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Tag: Sudhanshu Vats

  • He joined the jv in April 2011

    Viacom18 confirms Raj Nayak exit. To stay on till Feb 2019

    By A Correspondent [updated]

     

    Inarguably one of the most high profile names in the Indian television business, Raj Nayak has decided to move on from Viacom18. He has been Chief Operating Officer from May 2017 after having helmed Hindi General Entertainment Channel Colors as CEO since he joined the joint venture in April 2011. In September 2018, he was entrusted with the responsibility of revenues of the Viacom18 network.

    In an official statement released to the media on Tuesday evening, Viacom18 confirmed the departure of  Nayak. Speaking about the development, Sudhanshu Vats – Group CEO and MD Designate, Viacom18 said,: “Raj is one of the most admired leaders in the media and entertainment industry.  While on one hand, it is our loss to see a committed and capable leader leave, on the other, it is reassuring to know that he will always keep Viacom18’s flag flying high. On a personal level, I would like to thank Raj for partnering me as Viacom18 scaled newer heights. On behalf of everyone at Viacom18, I’d like to wish Raj all the very best for his future endeavours.”

    Speaking about his journey at Viacom18, Nayak said: “The last seven-and-a-half years at Viacom18 have been most exciting, challenging and rewarding. I have a wonderful team and they helped propel the company to new heights. The Viacom18 leadership has always been supportive and for that, I will always be grateful. These are exciting times for the media industry, the pace of change is remarkable, and I feel energised about the opportunity to do something new in this new landscape.”

    Nayak will be serving at Viacom18 till February, 2019.

    So where’s he moving to? An entrepreneurial venture yet again or another broadcast network. There have been rumours of his moving to helm Sony Pictures Network, a broadcaster that can do with a refresh in strategy. The top job at Discovery Network has also fallen vacant but the affair with running a Hindi GEC was shortlived. There is also a player like Netflix which is currently without an India head. A lot of this is based on what’s in the air, and we await a confirmation of his resignation from Viacom18 and some indicator of his next steps.

    Nayak – LS Nayak being his official name –  joined Viacom18 from Aidem Ventures, an entrepreneurial venture he set up as a media outsourcing and sales consuling firm. Earlier, he was CEO of NDTV Media for over seven year and before that he was Executive VP – Sales and Marketing at Star TV. At Star, where he worked for nearly a decade, he also did a stint at ESPN Star Sport from 1996 to ‘99.

    Nayak started his media career in print, having worked with stylish newspapers like Sunday Mail, The Indian Post and The Pioneer. Nayak has helmed various industry bodies and initiatives, the more recent being The Advertising Club where he helped raise the bar on the annual Goafest convention and awards.

  • The fourth Film Preservation & Restoration Workshop to Kolkata aims to advocate and build awareness on the importance of preserving cinematic heritage within the Bengali Film Fraternity

    Viacom18 & Film Heritage Foundation take workshop series to Cal

    By A Correspondent

     

    In line with the centenary celebration of the Bengali Film Industry, and with a purpose to encourage and give an impetus to film preservation and restoration, the fourth edition of Film Preservation & Restoration Workshop India (FPRWI) 2018 was inaugurated in Kolkata on Thursday. Supported by Viacom18, this initiative of Film Heritage Foundation (FHF) and International Federation of Film Archives (FIAF) is being held in association with the Kolkata International Film Festival. The workshop startedon November 15 and will continue till November 22.

     

    With this edition of the workshop, a programme to restore 100 Bengali films such as Tapan Sinha’s Kabuliwala, P.C. Barua’s Devdas and Ajoy Kar’s Saat Paake Bandha, amongst others will be initiated.

     

    Speaking at the occasion, Sudhanshu Vats, Group CEO and MD Designate, Viacom18, said: “At Viacom18 we believe in the power of synergies and the way our association has shaped up over the past three years is an apt example of harnessing the ability of the collective for the greater good. With collaboration of Government bodies, film fraternity, the international community of film restoration experts and cinema enthusiasts, we have been able to create an ecosystem that understands the importance of cinema as a cultural relic and is equipped to preserve and archive it, for future generations. With the past three editions of the workshop in Mumbai, Pune and Chennai, we are proud to now have created a pool of about 200 individuals who are aware and equipped to preserve films across India.”

     

    Added Shivendra Singh Dungarpur, Founder & Director, Film Heritage Foundation: “Film preservation is a highly specialized field that requires trained archivists. The goal of these annual intensive workshops has been to create awareness about the urgent need to save our film heritage as well as to create a resource of trained archivists who can take this forward. After the success of the first three editions, we are thankful to the Government of West Bengal for their support towards bringing FPRWI to the Kolkata and we are encouraged by their decision to make the preservation of their film heritage a priority.”

     

     

  • The event will be live-streamed on Voot

    Viacom18 and Nodwin bring digital gaming festival ‘DreamHack’ to Asia

    By A Correspondent

     

    E-sports pioneer Nodwin Gaming and Viacom18 have come together to bring leading gaming festival Dreamhack to India. The Dream Hack India event will take place from 21-23 December 2018, at NESCO, Mumbai.

     

    Sudhanshu Vats

    Speaking about the network’s endeavours into e-sports, Sudhanshu Vats, Group CEO and Managing Director Designate, Viacom18 said: “Viacom18 has never been one to shy away from experimenting with new concepts, ideas and formats. Given the strong affinity youth audiences have with our content, brands and experiences, we think this is the right time for us to dip our toes in the fast-paced, thrilling world of e-sports. The world is changing fast and lines are blurring between different content genres. Given the abundance of data that has been unleashed by Jio, it is only natural for the fandom around e-sports to grow by leaps and bounds in India. As the country’s youngest full-play media organisation, we want to stay ahead of the curve and tap into tomorrow’s big passion points today. Our association with DreamHack is a step in this direction.”

     

    Dream Hack is a digital festival where gamers and digital natives come together for a three-day weekend which features a 24-hour-a-day Local Area Network (LAN) party, e-sports gaming competitions; Bring Your Own Computer (BYOC). The festival will be jam-packed with players/gamers who will be invited for a gaming championship in pro e-sports tournaments, collegiate matches, world famous LAN party, cosplay championship, panels, activities, expos, music concert, art and more. Till date, DreamHack has organised multiple events in the North America and European regions.

     

    Akshat Rathee,

    On bringing Dream Hack to India, Akshat Rathee, Founder and CEO, Nodwin Gaming said: “Dream Hack has always been the epitome of the celebration of gaming and esports globally and we are delighted to partner with Dreamhack on their Indian journey. India with its dynamic youth and famed hospitality is a great beachhead into bringing the Dreamhack experience to Asia. NODWIN Gaming has been working hard on providing the best for our community of gamers across the country. This places the love for gaming right at the centre of our ecosystem. Partnering with Viacom18 brings the synergy full circle. Their reach to the youth of our country is unparalleled and we look forward to the convergence”

     

     

  • Workshop to be conducted in Kolkata from November 15 to 22, 2018

    Viacom18 partners with Film Heritage Foundation for Workshop

    By A Correspondent

     

    Celebrating a century of Bengali cinema, Viacom18 and Film Heritage Foundation (FHF) announces the fourth edition of the Film Preservation & Restoration Workshop India 2018 (FPRWI) in Kolkata. After partnering with the FHF for the past three years, supporting the workshop in Mumbai, Pune and Chennai, the objective of FPRWI 2018 is to create awareness on the urgent need to preserve the moving image heritage in the Bengali film industry thereby, making it accessible to global audiences.

     

    Speaking about the Film Preservation & Restoration Workshop, Sudhanshu Vats, Group CEO and Managing Director Designate, Viacom18 said: “India is a country of epic tales that weave through every aspect of our life. Our cinema has been one of the foremost tools of bringing these stories to form our nation’s collective consciousness, across regions and languages. For close to two and a half decades, starting circa 1950, Bengali cinema moulded this collective conscious as it saw a galaxy of talented directors, actors and musicians shape not only the region’s cinema but also setting the narrative for progressive Indian cinema. Personalities like Satyajit Ray, Ritwick Ghatak, Mrinal Sen, Uttam Kumar, Aparna Sen, Sharmila Tagore et al not only were revered throughout the world as film personalities but also shaped the discourse of socio-political culture both within and outside of India. Their works define our times and as such it is imperative that we preserve and restore them so that the generations to come appreciate our rich cultural heritage. It is this single philosophy that prompted us to partner Film Heritage Foundation through the last three years and after Maharashtra and Tamil Nadu, bring the Film Preservation & Restoration Workshop to the Bengali film industry.”

     

    The workshop will take place in Kolkata from November 15 – 22, 2018.

     

     

  • Among the various changes, COO Raj Nayak will oversee all revenue, Nina Elavia Jaipuria will be Head – Hindi and Kids TV Network. Manisha Sharma will be Chief Content Officer- Hindi Mass Entertainment and Ajit Andhare will take over the expanded role of COO – Viacom18 Studios

    Viacom18 rejigs top deck

    By A Correspondent

    Viacom18 has announced a rejig of its leadership team. It has consolidatee all revenue responsibilities under Raj Nayak, COO – Viacom18 and expanded Nina Elavia Jaipuria’s role as Head – Hindi and Kids TV Network. It has  appointed Manisha Sharma as Chief Content Officer- Hindi Mass Entertainment and Ajit Andhare will take over the expanded role of COO – Viacom18 Studios.

    In a first for the organisation, Viacom18 has unified all revenue across the network under Nayak.  Jaipuria’s mandate now includes channels across Kids and Hindi Mass Entertainment clusters. Meanwhile in her new role, Sharma will head content for the entire Hindi mass entertainment cluster including Colors and Rishtey. She and all other business heads will now report directly to Sudhanshu Vats, Group CEO and Managing Director Designate, Viacom18. Andhare will drive Viacom18 Motion Pictures’ forays into national and regional cinema and build Tipping Point as a brand for digital content production.

    As for others in the leadership team, Ravish Kumar as Head – Regional TV Network, will lead the network’s aggressive foray into regional broadcast entertainment across languages and genres. Ferzad Palia will continue leading the network’s efforts in strengthening Viacom18’s command on Youth, Music and English entertainment while creating content and experiences for Viacom18’s universe of the young. Saugato Bhowmik will continue to lead Integrated Network Solutions, building homegrown IPs in experiential entertainment and driving the licensing business under Viacom18 Consumer Products.

    Said Vats: “The first decade of Viacom18 marked the hyper-growth phase for us with ~50X growth in topline. In order to make Viacom18 future-ready and dial up growth across different lines of business, it is imperative to drive synergies, leverage scale and build content capabilities across screens. As we step into our next phase, it is important that we shape an organisational structure that allows us to retain the garage-nimbleness that got us here while enabling Viacom18’s independent business lines to leverage the synergies that consolidation brings. Integrating our revenues  and building content engines to cater to multiple screens across India, under the above leaders, is an important step towards a forward-looking organisation.” These organisational changes are being operationalised with immediate effect.

  • This is the network’s second regional launch in 2018, after COLORS Tamil

    Viacom18 reinforces Kannada dominance, to launch movie channel on Sep 24

    By A Correspondent

     

    Viacom18 announced the launch of its second movie channel – Colors Kannada Cinema. This is the network’s second offering in the movie broadcast space, after Rishtey Cineplex in 2016. The channel will launch on September 24, 2018.

     

    Speaking on the occasion, Sudhanshu Vats, Group CEO, Viacom18 said:“Colors Kannada Cinema is an important addition to our offering and a first in genre expansion in the Regional space. This demonstrates our strategic commitment to deepen and widen our presence as we drive Regional growth aggressively. This move would help us to increase our market share, both in terms of viewership and revenue, in the country’s third biggest regional market. Finally, as we look to leverage synergies across our brands, COLORS Kannada Cinema complements our portfolio play across our forays into filmed entertainment production and filmed entertainment broadcast.”

     

    Ã…dded Ravish Kumar, Head – Regional Entertainment, Viacom18:“At Viacom18, our strategy has always been to make significant inroads to achieve market leadership, especially with our regional portfolio. Movies contribute about 11% of the total television viewership in Karnataka and ColorsKannada Cinema is launching at the opportune time with the regional cinema industry witnessing an exponential growth in consumption, across screens. While we continue to strengthen our regional bouquet with strategic channel launches in multiple languages, we are also committed to expanding vertically to offer a more segmented and wholesome entertainment to our loyal viewers.”

     

    The launch also reinforces Viacom18’s foray in Karnataka, after the success of the GECs Colors Kannada and Colors Super.

     

    Speaking about the proposed channel, Parameshwar Gundkal, Business Head – Kannada Entertainment Cluster, Viacom18 said:“With a robust library of over 450 films, we have strategically curated our movie line-up to appeal to a wide range of audience. Going by the Brand philosophy – Mane Maneya Chitramandira (Har ghar ka theatre) the family entertainment movie channel will usher a fresh in-home cinematic experience for Kannadigas as it celebrates 84 years of the Sandalwood film industry with iconic classics, blockbusters, award-winning and latest films making it a premiere movie destination.The vast library catering to all, encompasses films across genres like romance, action, comedy, mythology, thriller, drama, etc. Backed with strong programming and promotion strategy, the channel will also air unique content around Kannada cinema like behind the scenes, film reviews, interviews and more, thus creating a stronger appeal for movie buffs.”

     

     

  • Rahul Joshi has been appointed as Managing Director of Network18 and TV18 and Sudhanshu Vats has been appointed as Managing Director of Viacom18. July 9, 2018

    Rahul Joshi & Sudhanshu Vats appointed MDs

    By A Correspondent

     

    Sudhanshu Vats

    The Board of Directors of Network18 Media & Investments Limited (Network18) has appointed Rahul Joshi as Managing Director of the Company for a term of three years with effect from July 9, 2018. Joshi has been associated with Network18 Group since September 2015 and is CEO – News & Group Editor in Chief. And The Board of Viacom18 Media Private Limited (Viacom18), the entertainment broadcasting arm of Network18, has decided to appoint Sudhanshu Vats as its Managing Director on receipt of necessary regulatory approvals. Vats has associated with Viacom18 from last six years and is the Group CEO of Viacom18.

     

    Said Adil Zainulbhai, Chairman of Network18 and TV18 on the appointments: “Both the appointees have tremendous skill and experience and will continue to drive our news and entertainment businesses towards leadership, as we continue to invest in these areas.”

     

     

  • Text of speech by Viacom18 Group CEO Sudhanshu Vats at the CII Global Exhibition on Services 2018

    How M&E can drive digital services exports: Sudhanshu Vats

    By Sudhanshu Vats

     

    Respected Hon’ble President of India, Shri Ram Nath Kovind ji, Hon’ble Minister for Commerce and Industry, Shri Suresh Prabhu ji, Hon’ble Chief Minister of Maharashtra, Shri Devendra Fadnavis ji, and members of the audience, it is always a pleasure to attend the GES. I have seen it grow from strength to strength each year – and am extremely happy to see it in aamchi Mumbai this year – the fourth edition that is.

     

    I have been asked to share my vision for our sector and its role in driving services exports in 2-3 minutes. As an industry, a large part of our revenues come from selling ‘airtime’ be it on TV, digital media or radio. Therefore, I understand the importance of every second and will endeavor to limit my address to the stipulated time frame.

     

    If we step back and take a larger view, India’s services exports were ~163Bn USD in fiscal 2017. This was about ~37% of total exports (i.e. including export of goods) – up from ~ 32% in fiscal 2012. If you ask me, aiming for 2x of this number by 2022, seems like a reasonable target to assume – say 320-330 Bn USD of services exports in 5 years. While its extremely difficult to put an exact number on our M&E related exports today – given how we are split up across different sub-sectors such as broadcast, films, digital, VFX, animation etc. I would peg this in the 1.7 Bn USD range – on the aggressive side. We are a 21 Bn USD industry – or thereabouts – meaning 8% of our industry is export revenue. I see this having the potential to go up at least 5x in 5 years – meaning 8.5 Bn USD of export revenue – attributable to M&E alone by 2022. Assuming we touch 35 Bn USD in revenue by 2022 i.e. if there no significant positive disruption, we are looking at exports driving almost a fourth or 25% of our revenue by 2022. This also means that on a total service export base of 163 Bn USD today, we are about 1% whereas by 2022 we would be almost 3% of total services exports.

     

    This was just about the numbers. Simple yet aggressive calculations that encapsulate our status as a fast-growing sunrise sector. I want to however highlight three critical nuances about our sector that explain why it can be the next poster-boy – after IT- of our growth in services export.

     

    Job potential: The first nuance is a personal favourite- I’ve shared it before and would like to reiterate it. As most of you are aware, job-creation is a key priority for the government today. A lot has also been accomplished and clearly the government is thinking about the future as well – the reference to Universal Basic Income in the Economic Survey document shows exactly this. India’s total workforce today is around 460Mn-480Mn with 10-15 Mn Indians being added each year to the workforce. As a sector we provide direct employment to 1.1-1.2 Mn Indians. If we add indirect employment and its induced benefits, we are looking at a number of 3.5-4Mn jobs by 2022. We’ll easily generate 1 million more direct jobs by 2022. That means almost 6-6.5 Mn opportunities for total employment by 2022. This number might seem small today but look at the quality of the jobs we will generate. Given their need for creativity, cognitive abilities and high EQ, these will be future-proof jobs. Automation, AI and the like can have only limited impact.

    5 years out, I see our sector being the feeder sector for high-quality, automation-proof jobs for other new economy sectors for the whole region – let along the country.

     

    Negligible marginal cost for exports: This is a nuanced nuance. In traditional theory or traditional industries for that matter, we tend to look at the incremental cost for exports – cost of product development/customization, packaging, logistics, maintaining overseas offices etc. Interestingly for our sector, the incremental cost of exporting is negligible in our case – including the opportunity cost. Let me explain. Today, I can take my movie to any corner of the world sitting here in Mumbai and using the reach of a digital platform. Ditto for a song or TV series for that matter. Yes, there are some costs- QC, subtitling, data bandwidth and so on – but nothing too substantial. Overnight, I can’t start making a drama that will be loved by say the citizens of Papua New Guinea – but I can make good dramas for Indian audiences – that might resonate in Papua New Guinea as well! This has an important corollary – while it holds true for other industries as well, it holds even more true for our sector where every almost output is a tradeable item – any domestic public policy aimed at making us competitive in India, will make us competitive across the world.  If you ask me, domestic policies are more critical to us than specific ‘export promotion’ measures. Market access for us is a lesser issue. Yes, some countries have quotas – but they also have VPNs that let their citizens enable OTT services (smiles).

     

    Soft power: The last nuance is a one that’s often referred to – I’m talking about our sector’s promise to contribute to our soft power. This has generally been done in the context of geo-politics. Let me throw in an economic dimension. You see, our output – content i.e. has a huge multiplier effect on other service industries such as tourism, travel, healthcare and so on. The more we show of India in our films, the more people want to visit. This multiplier effect must not be under-estimated in our case.

    With that ladies and gentlemen, I’d like to conclude my session – in hopefully less than 3 minutes. We have all that it takes to ensure that India takes her rightful place with the next industrial revolution – one that will make human capital, creativity and cognitive ability even more important. From 1% of our services exports today to about 3% by 2022 – and significant, disproportionate upside from the standpoint of India’s labour markets, social policy, economic growth and global standing – that is the promise we hold.

     

     

  • Although no replacement has been announced for Gandhi’s role thus far, according to the grapevine, the hunt is on to find a suitable person to head the division

    Gaurav Gandhi quits Voot, to head Amazon Prime Video

    By A Correspondent

     

    After 8 years of working with Viacom18 in various roles, Gaurav Gandhi, Chief Operating Officer, Viacom18 Digital Ventures, has decided to move on. Although no replacement has been announced for Gandhi’s role thus far, according to the grapevine, the hunt is on to find a suitable person to head the division.

     

    Commenting on the development, Sudhanshu Vats, Group CEO, Viacom18 said: “Gaurav has contributed significantly to Viacom18’s growth journey. He has led an extremely capable team to make VOOT a brand that is loved by its consumers. Gaurav has been a passionate and driven colleague whose counsel I have always valued. On behalf of all of us at Viacom18, I would like to thank Gaurav for his contribution and wish him the very best for his future endeavours.”

     

    Meanwhile, it is rumoured that Gandhi is all set to join as head of Amazon Prime Video.

     

     

  • Isha Foundation, Reliance Foundation, Vodafone-Ogilvy & Ola-Happy win big at presented

    Big night for green advertising

     

    The eighth edition of the Olive Crown Awards, the International Advertising Association (IAA) India Chapter’s awards for excellence in communicating sustainability was held in Mumbai on Tuesday, March 6. Isha Foundation, Reliance Foundation, Vodafone-Ogilvy & Ola-Happy McGarryBowen bagged the top awards.

     

    Said Ramesh Narayan, President – IAA India: “The response was heartening with more than 100 per cent increase in the number of entries being received. Entries have come from nine countries in total. The Olive Crown is truly a pan-Asian award now.”

     

     

    The Gold Corporate Social Crusader Award was presented to Reliance Foundation and the Silver to Vodafone. While accepting the award on behalf of foundation chair Nita Ambani, Kaushik Roy spoke of how Jamnagar in Gujarat, once with just 83 trees, today has 2500 acres of man-made green patch. They were proud of being the world’s largest mangrove and started at a time when the government hadn’t mandated CSR. Ogilvy & Mather bagged the prestigious Campaign of the Year for their Vodafone campaign. Shankar Mahadevan and children from his academy entertained the audience with a performance that had people asking for more.

     

    The Corporate Green Crusader award was presented to Isha Foundation for their Rally for Rivers initiative. Reading the citation, Megha Tata mentioned said: “The IAA is privileged to present Isha Foundation the Green Crusader Award for its unique and far-reaching initiatives for a sustainable environment and spreading the seeds for a greener future.”

     

    The highlight of the evening was a conversation of Jaggi Vasudev of the Isha Foundation, better known as Sadhguru, Viacom18 Group CEO Sudhanshu Vats. “This is Bharat – on small issues we may fight but we come together when there is a real problem,” he said on the Rally for Rivers project, adding: “When we get to a certain pace of activity in life, we have a fundamental responsibility to positively impact the life around us.”

    Olive Crown Winners- 2018

  • The 1% stake buy indicates a USD 2 bn valuation for the Reliance-owned TV18 and Viacom joint venture

    So what does the Reliance controlling stake mean for Viacom18?

     

    By A Correspondent

     

    It was sure to happen. Reliance Industries is a serious player and investor in the TMT ecosystem, and more importantly, anything that fuels its telecom business.

     

    When it first chose to invest in Network18 in 2012, it had indicated that the investments in media would eventually help in building the content pipeline. There were many reservations expressed when the Mukesh Ambani-run Reliance Industries took complete charge of the news business of Network18 (and Television18) in July 2014. The reservations then may have been with reason given the fear that big business-controlled news business will bring in its own commercial and political interests into play. However, as has been seen, all these were proved incorrect. Editorially, the news offerings are objective, and decidedly a lot more than some of the rightwing channels.

     

    A CNN-IBN may have opted out of getting a bigname news anchor, but that has actually worked in its favour. Rahul Joshi as CEO of the news business and group editor-in-chief has elevated the overall standards. And from what we learn, there is an overall delight with the big(g) bosses at Reliance Industries headquarters.

     

    In fact it’s the pace with which Reliance work could significantly help Viacom18 change gears, say industry observers.

     

    There is also delight over the Viacom18 valuation of USD 2 billion. This was determined by the one percent stake buy by the Reliance Industries-owned TV18 at the value of USD 20 million or around Rs 127 crore. The transaction is likely to be completed in a month.

     

    Until the announcement happened, both Viacom and TV18 had an equal 50 per cent equity in the joint venture. Viacom18 started out with three channels and it has grown into a 44-channel multiple platform business including films, merchandise and live entertainment.

     

    Meanwhile, the brand and content licence between Viacom and TV18 has been extended by another decade which will ensure the continuance of channels like MTV, Nickelodeon, Comedy Central etc in the fold. Viacom18 has reported total revenues of Rs 30,407 million in financial year 2016-17, charting a 40x-plus growth in topline since inception.

     

    This is what key captains of the Network18, Viacom and Viacom18 said in a communique:

    Adil Zainulbhai, Chairman – Network18: “The transaction further enables our vision for Viacom18 to accentuate its focus on excellence and integration in the broadcast and digital space. The entertainment powerhouse continues to be bolstered by Viacom’s global expertise in content creation and curation, along with Network18 group and affiliates’ strength across the media & telecom value-chain”

     

    David Lynn, CEO – Viacom International Media Networks: “Viacom 18 is one of the fastest growing companies in India’s dynamic media and technology sector and, as a result of this transaction, we believe it will be even better-positioned for accelerated growth through closer integration and alignment with the Network 18 Group and its affiliates, including India’s fastest growing mobile network, Jio. Viacom remains strongly committed to our Viacom 18 joint venture with the Network 18 Group and we are retaining the vast majority of our ownership stake in the company. We’re delighted to extend our licensing deal with Viacom 18 and see clear potential to expand it in live events and recreation, in line with our growing global presence in these lines of business.”

     

    Sudhanshu Vats, Group CEO – Viacom18: “We turned 10 last year and our growth journey has been exciting to say the least. None of this would have been possible without the support and commitment of both our partners. This development will allow us to leverage deeper synergies with Jio as we enter our next growth phase. As India’s youngest full-play media organization, we remain committed to winning the hearts of our audiences across all our on-air, on-line, in-store, in-theatre and on-ground businesses- and enriching the digital life of every Indian.”

    The key factor in the development is doubtlessly TV18 taking operational control of Viacom18. Given Reliance Jio and a significant interest in the growing the media and entertainment landscape, it is expected that there will be greater synergies. Also, given the larger interests of Relaince Industries in sports, an entry into sports broadcast is not totally ruled out. Beyond the current baby steps that the group is taking with the tri-nation Nidahas Trophy next month.

     

    What remains to be seen is how the plans for Voot play out, given that Jio has its own platform plus there’s Alt-Balaji.

     

     

  • Viacom and TV18 reaffirm commitment to grow the joint venture

    TV18 to increase stake to 51% in Viacom18, the JV with Viacom Inc

    By A Correspondent

    TV18 Broadcast and Viacom Inc, joint-venture partners in Viacom18 Media Private Limited, have  that TV18 shall take operational control of Viacom18. TV18 shall raise its stake to 51% by acquiring 1% of Viacom18’s equity from Viacom Inc. for a cash consideration of US$ 20mn. The brands and content licence agreement between Viacom Inc. and Viacom18 also gets extended by 10 years.

    The partners believe that in the fast-evolving Media & Entertainment landscape in India, TV18 can drive value-addition and synergies across the multi-platform group comprising broadcast, digital, filmed and experiential entertainment and media businesses. Viacom continues to hold 49% in Viacom18, and shares TV18’s vision for scalability and enhanced efficiency at Viacom18.

    Said Adil Zainulbhai, Chairman – Network18: “The transaction further enables our vision for Viacom18 to accentuate its focus on excellence and integration in the broadcast and digital space. The entertainment powerhouse continues to be bolstered by Viacom’s global expertise in content creation and curation, along with Network18 group and affiliates’ strength across the media & telecom value-chain”

    Added David Lynn, CEO – Viacom International Media Networks: “Viacom 18 is one of the fastest growing companies in India’s dynamic media and technology sector and, as a result of this transaction, we believe it will be even better-positioned for accelerated growth through closer integration and alignment with the Network 18 Group and its affiliates, including India’s fastest growing mobile network, Jio. Viacom remains strongly committed to our Viacom 18 joint venture with the Network 18 Group and we are retaining the vast majority of our ownership stake in the company. We’re delighted to extend our licencing deal with Viacom 18 and see clear potential to expand it in live events and recreation, in line with our growing global presence in these lines of business.”

    Said Sudhanshu Vats, Group CEO – Viacom18: “We turned 10 last year and our growth journey has been exciting to say the least. None of this would have been possible without the support and commitment of both our partners. This development will allow us to leverage deeper synergies with Jio as we enter our next growth phase. As India’s youngest full-play media organization, we remain committed to winning the hearts of our audiences across all our on-air, on-line, in-store, in-theatre and on-ground businesses- and enriching the digital life of every Indian.”

    What started out as a broadcast business with 3 channels – MTV, Nickelodeon and Vh1 – in 2007, Viacom18 today has 44 television channels across 80 countries in six different languages. It has also diversified into 5 lines of business, spawning broadcast, digital, films, merchandise and live events. Viacom18 has reported total revenues of Rs. 30407 million in last financial year 2016-17, charting a >40X growth in topline since inception.