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Tag: Rajiv Sharma

  • Airtel brings in Rajiv Sharma as head of investor relations

    Airtel brings in Rajiv Sharma as head of investor relations

    Mumbai: Bharti Airtel Ltd (Airtel) has brought Rajiv Sharma on board as head of investor relations, effective 1 October. He takes over from Komal Sharan, who is moving to a new role within the Bharti group.

    In his new role, Sharma will report to Airtel India and South Asia chief financial officer Badal Bagri. He will be responsible for ensuring that the telecom company is appropriately represented with investors, lenders, equity partners, and financial institutions.

    Welcoming Sharma on board, Airtel India and South Asia MD & CEO Gopal Vittal said, “I am confident his rich experience and deep understanding of the telecom industry will add immense value to our engagement with the investor and financial community. I wish Rajiv the very best in his role and look forward to working closely with him.”

    Sharma is a qualified chartered accountant with over 18 years of experience in capital markets, corporate strategy, consulting, IPOs, fundraising, and equity research. He joins Airtel from Spark Capital Advisors where he was director – investment banking & head – digital research. Previously, he also worked with companies such as SBICAP Securities, HSBC, and PWC.

  • Technology needs to be upgraded for quality storytelling

    Technology needs to be upgraded for quality storytelling

    KOLKATA: The Indian media and entertainment industry is standing at a point when the requirement for video content is, more or less, growing in tandem with the investment in it. While Indian producers are branching out into new types of content across genres, formats, they need to scale up their investment in technology.

    To deliberate upon this changing landscape, Indiantelevision.com hosted a virtual webinar on Friday themed ‘Accelerating the new age of content with technology,” and moderated by founder, CEO and editor-in-chief Anil Wanvari. At the beginning of the discussion, Wanvari elaborated why more focus is required on faster seamless content delivery in the emergence of various formats like HD, 4K, 4K HDR. He also mentioned that a new breed of machine called workstation has emerged which is being increasingly used in studios across the world to deliver on hard and extremely tough specifications that are demanded by platforms.

    Media Partners Asia vice president Mihir Shah agreed that technology is going to play an increasingly crucial role going forward. In terms of production, there is a lot of innovation that is yet to be seen on the online video side. While India has tried to emulate the west, we have only been replicating what’s successful on television and films. Hence, there are a lot of things to be done on the online video side where different streaming options are available, he opined.

    “Technology will be used widely as ever before with the online opportunity available right now and you will see a lot of interactive videos coming in, short videos coming in, different format, vertical videos, we have just touched the tip of the iceberg,” Shah stated.

    He also brought up the aspect of the gap in creating franchises as the audience is used to seeing a lot of daily soaps. If the country starts focusing on more franchises, more innovations will come around. He believes a lot of local franchises can be created and monetised by utilising technology.

    In a fireside chat during the webinar, Dell Technologies’ Dell Precision Workstations marketing consultant & product evangelist Suhas Pingat remarked upon the importance of using workstations and technology to create content. He stated that times are changing and 5G is going to be widespread in a period of 18 to 20 months.

    According to him, India is not behind as far as accepting content is concerned. There are some technologies that are superior in developed markets, among which is MoCap (motion capture), then there is virtual filming which is taking place. In the west, the adaptation of technology is progressing at a pace that far outstrips India, noted Pingat, although he believes the scenario is slowly changing with the rise of OTT platforms.

    However, broadcasters and content studios still have a lot to catch up on, said Pingat. Moreover, there is a need for change in the way content is given to consumers in India and we need to move far ahead, as far as adapting technology is concerned. He also elaborated on how Dell Technologies has a very industry-specific approach to the business ecosystem, with a large media and entertainment vertical. He also touched upon the topic of how Dell workstations are helping its partners in the domain from a technology standpoint.

    “These are exciting times ahead in terms of technology. Whatever is available abroad, globally, is available in India too, in terms of not only workstations but from an infrastructure standpoint as well.  That’s one pint which is very good with Dell. We are the oldest workstation brand. We do partner across industry platforms which would be ISPs, global customers. We have a separate work team that has been helping solve customers’ problems. We look forward to fantastic content being delivered by our great partners in the country. Look forward to more exciting immersive years ahead,” he detailed.

    Post this discussion, the webinar hosted an engaging session on the role of technology with eminent experts. The panel included Excel Entertainment CG supervisor Apul Mehta, Endemol Shine India chief operating officer Gaurav Gokhale, Hats Off Productions chairman and managing director JD Majethia, Contiloe Pictures CFO & Illusion Reality Studioz business head – animation & VFX Nitin Dadoo, Redchillies VFX technology head Rajiv Sharma, and Epic On chief operating officer Sourjya Mohanty.

    The experts came to the conclusion that innovation is key to implement new technologies at this point of time. The transformation journey has started already but a lot more needs to be done. Storytelling and execution need to be in sync with upgradation of technology. It is imperative now to leverage technology at its best because consumers are demanding more quality content, not only on OTT bit also on TV.  While media organisations are significantly upping their investment in content, there is no point in shying away from technology.

    Technology needs to be brought to speed in the country. The demand side constraints can be met by great content and marketing strategy but supply side constraints can be rectified only by technology. Moreover, if big tech companies can look at the media and entertainment vertical as an industry and offer a solution rather than a product, a sea change will take place.

  • Pay-per-view takes off in India, but has a long way to go

    Pay-per-view takes off in India, but has a long way to go

    KOLKATA: While the last year has seen the entry of new over-the-top (OTT) players, it has witnessed the burgeoning of new business models as well, pay-per-view being one of the most noticeable trends. A number of new entrants, along with some of the existing over-the-top players, launched this transactional model. Very recently, online ticketing player BookMyShow and telecom player Vi introduced their own on-demand services under the TVoD category.

    Despite it being the latest bandwagon, experts are sceptical about pay-per-view’s success in the market. For the value-conscious Indian viewers, who are much more inclined to pay for bundled catalogues, this model will tempt only a minuscule set of audiences. But with effective pricing and marquee content, pay-per-view may increase its attractiveness.

    Vi announced the launch of its pay-per-view streaming service, available on Vi Movies and TV app, in collaboration with Hungama Digital Media. Vi customers will be able to rent premium Hollywood movies at Rs 120 and others at Rs 60 for a period of 48 hours.

    Media expert Rajiv Sharma thinks content under this model should not disappear so soon. According to him, the model can work better if the library is phenomenal, and moreover, whatever is being picked up should be available for long term, at least for six months.

    While movie theatres being shut for a long time led to a line-up of movies pending releases, there is a huge backlog that will not hit theatres right now for multiple reasons. Hence, some of the pay-per-view platforms feel that consumers might shell out for watching movies at home, Elara Capital VP research analyst (media) Karan Taurani said. But he also pointed out that most Indians pay for cinemas considering it as an outing and for the overall experience. So, it can be challenging to get consumers to just pay for one content.  He also mentioned that the model has been tried and tested by DTH players but they have not been able to scale it up.

    ShemarooMe was one of the first players to launch a pay-per-view service ShemarooMe Box Office during lockdown. Zee Entertainment Enterprises Ltd rolled out Zee Plex in October. In early February, BookMyShow’s streaming service debuted under the TVoD model, offering 600 movie titles and 72,000 hours of content. Notably, BookMyShow Stream allows users to either buy or rent a movie and the price point ranges between Rs 40 to Rs 700. Some smaller regional players are also testing the waters with this model.

    Kuarte Digital’s Uday Sodhi noted that the pay-per-view model is not new in India. Earlier, telecom operators had tested this model or other aggregators like Apple also went for this pricing model, albeit OTT platforms have been trying it for the first time in the wake of Covid2019.

    “This model is still at a very nascent stage. Also, if you look at BookMyShow streaming service, this is more of an evolved ticketing system for movies. TVoD is a good proposition for live events, sports coupled with effective pricing. It is very unlikely for major OTT platforms to choose TVoD for mainstream entertainment content,” Sodhi added.

    However, according to Sharma, if pay-per-view is strategised properly, it will give users more flexibility and control over payout. An average user sometimes watches only one-two content in a month paying for the library. With a proper price gap, it might attract that part of the user base. Even so, every piece of content cannot be a marquee property, “killer content” is very rare, which is one of the biggest gaps for this model.

    Among the top players, SonyLIV is dipping its toe in the pay-per-view pool by introducing WWE to its viewers with the WWE Network pack curated specially for fans of pro wrestling. Most experts are of the view that the chances of major platforms exploring this model are very rare. Instead, they will look at innovative comprehensive pricing like Netflix did with its mobile only plan, Taurani stated. To reach critical mass, the subscription should be the focus area for bigger players as of now, experts believe. 

  • Is it all gloomy for independent OTT players?

    Is it all gloomy for independent OTT players?

    MUMBAI: Though everyone is ravenous to take a bite out of India's rich streaming phenomenon, it's not all hunky dory for independent players. Consumer acquisition, retention and chalking out a sustainable monetisation plan are tougher than they seem. While deep-pocketed giants may survive, the road is rocky for independent platforms. 

    The downfall of two ambitious players

    Towards the end of 2019, Hong Kong-based over-the-top (OTT) platform Viu shut down its India business. The company cited highly competitive nature and the requirement of heavy investment without a path to sustained monetisation. Viu’s downfall was followed by Singapore-based telecom company, Singtel-backed, Singapore-based HOOQ. The service, available across Singapore, the Philippines, Thailand, Indonesia and India, which was also backed by Warner and Sony, filed for liquidation last month in Singapore. HOOQ said in a statement that it had been unable to grow fast enough to keep up with global and regional rivals and also noted “significant structural changes” in the OTT video market in the five years since its launch.

    The statements of both Viu and HOOQ show the inability to grow a viable business model amid stiff competition. While the wave of online content started with small independent creators in the country, it's time for them to either join hands with bigger players or exit. Especially, when players like Netflix and Disney+Hotstar are earmarking billions for this market. Homegrown players are also investing highly. The sheer amount of content library, production quality along with smart UIs speak in their favour. 

    What lies ahead for independent players?

    “There is a global recession right now and these OTTs are vouching on a lot of these global fundings, private equity fundings. COVID-19 has a big impact and there will be a recession in many countries and lot of the funding activities will slow down. Because of the current crisis, if their mtrics like success rate, viewership, time spent etc., are not good, many OTTs will also shut down in near to medium term despite being well-funded. India is an extremely fragmented market. We have 35 plus OTTs causing all the more chances of many more shutting down,” Elara Capital VP – research analyst (Media) Karan Taurani says.

    SBICap Securities institutional equity research head Rajiv Sharma brings up three aspects. He talks about customer acquisition which is becoming an expensive exercise for independent OTT platforms with more serious players coming into the picture. He also adds that Netflix can amortise content produced in India in 130 markets. Broadcasters have catch-up TV content, the movies which they had acquired for the broadcasting business as a source of basic traffic for engagement.

    “Independent platforms have a small library, no access to other content or market and moreover, they are working on a small budget. Their mortality rate is high because users will watch something and delete it. So low stickiness means higher customer acquisition cost and whatever they are producing, they are not able to amortise it over a higher set of users. So per unit content cost or production cost is higher. These are the reasons we are seeing independent platforms struggling,” Sharma explains.

    Is it all gloomy for smaller and independent players?

    Platforms like ALTBalaji, Hoichoi are thriving without funding from any big network, broadcaster or tech giant. These two platforms have witnessed good uptake in users with an attractive content slate. Moreover, they have collaborated with existing rivals also to increase their reach and find an alternative source of revenue. While we tried to find what are the factors that help them to survive, both of the platforms cited the parent company’s long-term experience of producing content, hence understanding of consumer preference.

    “I think understanding of the customers is very important and having control over content is very important. Twenty five years of understanding consumers is very important because as we make a show or acquire a  movie, we exactly know what a consumer might want. We have been in the business long. It's not a question of money only. Another thing what works well for SVF is that we  have made 150 plus movies till now. We have relationships with all the producers of the business. So, when we wanted to license a movie, we could do it from every person in the industry. We had production experience, key understanding of content, relation with the industry and talents,” Hoichoi co-founder Vishnu Mohta says.

    “Being from the house of Balaji Telefilms, who have been catering to the audiences ever-changing preferences for over 25 years now, ALTBalaji has an advantage unlike no other of having a deep understanding and familiarity with the viewer’s consumption preferences. With content being our biggest differentiator, we have been catering to all kinds of audiences through our diverse content offerings spanning multiple languages. Moreover, Indian originals have picked up pace in the past few days as audiences are on the lookout for local relatable content and are spending more time online. With content being king, there is a growing acceptance amongst consumers to pay for unique narratives and good story telling which keeps them hooked to their screens,” Balaji Telefilms group COO and ALTBalaji CEO Nachiket Pantvaidya states.

    Yupp TV, another OTT platform which is tuning its business towards ed-tech direction in India, thinks that being an early mover, consolidation has helped it.YuppTV and YuppMaster founder and CEO Uday Reddy acknowledges, “ All the players who are in space are big broadcasters. They are already in the content space. They are just evolving from linear to digital. I don’t think many independent players are left now. If they don’t invest in capital, they won’t be able to sustain.”

    With the COVID-19 crisis, things are bound to change once the situation normalise.

  • Convergence, consolidation & collaboration to fuel growth of cable, broadcast & OTT sectors

    Convergence, consolidation & collaboration to fuel growth of cable, broadcast & OTT sectors

    MUMBAI: In 2019, the Indian cable, broadcast and OTT industry witnessed many fundamental changes from digital dynamics to behavioural change of broadcasters moving from B2B to B2C model to industry stakeholders adjusting to the new tariff order (NTO). Indiantelevision.com’s VBS 2019 provided a platform to the industry experts to discuss and address the key issues faced them. Industry doyens revealed that convergence, consolidation and collaboration are the three 'C's to fuel the growth of the industry.

    VBS 2019’s panel discussions on ‘Transforming the sector to fuel growth’ included Elara Capital VP-research analyst Karan Taurani, Shemaroo Entertainment chief operating officer Kranti Gada, BBC Global News South Asia distribution head Sunil Joshi, PwC India partner and leader- media, entertainment Raman Kalra along with moderator SBICAP Securities equity research head Rajiv Sharma.

    Sharma set the tone of the discussion by briefing the audience on the major issues faced by the industry's stakeholders like cable, DTH, broadcasters, OTT, consumers and regulators in 2019.

    Kalra said, “We have been talking about convergence for a very long time and consolidation will keep on happening if we are willing to provide relevancy to the consumer. In the entertainment media space it is important to find a model which is relevant at scale. But how do you make relevant at scale? The relevancy for scale will trigger the consolidation because it leverages number on the financial statements and on the balance sheets of the company. It brings about so many synergies to the business models to run profitable, long term and sustainable business.”

    Taurani shared his view on consolidation in the cable space. He said, “Firstly it is important to highlight that business dynamics are changing completely. Broadcasters have been used to the B2B model since inception but now we are moving to B2C kind of a model. Basically everyone is well aware that if we really want to move to next level on digital, scalability is a very big factor and OTT platforms just offering about 10, 15, 20 movies will not help. So, to achieve that scale we need to invest in content. Apart from driving the partnership with other DTH cos or MSOs, achieving the scale on the digital part is needed. So I think it would take some more for them to understand the market and move to the next level.”

    Gada believes it is a great time for the media industry. With the emergence of OTT, the industry has added one and a half hours of screen time on digital front along with the television screen. Therefore the engagement of the end consumer with the content or with media or films has increased multifold.

    Gada says, “With deep-pocketed players cost goes haywire because short-term profitability is not their outlook, maybe their content is not their mainstay investment. It is sometimes just for consumer stickiness."

    Joshi said that convergence is the mantra of the day. “We have broadcasters, DTH, cable, OTT, consumers and a regulator who are the stakeholders of the value chain. If we look at post NTO and market dynamics, OTT is being discussed so widely because of its crispness and on-point approach to the consumers. Most of the broadcasters have direct consumer reach on their OTT to take care of and keep the stickiness on the linear also both compliments.”

    “Going forward, television needs to learn from OTT on what is been offered. So that on a quality level, both competes and at the operational level both collaborate. We have seen the collaboration of distribution platform and OTT because of their synergy and potential to exploit the potential consumers. Though they are competing at some level they are collaborating as well,” added Joshi.

    The panellists also elaborated on the digital monetisation model. They believe that there are three ways to monetise on digital platforms. The first is the business model, second is consumer centricity and third is the experience. Consumer centricity focuses on investing in knowing consumers. The second point of experience focuses on delivering the right experience. With respect to the business model, one has to experiment with multiple business models.

    The panellists also dwelled on the importance of the subscription model as AVOD does not lead to profitability because of the delivery cost, customer acquisition cost etc.  

    Stating an example of TataSky's binge initiative, Gada urged MSOs to become digital distributors and come up with aggregated and discounted offering for the consumer and make it convenient for those who are struggling with five to eight OTT apps. Gada asked MSOs to apply similar principles they used to offer TV channels to come up with bouquets of digital channels.

    The panel also highlighted the surge in term of telcos spending towards OTT. The new emerging game-changers today are e-commerce, smart TV and VMC.

    Sixty per cent of the money on digital advertising spent between Facebook and Google network. But now that is changing and the share is moving more towards OTT. The panel discussion ended on a positive note expecting that share of digital advertising will be 20-30 per cent whereas video advertising will be 40 per cent plus.

  • Two new part-time members appointed to Telecom Regulatory Authority of India

    Two new part-time members appointed to Telecom Regulatory Authority of India

    NEW DELHI: Indian Institute of Technology Professor Dr. M. Jagadesh Kumar and former National Human Rights Commission secretary general Rajiv Sharma have been appointed part-time members of the Telecom Regulatory Authority of India (TRAI).

     

    The two members will hold office for a period of three years from the date on which they assume office or until they attain the age of sixty-five years, whichever is earlier.

     

    Orders to this effect were issued in exercise of powers under the Telecom Regulatory Authority of India Act 1997.

     

    A TRAI source told indiantelevision.com that the two persons have been appointed as members of the Authority’s top decision-making unit, and therefore will not be given specific assignments of telecom or broadcasting.

     

    Meanwhile, TRAI has already advertised for filling the post of chairman as the term of Dr Rahul Khullar is ending on 14 May. The chairperson is appointed for a term of three years or until the age of 65, whichever is earlier.

  • IDOS 2014: ‘Digitisation delay is good if industry fixes issues’

    IDOS 2014: ‘Digitisation delay is good if industry fixes issues’

    GOA: The cable TV industry, which had earlier expressed disappointment over the government’s decision to postpone cable TV digitisation in phase III and IV, now believes that delay in digitisation is good if the industry, after getting a breathing space, fixes various issues, which it witnessed in the phase I and II.

     

    The extension would not strain the financial health of the industry as the need of the hour is to see digitisation on track after the timeline shift and create value and increase the Average Revenue Per User (ARPUs).

     

    Some experts feel that the additional inventory carrying costs and investments in infrastructure that the industry is incurring now, would impact their topline and thus have a brunt on the bottomline.

     

    Also, with the stable government now at the centre led by NDA, media companies can raise capital and the industry is quite bullish about the valuation benchmark.

     

    The government had previously set a target of digitising the cable TV services in the entire country by December 2014. Information and Broadcasting Ministry recently issued a notification as per which the deadline for the areas which came in phase III was extended from 30 September  2014 to 31 December 2015 and phase IV for December 2016.

     

    “Delay is never good. But, if one implements the learning from the first two phases, it may have a positive impact. Phase I and II haven’t so far reaped any fruits with zero value creation. The players are still fixing billing and other issues,” says HSBC Analyst Telecom associate director Rajiv Sharma, during a panel discussion on ‘Ecosystem Economics of the Future’ in Goa at IDOS 2014.

     

    According to Exponentia Capital principal Neeraj Bhatia, the delay is a welcome development. “It was required considering the ground reality. The earlier deadline was impractical,” he adds.

     

    “The earlier phases involved capital expenditure as more revenues were flowing through the system. MSOs were collecting less and paying more, as a result of which they saw no net benefit. So we started to question the business model and whether digitisation had anything for MSOs,” opines Bhatia.

     

    “We are not ready for phase III and IV,” he informs.

     

    The delay has given a breathing space to the MSOs to figure out the next step. “One needs to take a stand on various economic issues. This includes gross billing among others which impact people,” says Axis Bank group head strategic corporate group Salil Pitale.

     

    Citing reasons for the problems faced in other phases, Sharma informs that the cable industry is a fragmented one with just six big MSOs, around 6,000 other MSOs and 70,000 LCOs.

     

    According to the experts, value creation comes from customer ownership and thus investors will continue to invest.

     

    The rollout of the next two phases, after the delay will be smoother as it could bring some consensus amongst stakeholders. In phase III and IV, the stakeholders should ensure that revenue comes from day one and not after two years, opines Sharma.

     

    “While there was a tug of war between the MSOs and LCOs in the earlier two phases that need not be the case going forward. Both need to look forward and pool money,” says Bhatia.

     

    The extension has also thrown an opportunity for MSOs to opt for voluntary digitisation, feel the experts.

     

    There are a few financial investors who are getting excited about the growth story that digitisation proposes. “Delay is good as it also allows the MSOs and LCOs to resolve the billing issue,” explains Bhatia.

     

    There are mixed opinions on the extension of digitisation deadline. The big question now is: ‘Can the cable TV industry fix the issues in the next one year by executing the lessons learnt?’