ITV

Tag: Revenue

  • Q3-2016; Advertising drives 9% YOY revenue growth at HT Media; radio revenue up 25%

    Q3-2016; Advertising drives 9% YOY revenue growth at HT Media; radio revenue up 25%

    BENGALURU: HT Media Limited (HT Media) reported seven per cent YoY growth in total income from operations (TIO) for the quarter ended 31 December, 2015 (Q3-2015, Q3-15, current quarter) at Rs 681.12 crore as compared to Rs 605.50 crore and a 13.2 per cent QoQ growth as compared to Rs 601.55 crore.

     

    The TIO growth was driven primarily by a 9.2 per cent YoY and 14.4 per cent growth in advertising revenues.

     

    HT Media’s radio segment (Fever 104 FM) reported a 25 per cent YoY increase in operating revenue to Rs 32.26 crore (4.7 per cent of TIO) as compared to Rs 28.81 crore (4.3 per cent of TIO) and grew 10 per cent QoQ as compared to Rs 29.34 crore (4.9 per cent of TIO).

     

    Note: (1) 100,00,000 = 100 Lakhs = 10 million = 1 crore

    (2) The figures mentioned in this report are consolidated figures unless stated otherwise.

     

    The company’s profit after tax (PAT) in Q3-2016 increased 12.4 per cent YoY to Rs 80.88 crore (11.9 per cent margin) as compared to Rs 63.97 crore (10.6 per cent margin) and was more than double (2.22 times) QoQ as compared to Rs 36.42 crore (6.1 per cent margin).

     

    Advertising and Circulation revenue

     

    HT Media says that Advertising Revenue grew by 9.2 per cent YoY in Qe-2016 to Rs 542.5 crore (76.6 per cent of TIO) as compared to Rs 496.7 crore (76.4 per cent of TIO) and increased 14.4 per cent QoQ as compared to Rs 475.2 crore (78.8 per cent of TIO).

     

    Circulation revenue in the current quarter increased 4.8 per cent to Rs 76.9 crore (10.9 per cent of TIO) as compared to Rs 75.4 crore (15.9 per cent of TIO) and grew 2.1 per cent QoQ as compared to Rs 75.4 crore (12.5 per cent of TIO).

     

    Let us see how the segments performed

     

    Three segments contribute to HT Media’s numbers – (1) Printing and publishing of newspapers and periodicals (Publishing) (2) Radio and (3) Digital.

     

    HT Media’s publishing segment reported 9.8 per cent YoY growth in revenue at Rs 607.29 crore (89.2 per cent of TIO) as compared to Rs 553.20 crore (91.4 per cent of TIO) and grew 12.9 per cent QoQ as compared to Rs 538.08 crore (89.4 per cent of TIO).

     

    The publishing segment reported 41.2 per cent higher YoY operating profit of Rs 110.82 crore as compared to Rs 78.49 crore and was 41 per cent more QoQ as compared to Rs 65.36 crore.

     

    HT Media has four FM radio stations – Fever 104 in Delhi, Mumbai, Bengaluru and Kolkata.

     

    Radio segment revenue numbers have been mentioned above. HT Media’s radio segment reported 21 per cent decline in operating profit at Rs 7.46 crore as compared to Rs 9.44 crore, but was 94.3 per cent more QoQ than of Rs 3.84 crore.

     

    The company’s digital segment reported 43.4 per cent YoY growth in revenue to Rs 38.21 crore (5.6 per cent of TIO) as compared to Rs 26.65 crore (4.4 per cent of TIO) and was 12.7 per cent higher QoQ as compared to Rs 33.91 crore (5.6 per cent of TIO).

     

    Digital segment reported lower YoY loss of Rs 11.07 crore as compared to Rs 1442 crore, and lower QoQ loss as compared to Rs 18.35 crore.

     

    The company reported unallocated losses of Rs 13.31 crore in Q3-2016; of Rs 12.13 crore in Q3-2015 and of Rs 15.40 crore in Q2-2016.

     

    Company Speak

     

    HT Media chairperson and editorial director Shobana Bhartia said, “We are happy to report a strong quarter of growth across all our core businesses on the back of an increase in advertising spends during the festive season. Growth in revenue and our continuing focus on costs have resulted in higher profitability. Our Hindi business continues to grow profitably; HT Mumbai & HT Delhi businesses saw year-on-year revenue growth; we successfully re-launched the Chennai radio station; and our digital businesses have reduced losses even as they have grown revenues. With momentum on our side, we expect to close the financial year on a strong note. The company is well positioned to seize any opportunity that comes its way.”

  • Q4-2015: Verizon reports 5.8 million Fios video connections

    Q4-2015: Verizon reports 5.8 million Fios video connections

    BENGALURU: US communications major Verizon, Inc., reported 5.8 million subscribers for its Fios wireline video services for the quarter and year ended 31 December, 2015 (Q4-2015, current quarter, FY-2015, current year). The company reported an increase of 20,000 net Fios wireline video services subscribers in the quarter. Verizon also added 99,000 new Fios internet wireline connections in Q4-2015 taking the total to seven million.

     

    The company says that Fios wireline internet connections increased 6.8 per cent YoY and Fios video connections increased 3.2 per cent YoY. For FY-2015, more than 70 per cent of consumer Fios internet customers subscribed to data speeds of 50 megabits per second or higher. Verizon says that customer interest continued to grow for Custom TV, which represented about one-third of Fios video sales in Q4- 2015.

     

    The company says that Q4-2015 wireline consumer revenues were $4.1 billion, an increase of 2.6 per cent compared with Q4- 2014. Fios revenues represented 80.4 per cent of the total. Comparing Q4-2015 with Q4-2014, total Fios revenues grew 6.8 per cent, to $3.5 billion, and consumer Fios revenues grew 6.6 per cent. Wireline operating income margin was 7.3 per cent in Q4- 2015, up from 4.4 per cent in Q4- 2014. Segment EBITDA margin (non-GAAP) was 24.2 per cent in Q4-2015, compared with 23.9 per cent in the corresponding quarter of last year.

     

    “In 2015, Verizon delivered strong and balanced results in a dynamic competitive environment while returning more than $13.5 billion to shareholders. At the same time, Verizon built and acquired next-generation network capabilities that position the company to be an innovator in the digital-first mobile world in 2016 and beyond,” said Verizon chairman and CEO Lowell McAdam.

     

    Overall revenues in Q4-2015 were $34.3 billion, a 3.2 per cent increase compared with Q4-2014. For the full year, Verizon reported total consolidated revenues of $131.6 billion. FY-2015 revenues grew 3.6 per cent, compared with FY-2014. Current-quarter and third-quarter revenues include results from AOL. New revenue streams from IoT grew, with revenues of approximately $200 million in Q4- 2015 and about $690 million for FY-2015. This is a year-over-year increase of 18 per cent, says the company.

     

    Verizon’s other segment, wireless, reported total revenues of $23.7 billion in Q4-2015, up 1.2 per cent compared with Q4-2014. Service revenues totalled $17.2 billion, down 5.6 per cent year over year. Over the same period, equipment revenues increased to $5.4 billion, up from $4.2 billion, as more customers chose to buy new devices with instalment pricing. For the year, total revenues were $91.7 billion, a 4.6 per cent increase compared with 2014.

                   

    Verizon Wireless reported 1.5 million retail postpaid net additions in Q4- 2015 and 4.5 million for the full year. These net additions do not include any wholesale or IoT connections.

     

    The company says that customer retention remained high, with retail postpaid churn at a low 0.96 per cent in Q4-2015, a year-over-year improvement of 18 basis points. Churn was also 0.96 per cent for the year, an improvement of 8 basis points from full-year 2014.

     

    Verizon added 906,000 4G smartphones to its postpaid customer base in Q4-2015. Postpaid phone net adds totalled 449,000 as net smartphone adds of 713,000 were partially offset by a net decline of basic phones. Tablet net adds totalled 960,000 in the quarter, and net prepaid devices declined by 157,000. At year-end 2015, the company had 112.1 million retail connections, a 3.6 per cent year-over-year increase, and 106.5 million retail postpaid connections, a 4.4 per cent year-over-year increase.

  • Q4-2015: Verizon reports 5.8 million Fios video connections

    Q4-2015: Verizon reports 5.8 million Fios video connections

    BENGALURU: US communications major Verizon, Inc., reported 5.8 million subscribers for its Fios wireline video services for the quarter and year ended 31 December, 2015 (Q4-2015, current quarter, FY-2015, current year). The company reported an increase of 20,000 net Fios wireline video services subscribers in the quarter. Verizon also added 99,000 new Fios internet wireline connections in Q4-2015 taking the total to seven million.

     

    The company says that Fios wireline internet connections increased 6.8 per cent YoY and Fios video connections increased 3.2 per cent YoY. For FY-2015, more than 70 per cent of consumer Fios internet customers subscribed to data speeds of 50 megabits per second or higher. Verizon says that customer interest continued to grow for Custom TV, which represented about one-third of Fios video sales in Q4- 2015.

     

    The company says that Q4-2015 wireline consumer revenues were $4.1 billion, an increase of 2.6 per cent compared with Q4- 2014. Fios revenues represented 80.4 per cent of the total. Comparing Q4-2015 with Q4-2014, total Fios revenues grew 6.8 per cent, to $3.5 billion, and consumer Fios revenues grew 6.6 per cent. Wireline operating income margin was 7.3 per cent in Q4- 2015, up from 4.4 per cent in Q4- 2014. Segment EBITDA margin (non-GAAP) was 24.2 per cent in Q4-2015, compared with 23.9 per cent in the corresponding quarter of last year.

     

    “In 2015, Verizon delivered strong and balanced results in a dynamic competitive environment while returning more than $13.5 billion to shareholders. At the same time, Verizon built and acquired next-generation network capabilities that position the company to be an innovator in the digital-first mobile world in 2016 and beyond,” said Verizon chairman and CEO Lowell McAdam.

     

    Overall revenues in Q4-2015 were $34.3 billion, a 3.2 per cent increase compared with Q4-2014. For the full year, Verizon reported total consolidated revenues of $131.6 billion. FY-2015 revenues grew 3.6 per cent, compared with FY-2014. Current-quarter and third-quarter revenues include results from AOL. New revenue streams from IoT grew, with revenues of approximately $200 million in Q4- 2015 and about $690 million for FY-2015. This is a year-over-year increase of 18 per cent, says the company.

     

    Verizon’s other segment, wireless, reported total revenues of $23.7 billion in Q4-2015, up 1.2 per cent compared with Q4-2014. Service revenues totalled $17.2 billion, down 5.6 per cent year over year. Over the same period, equipment revenues increased to $5.4 billion, up from $4.2 billion, as more customers chose to buy new devices with instalment pricing. For the year, total revenues were $91.7 billion, a 4.6 per cent increase compared with 2014.

                   

    Verizon Wireless reported 1.5 million retail postpaid net additions in Q4- 2015 and 4.5 million for the full year. These net additions do not include any wholesale or IoT connections.

     

    The company says that customer retention remained high, with retail postpaid churn at a low 0.96 per cent in Q4-2015, a year-over-year improvement of 18 basis points. Churn was also 0.96 per cent for the year, an improvement of 8 basis points from full-year 2014.

     

    Verizon added 906,000 4G smartphones to its postpaid customer base in Q4-2015. Postpaid phone net adds totalled 449,000 as net smartphone adds of 713,000 were partially offset by a net decline of basic phones. Tablet net adds totalled 960,000 in the quarter, and net prepaid devices declined by 157,000. At year-end 2015, the company had 112.1 million retail connections, a 3.6 per cent year-over-year increase, and 106.5 million retail postpaid connections, a 4.4 per cent year-over-year increase.

  • India set to be 7th biggest advertisement market by 2020 : Magna Global report

    India set to be 7th biggest advertisement market by 2020 : Magna Global report

    MUMBAI: In its latest report on the global advertising marketplace, Magna Global estimates that media owner advertising revenues grew by +3.2 percent in 2015 to $503 billion. This is lower than the previous forecast (+3.9 percent in June 2015) and represents a slowdown compared to the 2014 growth (+4.9 percent).

     

    In 2016, advertising revenues will be boosted by economic stabilization and the incremental spending generated around non-recurring even-year events (US Presidential and General elections, UEFA Football championship in Europe, Summer Olympics in Brazil). Magna Global is thus predicting ad sales to grow by +4.6 percent, marginally less than its previous forecast. Neutralizing the impact of non-recurring events (NREs) in 2014, 2015 and 2016 (generating approximately 0.9 percent of extra growth in even-numbered years), the global ad market would have grown by +4.1 percent in 2015 and +3.7 percent in 2016, which suggest no real 2016 acceleration in the underlying ad demand, beyond the cyclical drivers.

    In terms of geographies, Asia-Pacific emerged as the most dynamic region with a growth rate of 6.5 per cent. As China is slowing down (slightly), India has become the most dynamic economy among BRICs and among all the large nations monitored by Magna. Real DGP grew by 7.3 per cent in 2015 and will grow again by 7.5 per cent in 2016 according to the IMF. In that context advertising spending grew by 16.3 per cent in 2015 to approximately $8 billion allowing India to become the 12th biggest ad market in the world at the expense of Russia.

    Looking at India specifically, Magna reports that advertising revenue will increase by Rs 68 billion (Rs 6,800 crore) and is expected to touch Rs 487 billion (Rs 48,700 crore) in 2015. Television revenue on the back of increased volume will add +18.5 percent (December 2014 +11.9 percent) to reach Rs 200 billion (Rs 20,000 crore). While the television market’s share is up by a percentage point (41 per cent), print goes down from 41 per cent to 38 per cent to touch Rs 183 billion  (Rs 18,300 crore) with a growth of 7.7 per cent. In 2016 television and print is estimated to grow at +15.1 percent and 8.2 per cent respectively.

    Digital formats will continue to grow the maximum at 49 percent to touch Rs 57 billion (Rs 5,700 crore), increasing their market share to 12 per cent. Ad sales generated from video and social increasingly will be through mobile impressions while the desktop in the near future will still be the domain for search and display. Share of mobile will increase from 32 per cent to close to half the pie in 2016.

    Newer formats and revenue streams after Twitter and Instagram opening up new advertising and influencer management platforms, bandwidth expansion through 4G launch and traditional advertisers increasing their digital budgets, will contribute to the growth of 67.3 per cent in 2016.

    Radio, with a market share of 4 percent will also grow at 14 per cent in 2015. Through the expansion of foot print, and there by volume, is estimated to add 16 per cent in 2016. Last but not the least, OOH will grow at 11.9 percent in 2015 and by another 10.4 per cent in 2016.

     

    Magna Global estimates total advertising revenue to touch Rs 576 billion (Rs 57,600 crore) in 2016. The T20 World Cup, encouraging response from audiences to non-cricketing leagues, state elections, 4G launch are some of the drivers for the advertising economy in 2016 in India. E-commerce will continue to pursue GMV’s, most action will be seen in the telecom sector followed by auto and FMCG advertising.

     

    Digital television and expansion of the measurement panel will allow advertisers to reach more consumers and broadcaster to better monetize their audience in 2016. While so far India is bucking the global trend of declining spends on Print by growing at a high single digit rate, Digital market shares are projected to equal Print by 2020.

     

    Hope 2016 round of data will get the currency out of the data dark period and aid the category to fight market share erosion. The second round of the Phase III auction, commissioning of the new stations won in the first round of bidding will keep radio top of mind.

  • Q3-2015: Discovery’s US Networks mitigate International Networks revenue drop due to forex

    Q3-2015: Discovery’s US Networks mitigate International Networks revenue drop due to forex

    BENGALURU:  Discovery Communications, Inc. (Discovery) reported a 0.7 per cent drop in revenue in the quarter ended 30 September, 2015 (Q3-2015, current quarter) at $1557 million as compared to the $1568 million in the corresponding year ago quarter. Its US networks reported eight per cent growth in revenue to $781 million (50.1 per cent of Total Revenue or TR) in the current quarter as compared to the $723 million (46.1 per cent of TR) in Q3-2014 and hence mitigated the nine per cent drop in international Networks revenue. The company’s International Network revenue in the current quarter declined to $740 million (47.5 per cent of TR) from $813 million (51.8 per cent of TR) in the corresponding quarter of last year. Discovery says that revenue at its International Networks declined primarily due to currency effects. 

     

    Discovery’s Adjusted Operating Income Before Depreciation and Amortization( (OIBDA) decreased nine per cent to $576 million, as four per cent growth at US Networks was more than offset by a 21 per cent decline at International Networks, primarily due to currency effects, and a small operating loss at ‘Education’ and ‘Other’.

     

    “Discovery’s unique portfolio of assets and global brands drove yet another quarter of strong worldwide viewership and financial results,” said Discovery president and CEO David Zaslav. “Discovery is like no other media company, propelled by our unmatched global infrastructure, local leadership, efficient global content model and sturdy position in the US, and we are confident in our ability to drive near and long-term growth and shareholder value.”

     

    Basic and dilute Earnings per share (EPS) in the current quarter increased to $0.43 as compared to the $0.41 in Q3-2014.

     

    US Networks

     

    The above mentioned US Networks revenue growth in the current quarter was driven by 12.3 per cent growth in Distribution and 5.7 per cent growth in Advertising revenues. US Networks Distribution revenue increased to $357 million in the current quarter as compared to the $318 million in Q3-2014. Discovery says that Distribution revenue growth was primarily driven by higher rates and the consolidation of Discovery Family.

                                                                                                                                                                  

    US Network’s Advertising revenue in Q3-2015 increased to $410 million as compared to the $388 million in the corresponding year ago quarter. The company says that Advertising revenues increased primarily due to higher pricing.

     

    US Networks adjusted OIBDA increased four per cent to $443 million (56.7 per cent margin) in the current quarter from $426 million (58.9 per cent margin) in Q3-2014. Excluding the consolidation of Discovery Family, adjusted OIBDA was relatively flat, as revenue growth was offset by an 11 per cent increase in operating expenses, mainly due to higher content amortization and marketing costs.

     

    International Networks

     

    Adjusted OIBDA of the segment declined 21.3 per cent to $218 million (29.5 per cent margin) in Q3-2015 from $277 million (34.1 per cent margin) in Q3-2014. As mentioned above, International Networks revenue and adjusted OIBDA declines in the current quarter were due to changes in foreign currency exchange rates.

    International Networks Distribution revenue declined 2.6 per cent in the current quarter to $419 million from $430 million in Q3-2014. International Networks Advertising revenue in Q3-2015 declined 14.2 per cent to $289 million from $337 million in the corresponding quarter of last year.

     

    Discovery says that excluding currency effects and the impact of Eurosport and SBS Radio, total revenues were up nine per cent. Distribution revenues, excluding the impact of Eurosport and currency effects, grew eight per cent mainly from increased subscribers and rates in Latin America as well as increased subscribers in CEEMEA. Advertising revenues, excluding the impact of Eurosport, SBS Radio and currency, were up 12 per cent, primarily due to higher volume and prices in Latin America and higher ratings, prices and volume in Southern Europe.  Other revenues, excluding the impact of Eurosport, SBS Radio and currency, decreased $2 million, primarily due to lower program sales. 

     

    The company informs that excluding the impact of Eurosport, SBS Radio and currency, Adjusted OIBDA was up four per cent, reflecting the nine per cent revenue growth partially offset by a 13 per cent increase in operating expenses. The higher operating expenses were primarily due to increased content expenses and personnel costs.

     

    Education and Other

     

    Education and Other revenue for Q3-2015 increased by $1 million. Adjusted OIBDA decreased by $8 million compared to Q3-2014 due to additional investments in education primarily related to digital textbooks, higher production costs associated with greater utilisation of our in-house production companies, and higher personnel costs.

     

    The segment reported revenue of $36 million in the current quarter as compared to $35 million in Q3-2014. Adjusted OIBDA in Q3-2015 was negative $5 million as compared to positive adjusted OIBDA of $3 million in Q3-2014.

     
  • Arasu reports Rs 181.91 crore revenue in 2014-15

    Arasu reports Rs 181.91 crore revenue in 2014-15

    MUMBAI: J. Jayalalithaa owned Tamil Nadu Arasu Cable TV Corporation’s (TACTV) revenues have seen an upward trend after it was revived by the present AIADMK regime. The multi system operator (MSO) has reported revenue of Rs 181.91 crore in 2014-15 from Rs 2 crore it had reported in 2010-2011.

     

    As per the Information Technology Department policy note tabled in the State Assembly, Arasu’s revenue rose by 64.3 per cent between 2011-2012 and 2014-15, in view of growing subscriber base, a PTI report said. The MSO had reported revenue of Rs 64.8 crore in 2011-12. 

     

    The increase in revenue, as per the report, was due to increasing subscriber base and tapping revenues from private local channels.

    While the MSO has so far not been granted the licence to operate in the DAS areas, its cable subscribers have grown manifold. Arasu, which in September 2011 had 4.94 lakh subscribers in Tamil Nadu, currently serves 70.52 lakh subscribers through 26,246 local cable operators (LCOs). 

     

    Additionally, realizing the need for having a broadband base in order to grow the average revenue per user (ARPU), Arasu entered into a memorandum of understanding (MoU) with RailTel Corporation for providing broadband and internet services through LCOs. 

     

    As per the PTI report, the Department of Telecommunications under the Ministry of Communication and Information Technology has granted the Unified License—ISP Category ‘B’ authorisation for offering the broadband and internet services.

     

    As a pilot project, around 1000 internet connections, through 35 LCOs have been provided and the service quality is being closely monitored. The government is taking steps to popularise internet service through LCOs in order to increase connections in the state.

  • DD operational costs more than double its revenue till Oct in 2014-15

    DD operational costs more than double its revenue till Oct in 2014-15

    NEW DELHI: Doordarshan earned revenue of Rs 525.09 crore up to October 2014, but its operational costs during 2014-15 up to the same month was Rs 1169.58 crore.

    According to Prasar Bharati sources there has been some increase in the operational cost of Doordarshan due to various factors such as hike in salary, widening the eligibility for air travel entitlement, payment of tuition fee, leave encashment with LTC, Modified Assured Career Progression, etc. in the wake of implementation of recommendations of the Sixth Central Pay Commission.

    The operational cost of DD was Rs 1945.84 crore as against revenue of Rs 1145.44 crore for 2013-14, while the operational cost was Rs 1883.19 crore as against revenue of Rs 1138.23 crore in 2012-13.

    Sources informed Indiantelevision.com that Prasar Bharati strictly follows austerity measures and other economy instructions issued by the Finance Ministry from time to time for reducing operating expenses.

    The source added that the pubcaster had been striving hard to maximise revenue generation by adopting measures like aggressive marketing strategy, appropriate utilisation of spare infrastructure available with DD, content improvement, introduction of Direct To Home (DTH) services, sharing of towers etc.

    In accordance with a Cabinet approval on 14 September 2012, the Government agreed to provide 100 per cent expenses towards salary and salary related expenses during the years from 2012-13 to 2016-17.

     

  • Prime Focus Q1-2015 revenue up 78%, loss widens to Rs 22 crore because of global integration process

    Prime Focus Q1-2015 revenue up 78%, loss widens to Rs 22 crore because of global integration process

    BENGALURU: Prime Focus Limited (PFL) reported 78.3 per cent growth in Income from Operations (TIO) in the quarter ended 30 September 2015 (Q1-2015, current quarter) to Rs 350.17 crore from Rs 196.38 crore (quarter ended 30 September 2013, or Q2-2014) and 76.6 per cent more than the Rs 199.5 crore in Q5-2014 (q-o-q).

    Notes: (1) 100,00,000 = 100 lakh = 10 million =1 crore

    (2) The company had filed results for a15 month period ended 30 June 2014, hence comparison is being done between Q1-2015 and Q2-2014 as well as Q5-2014 (quarter ended 30 June 2014).

    The company’s loss widened to Rs 22.02 crore in Q1-2015 from the Rs 8.78 crore in Q5-2015. The company had reported a profit of Rs 21.34 crore (10.9 per cent of TIO) in Q2-2014. PFL, in its earnings release, says that loss for the quarter has risen to Rs 22.02 crore because margins have been impacted primarily due to seasonal effects and due to significant duplication of costs in the creative services business in the first quarter post-merger. The company has initiated a global Integration process at its London, Vancouver and Indian facilities across both these entities. Consequently, the effects of the first phase of one time integration costs are also reflected in the financials claims PFL.

    Let us look at the other numbers reported by PFL in Q1-2015

    The company’s total expenditure (TE) in Q1-2015 at Rs 385.6 crore (110.1 per cent of TIO), which was more than double (2.15 times) the Rs 179.42 crore (91.4 per cent of TIO) in Q2-2014 and 80 per cent more than the Rs 214.52 crore (107.5 per cent of TIO) in Q5-2014.

    Figures A and B below show PFL’s major expense heads. As is obvious, a major expense head for the company is employee benefit expense or EBE.

    PFL’s EBE in Q1-2015 at Rs 232.77 crore (60.4 per cent of TIO) was almost triple (2.91 times) the Rs 79.84 crore (40.7 per cent of TIO) in Q2-2014 and more than double (2.1times) the Rs 111.50 crore (55.9 per cent of TIO) in Q5-2015. Fig B indicates that EBE also shows a linear upward trend in terms of percentage of TIO over the seven quarters starting Q4-2013 until the current quarter Q1-2015.  EBE has been the highest in Q1-2015, both in terms of absolute rupees and in terms of percentage of TIO during the period under consideration.

     Finance and Interest cost in Q1-2015 at Rs 15.84 crore (4.25 per cent of TIO) was 42.8 per cent more than the Rs 11.09 crore (5.6 per cent of TIO) in Q2-2014 and 9.5 per cent less than the Rs 17.5 crore (8.8 per cent of TIO) in Q5-2015.

    PFL executive chairman and group CEO Namit Malhotra said, “It has been an eventful quarter for us as a Group, where PFW (Prime Focus World) completed the merger with Double Negative (D-Neg) which we all are very excited about. At the same time, we initiated a significant integration and consolidation exercise across our global footprint.”

    “These extra ordinary onetime costs juxtaposed with seasonally the slowest quarter in the Industry has had

    a major impact on our bottomline. The integration process with D-Neg has started well with the strategic assumptions playing out as expected. Post D-Neg integration, we are proud to announce that we have now become a fully integrated Tier I provider of creative services solutions globally. Our focus on cost stays high – we have shut down our London and Vancouver VFX operations in PFW. The RMW’s FMS business merger is awaiting regulatory

    accelerated growth path we are extremely positive approval post which we expect to complete the transaction expeditiously. PFT is witnessing increasing traction for its products in the International markets and we are very excited about the growth opportunities there in addition to the continued momentum in India. With all our businesses on an accelerated growth path, we are very excited about the future, as you look beyond the one time integration costs, there are significant post-merger revenue and margin enhancement opportunities ahead,” added Malhotra.

     

    Click here to read full unaudited results

  • MGM Holdings revenue down, income up in Q3-2014

    MGM Holdings revenue down, income up in Q3-2014

    BENGALURU: MGM Holdings Inc (MGM) reported 4 per cent drop in revenue to US$ 233.47 million in Q3-2014 from US$ 242.90 million in Q3-2013. Income for the period rose 72 per cent to US$ 28.59 million in Q3-2014 from US$ 16.59 million in Q3-2013.

     

    Here below are edited excerpts of MGM’s financial report for the quarter ended 30 September 2014.

     

    MGM says that as expected, revenue was lower due to the significant revenue it generated from its franchise film, Skyfall, which began its worldwide pay television and SVOD distribution in the prior year’s third quarter. This was largely offset by revenue performance in several areas in the current year’s third quarter, including higher revenue from MGM’s home entertainment distribution business, led by the worldwide distribution of RoboCop, plus higher revenue from its successful new television content and incremental revenue from previously released film content.

     

    Theatrical Revenue

     

    MGM’s Worldwide theatrical revenue was US$ 6.5 million for the three months ended 30 September 2014, an increase of US$ 3.9 million as compared to US$ 2.6 million for the three months ended 30 September 2013.

     

    Theatrical revenue for the current year’s third quarter primarily included international revenue for Hercules from certain territories where MGM controls the distribution rights. However, it did not recognise a substantial portion of the worldwide theatrical revenue for If I Stay, Hercules and 22 Jump Street, which are accounted for on a net basis after deduction of theatrical advertising and other related distribution costs. Net revenue from co-produced films is classified as other revenue from film and television content (see below). In comparison, theatrical revenue for the prior year’s third quarter primarily included the tail-end of the international theatrical distribution of The Hobbit: An Unexpected Journey.

     

    Home Entertainment

     

    Worldwide home entertainment revenue was US$ 41.7 million for the three months ended 30 September 2014, an increase of US$ 7.3 million as compared to US$ 34.4 million for the three months ended 30 September 2013. Home entertainment revenue increased in the current year’s third quarter due to the worldwide home entertainment distribution of RoboCop, which commenced in June 2014, plus the continued international distribution of The Hobbit: The Desolation of Smaug. In comparison, MGM did not have a significant home entertainment release in the prior year’s third quarter, which primarily included revenue from the continued international home entertainment distribution The Hobbit: An Unexpected Journey and Skyfall worldwide. The company says that it is also keenly focused on strategies to maximise home entertainment revenue for its library, including targeted promotions such as the MGM 90th anniversary promotion in the current year. In addition, it has a steady pipeline of new film and television content that continues to generate home entertainment revenue, including recently released titles such as The Hobbit: An Unexpected Journey internationally, Carrie, Skyfall and its successful television series, Teen Wolf and Vikings, which have performed well in both physical home entertainment and EST.

     

    Television Licensing

     

    Worldwide television licensing revenue was US$ 150.6 million for the three months ended 30 September 2014, a decrease of US$ 15.2 million as compared to US$ 165.8 million for the three months ended 30 September 2013. Television licensing revenue was lower in the current year’s third quarter primarily due to significant revenue from Skyfall in the prior year’s third quarter, including its domestic pay television premiere on Epix and its initial pay television and SVOD availabilities in several territories internationally. The prior year’s third quarter also included the initial international television licensing of The Hobbit: An Unexpected Journey. Partially offsetting this decline was higher revenue from new television content in the current year’s third quarter, which primarily included MGM’s continued international television licensing of three successful current television series, Teen Wolf, Vikings and Fargo. In addition, MGM says that it generated revenue from several new film releases, including the initial international pay television and SVOD availabilities of The Hobbit: The Desolation of Smaug, the domestic pay television premiere of Carrie on Epix, and VOD revenue for RoboCop.

     

    Other Revenue

     

    Other revenue from film and television content was US$ 13.6 million for the three months ended 30 September 2014, a decrease of US$ 10.7 million as compared to US$ 24.3 million for the three months ended 30 September 2013. Other revenue primarily included net revenue for MGM’s share of the distribution proceeds earned by its co-production partners for co-produced films for which its partners control the distribution rights in various distribution windows, including theatrical, home entertainment, television licensing and ancillary businesses. Net revenue from co-produced films is impacted by the timing of when a film’s cumulative aggregate revenues exceed its cumulative aggregate distribution fees and expenses. The decrease in the current year’s third quarter primarily reflected a higher number of titles moving through first-cycle distribution windows for which MGM record’s revenue on a gross basis as opposed to a net basis.

     

    Ancillary Businesses

     

    Total revenue from MGM ancillary businesses, which include MGM branded television channel operations, interactive gaming, consumer products, music performance and other revenue, was US$ 21.1 million for the three months ended 30 September 2014, an increase of US$ 5.3 million as compared to US$ 15.8 million for the three months ended 30 September 2013. This increase was primarily due to the timing of revenue from MGM branded television channels.

     

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  • Mukta Arts revenue, loss down in Q2-2015

    Mukta Arts revenue, loss down in Q2-2015

    BENGALURU: Mukta Arts Limited (MAL) reported lower Total Income from Operations (TIO) of Rs 23.95 crore in Q2-2015 versus the Rs 24.99 crore in the immediate trailing quarter and almost a fourth of the Rs 85.16 crore in the corresponding year ago quarter.

     

    The company also reported lower loss in Q2-2015 at Rs 0.03 crore versus a loss of Rs 24.62 crore in Q1-2015 and a nominal PAT of Rs 0.16 crore in Q2-2014. TIO in HY-2015 was Rs 48.93 crore, less than a third of the Rs 156.60 crore in HY-2014. The company has reported y-t-d a loss of Rs 24.65 crore versus PAT of Rs 0.91 crore in HY-2014.

     

    The company’s financial statements indicate that its income from operations include Rs 3.5 crore relating to certain rights in Q2-2015. MAL’s other income includes Rs 1.19 crore, the proceeds of a keyman insurance policy.

     

    Notes:  100,00,000 = 100 Lakhs = 10 million = 1 crore

     

    Let us look at the other figures reported by the company

     

    MAL total expenditure (TE) in Q2-2015 at Rs 23.74 crore was 52.3 per cent lower (less than half) the Rs 49.74 crore in Q1-2015 and 71.9 percent lower (less than a third) of the Rs 84.61 crore in Q2-2014. HY-2015 TE at Rs 73.48 crore was 52.6 per cent less than the Rs 154.95 crore in HY-2014.

     

    Distributors/producers share in Q2-2015 was less than a fourth at Rs 5.74 crore of the Rs 23.04 crore in Q1-2015 and 1/13.6 times the Rs 78.21 crore in Q2-2014. Distributors/producers share in HY-2015 was Rs 28.78 crore, for HY-2014, it was Rs 143.15 crore.

     

    Amortisation of tangible assets including film rights (amortisation expense) in Q2-2015 was Rs 9.26 crore versus the Rs 19.5 crore in Q1-2015 and the Rs 0.37 crore in Q2-2014. HY-2015 amortisation was Rs 28.76 crore, in HY-2014 it was Rs 0.42 crore.

     

    During the current quarter, the company commenced its cinemas at Sangli and Hyderabad. Its Theatrical Exhibition segment’s revenue in Q2-2015 was Rs 8.11 crore as compared to the Rs 6.32 crore in Q1-2015 and the Rs 3.52 crore in Q2-2014. For HY-2015, revenue from Theatrical Exhibition segment revenue rose to Rs 14.43 crore from Rs 7.2 crore in HY-2014. The segment reported operating profit of Rs 0.07 crore versus an operating a loss of Rs 0.14 crore in Q1-2015 and an operating loss of Rs 0.24 crore in Q2-2014. Operating loss for HY-2015 at Rs 0.7 crore was lower than the Rs 0.16 crore in HY-2014.