ITV

Tag: fourth quarter

  • Dish TV India reports operating revenue of Rs 2802.5 crore for FY22

    Dish TV India reports operating revenue of Rs 2802.5 crore for FY22

    Mumbai: Dish TV India has reported its results for the fourth quarter and the financial year ended on 31 March 2022. The company reported operating revenue of Rs 2,802.5 crore for the financial year and Rs 642.7 crore for the fourth quarter.

    Subscription revenues stood at Rs 2,531.1 crore for the year and Rs 574.8 crore for the quarter. Profit before exceptional items and tax stood at Rs 272.7 crore for the year and Rs 41.8 crore for the quarter.

    The exceptional items for the quarter and fiscal year 2021-2022 include Rs 203.0 crore as an impairment charge on intangible assets under development and related advances Rs 1,616.9 crore and Rs 717.7 crore respectively, as an impairment charge on the goodwill and intangible assets acquired from Videocon d2h in 2017-18 and Rs 116.3 crore recognised as foreign exchange fluctuation loss due to the ongoing economic crisis in Sri Lanka.

    The company continued to deleverage its balance sheet for the fourth year in a row and paid off Rs 434.3 crore during the year thus reducing its overall debt to Rs 375.6 crore at the end of fiscal 2022 as compared to fiscal 2021, which was at Rs 809.9 crore.

    The company reported a loss after including exceptional items and tax of Rs 1,867.23 crore for the year and Rs 2,031.99 crore for the quarter.

    Management analysis

    As per the management analysis, the fourth quarter and fiscal 2022 saw the expansion of the viewers’ slate of content. The company offers over 850 plus channels in the linear space and 40 odd big & small OTT platforms offering movies, TV shows and web series. The time spent watching content per user per day went up to 4.5 hours compared to 3.6 hours in 2018.

    Businesses across sectors in distribution or content are facing reducing customer stickiness, falling subscriber numbers and a perpetual capex (capital expenditure) cycle.

    The direct-to-home (DTH) industry in India has been running the capital expenditure treadmill to increase the number of paying subscribers but, competition from streaming platforms, free-to-air government-run distribution platforms, telcos, cable TV and intermittent undercutting within the industry itself, has been either churning subscribers or intensifying capex or both, said the statement.

    Dish TV India recorded 3.4 per cent higher new additions during the year but remained vulnerable to shifting viewing habits which continued to influence the recharge behaviour of its subscribers. The quarter also witnessed lingering effects of the pandemic related weakness in consumer sentiment with global geo-political developments and resultant inflationary spikes worsening buyer confidence. High churn resulted in a net reduction in the subscriber base during the quarter.

    Dish TV India group CEO and executive director Anil Dua said, “Pay-TV consumer sentiment has been oscillating between indulging in content to sometimes being frugal with it. Consumers have been choosier than ever, often moving between linear and streaming content, as a result renewing their subscriptions less regularly. Dish TV values customers’ changing tastes and preferences and is working towards adapting to and leveraging these emerging trends.”

    Dish TV India’s OTT platform Watcho crossed the 50 million downloads mark at the end of the quarter increasing its presence by 25 million during the year.

    “These are challenging yet exciting times and we are reviewing everything that has existed for years. We are actively looking beyond our contemporary offerings of hybrid boxes and OTT platform Watcho, and are working towards new ways to serve our valued subscribers, both existing as well as new,” he added.

    Dish TV India chairman and managing director Jawaher Goel said, “Competition is always good for the growth of any industry, what is important though is that there should be a level playing field. Pay channel procurement which is subject to strict regulations for the pay-TV sector is under forbearance when it comes to broadcaster owned channels being streamed on their own OTT platforms. This is despite cross-holding restrictions that prevent broadcasters from getting into distribution. Moreover, within pay-TV, DTH is the only business which is subject to a license fee payable to the government. As we work towards keeping up with the times, we also hope that a common licensing regime and forbearance over excessive regulation will be the norm going forward.”

  • ViacomCBS rebrands to Paramount; unveils global expansion plans for Paramount+

    ViacomCBS rebrands to Paramount; unveils global expansion plans for Paramount+

    Mumbai: ViacomCBS has announced that it will rebrand to become Paramount Global effective from 16 February.

    In addition to the name change, the media company has detailed plans to accelerate the global momentum behind Paramount+, unveiling new content, enhanced product offerings and continued international expansion at its investor event.

    “Paramount is an idea: A promise to be the best,” said the non-executive chair of the company’s board of directors Shari Redstone. “That promise has always been at the center of what we aspired to build as the steward of more than a century of cinematic excellence, and with businesses and brands that have defined and redefined entertainment for generation after generation. We have made enormous progress, and I have never been more excited about the future of this company.

     

     

    Paramount+ will make its debut in France as an exclusive bundle with CANAL+ Group giving subscribers immediate access through the country’s largest provider. Paramount+ will also be available on an a la carte and direct-to-consumer basis in the French market.

    With Paramount+ and SkyShowtime, the global media company will have streaming services available in more than 60 markets across the UK, Latin America, Canada, Australia, South Korea, the Caribbean and all major markets in Europe by the end of this year. In 2023, the company will look to Asia, Africa and the Middle East, building on Paramount+’s strong momentum to grow its presence in every region of the world.

    Additionally, Paramount+ subscribers in the US will be able to upgrade their subscription to a bundle that includes the Showtime service through two plans, starting in summer.

    The company added 9.4 million global streaming subscribers in the fourth quarter of 2021 led by Paramount+ to add up to 56 million total subscribers and 84 per cent growth in streaming subscription revenue. Its streaming revenues for the quarter stood at $1.3 billion a growth of 48 per cent year-on-year. Its streaming revenue for 12 months ended on 31 December 2021 stood at $4.19 billion.

    “Paramount’s iconic peak represents a rich history for our company as pioneers in the golden age of Hollywood. Today, as we embrace the Paramount name, we are pioneers of an exciting new future,” said president and chief executive officer Bob Bakish.

    “We see a huge global opportunity in streaming, a much larger potential market than can be captured by linear TV and film alone,” continued Bakish. “We’re excited about our ability to not just compete, but thrive, creating significant value for both consumers and shareholders. How? Because we’re broader in four key areas: our diverse content, streaming model, a mix of platforms and global reach. As we look forward, the size of the opportunity we see is matched only by our ambition to seize it.”

    “We are continuing to leverage our global footprint and long-standing relationships to expand Paramount+ into new markets with enormous potential quickly and economically,” commented president and CEO streaming Tom Ryan.

  • Amazon hikes Prime membership fees in US

    Amazon hikes Prime membership fees in US

    Mumbai: Amazon has hiked the subscription fees for Prime membership in the US. The announcement was made during the fourth quarter financial results for 2021 held on Thursday.  The company has raised annual prices from $119 to $139 and monthly prices from $12.99 to $14.99. 

    This is Amazon’s first price increase in four years and will go into effect on 18 February. However, the hike does not apply to the Amazon standalone Prime Video option that continues to be offered at $8.99 per month. Recently, the company hiked Prime membership fees in India from Rs 999 to Rs 1499.

    When asked whether the company intends to hike prices in other markets, Amazon chief financial officer Brian Olsavsky replied, “We look at the relative price to the customer versus our cost to supply that and the usage and the value that we’re creating for customers. We felt, especially after not raising the price in the United States since 2018 that the time was right to raise it. And we think it’s a much more valuable program today than it was in 2020, let alone 2018. So, other countries, we’ll continue to evaluate every year and nothing else to announce right now.”

    In April 2021, Amazon shared that it had about 200 million Prime members worldwide. While in the fourth quarter, the management team at the company did not share an updated guidance on the number of prime users, Olsavsky said, “On the consumer side, we welcomed millions of new Prime members in both the United States and international during the quarter, while continuing to see consistently high member renewal rates across geographies.”

    Amazon has tripled its original releases since 2018 and will release its anticipated series ‘The Lord of The Rings: The Rings of Power’ series in September this year. Prime Video debuted 28 local originals internationally including India in the fourth quarter. The OTT platform also saw its strongest viewership for live sports globally during the quarter. Notably, Prime Video made its foray into live sports in India by streaming cricket matches between New Zealand and Bangladesh in the fourth quarter.

  • HUL Q4: Net profit up 41%; health, hygiene & nutrition portfolios drive growth

    HUL Q4: Net profit up 41%; health, hygiene & nutrition portfolios drive growth

    NEW DELHI: FMCG major Hindustan Unilever (HUL) reported a good set of numbers on all fronts for the quarter ending 31 March 2021. Beating market estimates by a significant margin, net profit surged 41 per cent to Rs 2,143 crore on the back of a solid 16 per cent volume growth.

    Revenue grew by 34.6 per cent year-on-year to Rs 12,132 crore during Q4. Domestic consumer growth was at 21 per cent.

    For the fiscal 2020-21, the consumer goods company said its consolidated net profit was at Rs 7,999 crore, as compared to Rs 6,756 crore in 2019-20, a growth of 18 per cent. Consolidated total income for FY21 was at Rs 47,438 crore, as against Rs 40,415 crore in FY20.

    Health, hygiene and nutrition, which makes up 80 per cent of business, grew in double-digits for the third consecutive quarter, while discretionary and out-of-home categories improved sequentially, the company said.

    Home care growth at 15 per cent was enabled by a strong recovery in fabric wash. Household care continued its strong performance delivering double-digit growth. Liquids and fabric sensations continued to outperform, benefitting from robust market development initiatives, stated HUL.

    “Our in-quarter performance was strong on both the top-line and bottom-line. Despite challenging times, in FY21 our business ecosystem has withstood the disruption and demonstrated agility and resilience across the value chain,” said HUL chairman & MD Sanjiv Mehta. “We have delivered on our multi stakeholder business model. Our purpose-led brands and capabilities were further strengthened during the year and this positions us well to serve our consumers during this turbulent period.”

    The company’s focus will firmly remain behind delivering volume led competitive growth, he added.

    Mehta went on to say that the recent surge in Covid cases is of serious concern and “ensuring safety and well-being of people remains our top priority”.