ITV

Tag: Statement

  • Jellyfish Pictures issues statement on suspension of operations

    Jellyfish Pictures issues statement on suspension of operations

    MUMBAI: Yesterday our sister publication AnimationXpress broke the news that Jellyfish Pictures was ceasing operations. At that time, there was no real confirmation coming from the the studio which has been struggling to stay afloat. Today, however, the company issued a statement giving its reasons for pulling the plug temporarily on itself – at least until it succeeds in finding a white knight or investor.

    Here goes the Jellyfish Pictures statement: 

    “Like so many other companies operating across the VFX, animation and wider creative industries, we’ve been battling hard in the face of strong headwinds over the past twelve months. The long-tail impact of Covid, coupled with rising costs and the fall-out from the writer and actor strikes, have had a profound effect on our business.

    “Over recent months, we’ve been working closely with our key stakeholders to find a path forward, including exploring all options for sale and investment, with the aim of putting in place a strong financial platform upon which we can build. While we continue to engage in these discussions and explore our options, we have today taken legal steps to protect the position of the business while we strive to find a way forward.”

    “We have so much to be proud of. We’ve worked on fantastic, ground-breaking projects with brilliant partners. And we want to thank our amazingly talented award-winning teams who day in, day out, strive to push creative boundaries with their innovative thinking and skill.”
    Jellyfish Pictures spokesperson

     

  • Broadcasters exploiting NTO 2.0 provisions for a-la-carte pricing: Trai

    Broadcasters exploiting NTO 2.0 provisions for a-la-carte pricing: Trai

    Mumbai: The Telecom Regulatory Authority of India (Trai) on Friday said that some broadcasters are exploiting the freedom given for al-a-carte pricing of TV channels and warned that it will keep a strict watch on the industry and not shy away from acting in the larger interest of consumers and the industry.

    With an increase in TV channel subscription rates impending, the Trai said in a statement that the new tariffs announced by leading broadcasters reflects their intention to raise the prices of driver and popular channels, according to a report by PTI.

    These driver channels include general entertainment channels (GECs) and sports channels. The regulator refrained from naming any broadcaster but alluded that some leading broadcasters had hiked channel tariffs arbitrarily.

    The regulator claimed that the prices that some of the broadcasters have announced for their channels are unsustainable, are not demand driven or market driven prices and are against the interest of the consumer.

    This price hike has been announced in the garb of complying with the NTO 2.0, which is not true and rather an attempt to defeat the purpose of NTO that has already benefited the consumer to a large extent, stated Trai.

    Trai further said, “A sustained and misleading campaign is being run to create an impression that the impending price increase is due to the new tariff regime (NTO) 2.0. It is being publicised that any/every consumer who opts for top GECs or sports channels will end up paying an extra amount of Rs 100,” according to the PTI report.

    The purpose of the amendments to regulations for broadcasting and cable services sector was to ensure that no service provider corners undue gains and profiteers at the expense of consumers, as per Trai. It pointed out, “the channel pricing has remained under the prescribed ceiling for 15 years since 2004.”

    Under the provisions of the new framework, broadcasters may freely fix the price of their television channels with certain conditions applicable for inclusion into a bouquet. The regulations state that a channel MRP greater than Rs 12 cannot be included into a bouquet. The framework should result in reduced bills for the consumers, said the regulator.

    The implementation of NTO 2.0 will lead to an era of transparent tariffs and usher in better channel content at the most competitive prices, stated Trai. The regulator said that it is conscious of the time required to implement necessary changes to be carried out to incorporate the considered choices of 150-160 million pay TV households.