Hindi
TV syndication biz lifts Eros up in FY’09
MUMBAI: Eros International Plc had a bad theatrical year with its film releases but stayed pre-tax profitable for the full year ended 31 March 2009 as its television syndication business to Indian broadcasters grew 94 per cent to $64 million.
Profit before tax was up seven per cent to $48.4 million on a gross turnover of $156.7 million. The company said revenue was up 38.7 per cent from $113 million a year ago.
Theatrical revenue fell from $52.1 million to $46.3 million, despite the number of releases during the year increasing to 70 (from 52 releases in 2008). Eros released 24 films globally, including Tamil and other regional movies.
Eros saw growth in revenues from international television networks and aggregators for dubbed and original versions including German, Russian, Arabic and other languages dubbed or subtitled in 24 different languages.
Says Eros chairman and chief executive Kishore Lulla, “I am delighted that Eros International has delivered strong revenue and profit growth for the third successive year, building on our core competency of content and distribution. Against a backdrop of an uncertain macro economic environment and adverse currency movements caused by the significant depreciation of the Indian rupee to the US dollar, with over 60 per cent of the Group‘s turnover coming from India, the underlying business has produced a very robust performance. The company will continue build its content portfolio and distribution network while focusing on cash conversion, effective management of costs and reducing net debt.”
Revenues from new media grew by 69 per cent to $46.2million, driven largely by growth in video-on-demand deals with Comcast, Cablevision and other cable platforms, IPTV, mobile deals, DTH and internet platforms.
Aimed at giving digital revenues a big push, the company released 11 music titles in the year which were monetised through ringtones and other revenue streams.
Having already released two titles on Blu Ray format, Eros plans to release at least a further 50 titles on Blu Ray.
Eros said over 50 per cent of the Group‘s turnover came from catalogue exploitation and regional content distribution.
Eros expects cash flows to be healthy in FY‘10 as it has lined up a large slate of global releases like Kambakkth Ishq, Love Aaj Kal, Aladin, De Dhana Dhan and Veer. The production costs for the upcoming slate of movies are already substantially funded and the company aims to reduce its net debt over the next 12 months.
Hindi
New labour codes reshape rules for India’s media & entertainment sector
EY masterclass highlights unified framework, wage redefinition and expanded coverage.
MUMBAI: The new labour codes just rewrote the rulebook for India’s media and entertainment industry because when four old laws become four big codes, even the fine print needs a director’s cut. At the FICCI-EY Media & Entertainment Industry Report launch, EY partners Nirali Goradia and Lakshmi Ranganathan delivered a detailed masterclass on how the labour codes implemented in November 2025 are fundamentally changing the sector. The four consolidated codes Code on Wages, Code on Social Security, Industrial Relations Code, and Occupational Safety, Health and Working Conditions Code have replaced a fragmented set of central and state regulations that existed for decades.
The speakers explained that the new framework brings consistency across all types of establishments and workers. Previously, cine-workers, journalists and other media professionals were governed by separate, narrow laws. Now, definitions have been broadened: “audio-visual worker” now covers everyone involved in film, television, OTT, broadcasting and digital content creation, while “working journalist” extends to digital news platforms.
Key changes include:
- A uniform definition of wages, with at least 50% of total remuneration needing to qualify as wages for calculations like provident fund and gratuity.
- Expanded social security coverage for gig workers, platform workers and project-based freelancers.
- Unified working conditions, safety norms and leave entitlements.
- Simplified compliance through digital filings and a more principle-based approach.
Nirali Goradia emphasised that the codes aim to bring gig workers, freelancers and project-based talent under the social security net, though the exact contribution mechanism for platform workers is still being finalised. She noted that the intent is clear: no worker should be left out of basic protections such as provident fund, ESI, gratuity and safety standards simply because of the nature of their engagement.
Lakshmi Ranganathan highlighted that establishments in the sector must now carefully map their workforce—permanent employees, fixed-term contracts, freelancers and gig workers because different categories attract different obligations. She pointed out that gratuity vesting for journalists remains at three years, but the broader wage definition will impact calculations across the board. Organisations that previously computed contributions on basic salary (often 35-40%) will now need to move to at least 50% of total wages, potentially increasing costs by around 10% on a recurring basis. This change applies retrospectively for gratuity valuation as well, creating immediate balance-sheet implications for many companies.
The panel also discussed how the Occupational Safety, Health and Working Conditions Code has expanded the definition of “manufacturing process” to include digital printing and related activities. This brings more workers under safety and working-condition norms that were previously limited. Additionally, the codes introduce a clearer framework for fixed-term employment contracts, offering organisations flexibility while ensuring such workers receive benefits similar to permanent employees, including gratuity after one year.
One area still evolving is the treatment of platform and gig workers. The Social Security Code recognises this new category, but the exact funding mechanism and contribution structure are awaited. Industry experts expect a dedicated fund where platforms and employers will contribute, from which benefits can be extended to gig workers. Until the schemes are notified, organisations are advised to review their existing contractor and freelancer agreements to assess potential future obligations.
Both partners stressed the need for proactive steps. Companies should:
- Reclassify their workforce based on the new definitions of “employee” and “worker”.
- Review compensation structures to align with the 50 per cent wage threshold.
- Update contracts, especially for project-based and gig engagements.
- Reassess gratuity liabilities and payroll processes.
- Ensure compliance with expanded safety and working-condition requirements.
The speakers noted that while the codes bring much-needed unification and broader coverage, they also demand careful interpretation. The shift from highly prescriptive rules to a more principle-based regime means organisations must build internal frameworks to apply the codes consistently. This is particularly relevant for the media and entertainment sector, where project-based work, freelancers, short-term contracts and gig-style engagements are common.
In an industry that thrives on creativity and agility, the new labour codes are forcing a rewrite of the fine print. What was once a patchwork of rules is now a unified playbook and for media houses, the real plot twist will be how quickly they adapt to keep talent happy, costs manageable and stories flowing. The next few months, as states finalise their rules and schemes are notified, will be critical in determining exactly how this new framework reshapes hiring, compensation and workforce management across the sector.
