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Tag: Hathway Cable

  • Mauli Cable and Hathway resolve dispute, TDSAT disposes matter

    Mauli Cable and Hathway resolve dispute, TDSAT disposes matter

    NEW DELHI: The Telecom Disputes Settlement and Appellate Tribunal has disposed of a petition by Mauli Cable Network after it informed the Tribunal that an interconnect agreement had been signed with Hathway Cable and Datacom.

    Mauli Cable counsel Tushar Singh informed the Tribunal on 8 July 2016 that a part of the sum had also been cleared and the balance would be cleared as directed by the Tribunal on 24 June 2016. Counsel Nasir Hussain of Hathway also agreed with the statement.

    The Tribunal had directed Mauli to pay upfront a sum of Rs 15 lakh to when signig a fresh interconnect agreement on 28 June at the office of the latter.

    The vacation bench of Member B B Srivastava in its order had noted that Mauli had not denied the amount of Rs 33,27,944 but that the invoice had been raised only on 6 June 2016.

    The Tribunal had directed that the balance would be paid within four weeks of its order.

    Hathway told the Tribunal that it was providing the signals to Mauli for transmission, thereby answering the question raised by Mauli which had said it was not clear who the agreement was to be signed with.

  • FY-16: Hathway revenue up 13.7 percent, EBIDTA up 51.7 percent

    FY-16: Hathway revenue up 13.7 percent, EBIDTA up 51.7 percent

    BENGALURU: Indian multi system operator (MSO) Hathway Cable and Datacom Limited (Hathway) reported 13.7 per cent growth in Total Income from operations (TIO) and 51.7 percent growth in operating profits (EBIDTA) for the fiscal ended 31 March 2016 (FY-16, current year). The company reported TIO of Rs 2,081.63 crore in FY-16 as compared to Rs 1,831.60 crore in the previous year. The company’s EBDITA in the current year was Rs 388.69 crore (18.7 percent EBIDTA margin) and was Rs 256.16 crore (14 percent EBIDTA margin) in the previous year. The company narrowed its loss in the current year to Rs 163.13 crore in FY-16 from a loss of Rs 180.45 crore in FY-16.

    High growth in Activation fees and Broadband revenue are chiefly responsible for the improved performance.

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR).The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    The company’s broadband segment has been performing very well, as a matter of fact, among the national level MSOs’ Hathway has the highest subscription and revenue numbers among all of them. Hathway says that it has invested Rs 206 crore into its Broadband business in FY-16.

    Hathway’s consolidated broadband subscribers increased 38 percent in FY16 to 6.272 lakh from 4.558 lakh in FY-15. Consolidated broadband revenue in the current year increased 61 percent to Rs 399.3 crore from Rs 247.5 crore in the previous year. Broadband ARPU in the current year increased to Rs 670 from Rs 530 in the previous year.

    Consolidated reported CATV subscription revenue in the current year declined 3.3 percent to Rs 812.7 crore from Rs 840.3 crore in FY-15.

    The company says that it deployed 22 lakh set top boxes in FY-16, 10 lakh of them in the last quarter of FY-16, and it has 1.06 crore CATV digital subscriber’s (87 percent of its subscriber base of 1.23 crore). Its DAS phase I area standalone Average Revenue Per User (ARPU) in the quarter ended 31 March 2016 (Q4-16, current quarter) increased to Rs 105 from Rs 100 in Q4-15. Its standalone DAS phase II area ARPU in Q4-16 increased to Rs 86 from Rs 67 in the corresponding year ago quarter.

    Placement revenue in the current year declined 4 percent to Rs 598.8 crore from Rs 626.9 crore in the previous year.

    Activation revenue almost tripled (2.8 times) in FY-16 to Rs 227.9 crore from Rs 82.4 crore in FY-15.

    Other revenue increased 24 percent in FY-15 to Rs 42.9 crore from Rs 34.6 in the previous year.

    Hathway’s Total Expenditure in FY-16 increased 8.9 percent to Rs 2,072.56 crore (99.6 percent of TIO) from Rs 1,903.38 crore (103.9 percent of TIO) in the previous year.

    Pay channel cost in the current year increased 1 percent to Rs 821.65 crore (39.5 percent of TIO) from Rs 813.13 crore (44.4 percent of TIO) in FY-15.

  • FY-16: Hathway revenue up 13.7 percent, EBIDTA up 51.7 percent

    FY-16: Hathway revenue up 13.7 percent, EBIDTA up 51.7 percent

    BENGALURU: Indian multi system operator (MSO) Hathway Cable and Datacom Limited (Hathway) reported 13.7 per cent growth in Total Income from operations (TIO) and 51.7 percent growth in operating profits (EBIDTA) for the fiscal ended 31 March 2016 (FY-16, current year). The company reported TIO of Rs 2,081.63 crore in FY-16 as compared to Rs 1,831.60 crore in the previous year. The company’s EBDITA in the current year was Rs 388.69 crore (18.7 percent EBIDTA margin) and was Rs 256.16 crore (14 percent EBIDTA margin) in the previous year. The company narrowed its loss in the current year to Rs 163.13 crore in FY-16 from a loss of Rs 180.45 crore in FY-16.

    High growth in Activation fees and Broadband revenue are chiefly responsible for the improved performance.

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR).The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    The company’s broadband segment has been performing very well, as a matter of fact, among the national level MSOs’ Hathway has the highest subscription and revenue numbers among all of them. Hathway says that it has invested Rs 206 crore into its Broadband business in FY-16.

    Hathway’s consolidated broadband subscribers increased 38 percent in FY16 to 6.272 lakh from 4.558 lakh in FY-15. Consolidated broadband revenue in the current year increased 61 percent to Rs 399.3 crore from Rs 247.5 crore in the previous year. Broadband ARPU in the current year increased to Rs 670 from Rs 530 in the previous year.

    Consolidated reported CATV subscription revenue in the current year declined 3.3 percent to Rs 812.7 crore from Rs 840.3 crore in FY-15.

    The company says that it deployed 22 lakh set top boxes in FY-16, 10 lakh of them in the last quarter of FY-16, and it has 1.06 crore CATV digital subscriber’s (87 percent of its subscriber base of 1.23 crore). Its DAS phase I area standalone Average Revenue Per User (ARPU) in the quarter ended 31 March 2016 (Q4-16, current quarter) increased to Rs 105 from Rs 100 in Q4-15. Its standalone DAS phase II area ARPU in Q4-16 increased to Rs 86 from Rs 67 in the corresponding year ago quarter.

    Placement revenue in the current year declined 4 percent to Rs 598.8 crore from Rs 626.9 crore in the previous year.

    Activation revenue almost tripled (2.8 times) in FY-16 to Rs 227.9 crore from Rs 82.4 crore in FY-15.

    Other revenue increased 24 percent in FY-15 to Rs 42.9 crore from Rs 34.6 in the previous year.

    Hathway’s Total Expenditure in FY-16 increased 8.9 percent to Rs 2,072.56 crore (99.6 percent of TIO) from Rs 1,903.38 crore (103.9 percent of TIO) in the previous year.

    Pay channel cost in the current year increased 1 percent to Rs 821.65 crore (39.5 percent of TIO) from Rs 813.13 crore (44.4 percent of TIO) in FY-15.

  • Mukesh Ambani 20 billion investment plans in television and telecom

    Mukesh Ambani 20 billion investment plans in television and telecom

    MUMBAI: Mukesh Ambani’s recent focus in the telecom sector hasn’t gone unnoticed, where he has spent at least $18 billion ($1,800 crore) on 4G telecom brand RJio. Industry insiders observe that Mukesh Ambani’s aggressive take on the telecom and television sector may also pit him against his brother Anil Ambani and his company.

    Now reports are out that he intends to spend another $2 billion ($200 crore) over three years to capture TV sets as he eyes an opportunity to use his financial clout in what is a highly fragmented sector.  To put matters into perspective, Mukesh Ambani’s television unit has been aggressively signing up deals with hundreds of small players in a street-by-street effort to root out any final hurdle in its cable TV drive, reported Reuters.

    Industry observers note that this could also snap up rival operators as part of that push, those sources and analysts said, driving tie-ups in a crowded sector that includes Hathway Cable, Den Networks and Siti Cable.

    Industry sources quoting un-named Reliance officials say that Reliance’s mid-year goal of 1 million (10 lakh) subscribers would rise to 5 million (50 lakh) homes in the medium-term. Within three years, the aim is 20 million (2 crore).

    With only 20 million (2 crore) homes in India having a broadband or another Internet connection, it goes without saying that there is a huge growth potential in a country with a population of some 1.3 billion (130 crore).

    “Once the company manages to crack the last mile… it will be a formidable player,” Den Satellite Network MD Rajev Gavi shared with Reuters.

    Reliance executives say it will offer a bundled package with hundreds of channels and video-on-demand in high definition, along with broadband Internet, a landline phone and home surveillance. It will also offer Jio Play, its version of the Netflix movie and TV series streaming service.

  • Mukesh Ambani 20 billion investment plans in television and telecom

    Mukesh Ambani 20 billion investment plans in television and telecom

    MUMBAI: Mukesh Ambani’s recent focus in the telecom sector hasn’t gone unnoticed, where he has spent at least $18 billion ($1,800 crore) on 4G telecom brand RJio. Industry insiders observe that Mukesh Ambani’s aggressive take on the telecom and television sector may also pit him against his brother Anil Ambani and his company.

    Now reports are out that he intends to spend another $2 billion ($200 crore) over three years to capture TV sets as he eyes an opportunity to use his financial clout in what is a highly fragmented sector.  To put matters into perspective, Mukesh Ambani’s television unit has been aggressively signing up deals with hundreds of small players in a street-by-street effort to root out any final hurdle in its cable TV drive, reported Reuters.

    Industry observers note that this could also snap up rival operators as part of that push, those sources and analysts said, driving tie-ups in a crowded sector that includes Hathway Cable, Den Networks and Siti Cable.

    Industry sources quoting un-named Reliance officials say that Reliance’s mid-year goal of 1 million (10 lakh) subscribers would rise to 5 million (50 lakh) homes in the medium-term. Within three years, the aim is 20 million (2 crore).

    With only 20 million (2 crore) homes in India having a broadband or another Internet connection, it goes without saying that there is a huge growth potential in a country with a population of some 1.3 billion (130 crore).

    “Once the company manages to crack the last mile… it will be a formidable player,” Den Satellite Network MD Rajev Gavi shared with Reuters.

    Reliance executives say it will offer a bundled package with hundreds of channels and video-on-demand in high definition, along with broadband Internet, a landline phone and home surveillance. It will also offer Jio Play, its version of the Netflix movie and TV series streaming service.

  • Reliance Jio appoints Amit Shah as senior vice president

    Reliance Jio appoints Amit Shah as senior vice president

    MUMBAI: Reliance Jio Media has appointed Amit Shah as the senior vice president – content carriage and Value added services (VAS) of the company.  

     

    Shah will report to Reliance Jio CEO K Jayaraman and will be looking after the content and carriage aspect of the business. 

     

    A source in the company informs Indiantelevision.com, “A series of veterans from the cable fraternity will be joining Jio as the launch date comes closer.”
     

    Earlier, Shah worked for two years as head content carriage and VAS for Videocon d2h. He was also associated with Hathway Cable & Datacom as GM accounts content and strategy.

  • Hathway – MSM Media Distribution resolve differences, end dispute

    Hathway – MSM Media Distribution resolve differences, end dispute

    MUMBAI: Multi system operator (MSO) Hathway Cable & Datacom and Multi Screen Media’s distribution arm MSM Media Distribution (MSMMD) have finally put an end to their very public dispute.

     

    Hathway subscribers in phase I and II were greeted with a scrolling message on their screens, which informed them about restoration of MSM channels.

     

    Commenting on the development, a senior Hathway spokesperson told Indiantelevision.com, “We have mutually agreed to renew our deal with MSM in DAS and analogue markets post a meeting yesterday. The MSM bouquet channels have been reinstated in our packages.”

     

    It all started on 14 August when Telecom Disputes Settlement and Appellate Tribunal (TDSAT) had directed Hathway to pay Rs 14.56 crore towards subscription dues to MSMMD for DAS Phase I till the expiry of the agreement i.e. 31 October, 2015 in three instalments.

     

    Hathway in reply to that said that it will not renew the contract with MSMMD for DAS phase II. It may be recalled that this contract between the two expired on 31 March, 2015 and was not renewed by Hathway then.

     

    Commenting on the entire development a senior media observer said, “It’s good that both Hathway and MSM Media have kept the interests of cable TV subscribers in mind and ironed out their differences. A lesson to be learnt from their dispute and the resolution thereafter is that MSOs, DTH players and broadcast networks need to refrain from washing their dirty linen in public. Commercial disputes between two parties need to be resolved behind closed doors and not in the public glare of the media. Using the media for one’s own ends only sends out a bad signal that the industry has yet to mature to government, the regulator and potential investors in India’s video and broadband distribution sector.”

     

    Speaking to this website, Maharashtra Cable Operators Federation (MCOF) president Arvind Prabhu said, “It’s a great move firstly for consumers and secondly for the ecosystem. We are glad that they sorted it out amongst themselves. Having said so, we are now waiting to see how Sony or Hathway compensate the mental and commercial losses of last mile operators (LMOs). Huge number of cable subscribers have shifted to DTH during the dispute. We have given a representation to Hathway from the Aurangabad association but if they don’t do anything, we will go to TDSAT. The ecosystem needs mutual understandings, stakeholders should not let the subscribers suffer because of their individual benefits.”

     

    At the time of filing this report, MSMMD spokesperson was unavailable for comment.

     

    For the time being Hathway subscribers who missed out Messi and Ronaldo dribbling their way through to the nets can enjoy the highlights and wait for the weekend to catch some live LA Liga and Italian Serie A action on Sony Six and Kix for the first time this season. The sports expertise of MSM acquired the broadcasting rights of the two flagship football tournaments this year but before the commencement of the season the two stakeholders landed into dispute which resulted in fans missing the matches.

  • Stockmarket reacts to buzz on FDI raise to 100 per cent in DTH, cable TV firms

    Stockmarket reacts to buzz on FDI raise to 100 per cent in DTH, cable TV firms

    MUMBAI: Is the government going ahead with the Telecom Regulatory Authority of India’s August 2013 recommendation of allowing a hike in foreign direct investment (FDI) in content carriage companies to 100 per cent from the current 74 per cent? And in news channels from 26 per cent to 49 per cent?

     

    No formal announcement has come as yet, but the buzz is that  the Narendra Modi-led government is indeed looking at TRAI’s recommendations which have been gathering dust on the ministry of information and broadcasting’s shelves at Shastri Bhavan in Delhi.  A while ago finance and MIB minister Arun Jaitley had stated that technology had made FDI limits on news channels redundant.

     

    Apparently, an inter-ministerial committee is examining that proposal (which was part of TRAI’s consultation paper released in 2013)   along with those relating to hiking the foreign investment limits in cable TV direct-to-home (DTH), internet TV, mobile TV, HITS (headend-in-the sky) and teleports from 74 per cent to 100 per cent.

     

    But the buzz generated by a Press Trust of India report was enough to lead to  a rise in the share prices of at least two listed content carriage firms  – the Essel group owned Dish TV and the Sameer Manchanda promoted DEN Network on 21 September. DEN, along with the Rajan Raheja promoted Hathway Cable have been enabling themselves to be in  a position to hike the foreign investment limits in their firms  to 74 per cent.

     

    Dish TV shares closed at Rs 116.45, 6.59 per cent higher than its previous close. To be fair to Dish TV, the share is being tipped by almost every investment advisory firm as a stock to be bought as it has been showing an improvement in its financial performance.

     

    At an early stage of the day (Monday) Den Network’s share were up by 1.53 per cent priced at Rs 129. The day, however,  ended with  its shares at Rs 126 down by 0.35 per cent compared to the previous close. Other listed MSOs such as  Siticable, Hathway and Ortel Communications, also saw similar downward movement in their stocks after climbing earlier in the day.

  • Goldman Sachs picks shares in Hathway worth Rs 52.6 crore

    Goldman Sachs picks shares in Hathway worth Rs 52.6 crore

    MUMBAI: The new year has started on a good note for multi system operator (MSO) Hathway Cable and Datacom. Hathway, which became the first MSO to have crossed the $1 billion mark in terms of enterprise valuation, has now attracted Goldman Sachs, which picked up 4.8 per cent stake in the company.

     

    After investing Rs 600 crore in DEN Networks in 2013, this is Goldman Sachs second investment in Indian cable TV industry.

     

    The company bought 80,93,268 shares of Hathway at Rs 65, amounting to Rs 52.6 crore on the National Stock Exchange (NSE).

     

    The highest shareholder in the MSO is Macquarie Bank with 9.11 per cent stake. Other shareholders in the company include Reliance Capital (5.23 per cent), P6 Asia (Providence Equity Partners) (10.85 per cent) and CLSA Global (4.02 per cent) among others.

     

    The news comes at the back of the MSO seeking shareholder’s approval for increasing its total foreign investment by Foreign Institutional Investors (FII) and Foreign Portfolio Investors (FPI) to 74 per cent from the current 49 per cent.

     

    While Hathway had on 8 January got Board approval for increasing the foreign investment limit, subject to approval from the Foreign Investment Promotion Board of India, Ministry of Finance and/or the Reserve Bank of India, the MSO is now seeking the shareholders nod.

     

    The Hathway Board has appointed Rathi and Associates Himanshu S Kamdar as scrutiniser for conducting the voting process through postal ballot. The company has also offered e-voting facility as an alternative. The last date for the ballots to reach Kamdar is 5 pm on 13 February.

     

  • Tribune Digital Ventures buys out What’s-ON

    Tribune Digital Ventures buys out What’s-ON

    MUMBAI: Atul Phadnis’ What’s-ON, a television search and electronic programme guide (EPG) data provider for India and the Middle East, has been acquired by Tribune Digital Ventures, a technology and innovation arm of Tribune Company.

     

    The move expands Tribune’s TV listings and video metadata footprint to more than 50 countries in 30 plus languages, reaching more than 600 million pay TV subscribers.

     

    What’s-ON provides EPG data and TV search products for 16 countries, including India, United Arab Emirates, Saudi Arabia, Jordan, Egypt, Qatar, Bahrain, Indonesia, Kenya and Sri Lanka.  Today, What’s-ON delivers data for more than 1,600 TV channels and helps power more than 50 million set-top boxes through the region’s top cable and IPTV services.  What’s-ON customers include some of the biggest TV networks, service providers and consumer electronics manufacturers, such as Star TV, Discovery Networks, Hathway Cable, Qatar Telecom, Samsung and Sony.

     

    Earlier this year, Tribune had acquired music and video technology and metadata leader Gracenote.  The company’s sizable presence in EPG data in Europe, combined with Tribune Media Services’ (TMS) presence in North America, immediately positioned Tribune as a leading provider of TV data, as well as music, around the globe.  The addition of What’s-ON further extends this reach and strengthens Tribune’s position internationally.

     

    “The acquisition of What’s-ON fits with our broad strategy of diversifying revenue and scaling our metadata business to meet increasing client demand,” said Tribune Company CEO Peter Liguori. 

     

    “The strategic investments we made over the last year expand Tribune’s presence internationally and enable us to offer a trusted solution to cable, Internet and consumer electronics clients globally.  I’m pleased that with What’s-ON we will have a new presence in markets with significant opportunity and What’s-ON’s founder and CEO Atul Phadnis and his team will work together with Rich Cusick and Tribune’s existing TV metadata team to grow this area of our business,” he added.

     

    India is the world’s third largest TV market, after the US and China, with an estimated 175 million homes and a growing base of digital cable subscribers, according to ABI Research.  The expansion of digital TV in Asia, featuring popular shows and movies, will enable Tribune to develop new technologies and services on top of its entertainment data that fuel discovery and recommendations on cable, satellite and over-the-top services.

     

    “We felt it was important to find a company that shares our vision for the business and understands the growth potential for TV data and services in Asia. And we believe we have found that with the Tribune team. Tribune’s portfolio of entertainment technology and metadata will provide us a solid foundation to grow the business and expand our services throughout the region,” said Phadnis.

     

    “Electronic program guides remain the primary vehicle for the discovery of TV shows and movies around the world,” said Rich Cusick, who oversees the TV metadata business for Tribune.  “While data remains the foundation of what we do, our evolution will be centered on data-driven services and features to help define new TV platforms and experiences for viewers around the world,” he added.

     

    What’s-ON will continue to operate out of its headquarters in Mumbai.  Its leadership team, including Atul Phadnis, will remain with the company.  Tribune’s Asian subsidiaries, including Tribune Digital Ventures Singapore, are purchasing all of the shares of What’s-ON for $27 million subject to standard adjustments.

     

    Edelweiss Capital served as the Investment Bank for What’s-ON.