ITV

Tag: SEC

  • Disney’s Iger’s big pay harvest in 2024

    Disney’s Iger’s big pay harvest in 2024

    MUMBAI: Can you guess how much Bob Iger was rewarded for being a part of the decision making during  the $10-odd billion Reliance-Viacom18-Disney Star India joint venture called JioStar? Not just for that monumental merger but also for the strategic leadership decisions he made throughout 2024?

    He received an impressive 30 per cent pay rise, taking home a staggering $41.1 million – equivalent to a cool ?350 crore. Around Rs 1 crore a day if you round up figures. Now, that’s some serious money!

    Breaking it down, Iger’s remuneration included $18.3 million in stock awards, $12 million in option awards, $7.2 million in bonuses, and an additional $2.1 million in other forms of compensation, as disclosed in regulatory filings with the United States Securities and Exchange Commission (SEC).

    For comparison, his income in 2023,  stood at $31.6 million. It’s clear that 2024 brought a significant boost to his financial rewards.

    Guarding the so-called “Mouse House” truly seems to pay dividends, and Iger’s leadership continues to demonstrate why he is one of the most influential executives in the media and entertainment industry.

  • comScore – Rentrak merger moves one step closer to completion

    comScore – Rentrak merger moves one step closer to completion

    MUMBAI: comScore, Inc and Rentrak Corporation have said that the registration statement on Form S-4 filed with the U.S. Securities and Exchange Commission (SEC) by comScore on 30 October, 2015, and as subsequently amended, which includes a joint proxy statement/prospectus of comScore and Rentrak, was declared effective by the SEC on 23 December, 2015.

     

    comScore and Rentrak have each scheduled special shareholder meetings for 28 January, 2016, in order to seek shareholder approval of the proposed merger. Each company’s shareholders of record at the close of business on 10 December, 2015 will be entitled to vote at their respective meetings.

     

    On 23 December, 2015, comScore filed a revised joint proxy statement/prospectus pursuant to Rule 424(b) of the Securities Act of 1933, as amended, in order to make available the document that will be mailed to comScore and Rentrak shareholders in connection with the respective special meetings. The joint proxy statement/prospectus is available through the SEC’s website at www.sec.gov and via comScore’s IR website and Rentrak’s IR website. comScore and Rentrak will begin mailing the joint proxy statement/prospectus to their respective shareholders to provide additional information and instructions for voting by 28 December, 2015.

     

    The closing of the merger remains subject to approval by comScore and Rentrak shareholders. As was reported earlier by Indiantelevision.com, the merger agreement was unanimously approved by the boards of directors of both companies, and comScore and Rentrak expect the deal to close promptly after the shareholder approval. Assuming shareholder approval, the combined company is expected to trade under the comScore ticker symbol (SCOR) by the end of January.

     

    On 29 September, 2015, comScore and Rentrak entered into a definitive agreement to merge in an all-stock, tax-free transaction. Under the terms of the agreement, Rentrak shareholders will receive 1.15 comScore shares for each Rentrak share they own. Upon completion of the merger, comScore shareholders are expected to own approximately 66.5 per cent and Rentrak shareholders are expected to own approximately 33.5 per cent of the combined company on a fully diluted basis.

  • Rupert Murdoch’s pay drops 5% in 2015 to $28 million; James’ down 19% at $15 million

    Rupert Murdoch’s pay drops 5% in 2015 to $28 million; James’ down 19% at $15 million

    MUMBAI: In his last year as CEO of 21st Century Fox, Rupert Murdoch took home five per cent less salary in 2015 as compared to 2014. The senior Murdoch was named executive co-chairman of the company in July this year. His pay in the fiscal year ended in June 2015 stood at $27.9 million as opposed to $29.24 million in 2014.

     

    While his base salary was steady at $7.1 million, his stock award fell 18 per cent to $5.15 million. On the other hand, his non-equity plan compensation fell four per cent to $9.77 million. The senior Murdoch also will be pocketing a bonus of $21 million for his contribution in growing the company’s brands and businesses domestically as well as his plans for future growth with continued investments in domestic cable networks and in international markets.

     

    Additionally, 21st Century Fox CEO James Murdoch’s total pay also saw a decline of almost 19 per cent at $15.05 million in 2015 as compared to $18.7 million in 2014. His salary continued to remain the same at $3 million, whereas his stock awards were down 18 per cent to $5.42 million. His non-equity incentive compensation too declined four per cent to $5.58 million.

     

    James Murdoch, who is slated to received a bonus of $12 million, played an important role during fiscal 2015 in developing the company’s key international businesses and investments. Moreover, the company said that he continues to champion the expansion of the company’s international sports portfolio, particularly with new rights acquisitions at Star Sports in India, positioning the company for greater profitability. Under his leadership, the company continues to expand its digital offerings of its library product and explores opportunities to obtain the digital rights to other key programming and to expand its digital advertising capabilities.

     

    In a proxy filing with the Securities and Exchange Commission (SEC) in 29 September, the company said that this was due to the decline in stock awards and non-equity incentive compensation.

     

    On the other hand, the company’s deputy chairman Chase Carey, who also served as the company’s COO with James until July, received compensation of $23.22 million for the year ended 30 June, 2015, which was down from $27.9 million in 2014. Carey’s salary remained the same at $4.05 million. Carey, who now serves as the 21st Century Fox’s executive vice chairman, will receive a bonus of $20 million for hisexceptional strategic leadership and management.

     

    21st Century Fox’s proxy filing also mentioned that the company’s annual meeting is scheduled on 12 November in Los Angeles, California.

     

    For the year ended 30 June, 21st Century Fox’s net income dropped 36 per cent to $4.51 billion, while revenues grew 15 per cent to $ 31.9 billion.

     

    21st Century Fox Business Highlights for 2015 are as follows:

     

     

    INDIA

     

    • The company continued its expansion of its international cable business, particularly at Star India. Star Sports’ broadcast of the ICC Cricket World Cup set an all-time viewership record, and the introduction of two new local sports leagues, Kabaddi and Indian Super League (soccer), provided strong ratings and present new opportunities.

     

    • Through Star India’s agreement to acquire the broadcast business of MAA Television Network Limited, the company initiated its expansion into the Telugu TV market.

     

    • The company expanded its non-linear advertising products and services through the launch of Hotstar, a digital video streaming platform in India.

     

     

    INTERNATIONAL

     

    • The company continued to grow its television and cable channel businesses through obtaining and increasing retransmission and affiliate compensation and securing key distribution agreements.

     

    • The company continued to strengthen its core domestic cable business with the growth of its national sports channel Fox Sports 1 by featuring additional sports events including the U.S. Open Golf Championship and Women’s World Cup events, and by growing its third branded FX channel, FXX, by featuring all episodes of The Simpsons and premiering an extensive slate of theatrical motion pictures.

     

    • The company’s filmed entertainment business continued to have leading worldwide box office sales while creating and growing new and existing film franchises such as The Maze Runner, Kingsman and Planet of the Apes.

     

    • The company created new hit series such as Empire and The Last Man on Earth and enhanced its key existing brands including The Simpsons, Family Guy, Modern Family and Homeland. In addition, the company is reinvigorating the broadcast network’s primetime line-up with the successful debuts of Gotham, Last Man on Earth and Empire, which was the number one new show and highest rated broadcast show in the 2014-2015 broadcast season.

     

    • The company expanded its non-linear advertising products and services through the acquisition of true[X], a leading engagement advertising company specializing in advertising formats for on-demand marketing campaigns in the U.S.

     

    • The company returned a significant amount of cash to stockholders through stock repurchases of approximately $5.9 billion during fiscal 2015, a 57 per cent increase over fiscal 2014 levels and through increasing the semi-annual dividend by 20 per cent to $0.15 per Class A and Class B share, resulting in an annual dividend for fiscal 2015 of $0.30 per share or approximately $610 million. In August 2015, the company announced that the Board approved an additional $5 billion authorization to the Company’s stock repurchase program intended to be completed by August 2016.

     

    • The company sold its direct broadcast satellite television (DBS) businesses, Sky Italia and its interest in Sky Deutschland AG (Sky Deutschland), to Sky plc (formerly known as British Sky Broadcasting Group plc) for approximately $8.8 billion, resulting in a gain of approximately $5 billion and creating a pan-European digital television leader.

     

    • The company and funds managed by affiliates of Apollo Global Management, LLC created Endemol Shine Group, a global multi-platform content provider bringing together the Shine Group, Endemol and Core Media Group.

  • SEC sends letters of inquiry to film studios about China deals

    SEC sends letters of inquiry to film studios about China deals

    MUMBAI: The Securities and Exchange Commission (SEC) has sent letters of inquiry to at least five movie studios in the past two months, including News Corp’s 20th Century Fox, Disney, and DreamWorks Animation seeking information about potentially inappropriate payments to government officials in China.
    The letters ask for information about potential inappropriate payments and how the companies dealt with certain government officials in China. The SEC is said to be investigating whether the American entertainment companies have paid bribes or had any illegal dealings with Chin se officials.
    China has become a top priority for American entertainment companies looking to take advantage of its booming population and love of entertainment. The state-owned China Film Group tightly limits the number of foreign releases allowed in the country to about 20 per year, though in February a deal was cut to allow more American films to screen in the country.
    If true, an investigation could lead to prosecution for violations of the Foreign Corrupt Practices Act, which makes it illegal for Americans to pay bribes to foreign government officials in order to facilitate their business dealings.
    While the law has been on the books in the US since the ‘70s, it has not been properly put to use yet.
    The total Chinese box office has soared in recent years with multiplexes coming up by the dozens. In 2009-10, James Cameron’s Avatar grossed more than $193 million in China, helping the film to become the highest-grossing film of all time.

  • Tam increases number of peoplemeters to 6917

    Tam increases number of peoplemeters to 6917

    MUMBAI: Ratings measurement service Tam is in expansion mode. Earlier this month it came out with an Elite Panel for Mumbai and Delhi. The aim is to measure what the creme de la creme consume.

    Now it has increased the number of peoplemeters in the country. The number of meters have been increased from 4800 to 6917, a 44 per cent rise. The aim is to deepen the coverage to more towns.

    This Peoplemeter Update marks the second stage of the TAM expansion project. The first stage was executed to broaden the coverage from 5 states to 12 states but within the existing reporting stratum (0.1 Mn+ population stratum). The second stage is to deepen the coverage to more towns within the less than 0.1Mn+ stratum for all markets covered in stage 1.

    This expansion marks the conclusion of the second step of the entire expansion plan.

    In addition, improvements have been made in the design to take into account the changing demographic and media landscape that results in a higher precision of the viewership estimates.

    The number of cities Tam covers has grown from 73 to 151. In terms of expansion in the Metros are as follows: while earlier there were 450 homes measured in Mumbai now there are 495; in Kolkata the number has risen to 330 from 265. In Delhi it has risen from 425 to 470; in Chennai, Bangalore and Hyderabad it has grown from 255 homes in each of them to 280.

    In terms of how the sample sizes across markets were determined, Tam India CEO LV Krishnan says, “A range of factors influence the sample size allocation of the overall sample across markets. These include the desired depth of analysis, availability of sufficient sample sizes for commonly analysed target groups and a desired level of statistical precision.

    “While markets are analysed by two strata (1 million+ and 0.1 – 1 million) for sampling purposes the 0.1-1 million is broken into 0.1-0.5 mn and 0.5 mn – 1 mn. For the expansion, the 0.1-0.5 mn was broken up further into 0.1-0.2 mn and 0.2-0.5 mn.”

    In terms of the SEC distribution, 33 per cent of the sample homes measured in Delhi are SEC A. In Mumbai, Kolkata and Chennai it is 25 per cent. The representation of SEC D and E is highest in Mumbai and Kolkata at 32 per cent. At an all India level it is 28 per cent for SEC D and E. SEC A and B have a 25 per cent representation each. SEC C has a 21 per cent representation.

    The presence of children was included as a new control parameter for the expansion. This paramater, Tam says, ensures that the proportion of homes in the sample with kids 4-9 years and 10-14 years matches that of the universe. In terms of new markets being introduced in the new Tam panel data, two changes have been seen at a market level.

    Firstly West Bengal 1mn+ is a new market strata that has emerged due to towns moving up to the 1mn+ population bracket. Then Rajasthan, which was earlier reported as Rajasthan 0.1mn+, has now split into a two market strata i.e. Rajasthan 1mn+ and Rajasthan 0.1-1 mn.

  • ‘Indian television by & large lacks the art of crafting shows’ : Vikas Bhal – Sony SAB senior vice president and business head

    ‘Indian television by & large lacks the art of crafting shows’ : Vikas Bhal – Sony SAB senior vice president and business head

    From the world of advertising to the world of television. That’s exactly what Sony Sab senior vice president and business head Vikas Bahl has done. Now at Sab he has the enviable task of not only revamping the channel after a takeover by Sony Entertainment TV India in November 2005, but also look at revenue generation on the back of conservative budget.

    Though the channel has a fresh lineup of shows only for one and half hour only, Sab is optimistic of touching 90+ GRPs by the end of FY2006-2007 as the programming lineup slowly expands.

    In conversation with Indiantelevision.com’s Manisha Bhattacharjee, Bahl holds forth on Sab’s revamp process and other issues like getting the right mix of programming to exploit the channel’s brand identity.
    Excerpts:

    Why don’t you give us an overview of Sab after the takeover by Set India?
    Well, the revamp of the channel is still on. From the time I joined, in terms of numbers, the channel has grown 300 per cent in terms of revenue and new advertisers on board. But admittedly the base of the growth was small.

    On the revamp front, we are quite clear we wanted to gain from Sab’s positioning as a comedy channel. But we did not want to stick to that as its only strength. The channel has its set of loyal audience who come to Sab typically for alternative viewing. And, that alternative viewing was by and large comedy, people who had grown sick of watching saas-bahu type of programming. But it was a fleeting audience, which came, saw his or her favourite programme and then moved on.

    So, we realized that on the face of fatigue in viewership across general entertainment channels (GECs) — most GECs, in our opinion, were falling in the same trap of having family drama — our audience was pretty much the one that was questioning the kind of programming. Such a feedback also indicated that that a large base of audience was tired of saas-bahu syndrome and had no place to go and we were in a position to take a chance by getting into alternative programming.

    What, according to you, would be viewer profile?
    In short, people who are young at heart and have a younger mindset. Now this profile cuts across SECs and age groups.
    So, Sab’s viewers are not Gen X. They could be from a small town in Madhya Pradesh, South Mumbai to Jammu up north to Jamnagar in the West. The common link between all such viewers is their mindset, which is progressive and not regressive.

    But Sab’s first alternative viewing after the Sony takeover, Twinkle Beauty Parlour, was taken off the air suddenly as it failed to click. Comment.
    That serial admittedly was a key project at that point of time. It was the first show after the revamp that was set in and we did an out of box marketing for it too. I think the channel got a lot of traction at the point in time. We followed it up with Left Right Left, which completely defined what we wanted to offer to the people and what they wanted to watch on Sab.

    Twinkle Beauty Parlour was started with the aim of being ‘destructive programming’. After Left Right Left was launched, we realized Twinkle Beauty Parlour was not conceived to be a `young’ show and consciously we had to take it off. We are glad that the second time round we started connecting with the audience through Left… All these talks of understanding one’s audiences’ looks very good when stated, but the important thing is to convert them into reality.

    And, normally reality can take time a lot of time. It looks like we are getting it right (on the programming front), but we still have a long way to go.

    What’s the ‘reality’ for Sab with new programming after Left Right Left?
    The revamp is just about kicking off. Initial response from viewers and advertisers has been excellent. Sab’s present channel share is six per cent, which grew from 1.5 per cent at the time when Sony took it over.

    Sab, which was doing an all-day GRP of 23 to 24 last October, is presently doing 70 GRPs. Our channel is driven by 15 to 34 age bracket and those in 50 to 65 years age group.

    Is Sab also looking at movies as a viewership driver?
    Sab is not a movie channel, though presently the channel is airing films. The reason: fill space on the channel, while we figure out fresh programming. We also pick up a certain genre of ‘light’ movies that seem to have done well with audiences of all age groups — films like Gol Maal and Chupke Chupke (comedies all).

    Sab’s brand identity is dictated by its programming. So if the brand is about young new India and we are sticking with that. Presently, 25 per cent of our programming is still very ‘light’, but in the process we do not want to lose our loyal viewers because they have been driving our channel for a long time.
    ‘Twinkle… kicked off with the aim of being a destructive programming‘

    What’s the new programming line up looking like after all the feedback on viewers?
    We have Mohalla Mohabbat Walla launching on 13 November and Fame X on 24 November as the base line. A big difference that has been incorporated in the second season of Fame X that aired last year on Sony is that the contestants will not undergo any makeover.

    After these two shows, we are looking at a show from Anurag
    Basu, which likely hit the tube in about two months. However, I must point out that we have launched a few shows like Behanji, Ishq Ki Ghanti, FIR and Party and have retained Yes Boss from the earlier lineup. What we also did is try cleaning up Sab by setting in motion a phasing process for old programming.

    You have roped in Anurag Basu (director of films such as Murder and Gangster) who is now more into film making? Is there not enough talent in the already existing TV market?
    The same way we are trying to get those viewers on board who had given up on television, we are tying to get those professionals on board who have given up on television and had stopped crafting shows for television. We also have Timangshu Dhulia directing Mohalla…

    What is important is that the directors of our new TV shows are not the guys who’ll like to make the saas-bahu type of serials. It’s unfortunate that almost all the GECs are going in that direction (of saas-bahu mush). But must admit that at the moment such serials are doing well businesswise — a trend that we intend to buck.

    Most popular entertainment channels depend heavily on Balaji Telefilms for shows. Will Sab also do that?
    Yes, I agree with you. We are also in talks with Balaji, but hopefully the production house would be willing to do something different. Till now viewers had little choice (but to watch saas-bahu type of serials), but someone must not get swayed by the trend and create different programming. We are trying that at Sab. Writers who had stopped crafting for television are coming to us with ideas willing to do different things. They are not big names, though.

    Sab lost out its biggest and most successful show, Office Office, to Star. What do you have to say on such a loss when the channel is trying to establish itself?
    I personally feel that gems are created once and people should not try to recreate them. Office Office was a gem and in that sense it’s a loss. Still, whether it can be recreated for a second season or not is debatable.

    Today, we run repeats of Office Office and it delivers the same numbers as the new one on competition’s channel. Without spending additional money, the old Office Office does as well as the new one. Creativity cannot be transferred.
    ‘Repeats of ‘Office Office’ delivers the same numbers as the new one on competition’s channel‘

    Is there any new strategy for selling airtime for day parts?
    As the revamp process is still on, we are concentrating on building on prime time. Our prime, unlike the rest of the channels, begins at 8:30 pm and ends at 10 pm. So, we actually have only one and a half hours of fresh programming. From 13 November onwards with Mohalla Mohabbat Walla, we will have two hours of fresh programming. With Fame X launch the prime time band will be extended to two and a half hours. On Fridays, we depend on reruns.

    The GECs closest to Sab like Star One and Sahara One have at least five hours of fresh programming on prime time, while our prime time is shorter. With just one and a half hour of programming, we are faring well and hopefully will pick up further with new shows coming on air soon.

    From the advertising point of view, Sab’s entire advertiser base has changed with an entirely new set of advertisers who have come on board in the last eight months. Earlier the advertisers who were not keen on being on Sab because of the previous brand identity and other factors are now looking at the channel. Presently, the advertiser base includes big brands like Pepsi, Nokia, Visa, Levers and Perfetti.

    Sab’s audiences are fragmented throughout the day. Being a channel undergoing a revamp, sampling of all shows happens across the day. So each time a show gets repeated, it brings in a unique audience. For instance, women who are not willing to give up their daily dose of soaps on other channels at 9 pm and skip Left Right Left on Sab catch up with the repeat at 2 pm next day. For advertisers and the channel this is a new set of audience base.

    But repeats are done by other channels too and they too claim fresh viewership.
    For established players, when they air shows at 10 pm they get all their audiences at that time and generally don’t do reruns as they want to consolidate the viewership. We are not in a position to consolidate that way at the moment, so we spread our audiences through the day.

    As the revamp is on, is Sab working with a lavish programming budget?
    We have been very conservative with our spending right now. It is pretty much growing in sync with our numbers. In short, we have not gone and splurged money. That’s why even after eight months (of Sony takeover), we have just three new programming. I do not know what Sab’s earlier owners used to spend, but from last year there has been an increase of 40 per cent in programming budget.
    The budget assigned to me hasn’t been exhausted completely and it will be ramped up as we continue testing the programming waters.

    Is Sab being sold to advertisers along with other Sony channels as a package deal?
    No the channel is sold separately. For example, Sab is not being sold along with Sony as both have different and distinct identities, which will be retained.

    Has there been a revision in ad rates of Sab after the Sony takeover?
    The rates have doubled and the channel’s inventories are full. At times, we have had to reduce show time to accommodate ads. The response seems to be good from the market, but admittedly the base for rate hike was small.

    Target: As business, new advertisers on board was the target. The response from there is pretty much visible. The monthly figures that we need to achieve are pretty much there to get to our annual figures. In terms of viewership, with the kind of lineup we hold the viewership we expected we are very there.

    Has the strategy of putting on Sab a Hindi language feed of cricket matches for which Sony has telecast rights helped?
    The channel recorded an average ratings of two on all-day part for all India matches in the (just concluded) Champions Trophy, which was as good as the ratings obtained by (terrestrial broadcaster) Doordarshan. The cricket feed has been incorporated largely to get Sab’s distribution act in place and is being used as a marketing device. This will help the channel bring in newer audience to sample our new shows.

    What are the plans leading up to the cricket World Cup in 2007?
    As per the strategy, cricket matches will be available on Set Max and Sab instead of on Max and Sony. We expect the audience coming on to Sab for cricket will remained tuned in for other shows.

    What is the target that Sab has set for itself in terms of channel share and revenue?
    As far as channel is concerned, the target is to take the GRPs up to 80-90. We are already clocking GRPs of 70 and with new shows coming on air we are likely to achieve our goal. With every new programme, Sab has received incremental audiences.

    What is the road map for Sab?
    The channel will maintain its positioning as a channel airing fiction. Though there will be booster shows like Fame X or probably something similar next year. We are not going to dabble in reality shows or events because we do not have the budget and, second, we have a strong fiction team whose core competence will be exploited to our advantage. The dailies will run from Monday to Friday.

    When is the revamp process going to be completed?
    The whole revamp process will take one more year. So by FY 2007-2008 Sab will have a healthy prime time and will deliver numbers too. By that time the channel would also hopefully have enough number of new shows that will reduce our dependence on repeats.
    At the moment, Sab is a channel airing new programming only between 8:30 pm to 10 pm.

    Branded entertainment seems to be new age mantra for the GECs to offer something different. Will Sab also look at this aspect of entertainment?
    We are extremely careful about crafting television shows for Sab. I don’t think branded entertainment works for advertisers unless integrated properly with the storyline. If Indians can learn from the James Bond movie experience about branding and integrating such initiatives with the storyline, then the result can be fabulous. If they can’t, then there is a fear of killing the advertising product as well as the show.

    Personally I feel we do an appalling job of it (integrating advertising with entertainment) most of the time. Unless we manage to do a quality job, it ruins both the show and the product(s). To top it all viewers hate it too.

    Indian television by and large lacks the art of crafting shows right now. Forget crafting of advertising integration, the industry even lacks the art of crafting shows. I think if the art of crafting is brought back to television, viewers will love you for it.

    However at Sab, we are hoping to do some advertising integration-related work as we did some work by employing unused footage of Indian Idol to create Indian Idol Tak Taka Tak. I think we did justice and a lot of crafting went into the creation of the property then.