MUMBAI: NBCUniversal International Television has hired Bruce Mitchell as vice president, Digital to build the online presence of NBCUniversal‘s pay TV brands.
Mitchell, who will based in London, will be tasked with building the online presence of NBCUniversal‘s pay TV brands around the world, working collaboratively with in-territory digital teams.
Mitchell takes on the role to strengthen the evolution of NBCUniversal International Television‘s portfolio of channel brands online and across new media platforms. The role includes leadership of the LA-based international digital team for E! Entertainment Television.
The portfolio includes Universal Channel, Syfy, 13th Street Universal, Studio Universal, E! Entertainment Television, The Style Network, DIVA Universal and Golf Channel.
Tag: NBCU
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NBCU hires Bruce Mitchell as vice president, Digital
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NBCU sells $1 bn worth ad inventory for Olympics
MUMBAI: NBCUniversal has said it has sold $1 billion worth of national television and digital advertising for the London Olympics $150 million more than what it made in the previous edition.
The ad total includes sales from across NBCU portfolio, including NBC itself, MSNBC, CNBC, Bravo, Telemundo, the NBC Sports Network, NBCOlympics.com, mobile apps and a new 3D channel.
NBCU said its decision to live stream every athletic competition on NBCOlympics.com and, for the first time, on the NBC Olympics Live Extra app for both mobile devices and tablets, significantly contributed to NBCU’s ability to reach $1 billion.
It will stream more than 3,500 hours of content including all 32 sports and 302 medals.
Digital ad sales for London have exceeded $60 million, roughly three times more than the total for Beijing when NBCOlympics.com alone live streamed 2,200 hours and 25 sports. National television ad sales for London games account for more than $950 million, up approximately $100 million from Beijing.
NBCUniversal is presenting 5,535 total hours of coverage of the 2012 London Olympics across NBC, NBC Sports Network, MSNBC, CNBC, Bravo, Telemundo, NBCOlympics.com, the NBC Olympics Live Extra mobile and tablet app, two specialty channels, and the first-ever 3D platform, an unprecedented level that surpasses the coverage of the 2008 Beijing Olympics by nearly 2,000 hours.
“This feat is a testimony to the quality of Olympic programming and the unparalleled way NBCU presents, produces and covers the Games,” NBC Sports Group EVP, Sales & Sales Marketing Seth Winter said in a statement. “It also demonstrates the power of the Olympics. No other property has such as diverse group of sponsors, who can target the broadest range of demographic and psychographic audiences. We are not done yet and will continue to sell during the Games.”
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‘NDTV is a debt-free company and we are sitting on a cash pile of $70 million’ : NDTV Group CEO KVL Narayan Rao
Two years back, Dr Prannoy Roy-promoted NDTV Ltd crafted a growth path in the entertainment business. Riding a bull run, the news broadcasting company launched NDTV Networks Plc to house subsidiary arms NDTV Imagine Ltd and NDTV Lifestyle.
NBC Universal invested a whopping $150 million for an indirect 26 per cent in NDTV Networks at a time when valuations were running high. Besides, NDTV raised $100 million in step-up coupon bonds.
The global downturn led to the exit of NBCU, freeing NDTV to scout for investors for its non-news verticals. US-based Scripps Networks snapped up 69 per cent stake in NDTV Lifestyle while Turner International agreed to take 92 per cent of NDTV Imagine.
So where does this leave NDTV? Are its growth wings clipped?
In an interview with Indiantelevision.com‘s Sibabrata Das, NDTV Group CEO KVL Narayan Rao says at the end of a whole chain of transactions NDTV is left with a cash pile of $70 million to focus on its news business while retaining portions of the non-news business.
Excerpts:
What prompted you to get out of the entertainment business?
We wanted to focus on what we are best at: running news operations. We are a credible news organisation and there is enough scope to grow that. Besides, we will still retain 5 per cent stake (3 per cent post issue of primary shares to Turner) in NDTV Imagine. As for the Hindi GEC space, it was clear that a strong international strategic partner would bring in funding and global expertise. We are delighted that we have this deal with Turner.
Did the global downturn and the exit of NBC Universal spur the chain of events?
No. We bought out NBCU‘s stake. As a result, we got the opportunity to find a good investor who would run the company.
NBCU had invested $150 million for the 26 per cent stake. Did you pay $25 million to buy back their stake?
The deal is confidential. I can‘t comment on that.
Was the deal with Turner dependent on repurchasing the bond holders who would have held 20 per cent in NDTV Networks?
We had set out to do a few things. Buying back the bond holders was part of that process. We paid $72.4 million for that. This allowed us to pursue investors for our different verticals.
But wouldn‘t the payout have been $115 mn (along with interest payments)?
There was a negotiation that took place. We bought out the bonds and that allowed our subsidiaries the flexibility for restructuring and financing the businesses including being able to access bank finances for working capital and other requirements.
‘We wanted to focus on what we are best at: running news operations. We are a credible news organisation and there is enough scope to grow that‘
Did you decide to retain a higher stake in NDTV Lifestyle because it would involve less funding while NDTV Imagine would guzzle in more money?
We entered into an agreement with the US-based Scripps Networks which has experience in creating lifestyle brands. They took a 69 per cent stake and the transaction value was $55 million.
Will NDTV get $30 million while the balance go as investments into NDTV Lifestyle?
I can‘t comment on the specifics.
Two years back, NDTV decided to expand because of a bull run. The market tanked and the scenario changed dramatically. Was it a mistake to expand into the non-news business?
We have completed a chain of transactions. But at the end of it, NDTV is a debt-free company and we are sitting on a cash of $70 million. Perhaps, we are the only TV news organisation that would be sitting on such a large cash pile. We will still have some non-news businesses running. We also have NDTV Convergence. We have a decent future to look forward to.
NDTV had posted a standalone net loss of Rs 731.8 million on a turnover of Rs 3.09 billion for the fiscal ended 31 March 2009. How do you plan to turnaround in the news business?
For FY‘09, we had a one-time cost of around Rs 400 million. We have taken substantial cost-saving measures this year.
Do you have major plans to invest in NDTV Convergence?
It is one of our important properties. A lot, though, will depend on getting the right revenue model.
NDTV has shut down MetroNation Delhi. Do you have any revival plans?
It is too early to comment on this. -
NDTV Q1 net at Rs 20.8 million
MUMBAI: NDTV has posted a net profit of Rs 20.8 million in the quarter ended 30 June, 2008 as against a loss of Rs 21.5 million in the corresponding year last fiscal.
During the quarter, the company’s revenue grew 56 per cent to Rs 955 million, from Rs 612.1 million a year ago.
On a consolidated basis, the company’s net profit stood at Rs 5.24 billion whcih includes an exceptional amount of Rs 6.42 billion arising on dilution by subscription of shares by NBCU in an overseas subsidiary.
“NDTV Imagine has also launched NDTV Lumiere in this quarter with theatrical releases of highly acclaimed world cinema, in metros across India,” says an official release.
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Jeff Zucker elevated to NBC Universal president, CEO
MUMBAI: US media conglomerate NBC Universal has announced that Jeff Zucker is its president and CEO.
He succeedes Bob Wright, who has served in this role for 21 years..
NBC Universal’s parent firm General Electric Company Chairman and CEO Jeffrey R. Immelt says, ” Jeff will succeed one of the true giants in media — Bob Wright — to whom we owe a tremendous debt of gratitude for helping to build this great media company. By any measure, Bob is one of the most successful media executives ever.
“He transformed NBC from a broadcast network into a diversified global media company. He was always able to see what was coming next, whether it was cable, satellite, Hispanic broadcasting or digital media. Bob’s strategic vision and execution kept NBC growing.”
Zucker, 41, is a 21-year veteran of NBC Universal. As president and CEO, he will have responsibility for the strategic direction and operations of all NBC Universal properties. Zucker is one of the industry’s most experienced executives and has spent much of his career working in NBC’s news, sports, and entertainment divisions. As CEO of the NBC Universal Television Group since 2005, Zucker has overseen the company’s television programming and distribution operations, which account for two-thirds of the company’s overall profits.
Immelt adds, “Jeff Zucker is a terrific talent and the right person to guide NBC Universal on the next stage of its growth. His 20-plus years with NBC give him deep knowledge of the company’s strategy, people and culture. In the past few years, Jeff has shown that he is an energetic, focused leader who can rise to a challenge. His creative experience, expertise in news and broadcasting and intense passion for the business were immensely appealing to the Board and to me during this succession process.
In addition to serving as a vice chairman of GE, Wright will assist with the leadership transition at NBCU.
Zucker said, “Bob has been a terrific mentor to me throughout my career, and I am honored to be his successor and fortunate to assume responsibility of a company that is so well positioned for future growth. I’ve spent my entire career at NBC and had the privilege to work with the best in the business every day. I look forward to continuing to work with this talented management team as we take NBC Universal to the next level.”
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WWE doing a VoD promotion in the US
MUMBAI: US broadcaster NBC Universal On Demand and World Wrestling Entertainment )WWE) are joining forces for a video on demand (VOD) and pay-per-view (PPV) promotion.
The aim is top help help cable operators in the US attract and upgrade digital and broadband subscribers, while increasing revenue for PPV and the On Demand platform.
Consumers can separately purchase the interactive pay-per-view Cyber Sunday from WWE from 5 November and The Fast and the Furious: Tokyo Drift from 26 October offered by NBCU on VOD and PPV. If consumers order both programmes and send in their bill showing proof of purchase by 23 November, 2006, they will receive a WWE and The Fast and the Furious: Tokyo Drift Limited Edition Car Kit gift pack of automotive paraphernalia while supplies last.
Additionally, from 26 October till 28 February , 2007, consumers can visit www.highspeedstakes.com and enter the “HighSpeedstakes” for a chance to win a prize of a driving school experience with a WWE Superstar. This co-branded microsite will also feature exclusive footage of The Fast and the Furious: Tokyo Drift and provide a link to vote for Cyber Sunday.
Fans also can participate in WWE’s Cyber Sunday PPV event in November by casting votes online at www.wwe.com to determine, among other things, which Superstars and match stipulations may be involved in the PPV event. For many situations, fans can vote right up until the match starts on PPV, providing almost immediate feedback.
Participating cable and satellite systems will be offered an array of marketing materials in English and Spanish and will have the opportunity to tag all materials with broadband information and promotions. NBCU and WWE will support the initiative with national exposure and a media buy.
WWE Affiliate sales and marketing senior VP Peter Clifford says, “The premise behind Cyber Sunday, which is largely a broadband involved interactive PPV event, and the natural fit between WWE fans and fans of The Fast and the Furious franchise made for a wonderful opportunity to join forces with NBCU. The result is a win/win/win for WWE, NBCU and our affiliates.
“Using our pay-per-view and VOD assets, we are giving our customers a great opportunity to sell more high speed services.”