iWorld
Scripted to scale Banijay boss Deepak Dhar backs India’s big format future
MUMBAI: He may have started as an “outside classroom student,” but today Deepak Dhar is scripting the biggest chapters of Asia’s content boom. At a fireside chat during the 9th Content Hub Summit 2025, the Group CEO of Banijay Asia and Endemol Shine India unpacked what it takes to run one of the most prolific content machines in the region and why India is finally poised to export formats, not just import them.
With a staggering 800 production days of Bigg Boss alone across languages like Hindi, Tamil, Telugu, Kannada, Malayalam, Bangla and Marathi, Dhar highlighted the scale and stamina needed to keep pace. “Even I don’t know how we manage to shoot 800 days in 365,” he quipped. “But that’s the opportunity India presents.”
From reality juggernauts like Bigg Boss, MasterChef, and Fear Factor, Dhar has now set his sights on fiction with shows like The Night Manager, The Good Wife, and Trial. His move from Endemol to launching Banijay Asia stemmed from a need to detox from the “reality king” tag and reinvent. “I wanted to unlearn and start again. What excites me is the fear of the unknown,” he said.
In Dhar’s view, the Indian content ecosystem has evolved dramatically from hyperlocal, broadcast-first formats to stories that now aim for global resonance. “Streaming has been the biggest shake-up in a good way. It’s democratised content and shrunk the world,” he said, citing the rise of global formats from countries like Israel, Korea, and Scandinavia. “Now it’s India’s turn.”
But why haven’t Indian formats gone global yet? Dhar believes the answer lies in legacy TV habits. “Twenty years ago, we weren’t designing shows for export. Now, with OTT, that’s changing. It’s the right time,” he asserted. His goal? To see an original Indian format go global. “We’ve imported so many shows successfully. Now we need one of ours out there and we’re working on it.”
Dhar also shared an anecdote that captures how dramatically content consumption has changed. “One Sunday, I asked my 15-year-old daughter to watch a movie. I picked up the TV remote, she picked up her laptop. That was the moment it hit me my business model was evolving in my own living room.”
Despite the shifts, Dhar is clear-eyed about the fundamentals. “None of us knows what will click. But what we can control is the process find the right story, the right people to shoot and edit it, and the right home for it.”
In a fragmented world of content, formats and platforms, Dhar’s formula is refreshingly simple: trust the team, stick to the process, and don’t overthink. The only real script for success, it seems, is being ready to rewrite it again and again.
Gaming
MTG gaming chief Benninghoff joins NODWIN board as esports firm primes for IPO
The Gurugram-based esports firm is pursuing a public listing, has returned to profitability and is growing revenues by 42 per cent
GURUGRAM: NODWIN Gaming is moving fast. The Gurugram-based gaming and esports company has launched a pre-IPO fundraising round, appointed UBS as lead adviser for both the round and a subsequent public listing, and landed a heavyweight board director, all in one go.
The new board member is Arnd Benninghoff, executive vice president of gaming at Stockholm-listed Modern Times Group (MTG), who has overseen the group’s strategic investments and portfolio growth since 2014. He is no stranger to building things: Benninghoff has founded and built fifteen companies, served as chief digital officer at ProSiebenSat.1 Media AG, managing director of SevenVentures, and chief executive of Holtzbrinck eLAB. He began his career as a journalist at Deutsche Presse Agentur and various TV networks, holds a Diplom-Kaufmann in business and administration from the University of Münster, and previously sat on the board of Edgeware AB.
The numbers back the ambition
NODWIN is not pitching a story without substance. The company has returned to EBITDA profitability and posted a 42 per cent year-on-year revenue surge, reaching $58.5m in the first nine months of FY2026. The pre-IPO round will combine a primary issuance to fund global expansion through organic growth and acquisitions, alongside a secondary sale to give existing shareholders some liquidity.
Akshat Rathee, co-founder and managing director of NODWIN Gaming, said Benninghoff understands “the entire lifecycle of the gaming and media ecosystem, from the boots-on-the-ground reality of building startups to the strategic complexity of managing multi-billion dollar global portfolios.”
Benninghoff, for his part, said the company “sits at the intersection of sports, entertainment, and technology, making it one of the most exciting players in the global gaming landscape today.”
A portfolio built for the global south
Founded in 2014 by Rathee and Gautam Virk, NODWIN has quietly assembled one of the more compelling esports portfolios outside the Western hemisphere. Its properties include DreamHack India and Comic Con India, and it recently acquired StarLadder, the Ukraine-based tournament organiser behind premier events in CS:GO and Dota 2. The company also serves as a long-term strategic marketing partner for the Evolution Championship Series (EVO), the world’s most prominent fighting game tournament, helping push it into new geographies.
Its geographic focus spans South Asia, Central Asia, Southeast Asia, the Middle East and Africa. Backers include Nazara Technologies, KRAFTON, Sony Group Corporation, JetSynthesys, and the founders’ investment vehicle Good Game Investments.
What comes next
With UBS running the books, a board freshly reinforced with European media and gaming expertise, and revenue heading in the right direction, NODWIN is laying the groundwork deliberately. The esports industry has burned investors before with big promises and thin margins. NODWIN’s return to profitability, combined with a real portfolio of owned intellectual properties across gaming, music and youth culture, gives it a more credible runway than most. The IPO clock is now ticking.
