MAM
IBF, AAAI sign historic agreement
MUMBAI: The Indian media industry is finally coming of age and trying to adopt structures and procedures in line with international norms. For the first time, the two principal bodies representing TV Broadcasters and advertising agencies have inked an agreement that sets out the basis of the professional and commercial relationship between their respective member groups.
Ramesh Narayan, president Advertising Agencies Association Of India and Sony Entertainment Television CEO Kunal Dasgupta, treasurer Indian Broadcasting Foundation, exchanged the historic agreements they signed on Friday.
At a press conference in Mumbai to announce the deal, Narayan said: “The members of AAAI comprising nearly 80 per cent of the advertising agencies will get preferential treatment in terms of ad rates and credit payments. Besides there will be a committee set up for defaulting ad agencies.” Dasgupta chipped in: “There has been no standardisation till now. The idea is to weed out those agencies which are into sharp short-term practices.”
The agreement comes into effect from April 1. The arrangement is that both parties work under the principle of partnership, mutual interest and equity of law. All AAAI members and IBF members will get automatic benefits enshrined in the agreement. Within a certain credit period AAAI members will guarantee payments to channels. Advertisers who move business through AAAI members will get preferential treatment in terms of rate and credit.
Brands
JioHotstar EVP, head subscriptions (SVOD) and media Piyush Kothari exits
Streaming executive signs off after 6.5-year run across DisneyStar and JioStar
MUMBAI: Piyush Kothari, EVP and head subscriptions (SVOD) and media at JioHotstar, has stepped down from his role, bringing the curtain down on a 6.5-year stint spanning the DisneyStar and JioStar eras.
Kothari shared the update in a note reflecting on what he called a “transformative” phase for the media industry and a personal journey through the fast-evolving world of streaming and sports entertainment.
“The last few years have been transformative for the media industry and experiencing this journey up close over the past 6.5 years with DisneyStar and now JioStar has been a thriller,” he wrote, thanking colleagues and collaborators who shaped his time in the business.
Kothari joined JioHotstar in November 2024 as EVP, head subscriptions (svod) and media, where he oversaw subscription revenues and subscriber growth for the platform’s svod business.
Before that, he spent over five years at The Walt Disney Company in a series of leadership roles. His last position there was head of product, growth, partnerships and international expansion for Disney+ Hotstar, where he led efforts to scale subscription revenues across direct to consumer and partnership channels. The role also involved overseeing the service’s standalone businesses in markets such as Singapore, Canada and the UK.
Earlier, he served as lead, corporate office and strategic projects, working across the company’s entertainment, sports and streaming businesses. He also headed business operations at Mashal Sports, the entity behind the Pro Kabaddi League, where he helped steer the league through key commercial milestones including a five year broadcast and streaming media rights deal.
Alongside his operational roles, Kothari also served as nominee director on the board of Mashal Sports and was a director on the board of Novi Digital, the company that operates Hotstar.
Before entering the media and entertainment space, Kothari held senior roles across consulting, fintech and conglomerates. He worked with Welspun Group as head, group executive office, with Aditya Birla Group as joint president and business head, digital, analytics and strategy at Aditya Birla Idea Payments Bank, and earlier served as vice president in the chairman’s office at the group.
His career also includes stints at Accenture as principal, Accenture Strategy, and earlier at Shell in channel development and sales.
Reflecting on his time in the media sector, Kothari said he leaves with a lasting belief in India’s subscription economy. He also joked about picking up a new affection along the way.
“Carrying with me love for kabaddi, a deep belief in the potential of the subscriptions business in India, and fond memories and friendships,” he wrote, adding that he is now “onward to the next chapter”.
