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Tag: Siti Networks

  • SITI Networks’ 9MFY20 Operating EBITDA surges 1.24X Y-o-Y to Rs.2,676 Mn

    SITI Networks’ 9MFY20 Operating EBITDA surges 1.24X Y-o-Y to Rs.2,676 Mn

    MUMBAI: SITI Networks Limited (BSE: 532795, NSE: SITINET), an Essel Group Company, one of India’s largest Multi-System Operators (MSO), has released its Consolidated Audited Financial Results for Q3 FY20, ending December 31, 2019, showcasing continuous growth through strict control on expenses and operational efficiencies across all metrics.

    SITI’s 9MFY20 Operating EBITDA surged 1.24 times over similar duration of last fiscal, to Rs. 2,676 Mn. This jump has been due to strict control over expenses and operating efficiencies. SITI’s Operating EBITDA Margin for 9MFY20 also expanded significantly by 1.1 times y-o-y to 22%.

    Subscription revenue for 9MFY20 grew 19.5% y-o-y to Rs. 8,687 Mn, aided by the strong growth Subscription ARPU, which leapt 1.8 times to Rs.128 per month. Total Revenue (excluding activation) also surged 12.7% y-o-y to Rs. 12,189 Mn for the same period.

    SITI Broadband and Zee 5, India’s fastest growing OTT platform joined hands to promote premium content to SITI’s high speed broadband customers. SITI Broadband also expanded its presence through a mix of smart customer management and innovative offerings. A new SITI Broadband web and mobile interface has been introduced to enhance customer experience.

    SITI’s continuous efforts on improving operational efficiencies through improvement of its systems, processes and personnel has been yielding results. This has resulted in a better and intimate ground connect with its 24,000+ strong distribution network and increased focus on being fully compliant to the Tariff regime.

    While commenting on the results, Mr. Anil Malhotra, CEO of SITI Networks Limited mentioned:

    “SITI’s continued focus on operational efficiencies and strict control over expenses has driven growth in Operating EBITDA by 1.24 times y-o-y to Rs.2,676 Mn and expanding Operating EBITDA margins by 1.1 times y-o-y to 22% in 9MFY20. Our Total Revenue (excluding Activation) also surged 12.7% y-o-y to Rs.12,189 Mn in the same period. Our Subscription Revenue also jumped 19.5% to Rs.8,687 Mn. We are focused on working closely with our distribution partners for increased sweating of ground assets further through introduction of allied value-added services for our customers SITI Broadband with Zee 5, India’s fastest growing OTT app, gives both partners an opportunity to scale up our business ambitions, creating value for all our stakeholders with a focused and strategic approach."
     

  • Broadcasting and cable TV services grew marginally in Q2: TRAI

    Broadcasting and cable TV services grew marginally in Q2: TRAI

    MUMBAI: The Telecom Regulatory and Authority of India in its 2019 September-end quarter report has shown a marginal growth in the broadcasting and cable TV services with respect to the number of private satellite TV channels permitted by the government and pay TV channels as reported by broadcasters.

    TRAI in its performance indicator report has mentioned that there has been continuous growth in the number of private satellite TV channels subject to the government’s approval in the last five quarters.

    It reported that a total number of 910 private satellite TV channels have been permitted by the Ministry of Information and Broadcasting (MIB) for uplinking only/downlinking only/uplinking and downlinking both compared to 851 channels in the same quarter of 2018.

    With respect to quarterly growth in the number of satellite Pay TV channels, TRAI reported at least 330 pay channels, of which 232 SD and 98 HD Pay TV channels compared to 313 pay channels, of which 216 SD and 97 HD Pay TV channels in the same quarter of 2018.

    As the country achieved 100 per cent digitisation of Cable TV network, TRAI said, “This is a stupendous achievement making India as the only large country where 100 per cent digitisation of cable network has been achieved through mandatory regulations.”

    Out of top four Cable TV networks, Siti Networks has topped the chart with over 91 lakh subscribers , whereas DEN Networks stood at the fourth position with 43 lakh subscribers, TRAI report said.

    Meanwhile, GTPL Hathway and Hathway Digital had a tough fight for the second and third spot with difference of few thousands of subscribers, both had 53 lakh subscribers in September ended quarter.

    The report said that there are total 1,606 Multi System Operators (MSOs) registered with the Ministry of Information and Broadcasting (MIB), of these 1,143 MSOs are operational. It further added, there are 12 MSOs & 1 HITS (Head in the Sky) operators who have subscribers base over a million.  

    TRAI while mentioning about Direct-To-Home (DTH) services’ growth said that the DTH service has displayed a phenomenal growth and in all there four pay DTH providers in India.

    According to the report, Pay DTH has attained total active subscriber base of around 69.30 million at the end of September quarter compared to 69.45 million in the same quarter of 2018.

    Tata Sky and Dish TV locking the horns for first and second position in market share, the latter has 31.61 per cent subscribers base and former 31.23 per cent. Whereas, Airtel being at the third position has subscribers base of 23.39 per cent and Sun Direct has 13.8 per cent.

  • VBS 2019: Media industry leaders to discuss challenges facing the industry

    VBS 2019: Media industry leaders to discuss challenges facing the industry

    MUMBAI: The much-anticipated Video and Broadband Summit (VBS) 2019 will be held today in Mumbai with participation from prominent media networks, broadcast distributors, media and advertising agencies, consultancy services, OTT platforms, media monitoring firms, as well as government regulatory bodies.

    Among the prominent media networks who will be participating in the summit are Sony Pictures Network, Star India, 9x Media, Enterr10 TV, BBC Global News, IN10 Media, Shemaroo and Zee. From the distributors side DEN Network, Maharashtra Cable Operators Federation, Fastway Transmissions, GTPL Hathway, Tata Sky, SITI Networks, UCN Cable and Ashwini Cable will be participating in the one-day summit at Hyatt Regency, Mumbai.

    Representatives of India’s prominent media agencies like IndiaCast Media, MediaKind, The Remediation Company, IndusInd Media and Communication, One Take Media, Madison Media will be participating in the event held in the shadows of TRAI’s February 2019 New Tariff Order (NTO) and amidst expectations and fears of further changes to the months-old act, described by many as one of the most significant reform in Indian media broadcast industry.

    There will be representation from auditing firms like PwC and KPMG as well. Since broadband service providers are now key to video distribution, there will be representation from Google, Reliance Jio Fiber, Reliance Jio and Win Broadband.

    TRAI advisor (broadcasting and cable services) Arvind Kumar will also address the gathering of industry leaders and there will also be a special presentation from BARC India COO Romil Ramgarhia.

    Bringing together industry leaders from all sectors of the media industry, the summit will discuss various issues at the heart of the NTO, how it’s impacting broadcasters and distributors, changes proposed to it and why broadcasters are unhappy with TRAI for floating a new consultation paper within six months of NTO.

    After a keynote address by Anil Wanvari, founder Indiantelevision.com, IndiaCast Media Distribution president Amit Arora, Star India Distribution president Gurjeev Singh Kapoor, IndusInd Media and Communications CEO Vynsley Fernandes, GTPL Hathway VP Yatin Gupta, The Remediation Company founder Shyamala Venkatachalam and Bhima Riddhi Digital Services promoter Nagesh Narayandas Chhabria will debate the TRAI consultation paper on tariffs in a panel discussion to be moderated by Elara Capital VP Karan Taurani.

    To give the perspective of distributors on how the NTO, and the expected amendments to it, affects their businesses, there will be a panel discussion in which SITI Networks CEO Anil Malhotra, GC member of SCTE India Shaji Mathews, Fastway Transmissions Consultant Peeush Mahajan and Bhima Riddhi Digital Services Promoter Nagesh Narayandas Chhabria will participate.

    Advertising industry is at the other end of the spectrum, the other big sector that had to adjust to post NTO environment. To discuss the advertisers' view and their take on the dynamic pay-TV landscape, there will be Godrej head media services Subha Sreenivasan Iyer, ITC PR and media head Jaikishin Chhaproo and Havas Media Group managing partner West & South Kunal Jamaur. They will participate in a panel discussion to be moderated by Castle Media CEO Ru Ediriwira.

    There will be a presentation from BROADPEAK business development manager Hervé Creff, on "Keeping control of HDMI1 with Android TV Operator Tier – the "super-aggregator" approach."

    This will be followed by a panel discussion on how to transform the TV broadcast sector to fuel growth – what are the key issues facing the industry and how can more transparency and discipline be injected into it? PwC partner and leader Raman Kalra, Elara Capital VP – research analyst (media) Karan Taurani, KPMG India partner Girish Menon and BBC News head of distribution – South Asia Sunil Joshi will participate in a panel discussion to be moderated by SBICAP Securities head of equity research Rajiv Sharma.

    Local cable operators also constitute an important link in the TV broadcast value chain in India. Despite the presence of strong DTH players like Tata and Bharti Airtel and the rise of OTT, as much as 65 per cent of TV homes in India are still connected through these local cable operators, as per TRAI estimates. Maharashtra Cable Operators Federation (MCOF) president Arvind Ramesh Prabhoo and IndusInd Media and Communication COO Rouse Koshy will participate in a panel discussion on how has the role of the LCO changed under the new regulatory framework and its significance going forward.

    The rise of some of the Free to Air (FTA) channels in the post NTO environment has been another prominent feature of 2019. To discuss the roadmap ahead for FTA channels, there will be a panel discussion in which SAB Group CEO Manav Dhanda, Enterr10 TV MD – Fakt Marathi Shirish Pattanshetty, IN10 Media COO Akul Tripathi, 9X Media chief revenue officer Pawan Jailkhani and Shemaroo Entertainment COO Kranti Gada will participate.

    To discuss the role of the internet in the broadcast industry, there will be a fireside chat between Anil Wanvari and Jio Fiber president Anuj Jain. The summit will end with a panel discussion on the role of the internet in video distribution in which Google Industry head media and entertainment Sandeep Ramesh, Jio VP – advertising and strategy Mohit Kapoor, COAI Director General Rajan S Mathews, ZEE5 chief revenue officer and business head Taranjeet Singh and MediaKind head of marketing – APAC Chiranjeev Singh will participate.

  • SITI Networks’ operating EBITDA surges 43% Y-o-Y & 16% Q-o-Q to Rs.975 Mn

    SITI Networks’ operating EBITDA surges 43% Y-o-Y & 16% Q-o-Q to Rs.975 Mn

    MUMBAI: SITI Networks Limited (BSE: 532795, NSE: SITINET), an Essel Group Company, one of India’s largest Multi-System Operators (MSO), has released its Consolidated Audited Financial Results for Q2 FY20, ending September 30, 2019, showcasing superlative growth across all metrics.

    SITI’s Operating EBITDA surged 43% over second quarter of last fiscal, a 16% sequential quarterly growth to Rs. 975 Mn. This jump has been due to strict control over operating efficiencies. SITI’s Operating EBITDA Margin also expanded significantly by 1.3 times y-o-y to 23.4% in Q2FY20.

    Subscription revenue grew 13.2% y-o-y to Rs. 2,885 Mn in Q2FY20, aided by the strong growth in Digital Subscription ARPU, which leapt 1.7 times to Rs.127 per month. Total Revenue (excluding activation) also surged 11.3% y-o-y to Rs. 4,171 Mn.

    SITI has continued to update its systems and processes across multiple touch-points to be fully compliant to the Tariff regime. The company has continued to work with all stake-holders, be it the Regulator, the 24,000+ strong distribution network, Broadcasters, and above all its esteemed customers to deliver its services. Recently, SITI extended the benefits of Festival Offer released by Broadcasters to its customers.

    While commenting on the results, Mr. Anil Malhotra, CEO of SITI Networks Limited mentioned:

    “SITI has continued to show-case robust growth across all metrics in Q2FY20. With key focus on our operational efficiencies, we saw our Operating EBIDTA grow 43% y-o-y to INR 975 Mn and the EBIDTA margins subsequently rose 1.3x y-o-y to 23.4%. We have also shown continued growth in our Subscription Revenue with a 13.2% jump over second quarter of the last fiscal to Rs.2,885 Mn.”

  • NBA names Rajesh Sethi Managing director of NBA INDIA

    NBA names Rajesh Sethi Managing director of NBA INDIA

    MUMBAI: The National Basketball Association (NBA) today named Rajesh Sethi, an accomplished media and technology executive with more than 20 years of experience in leading and managing global brands, as Managing Director of NBA India.  Sethi, who begins with the NBA on Sept. 12, will report to NBA Deputy Commissioner and Chief Operating Officer Mark Tatum.

    As Managing Director of NBA India, Sethi will oversee the league’s basketball and business development initiatives in India and will be supported by the region’s senior leadership team. 

    Most recently, Sethi was with the Essel Group, a leading business conglomerate in India, where he held various leadership roles with the group’s entities, including SITI Networks, Zee Entertainment and Ten Sports.  Since 2017, he has been the Chief Business Transformation Officer of SITI Networks, one of India’s leading cable television systems operators, and he spearheaded the creation of multiple new offerings for SITI Networks’ consumers.

    Prior to SITI Networks, Sethi was the CEO of Distribution and Sports Business at Zee Entertainment, a major Indian media company.  Additionally, he was the CEO of Ten Sports, a subsidiary of Zee Entertainment, where he oversaw the global sports broadcasters’ sports channels. 

    Earlier in his career, Sethi was the CEO and Region Director for South East Asia of Allianz Global, a specialty insurance provider, and held executive roles with General Electric in India and Tata Motors.

    “Rajesh’s extensive experience in the media and broadcast industry combined with his leadership and management abilities make him the ideal person to lead our efforts in India,” said Tatum.  “We look forward to working with Rajesh to help take basketball and the NBA to new heights in India at a time when the game has never been more popular across the country.”

    “I am thrilled to join the NBA at such an exciting time,” said Sethi.  “The league has done a wonderful job of growing its presence in India, and I look forward to working with all our partners and colleagues here as we explore new ways to increase basketball participation and engagement.” 

    Sethi holds a Professional Diploma from All India Management Association in New Delhi, a Post-Graduate Diploma in Management from Bharatiya Vidya Bhavan in New Delhi, and a Bachelor of Mechanical Engineering from University of Bangalore.

  • SITI Networks elevates Anil Kumar Malhotra to CEO

    SITI Networks elevates Anil Kumar Malhotra to CEO

    MUMBAI: SITI Networks has elevated Anil Kumar Malhotra as the new CEO of the company. Malhotra’s appointment will be effective from 1 September. He joined SITI Networks as chief operating officer in 2011.

    Malhotra holds over 34 years of rich experience across the cable television industry with deep expertise across various facets of media distribution like technology, content, regulatory compliances and sales operations.

    He also played a critical role in the successful implementation of new tariff order framework at SITI Networks and was instrumental in the transformation of SITI Networks from an analog player to a digital multiple system operator.

    Malhotra had various successful entrepreneurial stints, including serving as president (North India) for In-Cable. He realised the potential of cable TV & distribution, long before the emergence of MSOs, and ventured into hardware manufacturing for the industry and later setup his multiple Master Control Rooms & Head-ends.

    He has  been an  active member of  various  government & industry bodies including MIB task forces  for implementation of DAS regulations, new tariff order, etc. 

  • TRAI sends directive to 5 major MSOs for non-compliance of NTO provisions

    TRAI sends directive to 5 major MSOs for non-compliance of NTO provisions

    MUMBAI: The Telecom Regulatory Authority of India (TRAI) has directed five major multi system operators to comply with all provisions of its the new tariff order (NTO). After receiving scrutiny of the reply of earlier notice from the MSOs, TRAI found violation of rules of NTO.

    Following issues were found by the regulator for Induslnd Media and Communications Ltd   :

    ·         LCOs are not  providing  the itemised invoices to  the  consumers.  Some LCOs  are providing their  own  Cash memo bills.

    ·         Consumer portal provided by IMCL is not  working

    ·         IVRS facility of IMCL does not  have  any  provision for complaint registration.

    ·         LCOs without GST Registration are collecting tax  amount from  the  subscribers but not  depositing it.

    Following issues were found by the regulator for Hathway Digital:

    • Facility of Bill generation is available in LCO portal, but the customers are  not able  to get itemised billing in most cases even  after the request of the  subscriber,

    •LCOs without GST Registration are collecting tax  amount from  the  subscribers but  not  depositing it.

    Following issues were found by the regulator for GTPL Hathway:

    •IVRS facility of M/s GTPL Hathway Ltd.  does not  have provision for  complaint registration

    •The consumer portal of GTPL KCBPL has very  limited facilities. The facility ofupgradation and modifications in  subscription is  not  available on  consumer portal.

    •LCOs without GST Registration are  collecting tax  amount from  the  subscribers but not  depositing it.

    Following issues were found by the regulator for SITI Networks:

    •LCOs can  provide itemized invoices to consumers but most of the  LCOs are  not providing the  same. Some LCOs are  providing their own  cash memo bills;

    •IVRS facility of Siti  Networks Ltd.  does  not   have any  provision for  complaint registration.

    Following issues were found by the regulator for DEN networks:

    • LCO are  providing their own  cash memo bills  using card system for  payment receipts, while  the  subscribers are  not  able to get itemized bills

    • Facility of  upgradation  and  modification in  subscription is not   available on consumer portal.

    •LCOs without GST registration are  collecting tax  amount from  the  subscribers but  not  depositing it.

    All the MSOs have been directed to report compliance as per the new regulatory framework within seven days from the date of issue of this direction.

  • SITI Networks’ subscription revenue surges 36% y-o-y, ARPU grows 2x

    SITI Networks’ subscription revenue surges 36% y-o-y, ARPU grows 2x

    MUMBAI: SITI Networks Limited, an Essel Group company, on Monday released its consolidated audited financial results for Q1 FY20.

    Continuing with the strong performance from last fiscal, SITI reported growth in its Operating EBITDA by 1.5x to Rs.841 Mn in Q1 FY20. Capitalising on the growth opportunity provided by New Tariff Order, SITI has delivered by growing the revenue at a phenomenal rate while maintaining the strict control over the operational efficiencies. This manifested itself in Operating EBITDA Margin expanding significantly by 471 bps y-o-y to 21.4%

    Subscription revenue increased by more than 36% y-o-y to Rs. 2,932 Mn in Q1 FY20, aided by improving monetization and upselling better value offerings to customers. Total Revenue (excluding activation) also surged ~20% y-o-y to Rs. 3925 Mn.

    To better serve the subscribers under the new regime, SITI has created multiple offerings for the consumers which cater to multiple demographics and geographies.

    As a result of these customer-oriented offerings more than 57% of the base opted for these curated MY SITI plans as it gives them the best of content and economic value with minimal effort which has resulted in Digital Subscriber ARPU leaping 2x y-o-y & 1.5x over the previous quarter to Rs.125. This transition has resulted in the choice belonging to the consumer now.

    While commenting on the results, Rajesh Sethi of SITI Networks mentioned:

    “SITI has successfully started to incorporate the New Tariff Order to the very roots of our business and this is validated by the stellar results displayed in the first quarter of current fiscal. Our subscription revenue grew over 36% y-o-y with total revenue (excl. activation) increasing by more than 19% y-o-y. With the increase in collection & operational efficiencies we saw our Operating EBIDTA grow 1.5x y-o-y to INR 841 Mn and the EBIDTA margins subsequently rose 1.3x y-o-y to 21.4%. Our product strategy to provide the optimal entertainment choices to our subscribers is bearing fruit as the ARPU has grown 2x y-o-y and we are sure that this growth momentum will only grow stronger.”

  • SITI Networks launches My SITI mobile app

    SITI Networks launches My SITI mobile app

    MUMBAI: SITI Networks Limited, an Essel Group company, has launched My SITI mobile app for its customers. The My SITI app gives a convenient way to SITI’s 55 Mn consumers to access and operate their SITI Digital cable TV connection.

    In line with the regulations of the New Tariff Order, and TRAI’s migration plan, the app will give options to customers to indicate their choice of channels / bouquets during the transition period. My SITI App can be downloaded from Google Play Store (https://goo.gl/75pF66) to all Android based mobile devices. SITI has launched a multi-platform campaign to educate its customers on the app and the true power of choice. SITI has also activated the app for their 24000+ business associate network to help them take customer choice in compliance with TRAI’s migration plan. SITI has also activated the feature on its website and is aggressively reaching out to customers and partners through a multi-dimensional campaign.

    My SITI app would also enable customers to select channels / bouquets / packages, make payment, and share feedback through a very simple and intuitive interface on their mobile phones. This is in line with SITIs philosophy of institutionalizing systems and process to drive business operations and compliances.

     “We have always worked towards giving the power of choice in the hands of our customers and enable transparency. My SITI app for customers is a testament to our resolve and a step that will empower our customers by providing real-time access to their accounts, payments and transaction history. We are also enabling customer choice for the successful implementation of the New Tariff Order and QoS regime,” SITI Networks chief business transformation officer Rajesh Sethi said.

  • SITI Networks Limited announces “SITI PlayTop”, its first Hybrid Set Top Box

    SITI Networks Limited announces “SITI PlayTop”, its first Hybrid Set Top Box

    MUMBAI: SITI Networks Limited, has announced that it will be introducing a range of Set Top Boxes for delighting its customers. To begin with, the company has announced, “SITI PlayTop”, its first Hybrid Set Top Box.

    “SITI PlayTop” is a hybrid device that has YouTube and YouTube Kids in-built along with the benefits of SITI HD+ Digital Cable Television. The box has an in-built Wi-Fi receiver which allows customers to use their existing broadband connection of any ISP to make their TV Smart. “SITI PlayTop has DVR facility along with USB play- back functionality. This hybrid STB is being initially launched in SITI’s dominant markets of West Bengal, Bihar, Jharkhand, Assam, Odisha, Delhi & Haryana followed by a progressive rollout across India in the coming months.

    This is the first device in a range of customer focused offerings planned by SITI. The company intends to roll out more devices in their line-up over the next few months.  While launching “SITI PlayTop”, Mr. Rajesh Sethi of SITI Networks Limited mentioned –

    “SITI has been at the forefront for delighting our customers with latest technology. In this regard, we are today introducing SITI PlayTop, our first hybrid set top box. SITI PlayTop has YouTube & YouTube Kids in-built, which is the most actively viewed app globally. This box will make any TV Smart while bringing the ultimate viewing experience of SITI HD+ Digital Cable Television with DVR facility. Customers will be able to cast YouTube and other apps from their mobile phones on to their TV using SITI PlayTop. The box features a Smart and Intuitive UI which is a testament of our teams’ customer connect.

    After initial rollout in our dominant markets of West Bengal, Bihar, Jharkhand, Assam, Odisha, Delhi

    & Haryana, we will be progressively rolling out across India in the coming months.

    This is just the first step for us, in a long range of customer delight devices which we intend to rollout in the coming months in line with our Customer First motto. We are working with several OEM partners to incorporate AI and machine learning into our work-flows and offerings. The idea is to have a holistic device line-up for our customers to choose from.”