ITV

Tag: Q2 FY22

  • Netflix to launch cheaper ad-supported plan for early 2023

    Netflix to launch cheaper ad-supported plan for early 2023

    Mumbai: The streaming giant Netflix on Tuesday announced that it is targeting the launch of its ad-supported tier in the early part of 2023, in its letter to shareholders. The lower price advertising-supported offering will complement their existing plans that remain ad-free.

    The global streamer recently announced its deal with Microsoft as a technology & sales partner. “They are investing heavily to expand their multi-billion advertising business into premium television video, and we are thrilled to be working with such a strong global partner,” it said.

    The video-on-demand service is planning to launch its ad-supported tier in a handful of markets where advertising spend is significant. It expects to attract premium cost-per-mile (CPM) from brand advertisers.

    “Our advertising business in a few years will likely look quite different from what it looks like on day one,” it said. “Over time, it is to create a better-than-linear-TV advertisement model that’s more seamless and relevant for consumers, and more effective for our advertising partners. While it will take some time to grow our member base for the ad tier and the associated ad revenues, over the long run, we think advertising can enable substantial incremental membership (through lower prices) and profit growth (through ad revenues).”

    Netflix’s average revenue per member has grown at a five per cent compound annual rate from 2013 to 2021, hence the streamer feels it is the right time to give consumers more choice by offering a lower-priced subscription powered by advertisements.

    The service lost 0.97 million subscribers in April-June quarter less than it had forecasted (-2.0 million), bringing its total members to 220.67 million. Notably, Netflix lost subscribers in the United States-Canada (UCAN), Europe, Middle East and Africa (EMEA) and Latin America (LATAM), however, continued to add paid net additions of 1.1 million subscribers from Asia-Pacific and China (APAC).

    It reported APAC revenues over $900 million up by 23 per cent (excluding foreign exchange) year-on-year. It currently has 33.72 million subscribers in the region. Netflix forecasts paid net additions of 1.0 million in the next quarter.

    The company reported quarterly revenue of Rs 7970 million up by 8.6 per cent YoY. Its operating income stood at Rs 1578 million and net income at Rs 1441 million.

  • Zeel Q2 FY22: New content launches bolsters ad revenue growth

    Zeel Q2 FY22: New content launches bolsters ad revenue growth

    Mumbai: Zee Entertainment Enterprises Ltd (Zeel) announced its financial results for the second quarter FY 2022 ended on 30 September. The company reported 14.9 per cent revenue growth year-on-year (YoY) and 20.1 per cent domestic advertising revenue growth YoY.

    The company’s total revenues stood at Rs 1305 million which was up 17 per cent sequentially. Its EBIDTA was Rs 4121 million and its EBIDTA margins at 20.8 per cent. The company’s advertising revenues stood at Rs 10,893 million and subscription revenues at Rs 7,885 million. Domestic ad revenue grew on a quarter-on-quarter basis by 18.9 per cent. Subscription revenues were down marginally by 1.5 per cent YoY. The company indicated that delay in NTO 2.0 implementation continues to impact pricing. The new timeline for NTO 2.0 rollout was extended till 1 April 2022.

    The broadcaster saw its total TV viewership decrease slightly but grew its network viewership share by 70 bps on account of new show launches across all markets. It released 13 new shows and movies during the quarter. Zee TV, Zee Marathi, and Zee Tamil’s performance was soft during the quarter. The Bengali, Kannada, and Telugu channels posted a strong performance. Genre-wise news and movies led to lower contribution in overall viewership.

    The company reported 93.2 million global monthly active users (MAUs) for its streaming platform ZEE5. Zeel’s film production arm Zee Studios has a strong slate of movies ready for H2 FY22 across Hindi, Tamil, Telugu, Marathi, and Punjabi languages being planned for release.

    In an investor call, Zeel managing director and chief executive officer Punit Goenka shared an update on the merger between Zeel and Sony Pictures Networks India. He said, “After receiving in-principle approval from the board, the due diligence process has commenced and is in steady progress. We are confident that this process will be completed within the stipulated timelines or even before that. Post which we will move on to the next steps as mandated by the law.”

  • Siti Networks posts Rs 509 million operating EBITDA in Q2 FY22

    Siti Networks posts Rs 509 million operating EBITDA in Q2 FY22

    Mumbai: Multi-system operator (MSO) Siti Networks has released its consolidated audited financial results for Q2 FY22 ended on 30 September. The company has maintained operating EBITDA at Rs 509 million and its operating EBITDA margin expanded to 13.9 per cent.

    The company announced the launch of Siti Mitra mobile app for its 25000+ local cable operator partners. The app has a fully functional ‘Own Your Customer’ subscriber management system, allowing partners to have control of their business on their palms. The app is available on the Google Play store.

    Total revenue (excluding activation) increased to Rs 3672 million from Rs 3615 million in the previous quarter. The company’s subscription revenue remained essentially flat at Rs 2350 million. Siti Broadband, too, observed a base jump of 20 per cent year on year and seven per cent quarter on quarter to 2.19 lakh. Siti Broadband’s revenue increased 4.1 per cent over the previous quarter and 11 per cent YoY to Rs 288 million.

    “Siti’s continued focus on operational efficiencies and strict control over expenses has ensured that our operating EBITDA is Rs.509 million with 13.9 per cent operating EBITDA margins. Our total revenue also increased to Rs.3,672 million. Our push for SITI Broadband has ensured that our customer base and revenues are up 20 per cent and 11 per cent y-o-y, respectively,” said Siti Networks chief executive officer Anil Malhotra.

    He added, “We have always had our ears to the ground, and the launch of the Siti Mitra mobile app for our 25,000+ partners is a testament to that. The app has our fully functional ‘Own Your Customers’ subscriber management system, and now our partners will be able to manage their business from their mobile phones. The app is available on the Google Play Store.”

  • GTPL Hathway ISP business grew by 50% YoY in Q2 FY22

    GTPL Hathway ISP business grew by 50% YoY in Q2 FY22

    Mumbai: Digital cable TV and broadband service provider GTPL Hathway’s internet service provider (ISP) business grew by 50 per cent YoY, according to its financial results for Q2 FY2022. The company reported consolidated revenues of Rs 605.2 crore up by four per cent YoY.

    The company’s paying subscribers stood at 7.35 million out of which 2,75,000 are FTTX subscribers at the end of H1 FY22. It added 1,00,000 net broadband subscribers in H1 FY22. The broadband average revenue per user (ARPU) for Q2 FY22 stood at Rs 440 which is up by two per cent YoY.

    “GTPL is in a sweet spot for converting its strong existing CATV subscriber base of 10+ million households into its broadband subscribers directly or through operators. Deployed the latest GPON technology for providing high-speed and high-volume Broadband services in Gujarat. GTPL plans penetrate to other regions by upgrading to FTTX Solutions,” the company said in a statement.

    The company reported H1 2021 revenue at Rs 1215.9 crore an increase of 12 per cent YoY. Its ISP business revenue stood at Rs 100.6 crore for the quarter ended 30 September. The EBIDTA for the quarter stood at Rs 144.8 crore up by four per cent and profit after tax at Rs 43.3 crore.

    “GTPL Hathway continues to deliver on key KPIs during H1 FY22. The highlight of H1 FY22 performance was robust subscriber additions and subscription revenues for the broadband business, coupled with strong balance sheet and return ratios,” said GTPL Hathway managing director Anirudhsinh Jadeja. “The balance sheet remains strong owing to ‘Net Debt Free’ status leading to impressive ROCE and ROE of 33 per cent and 20 per cent, respectively as of 30 September. With the economy getting back to normalcy led by aggressive vaccination drive, the company is geared to strengthen its presence in the existing and new markets.”