worldwide (Mauritius) Ltd and their respective subsidiaries.

     

    Additionally, Zeel has also got board approval to write-off of an investment of GBP 3.25 million (equivalent to Rs. 33.06 crore) made by ATL, in 2013 for acquiring a minority stake in MirriAD Ltd., UK. This write-off was on account of continuing losses and consequent capital reduction and restructuring in the latter.

     

    “Bringing in Amit is a good move by Chandra as he has successfully been working behind the scenes at the Essel Group on innovations and business development despite heading Playwin as its CEO. He has a good deal of experience under his belt, which should help Zeel achieve Chandra’s global vision for Zee,” says a media observer. “It’s good succession planning by the savvy mediapreneur. And it’s quite akin to what his former partner Rupert Murdoch has done in recent times by bringing in his elder son Lachlan in a non-executive capacity as News Corp co-chairman and 21st Century Fox. His younger son James has been running 21st Century Fox as its CEO much earlier.”

     

    A techie at heart, Amit has more than 10 years experience and is the CEO of Pan India, which runs the online lottery business under the Playwin brand. Some of the other projects where he is involved are ITZ Cash, animation division, wireless mobility, 7575 short code business, Digital Media Convergence Limited, Mumbai Football Club, All Sports Bar and All Sports Magazine amongst others. Amit has also worked with Zee Telefilms and was closely associated with the group’s investment and restructuring of the ICO project, a global mobile telephony project during his early days.

     

    Additionally, Zeel executive vice chairman Subodh Kumar has resigned from his post with immediate effect. He will, however, continue as a non-executive director on the Board of the company.

  • ZMCL forays into English news broadcasting; names Rohit Gandhi as editor-in-chief

    ZMCL forays into English news broadcasting; names Rohit Gandhi as editor-in-chief

    MUMBAI: Zee Media Corporation Limited (ZMCL) has announced its foray into the English news broadcasting space with the appointment of Rohit Gandhi as editor-in-chief of English news broadcast and related content, effective 17 August.

    It may be recalled that Indiantelevision.com was the first to report about the network’s plan to get into English news broadcasting. In an earlier conversation, Essel Group chairman Dr Subhash Chandra had said, “I have been harbouring this thought of starting a global news network in English for the global audience but with an India point of view.”

    Gandhi, who reports to ZEEL MD and CEO Punit Goenka, will be heading the operations of all initiatives in this space, working closely with the business head & revenue resources.

    Goenka said, “Venturing into the English News space allows us to extend our presence in the overall news genre across geographies and even in the international arena. We want to launch a news network for global audiences with an Indian point-of-view. With Rohit on-board to spearhead this initiative, we are confident that we will be able to showcase a world-class product. We welcome Rohit to the Zee family and wish him all the very best.”

    Gandhi added, “It is a phenomenal opportunity for me to work with Zee and Punit to deliver world-class coverage to viewers at home. We want to continue on the path of providing in-depth, textured coverage across platforms to address the ever-changing needs of the global audiences.”

    ZMCL has neither revealed the name of its new English news channel nor its launch date.

    Gandhi brings with him over 23 years of experience across 40 countries and has managed the complete gamut of the news business. In his previous assignment, he was the international correspondent & communication strategist for South Asian International News. Prior to that he worked with CBC, CNN, BCTV & Global TV, Canada, and NDTV. He has also covered many war zones including Afghanistan in 2001 and Iraq in 2003.

  • Q1-2016: Siti Cable broadband revenue up 64%; Operating income up 9%

    Q1-2016: Siti Cable broadband revenue up 64%; Operating income up 9%

    BENGALURU: Subhash Chandra led Essel Group’s Siti Cable Network Limited (Siti Cable) reported operating revenue (total income from operations, or TIO) of Rs 228.09 crore in the quarter ended 30 June, 2015 (Q1-2016), which was 9.1 per cent higher than the Rs 209.02 crore in Q1-2015, but was 10.9 per cent lower QoQ than the Rs 256.01 crore in Q4-2015.

     

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore.

    (2) All numbers in this report are consolidated unless stated otherwise.

     

    Both television and broadband subscription revenue registered YoY growth, broadband reported 63.6 per cent growth at Rs 9 crore in Q1-2016 as compared to the Rs 5.5 crore in the corresponding year ago quarter and was 13.9 per cent more than the Rs 7.9 crore in the immediate trailing quarter.

     

    Subscription revenue in Q1-2016 at Rs 129 crore was 9.1 per cent higher than the Rs 118.2 crore in Q1-2015, but declined 9.4 per cent as compared to the Rs 142.4 crore in Q4-2015. Activation revenue at Rs 10.9 crore in the current quarter was 25.3 per cent lower than the Rs 14.6 crore in Q1-2015 and was 48.3 per cent lower than the Rs 21.1 crore in Q4-2015. Siti Cable says that effective realisation per subscriber remained flat during the current period.

     

    Siti Cable’s cable universe increased by 200,000 digital subscribers to 107 lakh in Q1-2016 from 105 lakh in Q4-2015. Digital subscriber base increased in the current quarter to 55.8 lakh from 53.8 lakh in Q4-2015. Net broadband additions in the current quarter were 4400 – the count went up to 74,500 from 70,100 in the previous quarter (Q4-2015).

     

    Let us look at the other numbers reported by Siti Cable

     

    Siti Cable reported a higher loss of Rs 37.11 crore in Q1-2016 as compared to the loss of Rs 31.67 crore in Q1-2015 and a loss of Rs 34.13 crore in Q4-2015.

     

    EBIDTA including other income for Q1-2016 increased 5.1 per cent to Rs 38.1 crore as compared to the Rs 36.26 crore in Q1-2015 and was 18.7 per cent more than the Rs 32.11 crore in Q4-2015.

     

    Total Expenditure in Q1-2016 increased 12 per cent to Rs 228.21 crore (100.1 per cent of TIO) as compared to the Rs 203.76 crore (97.5 per cent of TIO) in Q1-2015, but was 18.6 per cent lower than the Rs 280.49 crore (109.6 per cent of TIO) in the previous quarter.

     

    Pay channel costs in the current quarter increased 8.1 per cent to Rs 135.70 crore as compared to the Rs 125.55 crore in Q1-2015 but was 13.6 per cent lower than the Rs 156.98 crore in Q4-2015.

     

    Siti Cable’s Finance costs in Q1-2016 increased 11.6 per cent to Rs 33.90 crore as compared to the Rs 30.37 crore in Q1-2015 and were 9.2 per cent more than the Rs 31.05 crore in Q4-2015.

     

    Other expenses increased 13.9 per cent in the current quarter to Rs 43.32 crore as compared to the Rs 38.05 crore in Q1-2015 but were 40.3 per cent lower than the Rs 72.53 crore in Q4-2015.

     

    “Our commitment to improving operational efficiency and streamlining operations continues, leading to EBITDA growth of 18.7 per cent and Margin expansion by 501 bps QoQ,” said Siti Cable executive director and CEO VD Wadhwa.

     

    “We managed to grow our Broadband revenues by 13.4 per cent QoQ and are on track to expand our Broadband operations in new cities. Delays in content availability held back STB seeding, however we are well poised to expand aggressively this quarter. During the quarter we have further tightened our credit control measures and started taking strict actions against defaulting operators, which shall result into improved credit discipline and saving in operating cost,” added Wadhwa.

  • “Sports like Pro Kabaddi League will make India a sports nation:” Dr Subhash Chandra

    “Sports like Pro Kabaddi League will make India a sports nation:” Dr Subhash Chandra

    MUMBAI: Star Sports’ Pro Kabaddi League has found many admirers and amongst them is none other than Essel Group chairman Dr Subhash Chandra.

     

    Speaking about Pro Kabaddi League, Chandra said, “Star Sports is doing a great job and is packaging the sport well. It is sports like these, which will make India a sporting nation and not just a cricket nation.”

     

    When asked if Essel Group was mulling at starting something in the league, he said, “I am sure my sports team would be looking at it.”

     

    The second season of Pro Kabaddi League has picked up, not only in terms of sponsorships, but also viewership. According to the TAM Sports analysis, the sport has seen a 60 per cent growth in viewership as compared to the last season for the first 26 matches.

     

    The League, for the first 26 matches, has bagged 1.24 TVR as compared to 0.77 TVR in the last season. What’s more, Pro Kabaddi League season 2 has seen a 13 per cent growth in its average reach as well. This year it registered 4.45 per cent average reach as compared to 3.92 per cent in the last season.

     

    The Time Spent per Viewer (TSV) has gone up from 15.77 in season 1 to 19.91 in season 2.

     

    It can be noted that while in season one Pro Kabaddi League was being telecast on Star Sports 1, Star Sports 4, Star Gold, Star Sports 3 and Star Sports 2, in the second season, it is being aired on Star Gold, Star Sports 3, Star Sports HD2, Star Sports HD3, Maa Movies, Star Sports 2, Plus Suvarna and Star Pravah, thus giving it a larger reach and visibility.