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Tag: Mukesh Ambani

  • 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 Jio’s 2025 IPO poised to shatter Indian market records

    Reliance Jio’s 2025 IPO poised to shatter Indian market records

    Mumbai: In a move set to redefine India’s financial landscape, Reliance Jio Infocomm, the telecommunications arm of Mukesh Ambani’s Reliance Industries Ltd (RIL), plans to launch its initial public offering (IPO) in 2025. Analysts project the company’s valuation to exceed $100 billion, positioning it as potentially the largest IPO in India’s history.

    Reliance Jio has rapidly ascended to become India’s leading telecom operator, boasting 479 million subscribers. This growth underscores its robust business model and revenue streams, making it a prime candidate for public listing. A Reuters report highlights that RIL has “firmed up plans to launch the Reliance Jio IPO in 2025,” reflecting the company’s confidence in its market position.

    In July, Global brokerage firm Jefferies estimated Jio’s IPO valuation at $112 billion, suggesting a 7-15 per cent upside for RIL’s share price. While the telecom arm gears up for its market debut, Reliance Retail’s IPO is expected to follow at a later date. The company aims to address internal operational challenges before proceeding with the retail unit’s public offering. This strategic sequencing ensures that each segment is optimally positioned for investor engagement.

    The anticipated IPO aligns with Ambani’s 2019 announcement to list both Reliance Jio and Reliance Retail within five years. The forthcoming public offering is poised to attract significant investor interest, given Jio’s market dominance and growth trajectory.

    As the Indian IPO market experiences a surge, with 270 companies raising $12.58 billion by October 2024, Jio’s entry is set to be a landmark event. The company’s strategic initiatives and market leadership position it to make a substantial impact on the financial markets.

  • Nvidia and Reliance partner to build AI infrastructure in India

    Nvidia and Reliance partner to build AI infrastructure in India

    Mumbai: In a groundbreaking move poised to reshape India’s tech landscape, Nvidia and Reliance have announced a strategic partnership to develop advanced AI infrastructure in the country. The collaboration was unveiled during the Nvidia AI Summit 2024, with Nvidia CEO Jensen Huang and Reliance Industries chairman Mukesh Ambani sharing the stage in a compelling fireside chat. This partnership aims to accelerate India’s progress in artificial intelligence, leveraging cutting-edge technology to enhance various industries from healthcare to telecommunications.

    Speaking at the summit, Huang highlighted India’s emerging leadership in AI. “India has the potential to become one of the world’s AI superpowers, and with partners like Reliance, we can make AI more accessible to businesses and developers across the country,” said Huang. The joint venture will see Reliance’s extensive digital infrastructure integrated with Nvidia’s AI computing capabilities, creating a robust ecosystem to support the development of AI-driven applications.

    The initiative is set to play a key role in India’s AI mission, which seeks to harness the power of artificial intelligence to drive economic growth, job creation, and innovation. With Reliance providing its digital assets and extensive network through Jio Platforms, the partnership is expected to facilitate the rapid deployment of AI solutions across sectors such as agriculture, healthcare, and education.

    Ambani emphasised the potential of this collaboration, stating, “AI will be a catalyst for economic and social transformation, and together with Nvidia, we are committed to democratising AI in India.” The partnership is also expected to contribute significantly to the development of India’s digital infrastructure, enhancing capabilities in data processing, AI modelling, and real-time analytics.

    Nvidia’s decision to partner with Reliance aligns with India’s broader ambition to position itself as a global AI hub. This partnership represents a pivotal moment, as the country seeks to build foundational infrastructure to support AI innovation on a large scale. The collaboration will involve building AI supercomputers and software development platforms that will empower developers and startups to build AI-based applications.

  • Reliance Industries reports lower net profit; flat revenues in Q2 FY 2025

    Reliance Industries reports lower net profit; flat revenues in Q2 FY 2025

    MUMBAI: Billionaire Mukesh Ambani’s Reliance Industries Ltd reported nearly flat revenues and lower profits for Q2 of FY 2025 ended 30 September 2024 as compared to Q2 of FY 2024 ended 30 September 2023.

    Revenue from operations at the oil to telecom conglomerate was at Rs 235,481 crore (Rs 234,956 crore); other income (Rs 4,876 crore vs Rs 3,841 crore) took up total income to Rs 240,357 crore (Rs 238,797 crore). Higher expenses of Rs 215,320 crore (Rs 212,304 crore) took a toll on the bottom line with PBT falling to Rs 25,037 crore (Rs 26,493 crore). Lower taxes (both direct and differed) of Rs 5,396 crore (Rs 6,673 crore) helped rescue the fall in PAT marginally which dropped to Rs 19,101 crore (Rs 19,820 crore). Net profit attributable to the owners of the company fell 4.88 per cent to Rs 16,563 crore (Rs 17,394 crore).

    The oil to chemicals business reported higher revenues of Rs 155,580 crore (Rs 147,988 crore) with EBITDA dipping to Rs 12,143 crore (Rs 16,277 crore). A press release stated that the oil to chemicals revenue improved with higher volumes and increased domestic placement of products. EBITDA was lower by 23.7 per cent on account of sharp decline in product margins. Fuel cracks declined by nearly 50 per cent Y-o-Y. Downstream chemical also declined with muted global demand. In a well-supplied market, RIL benefited due to superior ethane cracking economics driven by sharp fall in ethane prices.

    The oil and gas business had a lower top line with revenues at Rs 6,222 crore (Rs 6,6620 crore). EBITDA for this segment however showed buoyancy rising to Rs 5,290 crore (Rs 4,766 crore). The press release stated that lower gas price realizations led to six per cent  lower revenue in the oil and gas segment. Oil and gas segment EBITDA increased by 11.0 per cent on account of sustained volume growth and one time provisioning towards decommissioning cost for Tapti field in Q2 FY 24.

    Reliance’s retail business received a slight knock with revenues dropping to Rs 76,325 crore (Rs 77,163 crore). The press release said EBITDA for this segment improved fractionally to Rs 5,861 crore (Rs 5,841 crore) with a continued focus on streamlining of operations and calibrated approach in B2B.

    Digital services which includes its Jio Platforms business was the shining star with revenues climbing to Rs 38,055 crore (Rs 32,657 crore) and EBITDA at Rs 16,139 crore (Rs 14,055 crore). The 17.8 per cent Y-o-Y EBITDA increase was due to better subscriber mix, digital services scale-up and revision in telecom tariffs, stated the RIL press release.  

    “I am happy to note that during this quarter Reliance once again demonstrated the resilience of its diversified business portfolio. Our performance reflects robust growth in digital services and upstream business,” said RIL chairman & managing director Mukesh Ambani. ”This helped partially offset weak contribution from O2C business which was impacted by unfavorable global demand-supply dynamics.  

    “Growth in digital services was led by increased ARPU and improving customer engagement metrics reflecting the strong value proposition of our services. The home broadband segment is witnessing accelerated momentum on the back of our unique industry-leading JioAirFiber offering. Jio’s broad spectrum of offerings enables it to digitally empower every village, town and city in India as well as the country’s small and medium scale enterprises. The digital services business continues to focus on innovative deep-tech solutions on a national scale and is on track to deliver the path-breaking benefits of Artificial Intelligence to all Indians. 

    “The retail segment continues to increase its consumer touchpoints and product offerings across physical and digital channels. The unique omni-channel retail model enables the business to service a wide range of requirements of a vast, heterogenous customer base. The retail business continues to partner with renowned domestic as well as global players, expanding its basket of quality product offerings. The focus on strengthening our retail operations will help us rapidly scale-up this business in the coming quarters and years and sustain our industry-leading growth momentum.  

    “The first of our new energy giga-factories is on-track to commence production of solar PV modules by the end of this year. With a comprehensive range of renewable solutions including solar, energy storage systems, green hydrogen, bio-energy and wind, the new energy business is poised to become a significant contributor to global clean energy transition.” 

  • Uday Shankar & what’s driving the Star-Disney-Viacom18 merger

    Uday Shankar & what’s driving the Star-Disney-Viacom18 merger

    MUMBAI: Uday Shankar has been lying low for quite a while, avoiding mixing and sharing his wisdom with journalists – a breed from which he emerged  – as he goes about reshaping a new media and entertainment powerhouse coming out of the merger of Disney Star with Reliance Industries’ Viacom18. 

    But the incoming vice-chair took some time out to speak to McKinsey.com. Speaking to the consulting firm’s insights section online, Uday, highlighted what drove the merger.

    “..India is one of the few markets where television still has reasonably good health, within that, a lot of it is changing. Connected TVs and handheld devices have become very substantial and mainstream,” he said. “You’re competing with global players: Google and Meta. Most of digital-advertising revenue goes to these two companies. So you need to pivot; you need to create a business. We saw an opportunity to leverage our inherent strengths and make that strategic pivot. That’s the primary rationale for the merger.”

    He added that the streaming business also requires innovation and disruption with AVoD and SVoD models having limited revenue potential in India. 

    “While there are a lot of people today who are willing to pay for content and who are interesting or important to advertisers, there are also a lot of people who are not relevant for either of these models,” explained Uday. “You need to create unique or native monetisation models to create value from that base. Whoever manages to create new revenue streams definitely has an advantage. So I think all these opportunities exist.”

    Uday then went on to say he’s learnt from every leader he has worked with, from Rupert, James, Lachlan and Mukesh Ambani who he currently continues to work closely with. 

    “The first thing is they’re all very clear about why they’re doing what they’re doing—and that clarity is very helpful,” he elucidated “They all play to win. And they all have a high threshold for failure. They’re patient, and they’re not willing to give up. And then, they all work on trust. They all take their bets on people. And once they trust people, they’re willing to back them up. And I learned that myself. I take my bets on people; I trust them once they earn my trust. And I back them up.”

    To read the full interview logon to 
    https://www.mckinsey.com/industries/technology-media-and-telecommunications/our-insights/uday-shankar-on-indias-media-and-entertainment-evolution#/

    Picture courtesy: McKinsey.com’s video interview with Uday Shankar
     

  • We are the only news network in India with global ambition: Mukesh Ambani

    We are the only news network in India with global ambition: Mukesh Ambani

    Mumbai: At the 47th Annual General Meeting (AGM) of Reliance Industries, Chairman Mukesh Ambani highlighted the performance and strategic growth of Network18’s news business.

    As part of his address, Ambani said, “Our News business is reaching new heights. This is due to our focus on high-quality journalism. We lead in both general and business news. We are the only network in India with global ambitions. News18 was India’s top TV network for election news. On June 4, the counting day, its reach was nearly 50% higher than the IPL final.

    “CNBC-TV18 had an 82% viewership share on the Budget Day. This is in line with its weekly performance. CNN-News18 often outperforms all other channels combined. It has been number one for over two years,” he added.

    Elaborating on Network18’s digital platforms, Ambani said, “Moneycontrol is transforming into an advanced fintech provider of data and analytics for users in India and beyond. It is unmatched in speed and accuracy. It has 70 million unique visitors. Our premium service, MC Pro, now has over 8,50,000 paid subscribers. This makes it a Top-10 subscription site globally and the largest in India.

    “Firstpost is becoming a global news powerhouse. Its subscriber base has more than doubled in the last 12 months. In July, Firstpost recorded 127 million video views. This ranks it sixth among global peers. Firstpost is recruiting top talent to become the definitive global news destination from India.”

    “I believe it is time for India, as the world’s most populous nation, to assert its voice and gain its rightful space in the influential global media,” added Ambani.

  • Why Disney-Star India aligned with Reliance?

    Why Disney-Star India aligned with Reliance?

    MUMBAI: What was the rationale behind Disney Star India’s decision to align with the Mukesh Ambani-led Reliance Industries? Speaking at the Morgan Stanley Technology, Media & Telecom Conference in the US on 5 March (during a question and answer session,) Disney CEO Bob Iger, gave some insights.

    First he said the mouse house wanted to stay in India. “We made a big investment in India when we purchased the assets of 21st Century Fox. We’re one of the biggest media companies in India. But even though it’s the most populous country in the world, and we felt we want to be there because of that, we also know that there are challenges in that market.”

    He added that the company got a chance to align with Reliance, and he grabbed it fast. “(It) …is obviously the company that has done very well there and one that we respect. And in doing so, end up owning part of a bigger media company. And we believe that, that not only should benefit us in terms of the bottom-line, but derisk us as well there.”

    “So, it’s kind of the best of both worlds. We stay in the market at a significant level. We have a very good partner in Reliance, and we get to have a chance of growing a business and lowering the risk of doing so,” he concluded.

    Now it’s up to time and the new structure to prove whether these reasons were well-founded. 

  • Gujarat is fully 5G services enabled anywhere in the world – Mukesh Ambani

    Gujarat is fully 5G services enabled anywhere in the world – Mukesh Ambani

    Mumbai: To become pioneering Gujarat for infrastructure, socioeconomic development ecosystem com ‘ Vibrant Gujarat 2024’ held on Wednesday. Sustainable development and making India and Gujarat become ‘ Business Hub’. By promoting inclusivity in the business approach of PM Modi, Self Narendra Modi, Gujarat CM Bhupendra Patel many veterans along with company delegates and Industrialists like Mukesh Ambani and Gautam Adani were also presented at the summit.

    The Vibrant Gujarat Summit 2024 epitome of success and development of India in recent times. While addressing the summit, Mukesh Ambani emphasised modern India for Entrepreneurship and Sustainable development. And to become global leader in Telecom and Green energies. According to Reliance Chairman Mukesh Ambani, in the last few years Reliance industries heavily in the Green Energy landscape amounting to Rs 12 Lakh Crores. Significantly one third amount from total investment is invested in Gujarat.

    He also highlighted Reliance achievement for the investment and proactively rollout of 5 technologies in Gujarat. While addressing he said, ‘ Reliance Jio completed the fastest rollout of 5 G services anywhere in the world. Today Gujarat is completely 5G services enabled including Urban and rural areas. This will make Gujarat a global leader in digital platform and AI transformation.’

    He also praised the mission of PM Narendra Modi for vision of a developed India by saying, ‘ PM Modi is the most successful PM of India. His vision and mission is taking India ahead in global leadership.’

    Currently Gujarat also planned to become a semiconductor hub for India by attracting global investments. Also while addressing the growth story of Gujarat, he said,’ I am proud Gujarati ‘.When foreigners think of new India then think of new Gujarat.’

  • Vibrant Media bags Rs 100 crore Jio-bp media account

    Vibrant Media bags Rs 100 crore Jio-bp media account

    MUMBAI: It’s vibrant and it’s going to be all about gas. Mumbai-based media outfit Vibrant Media has raced ahead of Group M and Beehive Communications to capture the Rs 100 crore account of Jio bp in a three-agency pitch.

    Reliance BP Mobility Limited (RBML) – a 51: 49 joint venture between  Mukesh Ambani’s Reliance Industries and global energy major bp – was set up in 2021 to operate the Jio-bp brand and make it a leading player in India’s fuels and mobility markets.

    Jio-bp has since then been  leveraging Reliance’s presence across 21 states and its millions of consumers through the Jio digital platform while bp has brought  its extensive global experience in high-quality differentiated fuels, lubricants, retail and advanced low carbon mobility solutions.

    RBML has plansto explodeits current count of 2,000gas station to up to 5,500 over the next three years.
    An advertising blitz is expected to break later this month and cuts across TV, digital, print, and outdoors, reveal sources. Jio bp had in June 2023 handed over the digital mandate for the account to Saatchi & Saatchi Propagate. That, according to sources, has been handed over to Vibrant, which handles most of the Reliance brands media spends.

    Jio BP – a joint venture between Mukesh Ambani’s Reliance Industries and oil major British Petroleum – seeks to become set up a chain of Operating under the “Jio-bp” brand, the joint venture aims to become a leading player in India’s fuels and mobility markets. It will leverage Reliance’s presence across 21 states and its millions of consumers through the Jio digital platform. bp will bring its extensive global experience in high-quality differentiated fuels, lubricants, retail and advanced low carbon mobility solutions. 

    bp and RIL expect the venture to grow rapidly to help meet India’s fast-growing demands for energy and mobility. India is expected to be the fastest-growing fuels market in the world over the next 20 years, with the number of passenger cars in the country estimated to grow almost six-fold over the period. RBML aims to expand from its current fuel retailing network of over 1,400 retail sites to up to 5,500 over the next five years. This rapid growth will require a four-fold increase in staff employed in service stations – growing from 20,000 to 80,000 in this period. The joint venture also aims to increase its presence from 30 to 45 airports in the coming years.
     

  • Reliance Industries shareholders welcomes Isha, Anant and Akash Ambani to the board

    Reliance Industries shareholders welcomes Isha, Anant and Akash Ambani to the board

    Mumbai: Reliance Industries shareholders have approved the appointment of new leaders – Isha, Akash and Anant Ambani on the company’s board as non-executive directors.

    Shareholders have approved the appointment of Isha Ambani to the company’s board with 98.21 per cent votes cast in its favour, while Akash Ambani’s nomination garnered 98.06 per cent of the vote.

    Anant Ambani’s appointment to the company’s board received 92.75 per cent votes in favour.

    Isha Ambani was appointed the leader of Reliance Retail in August 2022, while Akash Ambani became chairman of Reliance Jio in June last year. Anant Ambani was appointed as the leader of the company’s energy vertical in August 2022.

    Reliance Industries chairman & managing director Mukesh Ambani will continue at the helm for another five years, as he had announced during the AGM.