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Tag: The Walt Disney Company

  • Disney, Globe Telecom ink multi-year content sharing deal

    Disney, Globe Telecom ink multi-year content sharing deal

    MUMBAI: Philippines’ mobile brand Globe Telecom has entered into a multi-year collaboration with The Walt Disney Company Southeast Asia.

     

    This collaboration will give Filipino customers access to video-on-demand (VOD), interactive content, promotions and other related services across multiple devices and affirms the relationship of Globe with Disney whose brands include Disney, Pixar, Marvel, Star Wars and global leader in short-form video, Maker Studios.

     

    Globe customers will now have access to an array of Disney content offerings including long- and short-form programming, interactive content and games, theatrical releases and retail promotions.

     

    These include Disney Movies On Demand (DMOD); Disney On Demand (DOD) and Maker On Demand. Additionally, the Maker Globe will also team to create custom branded entertainment featuring top digital influencers—supporting the Globe service.

     

    Some of the other content includes Watch Disney Channel apps providing access to Disney Channel, Disney Junior and Disney XD; Disney Interactive; and promotions, merchandising, and retail activations that bring Disney’s latest theatrical releases closer to Filipinos.

     

    “We are very happy to enter into a relationship with such an iconic brand. Everyone loves Disney – that’s why we are excited to bring the brand closer to Filipinos and give the best content experience on their devices anytime, anywhere. We know that our customers are equally excited to get into the wide portfolio of Disney content such as movies, TV shows, games, merchandising, theatrical releases, and interactive videos available across our mobile and broadband services,” says Globe senior advisor for consumer business Dan Horan.

     

    “We are thrilled to bring the Disney brand of storytelling closer to more Filipinos through this collaboration with Globe. With this unique collaboration, Disney fans in the Philippines will now be able to take their favorite stories and beloved characters everywhere they go across their choice of devices,” adds The Walt Disney Company Southeast Asia managing director Rob Gilby.

     

    This collaboration is the latest in Globe’s global partnerships with companies like Facebook, Google, Viber, Spotify, NBA, Hooq and recently WhatsApp.

  • Disney’s Q2-2015 revenue up 7%, income up 10%

    Disney’s Q2-2015 revenue up 7%, income up 10%

    BENGALURU: The Walt Disney Company Inc reported an increase of seven per cent in its revenue in Q2-2015 (quarter ended 28 March, 2015, current quarter) to $12461 million from $11649 million in the corresponding year ago quarter. Net income during the current quarter improved 10 per cent to $2108 million from $1917 million reported for the quarter ended 27 March, 2014 (Q2-2014).

     

    Of the five segments that add to Disney’s numbers, three – Media Networks, Parks & Resorts and Consumer Products showed improvement in revenue, while the other two – Studio Entertainment and Interactive segments showed decline in revenues. Segment Operating Income from three – Parks and Resorts, Consumer Products, and Interactive increased, while segment operating income from Media Networks and Studio Entertainment declined in Q2-2015 as compared to Q2-2014.

     

    “Our second quarter performance, marked by increased revenue, net income and EPS of US 1.23, demonstrates the incredible ability of our strong brands and quality content to drive results. The power of this winning combination is once again reflected in the phenomenal worldwide success of Marvel’s Avengers: Age of Ultron, which has opened at number one in every market so far,” said Disney chairman and chief executive officer Robert A Iger.

     

     

    Segment Results

     

    Media Networks

     

     

    Media Networks revenues for the current quarter improved 13 per cent to $5810 million from $5134 million reported for Q2-2014. Operating Income from this segment declined two per cent to $2101 million in Q2-2015 from $2133 million in Q2-2014.

     

    Two sub-segments – Cable Networks, and Broadcasting contribute to this segment.

     

    Cable Networks reported a growth of 11 per cent in revenue to $4030 million in Q2-2015 from $3633 million in Q2-2014, but reported a drop of nine per cent in Operating Income to $1799 million in Q2-2015 as compared to the $1974 million in Q2-2014. The drop in income was due to a decrease at ESPN, which was driven by higher programming and production costs, partially offset by growth in affiliate and advertising revenues. Programming and production cost increases were due to higher rights costs for college football programming and the addition of an NFL wild card playoff game and the SEC Network, which was launched in August 2014.

     

    Disney says further that the increase in affiliate revenues was due to contractual rate increases, an increase in subscribers, taking into account the new SEC Network, and a reduction in revenue deferrals as a result of changes in contractual provisions related to annual programming commitments. ESPN advertising revenue growth was due to higher rates and units sold.

     

    Broadcasting reported 19 per cent hike in revenue in the current quarter to $1780 million from $1501 million and reported a massive 90 per cent increase in operating income to $302 million from $159 million in the corresponding quarter of last year due to growth in affiliate fees, higher program sales and an increase in advertising revenues. These increases were partially offset by higher marketing costs for the launch of new series.

     

    Parks and Resorts

     

    Parks and Resorts reported a growth of six per cent in revenue to $3760 million from $3562 million in the corresponding year ago quarter and a 24 per cent increase in Q2-2015 operating income to $566 million from $457 million in Q2-2014. Operating income growth for the quarter was due to an increase at Disney’s domestic operations, partially offset by a decrease at its international operations.

     

    Studio Entertainment

     

    Studio Entertainment reported decline in revenue to $1685 million in Q2-2015 as compared to the $1800 million in Q2-2014, and segment operating income decreased 10 per cent to $427 million from $475 million in Q2-2014.

     

    Lower operating income was driven by decreases in domestic home entertainment and international theatrical distribution, partially offset by a higher revenue share with the Consumer Products segment, reflecting performance of Frozen merchandise in the current quarter, and lower film cost impairments. The decreases in domestic home entertainment and international theatrical distribution both reflected the performance of ‘Big Hero 6’ in the current quarter compared to Frozen in the prior-year quarter

     

    Consumer Products

     

    Consumer Products Q2-2015 revenue increased 10 per cent to $971 million from $885 million in Q2-2014 and operating income improved 32 per cent to $362 million from $274 million in Q2-2014.

     

    Higher operating income was primarily due to an increase at Disney’s Merchandise Licensing business due to the performance of merchandise based on Frozen and, to a lesser extent, The Avengers.

     

    Interactive

     

    Revenue from this segment fell 12 per cent to $235 million in Q2-2015 from $268 million in Q2-2014, but segment operating income increased 86 per cent to $26 million from $14 million in Q2-2014.

     

    Improved operating results were due to lower marketing and product development costs and the success of its mobile game Tsum Tsum, partially offset by lower ‘Disney Infinity’ performance and decreased sales of mobile game catalogue titles due to fewer titles in release. Lower marketing and product development costs were driven by fewer mobile game titles in development and the benefit of previous restructuring activities.

  • Disney shareholders re-elect board; reject split of CEO & chairman roles

    Disney shareholders re-elect board; reject split of CEO & chairman roles

    MUMBAI: Shareholders of The Walt Disney Company at the 2015 Annual Meeting today elected all 10 members of the Board of Directors and supported Board recommendations on the Company’s auditor and the advisory vote on executive compensation, based on preliminary results.

     

    Shareholders agreed with the Board in rejecting two shareholder proposals, one regarding the future selection of an independent Board chairman, and the other limiting accelerated executive pay.

     

    Disney chairman and CEO Robert A. Iger welcomed shareholders to the meeting at The Palace of Fine Arts Theatre in San Francisco and introduced independent lead director Orin C. Smith and the other members of the Board of Directors.

     

    “We’ve had four straight years of record results. Driven by extraordinary creativity, innovative technology and global expansion, 2014 was in fact the best year in our history. Our revenue was up 8 per cent to $48.8 billion, our net income was up 22 per cent to $7.5 billion, and our EPS was up 26 per cent to $4.26.

     

    “Total shareholder return for the year was 38 per cent — almost double the 20 per cent return delivered by the S&P 500 during the same period—and we also paid our 59th straight year of dividends, increasing the dividend per share by 34 per cent,” Iger noted.

     

    Iger introduced Walt Disney and Pixar Animation Studios chief creative officer John Lasseter, who announced that Disney will be making Frozen 2, reuniting the same creative team and cast from the first film. 

     

    Iger also announced that Star Wars: Episode VIII will be released 26 May, 2017, and that the first stand-alone Star Wars movie featuring characters and events beyond the core Star Wars saga will be titled Rogue One and released in December 2016.

     

    Based on preliminary results, all Disney Directors standing for election were re-elected to the Board: Susan E. Arnold, John S. Chen, Jack Dorsey, Robert A. Iger, Fred H. Langhammer, Aylwin B. Lewis, Monica C. Lozano, Robert W. Matschullat, Sheryl K. Sandberg and Orin C. Smith.

     

    Shareholders ratified the appointment of PricewaterhouseCoopers LLP as the company’s independent accountants for the fiscal year ending October 3, 2015. They also approved the advisory resolution on executive compensation.

     

    Final voting tallies from this year’s annual meeting are subject to certification by the company’s inspector of elections, and will be included in the company’s report to be filed with the Securities and Exchange Commission within a week.

  • Walt Disney appoints Thomas O. Staggs as COO

    Walt Disney appoints Thomas O. Staggs as COO

    MUMBAI: Thomas O. Staggs has been named chief operating officer (COO) of The Walt Disney Company.

     

    A 25-year Disney veteran, Staggs is chairman, Walt Disney Parks and Resorts, overseeing the strategy, operations and creative development of the company’s iconic travel and leisure businesses. He will assume the role of COO immediately, while continuing to lead Parks and Resorts until a successor is named. Disney’s senior management team, including all business segment leaders, will report jointly to The Walt Disney Company chairman and CEO Robert A. Iger and Staggs, with the exception of the chief financial officer, general counsel, chief communications officer and chief human resources officer, who will continue to report directly to Iger.

     

    “Tom is an incredibly experienced, talented and versatile executive who has led Parks and Resorts during a time of unprecedented growth and expansion, including the construction of Shanghai Disney Resort. His proven ability to lead a business as well as his successful tenure as Disney’s former CFO make him an ideal chief operating officer, expanding his portfolio into all the company’s businesses,” Iger said.

     

    “It’s a privilege to step into this role, and I am humbled and honoured by the opportunity. I look forward to working more closely with Bob and the talented senior management team across the company to continue to build Disney’s future through unparalleled creativity, innovative technology and global expansion,” Staggs said.

     

    Since 2010, Staggs has led Parks and Resorts’ global team with the segment delivering record revenue, profit and attendance levels. In addition to overseeing the development of Shanghai Disney Resort, and a new Avatar-themed land at Disney’s Animal Kingdom Park, during Tom’s tenure, Disney has launched two new cruise ships; opened Aulani, a Disney Resort & Spa, in Hawai‘i; added three new lands at Hong Kong Disneyland; doubled the size of Fantasyland at the Magic Kingdom; and completed a multi-year expansion of the Disneyland Resort with the addition of Cars Land and Buena Vista Street at Disney California Adventure Park.

     

    Prior to that, Staggs served as senior executive vice president and CFO of The Walt Disney Company. He played a critical role in the execution of the acquisitions of Capital Cities/ABC, Pixar Animation Studios and Marvel Entertainment. As CFO for 12 years, he spearheaded the realignment of Disney’s performance goals toward the combination of profit growth and strong long-term capital returns and free cash flow.He has been praised by Wall Street for his financial and communications skills, and was consistently voted the entertainment industry’s No. 1 CFO by Institutional Investor magazine.

     

    Staggs joined Disney in 1990 as manager of strategic planning and quickly advanced through a series of positions of increased responsibility, leading to his appointment as CFO in 1998. Before joining Disney, he worked in investment banking at Morgan Stanley & Co.

  • Consumer products segment leads Disney’s record profits for Q1-2015

    Consumer products segment leads Disney’s record profits for Q1-2015

    BENGALURU: The Walt Disney Company Inc (Disney) reported 17.4 per cent higher operating income (op inc) of $3545 million (27.7 per cent of all segment operating revenue or TIO) for Q1-2015 (quarter ended 27 December, 2014, current quarter) versus $3020 million (24.5 per cent of TIO) in quarter ended 28 December, 2013 – Q1-2014.Op Inc in Q1-2015 was 27.7 per cent more than the Op Inc reported for the immediate trailing quarter (Q4-2014, previous quarter, quarter ended 27 September, 2014) at $2775 million (22.4 per cent of TIO).

     

    Leading the growth with a 45.6 per cent y-o-y increase in Q1-2015 at $626 million from the $430 million was its Consumer Products segment (CP).CP’s Op Inc in Q1-2015 grew 65.2 per cent from the $379 million in Q4-2014.Though a couple of Disney’s segments reported drops in revenues, Op Inc of all of Disney’s other segments – Media Networks (MN), Parks & Resorts (P&R), Studio Entertainment (SE) and Interactive, also showed positive y-o-y and q-o-q growth.

     

    Disney’s TIO for Q1-2015 grew 8.8 per cent y-o-y to $13391 million from $12309 million and was 8.1 per cent higher q-o-q than the $12389 million in Q4-2015.

     

    “This was yet another incredibly strong quarter for our Company, with diluted EPS up 23 per cent driven by record revenue as well as significant growth in segment operating income, ” said Disney chairman and CEO Robert A Iger.”Our results once again reflect the strength of our brands and high quality content and demonstrate that our proven franchise strategy creates long-term value across all of our businesses”

     

    Disney Segment results

     

    Media Networks

     

    MN is Disney’s largest segment, both in terms of revenue and Op Inc.MN reported 2.7 per cent growth in Op Inc to $1495 million (41.2 per cent of all Op Inc) in the current quarter from the $1455 million (48.2 per cent of all Op Inc) in Q1-2014 and a growth of 4 per cent from $1437 million (51.8 per cent of all Op Inc) in Q4-2014.

     

    During Q1-2015, MN revenue grew 10.8 per cent to $5860 million (43.8 per cent of TIO) from $5290 million (43 per cent of TIO) in Q1-2014 and was 12.3 per cent more than the $5217 million (42.1 per cent of TIO) in the previous quarter.

     

    Two sub-segments contribute to MN – Cable Networks and Broadcasting

     

    Cable Networks

     

    Cable Networks reported 11 per cent growth in revenue in Q1-2015 to $4166 million from $3759 million in Q1-2014.Cable Network’s Op Inc fell two per cent to $1255 million from $1277 million in Q1-2014.

     

    Disney says that Operating income at Cable Networks decreased two per cent due to a decrease at ESPN, which was partially offset by increases at the worldwide Disney Channels and ABC Family.

     

    The decrease at ESPN was due to higher programming and production costs and, to a lesser extent, higher marketing, general and administrative and technical costs and lower advertising revenue.These decreases were partially offset by affiliate fee contractual rate increases, a reduction in revenue deferrals as a result of changes in contractual provisions related to annual programming commitments and an increase in subscribers, taking into account the new SEC Network.

     

    Programming and production cost increases were due to a contractual rate increase for NFL programming and rights costs for the SEC Network.ESPN advertising revenue decreased due to lower ratings for certain of our programs, partially offset by higher rates.

     

    The increase at the worldwide Disney Channels was due to higher affiliate rates for the domestic channels and higher international advertising revenues, partially offset by higher programming costs.

     

    International advertising revenues were driven by the company’s new channel in Germany, which was launched in January 2014.Increased programming costs were driven by higher pilot write-offs and costs for the new channel in Germany.The increase at ABC Family was due to higher affiliate revenue due to higher rates and increased advertising revenue reflecting higher units sold.

     

    Broadcasting

     

    Revenue from Broadcasting grew 11 per cent to $1694 million in Q1-2015 from $1531 million in Q1-2014.Op Inc for this sub-segment grew 35 per cent to $240 million from $178 million in Q1-2014.

     

    The company says that Operating income at Broadcasting increased due to an increase in affiliate fees and higher program sales.These increases were partially offset by lower advertising revenue.

     

    The increase in affiliate revenues was due to contractual rate increases and new contractual provisions.Program sales growth included higher sales of Criminal Minds, Scandal and Once Upon A Time.Lower advertising revenue was due to fewer units sold at the ABC Television Network, partially offset by an increase at the owned television stations due to higher political advertising and an increase from higher primetime rates.

     

    Parks & Resorts

     

    P&R revenue in the current quarter at $3910 million (29.2 per cent of all revenue) was 8.7 per cent more than the $3597 million (29.2 per cent of TIO) in Q1-2014 but was 1.3 per cent lower than the $3960 million (32 per cent of TIO) in the previous quarter.

     

    P&R reported 20 per cent growth in Op Inc to $805 million (22.7 per cent of all Op Inc) in Q1-2015 from $671 million (22.2 per cent of all Op Inc) and a growth of 17.2 per cent from the $687 million (24.8 per cent of all Op Inc) in the previous quarter.

     

    Disney says that Operating income growth for the quarter was driven by an increase at domestic operations, partially offset by a decrease at its international operations.

     

    Higher operating income at Disney’s domestic operations reflected both higher volumes and guest spending growth at its parks and resorts and, to a lesser extent, at its cruise business, partially offset by higher costs.Guest spending growth at Disney’s parks and resorts reflected higher average ticket prices and increased merchandise, food and beverage spending.The volume increase at its cruise business reflected higher passenger cruise ship days due to the impact of the Disney Magic being in dry-dock for a portion of the prior-year quarter.Increased costs were driven by labour and other cost inflation, higher pension and post-retirement medical costs and increased depreciation driven by new attractions.

     

    The decrease at Disney’s international operations was driven by higher Shanghai Disney Resort pre-opening expenses, the impact of a weaker Japanese yen on Tokyo Disney Resort royalties and higher costs at Hong Kong Disneyland Resort, partially offset by an increase at Disneyland Paris.The increase at Disneyland Paris was due to higher guest spending, attendance and occupied room nights, partially offset by higher costs driven by higher volumes, new guest offerings and marketing costs.The increase in guest spending was driven by higher average ticket prices.

     

    Studio Entertainment

     

    SE reported a 1.8 per cent drop in revenue to $1858 million (13.9 per cent of TIO) in the current quarter from $1893 million (15.4 per cent of TIO) reported for the year ago quarter and a 4.5 per cent growth from the $1178 million (14.4 per cent of TIO) in the previous quarter.

     

    SE Op Inc in Q1-2015 grew 30 per cent to $544 million (15.3 per cent of all Op Inc) in the current quarter from $409 million (13.5 per cent of all Op Inc) in Q1-2014 and more than doubled (up 2.14 times) from $254 million (9.2 per cent of all Op Inc) in the previous quarter.

     

    The company says that higher operating income was due to an increase in home entertainment results, higher revenue share with the Consumer Products segment due to the performance of Frozen merchandise and higher TV/SVOD distribution results driven by more titles available internationally.These increases were partially offset by lower theatrical distribution results.

     

    The increase in home entertainment results was driven by higher unit sales and lower per unit costs.

     

    Unit sales growth was driven by Marvel’s Guardians of the Galaxy, Frozen and Maleficent in the current quarter compared to Monsters University and The Lone Ranger in the prior-year quarter, which did not include the release of a Marvel title.The decrease in unit costs reflected distribution cost savings and lower production cost amortization reflecting a higher amortization rate on The Lone Ranger in the prior year quarter.

     

    Lower theatrical distribution results reflected the performance of Big Hero 6 in the current quarter compared to Frozen in the prior-year quarter.In addition, the current quarter included the continuing performance of Marvel’s Guardians of the Galaxy, which was released in the fourth quarter of fiscal 2014 whereas the prior-year quarter included the release of Marvel’s Thor: The Dark World.

     

    Consumer Products

     

    CP Op Inc has been mentioned above.CP revenue in Q1-2015 grew 22.5 per cent to $1379 million (10.3 per cent of TIO) from $1126 million (9.1 per cent of TIO) in Q1-2014 and was 28.6 per cent more than the $1072 million (8.7 per cent of TIO) in the immediate trailing quarter.

     

    Disney says that higher operating income was due to increases at its Merchandise Licensing and Retail businesses.The increase in operating income at Merchandise Licensing was due to the performance of merchandise based on Frozen and, to a lesser extent, Disney Channel properties, Mickey and Minnie, Spider-Man and Avengers.

     

    At Disney’s Retail business, higher operating income for the quarter was due to comparable store sales growth and higher online sales in all regions driven by sales of Frozen merchandise.

     

    Interactive

     

    Interactive is Disney’s smallest in terms of revenue and Op Inc.Interactive reported revenue of $384 million (3.1 per cent of TIO) in Q1-2015, $403 million (3.3 per cent of TIO) in Q1-2014 and $362 million (2.9 per cent of TIO) in Q4-2014.

     

    Op Inc for the Interactive segment grew to US 73 million in Q1-2015 versus the $55 million in Q1-2014 and $18 million in Q4-2014.

     

    The company says that improved operating results were due to an increase at its mobile games business driven by the success of Tsum Tsum and Frozen Free Fall as well as lower product development costs due to fewer titles in development.This increase was partially offset by lower results at our console games business reflecting higher per unit costs driven by the mix of Disney Infinity products sold, lower unit sales and higher marketing costs.The decrease in unit sales was driven by lower sales of Infinity accessories and catalogue titles, partially offset by higher sales of Infinity starter packs.

     

    Click here to read first quarter earnings for fiscal 2015

  • Mattel reports lower results for Q4-2015 and FY-2014; CEO Stockton takes the fall, quits

    Mattel reports lower results for Q4-2015 and FY-2014; CEO Stockton takes the fall, quits

    BENGALURU:  Mattel, Inc (Mattel) reported a 6 per cent drop in worldwide sales from Q4-2014 (quarter ended 31 December 2014, current quarter) to US$ 1994 million from US$ 2113.2 million in Q4-2014. Worldwide sales for FY-2014 (year ended 31 December 2014) fell 7.3 per cent to US$ 6023.8 million from US$ 6484.9 million in FY-2013.

     

    For the quarter, the company reported net income of US$ 149.9 million, or US$ 0.44 per share, which includes a negative impact of US$ 0.05 per share from MEGA Brands integration costs and a negative tax impact of US$ 0.03 per share, compared to last year’s fourth quarter net income of US$ 369.2 million, or US$ 1.07 per share. For the year, the Company reported net income of US$ 498.9 million, or US$ 1.45 per share, which includes a negative impact of US$ 0.16 per share from MEGA Brands acquisition and integration costs 3 and a tax benefit of US$ 0.13 per share, compared to last year’s net income of US$ 903.9 million, or US$ 2.58 per share, which included a tax benefit of US$0.09.

     

    Bryan Stockton resigned from his position as chairman and CEO, as well as from the board of directors of Mattel on 26 January 2015. The company announced Christopher Sinclair’s appointment as Mattel chairman and Interim CEO on the same day.

     

    “We are disappointed with our results but moving forward with a heightened sense of urgency to make the necessary changes to enhance our brand relevance and improve our execution,” said Sinclair. “Over the next few months, I will be focused on working with the management team to thoroughly evaluate the business in order to identify how we can improve our top-line performance and drive profitability. I am confident in our ability to revitalize our brands and our business and fully committed to delivering greater value for shareholders.”

     

    Sales by Brand

     

    Mattel Girls and Boys Brands

     

    For the fourth quarter, worldwide gross sales for Mattel Girls & Boys Brands were US$ 1.23 billion, down 9 percent versus the prior year. Worldwide gross sales for the Barbie brand were down 12 per cent. Worldwide gross sales for Other Girls brands were down 3 per cent. Worldwide gross sales for the Wheels category, which includes the Hot Wheels and Matchbox brands, were up 2 per cent. Worldwide gross sales for the Entertainment business, which includes Radica and Games, were down 21 per cent.

     

    For the year, worldwide gross sales for Mattel Girls & Boys Brands were US$ 3.90 billion, down 10 percent versus the prior year. Worldwide gross sales for the Barbie brand were down 16 per cent. Worldwide gross sales for Other Girls brands were down 2 per cent. Worldwide gross sales for the Wheels category, which includes the Hot Wheels and Matchbox brands, were up 1 percent. Worldwide gross sales for the Entertainment business, which includes Radica and Games, were down 20 per cent.

     

    Fisher-Price Brands

     

    Fourth quarter worldwide gross sales for Fisher-Price Brands, which includes the Fisher-Price Core, Fisher-Price Friends and Power Wheels  brands, were US$ 578.9 million, down 11 percent versus the prior year. For the year, worldwide gross sales for Fisher-Price Brands were US$ 1.84 billion, down 13 per cent versus the prior year.

     

    American Girl Brands

     

    Fourth quarter gross sales for American Girl Brands, which offers American Girl-branded products directly to consumers, were US$ 318.3 million, down 4 percent versus the prior year. For the year, gross sales for American Girl Brands were US$ 620.7 million, down 2 percent versus the prior year.

     

    Construction and Arts & Crafts Brands

     

    Construction and Arts & Crafts Brands

     

    Fourth quarter gross sales for Construction and Arts & Crafts Brands, which includes the MEGA BLOKS and RoseArt brands, were US$ 130.0 million. For the year, gross sales for Construction and Arts & Crafts Brands were US$ 315.0 million. Mattel acquired MEGA Brands Inc. on 30 April 2014.

  • Ronnie Screwvala enters online education space; to invest Rs 100 crore

    Ronnie Screwvala enters online education space; to invest Rs 100 crore

    MUMBAI: Bitten yet again by the entrepreneurial bug after selling UTV to The Walt Disney Company, Ronnie Screwvala has entered the education sector with the launch of UEducation, an online portal focusing on higher education.

     

    Screwvala has earmarked an outlay of Rs 100 crore in the first phase, which goes mainly into content, interactivity, platform, technology, assessments, adaptive learning, marketing and building a national footprint.

     

    “India has the largest college going age cohort in the world, yet only one out five of them enroll into higher education, resulting in one of the lowest higher education enrolment ratios, even among most developing nations. If we have to meet our GDP growth targets, we need to at least double the participation rate immediately, otherwise we will miss out on our demographic dividend,” he said.

     

    With a decade of experience in the education sector across India, China, Latin America, SE Asia, Middle East and Africa, Mayank Kumar has come on board as co-founder and MD of UEducation. “Our goal will be to foster the next level of degree education / learning and train the next generation Indian workforce to take on the industries of the future,” Kumar said.

     

    UEducation aims to capitalise on the fast increasing demand for digital learning and online education, leveraging technology and working to exceed the experiences and rigour even of on campus programs, whilst focusing on employability.

     

    The new venture will cover sectors such as management, law, marketing, finance, technology, engineering, entrepreneurship, new economy expertise, sports, media, fashion, travel, hospitality and tourism.

     

  • NBA to receive $ 24 billion over 9 years from Walt Disney, Time Warner

    NBA to receive $ 24 billion over 9 years from Walt Disney, Time Warner

    BENGALURU: The National Basketball Association, USA (NBA) is likely to receive $ 24 billion (about Rs 1,47,000 crore) from Time Warner’s TNT and Disney’s ESPN and APC Networks in a renewed contract over 9 years according to a Bloomberg report. The channels will carry NBA games through 2024-25, paying almost triple the amount for the contract that is set to expire in 2015-16. According to Bloomberg, the channels pay a combined USD 930 million (approximately Rs 5700 crore) a year to the NBA.

     

    According to an NBA press release, the agreements were announced on 6 October, by NBA Commissioner Adam Silver; Washington Wizards owner Ted Leonsis, chairman of the NBA’s Media Committee; Turner Broadcasting System President David Levy; and ESPN President and Disney Media Networks Co-Chairman John Skipper. The NBA’s current eight-year deals with ABC/ESPN and TNT expire at the end of the 2015-16 season.

     

    “The Walt Disney Company and Turner Broadcasting share responsibility for the growing popularity and interest the NBA enjoys, and we are thrilled to extend our partnerships,” said Silver. “With these new agreements, our fans will continue to benefit from the outstanding NBA coverage and programming provided by ABC, ESPN, TNT, NBA TV and their digital platforms.”

     

    “These nine-year extensions with Disney and Turner recognise the extraordinary value of live premium sports,” said Leonsis. “On behalf of our Media Committee and the other team owners, we thank Disney and Turner for their commitment to the NBA and its fans.”

     

    “This is a significant deal for our company and we are pleased to continue our long-standing partnership with the NBA, its fans, owners and players,” said Levy. “The agreement locks in some of the most valuable, original, premium live sports programming that we’ll continue to monetise across TNT and all other platforms within our extensive portfolio and will help further grow our businesses into the next decade.”

     

    “The NBA has never been more popular globally and it continues to grow under Adam’s leadership,” said Skipper. “By acquiring significantly more NBA content on both existing and yet-to-be created platforms, we will establish a vibrant year-round relationship with the NBA and bolster what is already the sports industry’s most impressive and impactful collection of media rights.”

     

    Under the agreements, the partners will televise more national regular-season games (ABC/ESPN: 100; Turner: 64) and will continue to do so generally on Wednesdays (ESPN), Thursdays (TNT), Fridays (ESPN), and Sundays (ABC/ESPN). By the end of these new agreements, the NBA’s partnership will reach 41 years with Turner, while the league’s relationship with ABC/ESPN will extend to 23 years. Additionally, NBA TV’s Sunday, Monday, Tuesday and Saturday game telecasts will continue to fill out the schedule, ensuring a full week of nationally televised games. The NBA’s 24-hour network will present over 100 regular-season games each year.

     

    The NBA release says further that the NBA and Turner will also continue their groundbreaking partnership to manage jointly the NBA’s digital assets including NBA TV, NBA.com, NBA Mobile, NBA LEAGUE PASS, and WNBA.com, which Turner operates out of its Atlanta production facility. TNT will also debut the first-ever NBA Awards Show, an annual event which will air at the end of the season, and will have expanded activation opportunities surrounding key NBA pillars such as Opening Night and NBA All-Star Week.

     

    Under the agreement, ESPN will be granted enhanced digital rights to provide NBA content for multiple ESPN platforms, including ESPN.com and WatchESPN.

     

    The parties have also established a framework for ESPN and the NBA to negotiate the launch of a new over-the-top offering in which the league would receive an equity interest. Details for the new offering will be announced at a future date.

     

    Under a new deal with the WNBA, games will continue to be televised on ABC and ESPN/ESPN2 through the 2025 season. ESPN also will have enhanced in-progress highlight rights for the WNBA on digital and linear platforms.

     

    Beginning with the 2016-17 season, for the first time, at least 20 NBA Development League games and NBA Summer League games will be seen on the ESPN television networks.

     

    Turner Sports will have enhanced content/digital rights to NBA content for multiple TNT platforms including Bleacher Report; interactive online elements such as selected camera angles, statistic feeds and video to complement TNT’s telecasts; and broadband and other content for digital platforms, including highlights and studio shows. This includes the opportunity to develop and distribute new NBA content and programming for Bleacher Report, as well as rights to highlights for incorporation into the brand’s popular team and topic-centric Team Stream Now video offerings.

  • Ynon Kreiz, maker studios CEO, to keynote at MIPCOM 2014

    Ynon Kreiz, maker studios CEO, to keynote at MIPCOM 2014

    MUMBAI: MIPCOM today announces that Ynon Kreiz, CEO of Maker Studios, a next-generation media and technology company and the world’s largest network of online video content for millennials, will deliver a keynote address as part of MIPCOM’s Media Mastermind Keynote Series. Kreiz will address delegates in Cannes on Monday, October 13.

    Organised by Reed MIDEM, the 30th anniversary of MIPCOM will take place in Cannes, France, from Monday, October 13 – Thursday, October 16.

    Kreiz joined Maker’s board as Chairman in May 2012 and was appointed Executive Chairman and CEO in May 2013. Under Kreiz’s leadership, the company was acquired by The Walt Disney Company in May 2014. During the keynote, Kreiz will discuss this year’s MIPCOM theme, The Global Quest for Original Content, he will address how Maker is packaging original shows featuring its biggest talent partners for cross-platform appeal.

     

    Attracting more than 8.5 billion views monthly with over 550 million loyal subscribers globally, Maker is the leading network of online video content for the coveted millennial demographic. Maker offers a massive content slate that spans 23 curated vertical genres and is home to both top digital and traditional stars along with the most-watched short-form content in the online video industry including the most-subscribed YouTuber in the world PewDiePie and the award-winning “Epic Rap Battles of History,” the most-viewed series on YouTube. With 55,000 creators in its network, Maker has enormous scale and reach. Launched in May, proprietary web platform Maker.tv offers viewers premium, curated content from Maker’s hyper-syndicated network.

    “With Ynon Kreiz at the helm, Maker is driving the short-form content revolution and becoming a major source of online video content for millennials,” said Laurine Garaude, TV Division Director, Reed MIDEM. “Ynon’s expertise in traditional entertainment coupled with online video is a perfect fit for this year’s MIPCOM theme, The Global Quest for Original Content.”

  • Abhishek Maheshwari to lead Disney consumer products in India

    Abhishek Maheshwari to lead Disney consumer products in India

    MUMBAI: The Walt Disney Company in India has announced the appointment of Abhishek Maheshwari as vice president and head Disney consumer products. Maheshwari will take charge from 10 July and replaces Roshini Bakshi who resigned from the company to pursue other interests.

     

    “Abhishek has been a key member of our management team since 2012.  Over this time, he has worked closely on the integration of Disney and UTV, on identifying local growth initiatives for the Company and on formulating our long-term strategy in India,” said The Walt Disney Company India managing director Siddharth Roy Kapur.

     

    “Abhishek brings to this role a deep understanding of our businesses along with a diverse set of leadership skills, and he is well placed to help us continue to grow our consumer products business in India,” he added.

     

    In addition to focusing his energies on leading Disney’s consumer products business, Maheshwari will continue to oversee corporate strategy and business development for the company in India.

     

    “Powered by the world’s biggest storytelling franchises, a rich slate of local content development and strong licensing partnerships, Disney has a wonderful opportunity to connect with audiences across the country in a deeper way than ever before,” said Maheshwari. “I am delighted to have this opportunity to help deliver Disney’s unique magic to Indian families.”

    Before joining Disney, Maheshwari worked in various management roles for Kubera and prior to that with McKinsey & Company at its Mumbai and Stamford, Connecticut offices. Abhishek received a Master of Business Administration (MBA) with distinction from Columbia Business School and a Bachelor of Science (BS) in Electrical Engineering from the Indian Institute of Technology, New Delhi.  

     

    “For nine years Roshini demonstrated the highest levels of commitment and dedication and leaves the business in a solid position for future growth,” said Roy Kapur. “We are extremely thankful for her contribution and wish her every success in the future.”