ITV

Tag: R. Maheshkumar

  • IBDF board admits new members; gets Kevin Vaz as president

    IBDF board admits new members; gets Kevin Vaz as president

    MUMBAI: There’s quite a few new names sitting  atop the Indian Broadcasting & Digital Foundation following its 25th annual general meeting held in New Delhi earlier today.

    No surprises for guessing, Kevin Vaz who heads JioStar just below Uday Shankar was elected  as the president. He is also the chairman of Ficci’s media and entertainment committee. The AGM  also saw some newcomers make their way into the highest echelons of the advocacy body, the IBDF board: Prasar Bharati’s Gaurav Dwivedi, MMTV’s Jayant M. Mathew, TV Today’s Aroon Purie, JioStar’s Sumanto Bose,  and Kairali TV’s John Brittas. 
     

    theibdf office bearers

    Other senior folks  such as Culver Max Entertainment’s  recently appointed CEO Gaurav Banerjee, R. Mahesh Kumar, along with India TV boss Rajat Sharma  were  elected as vice-presidents.  I. Venkat was elected as the treasurer.

    The list of some of the board members includes: Rajat Sharma, India TV, I. Venkat, Eenadu TV, Kevin Vaz, JioStar, R. Mahesh Kumar, Sun Network, Gaurav Banerjee, Culver Max, Nachiket Pantvaidya, Bangla Entertainment, Punit Goenka, Zee Media, Ashish Sehgal, Zee Entertainment,  Sumanto Bose, JioStar and John Brittas, Kairali TV. 

    Rajat Sharma said that the IBDF will continue advocating for a regulatory framework that fosters innovation, supports creators, and ensures fair competition. “Together, we will drive the industry toward a sustainable and prosperous future,” he stated.

    Kevin Vaz  made his first address as the IBDF president highlighting that Indian content can gain international acclaim, further strengthening India’s soft power globally.

    “As we increasingly embrace technology to scale up, it is imperative that we democratize content creation so that it is not demographically or geographically limited. While India consumes content from anywhere, driven by the proliferation of 5G, smartphones, connected TVs and better pay TV infrastructure, we must ensure that opportunities to create professional content from locations beyond the current hotspots is a viable future for the industry,” he emphasised.  “The media and entertainment industry has a multiplier effect that extends to sectors like sports, creating significant opportunities for growth at scale. To ensure that this growth can be sustainable we need to look at business models rooted in equitable collaborations that foster value creation for all stakeholders across the ecosystem.”

  • Sun TV Network revenue at Rs 810.10 crore in Q1 FY22

    Sun TV Network revenue at Rs 810.10 crore in Q1 FY22

    Mumbai: Sun TV Network Ltd, reported revenue growth of 34 per cent (including IPL) at Rs 810.10 crore for the quarter ending 30 June compared to the corresponding quarter last year. The media company reported 93 per cent growth in advertising revenues at Rs 243.66 crore and profit after tax of 389.76 crore up by 38 per cent. EBITDA for the quarter stood at 484.97 crore up by 19 per cent.

    The company reported 23.5 million paid subscribers for its OTT platform Sun NXT at the end of the quarter, mostly driven by its telecom distribution partnerships.

    Sun TV is one of the largest television broadcasters in India. It operates satellite television channels across five languages of Tamil, Telugu, Kannada, Malayalam and Bangla, airs FM radio stations across India, owns the SunRisers Hyderabad cricket franchise of the Indian Premier League and the digital OTT platform Sun NXT.

    “The most important change that has happened in the current quarter ended 30 June is the change in the estimation of the useful life of our movies. As you know, we’ve been amortising it in full in the past. Now, beginning this year, we would amortise them over a useful life of four years, whereby 30 per cent reach will be written off in the first two years and 20 per cent reach in the last two years. As a result, our depreciation and amortisation chart are lower by Rs 70 crore. Though, it will have an effect for the first year, it will normalise over time. This is in line with the global best practice. Almost all the media companies which have huge investments in content and which content is used over foreseeable future, adopt time periods which are comparable to what we have implemented with an accelerated charge happening in the first half and a normal charge in the second half” Sun TV Network Ltd, managing director, R Maheshkumar said.