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Tag: Nita Ambani

  • How Nita Ambani is quietly developing India’s M&E, sports and arts domains

    How Nita Ambani is quietly developing India’s M&E, sports and arts domains

    MUMBAI: JioStar India chairperson Nita Ambani says she can’t wait for the merger between Viacom18 and Disney and Reliance Industries to overall take Indian culture and entertainment to the world.

    Speaking to Haslinda Amin on her show Latitude under Bloomberg News, Nita Ambani highlighted: “We have to wait for the magic to happen to take Indian entertainment to the world through our streaming services as we look at putting India on the world map through this merger,” she said.

    Nita was otherwise pretty kicked about the fact that she had been given the mantle to head the media side of the Reliance business.  “It’s a new chapter. It’s a new beginning. And I am ready to take on new challenges and am very excited,” she told Amin.

    She confessed to the news host that even though she fell in love with cricket, she was not fully conversant with the intricacies of the sport. “I started reading about cricket,” she revealed. “I started talking to any cricketer that would have a conversation with me. It took me sometime to pick up and talk to all the boys of cricket. I spoke to Sachin, who is known as the god of cricket and I would ask him such embarrassing questions.But today it feels good, my son Akash is leading the Mumbai Indians cricket team. But what fills my heart  with joy Is the Women’s Premier League .”

    Nita disclosed that Indian girls go through so much to get to where they are. “Right from seeking permission from their parents who are not willing to let them follow their dreams,” she explained. Financial issues, Once you are injured you have lost your career.It takes them hours to reach their training centre. They have no sporting  gear, sometimes no shoes, when they tell you these stories, they are truly inspirational. We feel a shift in parents opinion towards sports, that they can have a career,”

    “It’s a dream of 1.4 billion to see the Olympics in India,” said Nita. “ I believe once sport takes over the transformation will be seen not only In the lives of the youth but also on the economy of our country. India is one of the biggest centres for digital usage. The Tokyo Olympics had the highest amount of digital engagement from India and one third of the viewership of the Olympic channel comes from India, India as a sporting market is huge,” she spelt out.

    Nita Ambani then highlighted the role that women are going to play in the country going forward. As well as how art (rural and urban)  entertainment,  and culture are now being given a thrust as more and more foreign acts are performing at the excellent infrastructure that has been put in place at the cultural centre which has been named after her in Mumbai:

    Nita told Haslinda, that she began as a teacher. “India has a great history and if we take that legacy and nurture it, and it is cherished for generations to come, that would be our vision to shine the spotlight on India,” she said.

  • Gayatri Yadav roped in as group CMO and EVP at Reliance Industries

    Gayatri Yadav roped in as group CMO and EVP at Reliance Industries

    MUMBAI: Veteran marketing leader Gayatri Yadav has joined Reliance Industries Limited as group chief marketing officer (CMO) and EVP, strategic initiatives, chairman’s office. In this role, she will collaborate closely with Mukesh Ambani, Nita Ambani, Isha Ambani, Akash Ambani, and Anant Ambani to drive brand innovation and strengthen consumer engagement.

    Gayatri, who brings over three decades of diverse experience, has held prominent positions across FMCG, media, and investment sectors. Her career includes key roles at Procter & Gamble, General Mills, and Star India, where she spearheaded major marketing strategies. Most recently, she served as CMO at Peak XV Partners (formerly Sequoia India & SEA), leading its rebranding and digital growth initiatives.

    Reflecting on her journey, Gayatri expressed gratitude for past opportunities and highlighted her excitement to contribute to Reliance’s growth-driven vision, stating: “What is good for India is good for Reliance.”

    Beyond her corporate roles, Gayatri holds board positions at Paani Foundation, United Way Mumbai, and PRS Legislative Research, underscoring her commitment to social impact.

  • Donald Trump, Mukesh & Nita Ambani, Kalpesh Mehta & Pankaj Bansal: What’s the connection?

    Donald Trump, Mukesh & Nita Ambani, Kalpesh Mehta & Pankaj Bansal: What’s the connection?

    MUMBAI: When the incoming president of the US invites you, you definitely have to go. The pre-swearing in inaugural festivities thrown by the to-be -President  Trump at an intimate gathering of  friends and family at Trump National Sterling in Virginia saw a handful  of Indians mark their presence. But those who really want to make a splash of it are two Indian real estate developers who are the Republican leader’s Indian partners in Trump Towers. 
     

    Mr & Mrs Trump The fireworks celebration

    We are referring to Tribeca Developers founder Kalpesh Mehta and M3M Developers managing director Pankaj Bansal who were seen hobnobbing with Trump and sharing a glass of bubbly with him.  Both Mehta and Bansal are key partners in the development of Trump Towers in India, reflecting the strong ties between Indian business leaders and the Trump Organisation. Kalpesh Mehta, the licensed Indian partner for Trump Towers, has been instrumental in bringing the Trump brand to India. They were also seen cracking a few jokes with India’s richest couple – Mukesh and Nita Ambani.  Mukeshbhai and Nitabhabi, apparently, took an overnighter on their private jet for a spin to Washington DC.

    Global leaders, including Amazon.com founder Jeff Bezos and other prominent business figures, were also in attendance.

    A nearly 20 minute firework display was watched by Trump and his wife Melania and his extended family from the balcony of his club.

    Trump’s alleged excesses have already got critics carping  about his proximity to several American billionaire friends of his who are getting crucial posts and others (one of them read crypto currency industry)  who are handing out $250 million to  the inauguration committee for spending on what is being called the most expensive inauguration  (read party) of a president in history. Other presidents have reportedly spent less than $50  million (Obama) on their inauguration spending prior to Trump who spent a massive $107 million following  his 2017 election victory.

     

    With the Trump-baiters getting their knives out even before he has got into the White House, we wonder what they will come up with after he does. We can only wait and watch.  

  • CCI gives go ahead to Viacom18-Disney Star India marriage

    CCI gives go ahead to Viacom18-Disney Star India marriage

    MUMBAI: The big fusion has been given the go ahead. The Competition Commission of India  (CCI) has approved the proposed merger involving Reliance Industries Limited, Viacom18 Media Private Limited, Digital18 Media Limited, Star India Private Limited and Star Television Productions Limited, subject to the compliance of voluntary modifications.

    The CCI, in its post on the X platform, stated, “C-2024/05/1155 Commission approves the proposed combination involving Reliance Industries Ltd, Viacom18 Media Private Ltd, Digital18 Media Ltd, Star India Private Ltd, and Star Television Productions Ltd, subject to the compliance of voluntary modifications.”

     

    This approval was announced just a day before Reliance Industries Ltd’s (RIL) 47th annual general meeting. 

    A press release issued by the CCI later in the evening at 6:34 pm on the Press Information Bureau website stated: 

    The proposed combination envisages to combine the entertainment businesses (along with certain other identified businesses) of Viacom18, part of RIL group and SIPL, wholly owned by The Walt Disney Company (TWDC). As a result of the transaction, SIPL, currently a wholly owned entity of TWDC through its subsidiaries, shall become a joint venture (JV) which will be jointly held by RIL, Viacom18 and existing TWDC subsidiaries.
    RIL, either directly or indirectly, is engaged in several businesses such as exploration and production of oil and gas; petroleum refining and marketing; manufacture and sale of petrochemicals; manufacture and sale of chemicals; organised retail; media and entertainment activities; and telecommunication and digital services in India and worldwide.

    Viacom18 is, inter alia, engaged in the business of broadcasting of television (TV) channels, operation of an OTT platform, selling commercial advertisement space on TV channels, licensing of merchandise, and organization of live events in India and worldwide. Viacom18 is also engaged in the business of production and distribution of motion pictures.

    SIPL is engaged in a range of media activities including TV broadcasting and the production of AV content and motion pictures, operation of an OTT platform, and selling commercial advertisement space on TV channels and OTT platforms. SIPL is, directly or indirectly, a wholly owned entity of TWDC.

    STPL is a company incorporated in the British Virgin Islands and owned, indirectly, by TWDC.

    The Commission approved the proposed combination subject to the compliance of voluntary modifications.

    Detailed order of the CCI will follow.
     

    Earlier in February 2024, RIL’s subsidiary Viacom18 and Disney’s Indian unit, Star India, had unveiled plans for merging their businesses, setting the stage for the creation of one of the largest TV and digital streaming platforms in India.

    Under the merger arrangement, Viacom18’s media operations will be integrated with Star India Pvt Ltd (SIPL) through a scheme of arrangement approved by the court. The joint venture, which is valued at Rs 70,350 crore (approximately $8.5 billion) on a post-money basis, involves an infusion of Rs 11,500 crore (about $1.4 billion) by RIL to support the new entity’s growth strategy.

    The combined entity will position itself to compete with major players like Sony, Netflix, and Amazon, boasting a portfolio of 120 TV channels and two streaming platforms. The new board of directors will comprise 10 members, with five nominated by RIL, three by Disney, and two serving as independent directors.

    Nita Ambani is set to be the chairperson of the merged entity, while Walt Disney former executive Uday Shankar, will serve as vice chairperson. The merger is projected to be finalised between the last quarter of 2024 and the first quarter of 2025.

    Ownership in the joint venture will be structured as follows: RIL will hold a 16.34 per cent stake, Viacom18 will own 46.82 per cent, and Disney will have a 36.84 per cent share, according to the merger agreement’s terms.

    On 28 August, following the announcement, RIL’s shares remained steady, closing at Rs 2,999 per share. Notably, the CCI’s approval was announced after trading hours.

  • Reliance 46th AGM 2023: Latest updates & announcements

    Reliance 46th AGM 2023: Latest updates & announcements

    Mumbai: Reliance Industries Ltd. today in its 46th annual general meeting on 28 August 2023, just like in the previous AGMs, investors are anticipating significant revelations during this yearly event. This occasion holds added significance as it marks RIL’s inaugural AGM subsequent to the listing of Jio Financial Services (JFSL) shares on various stock exchanges.

    In latest updates from the AGM, Reliance Foundation chairperson Nita Ambani said, ”I represent the beating heart of Reliance, our beacon of empowerment and transformation – the Reliance Foundation. For us, business and philanthropy complement and reinforce each other as both are guided by same spirit of We Care.”

    “From Culture to Climate, Education and Sports to Women’s Empowerment, Healthcare to Livelihoods, Rural Transformation to Disaster Mgmt, we work in 54,000+ villages. We have so far touched lives of ~70 mn Indians,” she added.

    Speaking on accelerating to achieve net carbon zero by 2035, Mukesh Ambani said,” We have embarked transitioning O2C business into a sustainable and green business.” He added, “the key pillars of this transition are – One, we are accelerating our journey to achieve Net Zero by 2035 through renewables and bioenergy”.

    On collaborating with RIL at the AGM, business giant Bill Gates said, “I am delighted Reliance is collaborating with Gates Foundation and my climate organisation, Breakthrough Energy, on some of world’s toughest challenges – climate change, helping unlock economic power for women and improving health outcomes for poor”.

    Talking about Reliance’s cardinal principles, Mukesh Ambani said, “In pursuit of these dreams, RIL has scrupulously adhered to certain cardinal principles of value creation. These have ensured that your company becomes more valuable, year after year, decade after decade”

    The five cardinal principles are:

    1st, Growth driven by perpetual demand

    2nd, driven by superior customer experience and value

    3rd, Growth driven by the power of disruptive innovation

    4th, Growth driven by business discipline

    5th, Growth driven by global market potential

    Here are some more key highlights from the AGM:

    . Over the past decade, Reliance Industries Ltd has made a total investment of $150 billion, marking the largest investment by any Indian company during this period. During the annual general meeting, Ambani mentioned that Reliance has consistently led the way in shaping the landscape of India’s evolving economy.

    . Providing a status report to stakeholders about the latest developments in its new energy division, Mukesh Ambani, the chairman of Reliance Industries, announced during the company’s 46th annual general meeting (AGM) that their immediate focus is on establishing a battery giga factory by the year 2026.

    . Ambani has unveiled an intriguing update – the launch of the Jio Bharat economical smartphone, available at a mere cost of Rs 999. This device is furnished with a variety of functions intended to address a diverse array of user requirements. Users have the opportunity to partake in live TV, seamlessly stream multimedia content, indulge in digital photography, and effortlessly conduct UPI transactions via JioPay.

    . Highlighting the continued attraction of international investors towards its retail enterprise, Mukesh Ambani, announced to shareholders on Monday that the valuation of Reliance Retail has surged to Rs 8.28 lakh crore at present, marking a significant increase from its 2020 valuation of Rs 4.28 lakh crore.

    . He further announced that Jio, the company’s telecommunications division, is set to deploy one million 5G cells by December 2023. This statement was made during Ambani’s speech at the 46th annual general meeting of Reliance Industries.

  • Nita Ambani steps down from RIL board

    Nita Ambani steps down from RIL board

    Mumbai: In a significant development, Nita Ambani has tendered her resignation from the board of Reliance Industries Ltd (RIL). The RIL board of directors has recommended the appointment of Isha Ambani, Akash Ambani, and Anant Ambani to fill key positions on the board. Nita Ambani, while stepping down from the board, will continue her role as the chairperson of the Reliance Foundation.

    Nita Ambani’s stepping down from the board doesn’t mark her departure from the Reliance fold. This maintains her pivotal role in the philanthropic and social initiatives of the conglomerate.

    The move is anticipated to have far-reaching implications for the company’s future strategies and direction.

  • ‘Our mission is to take the experience of IPL to cricket fans in every part of our country’: Nita Ambani

    ‘Our mission is to take the experience of IPL to cricket fans in every part of our country’: Nita Ambani

    Mumbai: Viacom18 plans to take India’s biggest sporting event the Indian Premier League (IPL) to every nook and corner of the country. It aims to make IPL available everywhere in India including the 60 million users that reside on free direct-to-home platform DD Free Dish.

    “Sports entertain us, inspire us and bring us together. Cricket and IPL personify the best of sport and the best of India, which is why we are proud to be deepening our association with this great game and this wonderful league. Just like with everything we do, our mission is to take the joyful experience of IPL to cricket fans wherever they are – in every part of our country and around the world,” said Reliance Industries director Nita Ambani.

    Viacom18 has acquired the rights to digitally stream Indian Premier League matches in the Indian sub-continent for the seasons from 2023 to 2027. It has also won the India digital rights for a special package of 18 games in every season. Globally, Viacom18 has won television as well as digital rights in three out of five international territories, including major cricketing nations.

     With its wide reach, strategic tie-ups and increasingly popular content bouquet, the digital platforms of Viacom18 are gearing up for leadership in India as well as with the Indian diaspora globally.

    In a statement, the company said it has state-of-the-art digital expertise to provide best possible user experience to hundreds of millions of Indians and global consumers.

    Its digital platforms will utilise a combination of top-class content as well as digital prowess through big data analytics and predictive algorithms to offer contextualised and relevant content to each consumer.

    This is the first major foray of the broadcaster into cricket. It holds the broadcast rights to FIFA World Cup Qatar, La Liga, Serie A and Ligue 1. It also offers badminton, tennis and basketball (NBA) via it’s channels. The addition of IPL makes Viacom18 a formidable sports broadcaster in the country.

    “This will be an exceptional opportunity for advertisers to reach a larger, younger,  relevant and highly-engaged audience. The targeting opportunities because of Viacom18’s strategic partnership with Jio will be unparalleled,” said the statement.

  • Mukesh Ambani keeps salary unchanged for 10th year in a row

    Mukesh Ambani keeps salary unchanged for 10th year in a row

    MUMBAI: Reliance Industries (RIL) chairman and India’s richest man Mukesh Ambani kept his annual salary capped at Rs 15 crore for the tenth year running. RIL’s annual report released on Thursday said Ambani’s decision to freeze his pay shows “his desire to continue to set a personal example for moderation in managerial compensation levels”.

    According to a report by news agency PTI, Ambani’s remuneration for 2017-18 included Rs 4.49 crore as salary and allowances. Commission, at Rs 9.53 crore, witnessed no alternation, while perquisites were reduced to Rs 27 lakh from Rs 60 lakh, with retirement benefits of Rs 71 lakh.

    Ambani, who has a net worth of $40.1 billion, took home a lesser pay than his cousins and RIL executive directors Nikhil Meswani and Hital Meswani . The duo earned Rs 19.9 crore each in the financial year 2017-18. In 2016-17, the Meswani brothers were paid Rs. 16.58 crore each.

    Ambani’s wife Nita Ambani earned Rs 6 lakh sitting fee and a commission of Rs 1.50 crore as compared to Rs 1.35 crore in 2016-17. Nita joined the RIL board as a non-executive director in 2014.

    The 61-year-old Ambani was ranked 19th globally in Forbes 2018 ‘World’s Billionaires’ list, moving up from the 33rd position he occupied last year.

  • ISL 2016 shows growth; final gets 41 million TV views

    ISL 2016 shows growth; final gets 41 million TV views

    MUMBAI: The third season of the Hero Indian Super League was one of the most watched and followed footballing properties in India in 2016. With eight teams vying hard and looking equal on the paper, it was set to be a thrilling contest on cards. Atletico de Kolkata won the equally fought final in a penalty shootout, defeating fellow finalists of 2014, Kerala Blasters at a packed Kochi Stadium.

    The final was seen by 54,000 fans in the stadium, while 41 million fans tuned in on television to follow the nail biting drama (BARC, CS4+, U+R, all Channels). The total viewership was a rise of 41 per cent as compared to the final of 2015, shattering all records on the TV viewership of the league in history.

    Numbers suggest that finalists’ were being ably supported by their respective states. In Kerala, the ISL final became the most viewed sporting event in 2016, eclipsing the 2016 T20 World Cup semi-final (India vs West Indies) and the Euro 2016 final. In West Bengal, the ISL final had a higher viewership that that of IPL 9 finals (BARC, CS 4+, U+R Average Impressions).

    With a total viewership of 216 million as compared to 207 million last year, it is easy to understand that the football league is growing steadily (BARC, CS4+, U+R). One of the One of the highlights of the season was the sharp increase in rural India viewership registering a cumulative figure of 101 million, indicating the widespread appeal of the sport. Furthermore, key metro markets like Mumbai and Chennai emerged as one of the top performers this season recording a surge of more than 50% over last year along with a cumulative 20 per cent spike in viewership in Tamil Nadu.

    Football Sports Development Ltd founder & chairperson Nita Ambani, optimistic about the rising popularity of the game in India, said, “The overwhelming response from fans is testament to the vision we have for the league, and it reaffirms our faith that the ‘Indian football is moving in right direction. The response from newer markets like Tamil Nadu and Mumbai, and further growth in established markets like West Bengal, Kerala etc shows the appetite for the sport. Stadium attendance, viewership numbers and growth on digital platform this season further encourages us to reset our benchmark for the season ahead.”

    The third season of ISL has recorded a surge of over 25 per cent in overall viewer engagement vis-à-vis ISL 2015. This showcases the enhanced quality of play complemented by new look graphics and the best of experts on the commentary panel, cutting across demographic boundaries and capturing the imagination of a diverse fan base.

    2016 edition also took the digital medium by storm, registering double view-time, which was 2.3 times over last year on both Hotstar and Jio platform combined. The phenomenon of the Hero ISLwas also visible at the stadiums throughout the season in all ISL club cities, with fan armies and football enthusiasts filling up an average of over 84 per cent seating capacity, the highest across all three seasons.

    Star India managing director Sanjay Gupta said, “The kick-off to the Hero ISL in 2014 signified the birth of a footballing nation. This is a long term journey however we are very encouraged by the incredible fan affinity and increase in following of the league and the sport in a short span of three years. We had dreamt of the day when Indian footballers would emerge as sporting heroes and this season of the Hero ISL has seen many new stars emerge. Further the quality of play and multi-lingual, high quality broadcast content has delivered record engagement levels amongst fans. The deeper penetration of the league into Urban and Rural India and the explosive growth of digital consumption augurs well for the future of football in India.”

  • ISL 2016 shows growth; final gets 41 million TV views

    ISL 2016 shows growth; final gets 41 million TV views

    MUMBAI: The third season of the Hero Indian Super League was one of the most watched and followed footballing properties in India in 2016. With eight teams vying hard and looking equal on the paper, it was set to be a thrilling contest on cards. Atletico de Kolkata won the equally fought final in a penalty shootout, defeating fellow finalists of 2014, Kerala Blasters at a packed Kochi Stadium.

    The final was seen by 54,000 fans in the stadium, while 41 million fans tuned in on television to follow the nail biting drama (BARC, CS4+, U+R, all Channels). The total viewership was a rise of 41 per cent as compared to the final of 2015, shattering all records on the TV viewership of the league in history.

    Numbers suggest that finalists’ were being ably supported by their respective states. In Kerala, the ISL final became the most viewed sporting event in 2016, eclipsing the 2016 T20 World Cup semi-final (India vs West Indies) and the Euro 2016 final. In West Bengal, the ISL final had a higher viewership that that of IPL 9 finals (BARC, CS 4+, U+R Average Impressions).

    With a total viewership of 216 million as compared to 207 million last year, it is easy to understand that the football league is growing steadily (BARC, CS4+, U+R). One of the One of the highlights of the season was the sharp increase in rural India viewership registering a cumulative figure of 101 million, indicating the widespread appeal of the sport. Furthermore, key metro markets like Mumbai and Chennai emerged as one of the top performers this season recording a surge of more than 50% over last year along with a cumulative 20 per cent spike in viewership in Tamil Nadu.

    Football Sports Development Ltd founder & chairperson Nita Ambani, optimistic about the rising popularity of the game in India, said, “The overwhelming response from fans is testament to the vision we have for the league, and it reaffirms our faith that the ‘Indian football is moving in right direction. The response from newer markets like Tamil Nadu and Mumbai, and further growth in established markets like West Bengal, Kerala etc shows the appetite for the sport. Stadium attendance, viewership numbers and growth on digital platform this season further encourages us to reset our benchmark for the season ahead.”

    The third season of ISL has recorded a surge of over 25 per cent in overall viewer engagement vis-à-vis ISL 2015. This showcases the enhanced quality of play complemented by new look graphics and the best of experts on the commentary panel, cutting across demographic boundaries and capturing the imagination of a diverse fan base.

    2016 edition also took the digital medium by storm, registering double view-time, which was 2.3 times over last year on both Hotstar and Jio platform combined. The phenomenon of the Hero ISLwas also visible at the stadiums throughout the season in all ISL club cities, with fan armies and football enthusiasts filling up an average of over 84 per cent seating capacity, the highest across all three seasons.

    Star India managing director Sanjay Gupta said, “The kick-off to the Hero ISL in 2014 signified the birth of a footballing nation. This is a long term journey however we are very encouraged by the incredible fan affinity and increase in following of the league and the sport in a short span of three years. We had dreamt of the day when Indian footballers would emerge as sporting heroes and this season of the Hero ISL has seen many new stars emerge. Further the quality of play and multi-lingual, high quality broadcast content has delivered record engagement levels amongst fans. The deeper penetration of the league into Urban and Rural India and the explosive growth of digital consumption augurs well for the future of football in India.”