ITV

Tag: Siti Cable

  • Kolkata cable TV network rebuilding after cyclone Amphan

    Kolkata cable TV network rebuilding after cyclone Amphan

    KOLKATA: Amid the Covid2019 crisis, several districts of West Bengal including Kolkata had been devastated by powerful cyclone Amphan last month. Cable TV and broadband service providers are reeling across the state due to huge infrastructural losses. Although the players are putting high effort to normalise connections, many areas are still in dire straits. Siti Cable director Suresh Sethia estimates that 1-1.5 lakh set-top boxes and fibres of few crores have been damaged across the state.

    Sethia says that none of the operators had the preparation to protect themselves from this disastrous cyclone given its magnitude. Even now, some areas in Kolkata have seen electricity resume a few days ago while there are areas in West Bengal where electricity is still a challenge. This coupled with limited manpower due to Covid2019 is making the task tougher.

    He adds that more than 1,50,000 trees fell down and a number of lampposts which bear cables were razed. The operators have to work from scratch in those areas. 

    Talking about the magnitude of damage, he states more than 50,000 set-top-boxes have been damaged of Siti Networks. However, the numbers might increase. Along with that, there are many control rooms where headends have been blown away incurring more losses. 

    Siti Cable teams have been working round-the-clock to normalise the situation. Many of the workforce are staying in office for 20-25 days to ensure the network is on everywhere. However, he also adds that now they are looking at rebuilding it. All players in Kolkata have come to work together in the crisis and very soon they may have a common plan of pulling the cables and maintaining them together.

    Sethia happily shares that majority of consumers have understood the situation. While they were also struggling with damages from the cyclone, they started contacting cable operators after eight days. “Had the cables be underground, maybe the disruption would have been less,” he believes. While Siti Networks is now focusing on rebuilding the network after temporary damage control, it will look at more underground cable lines.  

  • Zeel issues clarification regarding resignation of 3 directors

    Zeel issues clarification regarding resignation of 3 directors

    MUMBAI: Zee Entertainment Enterprises Ltd (ZEEL) announced on Monday that independent directors Neharika Vora and Sunil Sharma along with non-independent director Subodh Kumar resigned and three new independent directors – R Gopalan, Surendra Singh and Aparajita Jain have been appointed. On the request of the Bombay Stock exchange (BSE) Zeel disclosed the reasons for the resignation.

    Irregularities in CSR spending, film advances worth Rs 2,200 crore, appropriation of Zee Entertainment's fixed deposits worth Rs 200 crore by a bank have been cited as reasons for the resignation of two of the directors along with others.

    “The board of directors have noted that all of the issues raised by the resigning directors have been duly discussed, deliberated and acted upon from time to time in the previous committee/ board meetings in which the said directors were also present,” ZEEL said in a statement.

    The company said Sunil Sharma (Independent Director) in his resignation letter dated 24 November has informed that subsequent to sale of shares by the promoter group, and reconstitution of the board, he tendered his resignation. But at the same time, Subodh Kumar and Neharika Vora flagged several issues.

    Here are the reasons and Zeel’s comment on the issue.

    Film advances given in 2018-19 to the tune of Rs 2200 crores have been cited as the first reason. Zeel commented that the information has already been disclosed annual Report and clarified in various investor interactions.

    Lack of legal action by management when a scheduled bank had appropriated Rs 200 crore of the company's fixed deposits towards promoter loans has been cited as another reason. “Issues pertaining to the wrongful revocation of the bank guarantee stand resolved with the Company having being secured by the promoter companies and appropriate legal notices were sent to the bank at the relevant time,” Zeel commented on the issue.

    Another reason was alleged laxity in spending CSR funds given to a related party foundation or trust. Zeel clarified that the CSR funds have been allocated in compliance with the law and necessary certification has been obtained.

    The directors also raised the issue that the scheduled bank wrote to all directors in October 2019 that a subsidiary of Zeel had guaranteed the repayment of certain loan given to a related party.  “The company has a legal opinion to state that the Company is not liable and in any event there has been no enforcement of the 'guarantee' by the bank, other than to write letters, including to all the directors,” Zeel commented on the issue.

    “A letter received from a PMS entity holding preference shares of the company raising questions regarding build up of related party balances and advances for content acquisition”- has been cited as one of the reasons. According to Zeel, audit of the issues pertaining to related party transactions and advances is underway by auditors.

    The issue of non implementation of certain decision of the board meeting held on 17 October relating to treasury operations has also been flagged by the directors. Against this concern, Zeel said that the company is exploring options to withdraw these deposits in a phased manner without effecting the long term relationship with these banks.No action on large outstanding from DTH operator Dish TV and MSO Siti Cable for the content supplied by Zeel has been mentioned as one of the reasons for resignation. As per Zeel’s filing in the exchange, the same has been secured by a definitive plan and the situation is being strictly monitored as instructed by the board.

  • Siti Networks in Kolkata to migrate pay channels to new TRAI tariff scheme in phased manner

    Siti Networks in Kolkata to migrate pay channels to new TRAI tariff scheme in phased manner

    MUMBAI: Essel group promoted multi-system operator (MSO) Siti Network has planned to migrate Pay TV channels in Kolkata in a phased manner to get non-compliant subscribers to transition to the new TRAI tariff regime. While around 80 per cent of the MSO's 14 lakh subscribers were still to pick their pay channels from an a-la-carte list.

    According to a report from The Telegraph, the MSO will start the process before the grace period given by Calcutta High Court in a recent order.

    “About 20 per cent of our customers have filled in forms online or offline, specifying the channels they want to watch. We have shifted most of them to the channels of their choice. We will now start shifting the others who have not exercised their choices to the new system by withdrawing their pay channels. They will continue to get the free-to-air channels,” Siti Cable director Suresh Sethia said.

    If there is chaos after the migration, the company might start moving some of the subscribers to combinations closest to their current packs. According to the report, another MSO is expected to move subscribers to a combination of channels that can be accommodated within the pricing brackets they are currently in.

    “Since most pay channels are now priced higher than they were in the previous system, they will obviously miss out on some, if not several. The only way out is for them to register their choices immediately,” an official was quoted by The Telegraph.

    Earlier Telecom Regulatory Authority of India (TRAI) extended the deadline for consumer migration to new plans till January 31. Despite the additional month, several MSOs complained that the majority of subscribers had not responded to the grace period making transition very difficult.

    80 cable operators from the city also filed a petition against the order in Calcutta High Court and initially got a stay too. But the high court vacated the stay.

  • With d2h merger, Essel Group will have world’s largest subs base

    With d2h merger, Essel Group will have world’s largest subs base

    BENGALURU: The Essel group is one of the largest media and entertainment industry players in India. Its flagship company is Zee Entertainment Enterprises Limited (Zeel) that has a weightage of 45 per cent on the National Stock Exchange’s Nifty Media Index.

    Its group company, Dish TV Limited (Dish) is also is the largest DTH player in the country in terms of number of subscribers. Along with DTH services, the group also has one of the largest cable operators or multi-system operators (MSO) in Siti Networks Limited or Siti (the erstwhile Siti Cable Network Limited). Amongst the major MSOs in India, Siti is the only one that has added 1.5 million (15 lakh) subscribers over the past few quarters, while its peers have had stagnating subscriber numbers.

    On combining the number of subscribers, the two carriage industry players are already a force to reckon with – a fact that the Essel Group recognised, and will leverage. In an industry first, the two formed a content negotiating joint venture (JV) called Comnet. Both Dish and Siti are equal partners in the JV that came into existence on 1 July, 2015. As part of the JV, both companies said that they would hold joint discussions with broadcasters post which separate direct contracts between the broadcaster and distribution platform will be signed. Further, the JV’s intent is to bring together the industry on contentious taxation issues like the hike in entertainment tax in Delhi.

    Let us look at what we have on the table — Siti had 12.2 million (1.22 crore) subscribers — of which 8.4 million (84 lakh) were digital as per its Q1-17 report, and Dish has reported a subscriber base of 15.1 million (1.51 crore) – totalling 27.3 million(2.73 crore). Now the merger with Videocon d2h will bring in another 12.5 million (1.25 crore) subscribers into the Essel fold for a grand total of 39.8 million (3.98 crore), hence about 2 million (20 lakh) more than the 37.8 million (3.78 crore) subscribers reported for DIRECTV.

    Zeel’s channels have been regularly making it to the top five or 10 in the Broadcast Audience Research Council (BARC) ratings across various genres, be they Hindi general entertainment (GEC), regional channels, movies, English entertainment, etc. Another group company, Zee Media Corporation Limited (ZMCL), offers general news and business news across its television channels.

    The fact that a number of the top rated channels are Essel group companies as well as a huge slice of the Indian television subscription market is indeed huge leverage – bear in mind that the group will probably control more than 25 percent of the carriage industry in the country. And what with the sunset date for DAS phase IV nearing with no let-up in sight from the government, subscription numbers will only grow.

    With this merger, synergies of the two match perfectly. Dish is more of a value player with offerings for all markets including rural, while Videocon d2h is a premium player.

  • With d2h merger, Essel Group will have world’s largest subs base

    With d2h merger, Essel Group will have world’s largest subs base

    BENGALURU: The Essel group is one of the largest media and entertainment industry players in India. Its flagship company is Zee Entertainment Enterprises Limited (Zeel) that has a weightage of 45 per cent on the National Stock Exchange’s Nifty Media Index.

    Its group company, Dish TV Limited (Dish) is also is the largest DTH player in the country in terms of number of subscribers. Along with DTH services, the group also has one of the largest cable operators or multi-system operators (MSO) in Siti Networks Limited or Siti (the erstwhile Siti Cable Network Limited). Amongst the major MSOs in India, Siti is the only one that has added 1.5 million (15 lakh) subscribers over the past few quarters, while its peers have had stagnating subscriber numbers.

    On combining the number of subscribers, the two carriage industry players are already a force to reckon with – a fact that the Essel Group recognised, and will leverage. In an industry first, the two formed a content negotiating joint venture (JV) called Comnet. Both Dish and Siti are equal partners in the JV that came into existence on 1 July, 2015. As part of the JV, both companies said that they would hold joint discussions with broadcasters post which separate direct contracts between the broadcaster and distribution platform will be signed. Further, the JV’s intent is to bring together the industry on contentious taxation issues like the hike in entertainment tax in Delhi.

    Let us look at what we have on the table — Siti had 12.2 million (1.22 crore) subscribers — of which 8.4 million (84 lakh) were digital as per its Q1-17 report, and Dish has reported a subscriber base of 15.1 million (1.51 crore) – totalling 27.3 million(2.73 crore). Now the merger with Videocon d2h will bring in another 12.5 million (1.25 crore) subscribers into the Essel fold for a grand total of 39.8 million (3.98 crore), hence about 2 million (20 lakh) more than the 37.8 million (3.78 crore) subscribers reported for DIRECTV.

    Zeel’s channels have been regularly making it to the top five or 10 in the Broadcast Audience Research Council (BARC) ratings across various genres, be they Hindi general entertainment (GEC), regional channels, movies, English entertainment, etc. Another group company, Zee Media Corporation Limited (ZMCL), offers general news and business news across its television channels.

    The fact that a number of the top rated channels are Essel group companies as well as a huge slice of the Indian television subscription market is indeed huge leverage – bear in mind that the group will probably control more than 25 percent of the carriage industry in the country. And what with the sunset date for DAS phase IV nearing with no let-up in sight from the government, subscription numbers will only grow.

    With this merger, synergies of the two match perfectly. Dish is more of a value player with offerings for all markets including rural, while Videocon d2h is a premium player.

  • Q1-17: Siti revenue, EBIDTA up

    Q1-17: Siti revenue, EBIDTA up

    BENGALURU: The Dr Subhash Chandra led newly renamed Siti Networks Limited (Siti) formerly known as Siti Cable Network Limited, reported 22.7 percent and 28.7 year-over-year growth in operating revenue and EBIDTA for the quarter ended 30 June 2106 (Q1-17, current quarter). Siti’s revenue in the current quarter was Rs 281.97 crore as compared to Rs 229.72 crore in the corresponding year ago quarter. EBIDTA (including other income) in Q1-17 was Rs 47.41 crore (16.8 percent margin) versus Rs 36.84 crore (16 percent margin). Loss however was higher in Q1-17 at Rs 52.61 crore as opposed to a loss of Rs 36.68 crore in Q1-16.

    The company says that its digital subscriber base has grown to 84 lakh during the current quarter from 79 lakh in the immediate trailing quarter. For Q1-16, the company had reported a digital subscriber base of 55.80 lakh. It says that it has expanded its footprint to 387 cities across the country in Q1-17 as compared to 312 cities at the end of the immediate trailing quarter. Broadband subscriber base has increased quarter-over-quarter in Q1-17 to 1.67 lakh from 1.32 lakh in Q4-16. HD Services: Siti says that it has strengthened its SITI HD+ services by expanding its bouquet to 57 HD channels. SITI HD+ customer base increased 65,140, up 29.8 percent over Q4-16 (50,170).

    Let us look at the other numbers reported by the company for Q1-17

    Subscription revenue in the current quarter increased 8 percent in Q1-17 y-o-y to Rs 139.3 crore from Rs 129 crore. Carriage revenue declined slightly to Rs 72 crore from Rs 79 crore, while activation charges almost tripled (2.93 times) to Rs 36.6 crore from Rs 12.5 crore. Broadband revenue more than doubled in the current quarter to Rs 19.5 crore from Rs 9 crore in Q1-16.

    Other Income more than doubled to Rs 4.92 crore in Q1-17 from Rs 2.44 crore in Q1-16.  Finance costs in the current quarter reduced to Rs 29.67 crore from Rs 34.39 crore in the corresponding year ago quarter. Total Expenditure increased to Rs 294.20 crore from Rs 231.16 crore in the corresponding year ago quarter. Employee Benefit Expense increased to Rs 19.12 crore in the current quarter from Rs 13.33 crore in Q1-16.  Carriage sharing, pay channel and related costs in Q1-17 increased to Rs 148.44 crore from Rs 135.70 crore in Q1-16.

    Company speak

    Siti executive director & CEO, V D Wadhwa said, “We expanded our reach further by branching out to 387 cities in line with our strategy of select market expansion. We have established our broadband presence in Haryana and expect to significantly expand our subscriber base this year.

    Recurring cash flows were sluggish due to delays in Phase 3 monetization on account of legal bottlenecks. However, we expect a time bound resolution by the second half of the year and limited long term impact of this issue. We are well prepared for improved monetization of our subscriber base.”

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

  • Q1-17: Siti revenue, EBIDTA up

    Q1-17: Siti revenue, EBIDTA up

    BENGALURU: The Dr Subhash Chandra led newly renamed Siti Networks Limited (Siti) formerly known as Siti Cable Network Limited, reported 22.7 percent and 28.7 year-over-year growth in operating revenue and EBIDTA for the quarter ended 30 June 2106 (Q1-17, current quarter). Siti’s revenue in the current quarter was Rs 281.97 crore as compared to Rs 229.72 crore in the corresponding year ago quarter. EBIDTA (including other income) in Q1-17 was Rs 47.41 crore (16.8 percent margin) versus Rs 36.84 crore (16 percent margin). Loss however was higher in Q1-17 at Rs 52.61 crore as opposed to a loss of Rs 36.68 crore in Q1-16.

    The company says that its digital subscriber base has grown to 84 lakh during the current quarter from 79 lakh in the immediate trailing quarter. For Q1-16, the company had reported a digital subscriber base of 55.80 lakh. It says that it has expanded its footprint to 387 cities across the country in Q1-17 as compared to 312 cities at the end of the immediate trailing quarter. Broadband subscriber base has increased quarter-over-quarter in Q1-17 to 1.67 lakh from 1.32 lakh in Q4-16. HD Services: Siti says that it has strengthened its SITI HD+ services by expanding its bouquet to 57 HD channels. SITI HD+ customer base increased 65,140, up 29.8 percent over Q4-16 (50,170).

    Let us look at the other numbers reported by the company for Q1-17

    Subscription revenue in the current quarter increased 8 percent in Q1-17 y-o-y to Rs 139.3 crore from Rs 129 crore. Carriage revenue declined slightly to Rs 72 crore from Rs 79 crore, while activation charges almost tripled (2.93 times) to Rs 36.6 crore from Rs 12.5 crore. Broadband revenue more than doubled in the current quarter to Rs 19.5 crore from Rs 9 crore in Q1-16.

    Other Income more than doubled to Rs 4.92 crore in Q1-17 from Rs 2.44 crore in Q1-16.  Finance costs in the current quarter reduced to Rs 29.67 crore from Rs 34.39 crore in the corresponding year ago quarter. Total Expenditure increased to Rs 294.20 crore from Rs 231.16 crore in the corresponding year ago quarter. Employee Benefit Expense increased to Rs 19.12 crore in the current quarter from Rs 13.33 crore in Q1-16.  Carriage sharing, pay channel and related costs in Q1-17 increased to Rs 148.44 crore from Rs 135.70 crore in Q1-16.

    Company speak

    Siti executive director & CEO, V D Wadhwa said, “We expanded our reach further by branching out to 387 cities in line with our strategy of select market expansion. We have established our broadband presence in Haryana and expect to significantly expand our subscriber base this year.

    Recurring cash flows were sluggish due to delays in Phase 3 monetization on account of legal bottlenecks. However, we expect a time bound resolution by the second half of the year and limited long term impact of this issue. We are well prepared for improved monetization of our subscriber base.”

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

  • Siti Networks says price revision benefits will accrue in second half

    Siti Networks says price revision benefits will accrue in second half

    MUMBAI: DAS paralysis in phase III markets is having an impact on Siti Networks (Siti Cable) performance. This was revealed by CEO V. D. Wadhwa to CNBC TV18 today.

    Speaking to the business news channel, he said that Siti Networks target was to roll out an additional five million boxes in the ongoing year. But this would not be likely met as “Phase-III digitisation is currently on hold and because the matter is subjudice in Delhi High Court, so it has been delayed. So, it all depends on that, but we are hoping that if the matter gets decided by the court in the next one or two months, we should still be able to deliver our original target, otherwise there will be some shortfall.”

    Vadhwa informed CNBC TV18 that the company has set its sights on 250,000 broadband subscribers (currently 130,000) by March 2017 and around 200,000 plus subscribers for its 57 HD channel bouquet. The company had hoped to hit 300,000 HD subscribers but has had to scale back its numbers as the HD market “is not moving the way we expected the it to grow. We are carrying the inventory; we are carrying the content but we have pulled back on our HD subscriber numbers.”

    He pointed out the benefits of the price revision that company has resorted to will be felt in the second half of the year. “Earlier we were operating with four packages. Now we have reduced the packages and now total three package is there. Basic package and then the royal and magnum package. So, the price increase at the consumer level is in the range of weighted average, roughly Rs 40 increase in the prices and we are targeting that at least half of this should flow back to us. At least Rs 15-20 is what we are targeting that should flow back to the company. So it has just happened in the month of July. In some market it has been revised in the month of July. Balance, it is getting revised in the month of August itself.”

  • Siti Networks says price revision benefits will accrue in second half

    Siti Networks says price revision benefits will accrue in second half

    MUMBAI: DAS paralysis in phase III markets is having an impact on Siti Networks (Siti Cable) performance. This was revealed by CEO V. D. Wadhwa to CNBC TV18 today.

    Speaking to the business news channel, he said that Siti Networks target was to roll out an additional five million boxes in the ongoing year. But this would not be likely met as “Phase-III digitisation is currently on hold and because the matter is subjudice in Delhi High Court, so it has been delayed. So, it all depends on that, but we are hoping that if the matter gets decided by the court in the next one or two months, we should still be able to deliver our original target, otherwise there will be some shortfall.”

    Vadhwa informed CNBC TV18 that the company has set its sights on 250,000 broadband subscribers (currently 130,000) by March 2017 and around 200,000 plus subscribers for its 57 HD channel bouquet. The company had hoped to hit 300,000 HD subscribers but has had to scale back its numbers as the HD market “is not moving the way we expected the it to grow. We are carrying the inventory; we are carrying the content but we have pulled back on our HD subscriber numbers.”

    He pointed out the benefits of the price revision that company has resorted to will be felt in the second half of the year. “Earlier we were operating with four packages. Now we have reduced the packages and now total three package is there. Basic package and then the royal and magnum package. So, the price increase at the consumer level is in the range of weighted average, roughly Rs 40 increase in the prices and we are targeting that at least half of this should flow back to us. At least Rs 15-20 is what we are targeting that should flow back to the company. So it has just happened in the month of July. In some market it has been revised in the month of July. Balance, it is getting revised in the month of August itself.”

  • Videocon d2h brings on Zee’s global news channel WION

    Videocon d2h brings on Zee’s global news channel WION

    MUMBAI: Zee Media has launched its new English news channel Wion on 15 August with the aim of going beyond the banal news. Headed by Rohit Gandhi, the channel is accessible via satellite in 37 countries.

    In India, it is available on Dish TV (channel no 605), Reliance Digital TV (channel no 459), Tata Sky (channel no 628) and Airtel Digital TV (channel no 999). The channel position on Airtel Digital TV is temporary.

    Videocon d2h – which has a library of 570 plus channels and services – has now added WION to that list on channel no 367.

    “We have been relentless in our pursuit to gratify our customers with an exceptional viewing experience,” said Videocon d2h executive chairman Saurabh Dhoot. “With this addition, subscribers of Videocon d2h will have one more opportunity to stay informed with the latest headlines and breaking news from the network”

    Videocon d2h CEO Anil Khera added: “Videocon d2h has been extremely aggressive and innovative when it comes to technology upgrades, new content offerings and launching new services all in an effort to keep ahead of current industry trends. Addition of Z Wion is fulfillment of our promise to provide the best channels and content across all genres.”

    It offers a wide range of active services like smart services including Smart English, Smart Games. The other active services include d2h Hollywood HD, d2h music, d2h spice, d2h cinema in both Standard Definition and HD, etc.

    The channel is also available on Siti Cable connections in Mumbai, Delhi, Bangalore, Indore and Kolkata whereas DEN Networks is carrying the channel in Mumbai and Kolkata.