ITV

Tag: Star India

  • Gayatri Yadav roped in as group CMO and EVP at Reliance Industries

    Gayatri Yadav roped in as group CMO and EVP at Reliance Industries

    MUMBAI: Veteran marketing leader Gayatri Yadav has joined Reliance Industries Limited as group chief marketing officer (CMO) and EVP, strategic initiatives, chairman’s office. In this role, she will collaborate closely with Mukesh Ambani, Nita Ambani, Isha Ambani, Akash Ambani, and Anant Ambani to drive brand innovation and strengthen consumer engagement.

    Gayatri, who brings over three decades of diverse experience, has held prominent positions across FMCG, media, and investment sectors. Her career includes key roles at Procter & Gamble, General Mills, and Star India, where she spearheaded major marketing strategies. Most recently, she served as CMO at Peak XV Partners (formerly Sequoia India & SEA), leading its rebranding and digital growth initiatives.

    Reflecting on her journey, Gayatri expressed gratitude for past opportunities and highlighted her excitement to contribute to Reliance’s growth-driven vision, stating: “What is good for India is good for Reliance.”

    Beyond her corporate roles, Gayatri holds board positions at Paani Foundation, United Way Mumbai, and PRS Legislative Research, underscoring her commitment to social impact.

  • Zeel files $8 million counterclaim against Star India in ICC media rights dispute

    Zeel files $8 million counterclaim against Star India in ICC media rights dispute

    MUMBAI:  Like two Sumo wrestlers in the ring sizing each other up, Zee Entertainment Enterprises Ltd (Zeel) and the Reliance-and Walt Disney backed Star India have been circling each other, eyeing each other in relation to a failed  International Cricket Council (ICC ) men’s cricket rights (2024-27) rights deal the two had made with each other in August 2022. Both have been saying the other owes them money as the failed deal has proved to be an expensive affair.

    Star’s first claimed $940 million in damages in September 2024  over the failed International Cricket Council (ICC) broadcasting rights deal. Now, it’s the turn of  Zeel to file an $8 million counterclaim, plus interest against Star India. The dispute is being arbitrated by the London Court of International Arbitration (LCIA)

    It all began with Star sub-licensing ICC rights to Zeel.   Zeel later withdrew from the agreement and Star India took over the entire $3billion liability for the rights.  Star  has argued  that Zeel TV  failed to pay the $203.56 million first instalment (Rs 1,693 crore) and  meet additional financial obligations of Rs 17 crore for bank guarantees and deposit interest. In March 2024, Star initiated arbitration seeking enforcement of the agreement or damages. It later terminated the contract in June 2024 and focused on claiming damages. 

    Zeel submitted its defence on 23 December 2024, refuting Star’s claims and seeking a refund of Rs 69 crore paid under the agreement. The LCIA constituted a three-member tribunal, with proceedings at an early stage. Zee TV has argued that that the agreement became void due to Star’s failure to meet conditions precedent, including financial guarantees and ICC approval. Zeel  also cited the planned (but now failed) merger with Sony Pictures Networks as a complicating factor. Star India reported a Rs 12,548 crore net loss for FY24, driven by a Rs 12,319 crore provision for the ICC media rights deal.

    Zeel maintains that the dispute will not significantly impact its operations or finances, citing the strength of its legal position. The company’s board is monitoring the matter and remains confident in its ability to defend against Star’s claims.

  • Supriyo Banerji moves to JioStar Digital (entertainment) as vertical head (LCS)

    Supriyo Banerji moves to JioStar Digital (entertainment) as vertical head (LCS)

    MUMBAI: Until December 2024 Supriyo Banerj was selling air time for the entertainment component of JioCinema as the national vertical head. Came January 2025, he moved to JioStar Digital (entertainment) as the vertical head (LCS), following a reshuffling of resources between Disney Star and Viacom18 after the merger.

    Banerji’s experience spans over 15 years, with a proven track record of leading high-performance sales teams, driving business growth, and delivering revenue results. Prior to joining Star India, Banerji held key roles at Viacom18 Media Private Limited, Zee Entertainment Enterprise Ltd., Star India, and Radio Mirchi.

    As vertical head (LCS) – Jiostar Digital (Entertainment), Banerji will be responsible for driving brand growth, building relationships with key stakeholders, and developing content-driven solutions. With his expertise in campaign management and team leadership, Banerji will play a crucial role in shaping JioStar’s digital entertainment strategy.

    Banerji holds a PGDIB from Symbiosis Institute of Management Studies and has a strong background in sales, advertising, and solution selling. His passion for big-picture thinking and collaborative leadership will be valuable assets to the JioStar India team.

    Banerji’s appointment became  effective January 2025, and he is  based in Gurugram, Haryana.

  • Warner Bros Pictures appoints Rishi Parekh as director content licensing

    Warner Bros Pictures appoints Rishi Parekh as director content licensing

    MUMBAI: Warner Bros Pictures has roped in Rishi Parekh as director content licensing, India. He has a lot of pedigree behind him and is known for his negotiation skills.  

    An MBA holder from University of Southern Queensland, Parekh’s previous stint was for seven years with Zee Entertainment where he was the chief channels officer English.

    Prior to that he was senior manager commercial at Star India, also for nearly seven years. And before that he was with IOL Netcom for nearly five years.

  • Ambesh Tiwari to succeed Leena Lele Dutta as Sony Yay! business head

    Ambesh Tiwari to succeed Leena Lele Dutta as Sony Yay! business head

    Mumbai: Sony Pictures Networks India (SPNI) has announced a major leadership change within its kids and animation division. Leena Lele Dutta, who mothered and nurtured the portfolio, including the Sony Yay! channel since its launch in 2017, will step down as business head by the end of this fiscal year. Under her leadership, Sony Yay! became a top destination for children’s entertainment, known for its animated series, original content, and ventures into animation production and ancillary businesses.

    Ambesh Tiwari, the newly appointed business operations head, will take over her role. He brings significant experience from roles at Star India, Zee Entertainment, and Life Ok, where he was instrumental in launching channels like Zee Keralam and Zee Punjabi. His academic background includes an MBA from the University of Oxford, Young India Fellowship from Ashoka University, and a diploma in media law and public policy from Nalsar University.

    Leena will collaborate with Ambesh in the coming months to ensure a smooth transition. 

    SPNI acknowledged her significant contributions in a press release issued earlier today and wished her well for the future while expressing confidence in Ambesh’s ability to lead Sony Yay! to continued growth and success in delivering quality children’s content, 

  • Reliance-Viacom18-Disney merger gets NCLT nod too

    Reliance-Viacom18-Disney merger gets NCLT nod too

    MUMBAI: Even as media watchers await the detailed order of the Competition Commission of India, (CCI) another hurdle has been cleared by Reliance Industries relating to the merger of Viacom18 and Disney Star India – that of the National Company Law Tribunal (NCLT).

    It was on Friday that the NCLT gave it the green signal. Judicial member Kishore Vemulapalli and technical member Anu Jagmohan Singh gave the thumbs up to what will become India’s leading media conglomerate valued at over Rs 70,000 crore.

    Reliance owns a clutch of channels including the Colors and Sports 18 brands through its offshoot Viacom18 as well as the OTT platform JioCinema. It is seeking to merge these into Star India creating a giant merged combined entity.

    The NCLT has directed the companies to get ministry of information and broadcasting approval before resorting to any such transfer of channels. 

    Additionally, it has directed the firms to file the NCLT order and the approved scheme with  the registrar of companies within 30 days as well as approach the superintendent of stamps for stamp duty adjudication, if applicable, within 60 days.

  • The Reliance-Disney merger’s impact on the media ecosystem: an Elara perspective

    The Reliance-Disney merger’s impact on the media ecosystem: an Elara perspective

    MUMBAI: We believe the merger of Viacom18 and Star India will have a big impact on the entire M&E ecosystem as the combined entity will command a huge market share. The merger will create a large media juggernaut with 108 plus channels (Star India has 70+ TV channels in eight languages whereas Viacom has 38 TV channels in eight languages), two large OTT apps (Jio Cinema and Hotstar) and two film studios (one each of Reliance and Disney India). Large market opportunity (TAM) for the merged company, as India’s M&E market for print, TV and digital is at $18 billion in CY22, poised to post a CAGR of 8.2 per cent  over CY22-25 (Source: EY FICCI).

    Post the merger, the combined entity will command a TV advertisement/TV subscription (excluding distributors/DTH/MSO revenue)/Total TV market share of 40 per cent /44 per cent /42 per cent  (as of FY23) respectively. The merged entity is expected to command a digital OTT market share of ~34 per cent  in CY23, while the TV viewership share in top 10 channels (according to BARC) is ~40 per cent  as of CY23. The consolidation between RIL and Disney on the India TV side could have a negative impact on other linear TV broadcasters, such as Sun TV, Zee, Sony, and others, as they may not be scale up on market share. The merged entity’s focus on maximizing market share through increased investments in content, synergies, and enhanced marketing power poses challenges for individual broadcasters to compete and grow. With a large customer base across various genres, including regional genres and urban GEC, the combined entity aims to dominate key markets, potentially leading to market share loss and challenges for other players, including the possibility of smaller channels shutting down.

    Jio Cinema + Disney Hotstar merger – potential negative for global OTT giants

    The merger of JioCinema and Hotstar poses a challenge for global OTT platforms, as India’s market values bundling and is price sensitive. The combined entity can offer a comprehensive package including web series, movies, sports, originals, and a global catalogue. This bundled premium plan, possibly in collaboration with Jio’s large subscriber base, may hinder the ability of global OTT platforms to raise Average Revenue Per User (ARPU).

    Better prospects of profitability in the medium to long term

    The merger may result in improved profitability for the combined entity as there may be a reduction in employee cost, production cost and marketing costs on the TV side and content costs, particularly on the OTT side, which could contribute to a more sustainable path to profitability over the medium to long term. Currently, both platforms are facing heavy losses due to high content costs, and Jio Cinema relies solely on AVOD without significant paid subscriber revenue. With the combination of Hotstar and JioCinema, the merged entity can enhance its subscription revenue by increasing subscription prices and attracting a larger subscriber base. Reliance may drive the entire business through Jio Platforms, with a significant influx of ad revenues in digital advertising. The digital advertising market, being a winner-takes-all business, heavily relies on scale. They may also have a pay-based mechanism via Jio Cinema/Hotstar at a larger scale which will propel healthy subscription revenue over the medium term

    Monopoly in sports properties may lead to higher ad revenues

    On the sports front, the merged entity is set to become monopolistic, with Disney and Jio collectively controlling approximately ~75-80 per cent  of the Indian sports market across both linear TV and digital platforms. This dominance in sports, primarily cricket, positions them to command a substantial share of the overall ad market, showcasing strong growth in an industry where sports is a key driver of viewership on both linear TV and digital platforms. In CY22, sports adex (TV+Digital) in India stood at  Rs 71billion (according to GroupM) out of which Disney India had a contribution of ~80 per cent . The combined entity will have lucrative sports properties like Indian Premier League (both TV and digital), ICC cricket tournaments (both TV and digital), Wimbledon, Pro Kabaddi League, BCCI domestic cricket etc.

    Telco customer retention and bundling

    Telecom companies have used OTT as a value-add to retain/gain subscribers. And OTT companies piggyback on telecom plays to scale up their subscriber base – TSPs (telecom service providers) have larger access to a wide variety of customers. With the vast content library of Jio and Disney, the merged entity’s content, spanning 1) international movies, 2) web series, 3) sports content and 4) catch-up TV content, could prove advantageous for Jio subscribers and make it a one-stop content hub. There might be initiatives such as a Jio Prime offering, providing subscribers access to content at an affordable or even free price through last mile resource and 5G wireless access. The company will have a big advantage of last mile with Jio having a subscriber base of more than 450 million smartphone users This will hit Bharti Airtel as it has tried to tie up with OTT players in the content ecosystem to offer value-add. Thus, Bharti Airtel may have to invest heavily in own content or shape partnerships with global OTT giants such as Netflix and Amazon or other OTT platforms to generate clout in the content ecosystem.

    Synergy prospects

    – The ad revenue potential from IPL is expected to increase significantly with the merged entity having exclusive rights (TV+Digital) to IPL. This consolidation may result in bundled advertisement revenues, potentially mitigating the higher cost of IPL rights and reducing overall losses; due to IPL rights being split between TV and digital between two different platforms and digital platform offering IPL free, there was a big dent in the IPL revenues on TV, which could see some respite.

    – The merger is anticipated to bring about restructuring in employee costs, reduced production expenses, and lower advertisement costs for TV. These potential cost synergies could contribute to improved margins for the merged entity. On the sports side too, content costs may pare sharply for TV, digital over the medium to long term, given that fewer platforms may bid aggressively for expensive properties.

    – In digital, content cost inflation (content cost for web series 3-5x higher than for TV non-fiction shows, per episode) has been sharper due to heavy fragmentation in the OTT market and entry of global giants with deep pockets. With the merger, content cost in digital may see much lower growth, which may improve the unit economics for the OTT business, potentially resulting in lower EBITDA losses for Jio Cinema and Hotstar.

    – Considering the critical role of technological advancements in the success of OTT platforms, the integration of Disney’s technological expertise is expected to enhance the user experience on Jio Cinema. This improvement may subsequently drive higher subscriber numbers and revenue growth.

    Risks

    – Post CCI approval, NCLT (National Company Law Tribunal) approval may take another eight to 12 months

    – A below par customer experience on the video apps despite a wide variety of content may not augur well in subscribers paying for the same; global OTT giants like Netflix have a very superior experience to command a premium ARPU

    – Continuance of hefty losses of the merged entity over the near to medium term due to high costs sports properties (IPL, ICC tournaments & BCCI bilateral rights) could negatively impact valuation prospects for the merged entity

    Shareholding pattern of the merged entity

    After the merger, the ownership structure of the combined entity will be as follows: Reliance will hold 53 per cent  stake through cash infusion, after acquiring Paramount’s balance stake and factoring TV18 and Viacom 18 stake in JV, which are RIL’s subsidiaries;  Disney will hold 36.8 per cent , whereas the Bodhi Tree (stake through Viacom18) /TV18 (ex of Reliance stake) will hold balance 6.2 per cent /3.8 per cent  stake respectively.

    Valuation

    The joint entity, including cash infusion, is valued at  RS 704bn. This valuation comprises  Rs 115 billion in cash,  Rs 330 billion for Viacom18 (including Jio Cinema) and the remaining  Rs 260 billion (~USD 3.2 billion) is the combined valuation of Star India and Hotstar. This valuation of Star India and Hotstar is much lower compared to pre-covid valuation of $12-13 billion which may be due to 1) loss of IPL digital rights leading to ~50 per cent  ad revenue decline and 40 per cent  subscription revenue decline for Hotstar, 2) TV ad revenue remaining flat over FY19-23 and 3) sports content which may continue to incur hefty losses in linear TV due to slower revenue growth. From a valuation standpoint, the impact on TV18 (which owns 13 per cent  in Viacom18) is minimal to negative, as the combined entity is expected to generate substantial losses in the near term due to sports content. Additionally, TV18’s stake in the merged entity is valued at  Rs 42 billion, implying a hefty premium for its news business at  Rs 40 billion (considering TV18’s overall current market cap of  Rs 82 billion).

  • Star India ends $1.5 billion deal with Zee Entertainment for ICC TV rights

    Star India ends $1.5 billion deal with Zee Entertainment for ICC TV rights

    Mumbai: Star India has ended its $1.5 billion deal with Zee Entertainment Enterprises Ltd for ICC TV rights, as announced in a regulatory filing by Zee Entertainment on 20 June. The dispute between the two companies, which began with Star India’s arbitration proceedings on 14 March, is being resolved through the London Court of International Arbitration (LCIA).

    The agreement, originally formed on 26 August  2022, was a sublicensing arrangement for ICC TV rights covering Men’s and Under-19 (U-19) global cricket events through 2027. However, Zee Entertainment’s subsequent failed merger with Sony Pictures Networks India left it unable to fulfill its obligations under the deal as an independent entity.

    Zee Entertainment has informed Star India of its inability to continue with the agreement and has requested a refund of Rs 69 crore that was already paid. The deal’s performance was contingent on several conditions, including the submission of financial and corporate guarantees and final ICC approval, which were not met.

    Additionally, Zee has accumulated Rs 72.14 crore in bank guarantee commissions and interest expenses related to its share of guarantees and deposits. Zee contends that Star India’s failure to secure necessary approvals and execute required documents amounts to a breach of the agreement, leading Zee to repudiate the contract.

  • NDTV onboards new marketing head in Gaurav Barjatya

    NDTV onboards new marketing head in Gaurav Barjatya

    MUMBAI: There’s change afoot at group NDTV. Former Star TV India and Times Pro exec, Gaurav Barjatya has hopped on board the Adani-owned newscaster as its marketing head. 

    He brings to NDTV around 20 years of work experience, with companies as varied as Idea Cellular, Parle Agro, Star TV India, WWE, and Times Pro.

    Barjatya had managed either brands or held the full marketing function at each of these companies. 

    Said he on Linkedin: “I am looking forward to diving into this new journey headfirst, ready to make an impact!”

  • Viacom18 revamps leadership amid Disney merger

    Viacom18 revamps leadership amid Disney merger

    Mumbai: In a recent restructuring move, Kiran Mani, CEO of Viacom18’s digital arm, is poised to spearhead the brand’s digital and sports ventures, while Kevin Vaz, CEO-Broadcast, will take charge of content clusters across TV and digital platforms, as reported by various media outlets.

    This organisational shift follows the merger of Viacom18 and Star India through a joint venture announced on 28 February, which was initiated by Reliance Industries in collaboration with Disney. According to internal communications, Mani will extend his leadership to include Viacom18’s linear sports channels alongside his role as CEO of the digital division. With a background of 13 years at Google before joining Viacom18 last year, Mani will now oversee Viacom18 Sports CEO Anil Jayraj, within this new organisational structure.

    Kevin Vaz, who joined Viacom18 in July last year following his departure from Disney Star in April, is also a key figure in this leadership transition. He will take on responsibility for the entire content business. Both Mani and Vaz will function as Co-CEOs within the media company.

    In tandem with these changes, Reliance and its affiliates will hold a 63.16 per cent stake in the joint venture, while Disney will maintain a 36.84 per cent stake, as per the terms of the deal. This consolidation will position the nation’s leading media company to operate two streaming services and approximately 120 television channels.