English Entertainment
AXN targets 30 per cent market share with new shows; sees demand from south India
MUMBAI: Continuing to establish its Live RED strategy from two ends, ie, product to channel and consumers gratification to characteristics is this English Entertainment channel.
Sony Pictures Networks’ (SPN) AXN a few months ago launched a new brand positioning with a new look and feel catering to the changing audience taste. With a more intelligent action offering, the channel witnessed better performance from the south of India than the overall market. With 40 per cent viewership share coming from Kerala followed by 36 per cent from Hyderabad, AXN India sees its traction coming from the upwardly mobile young people of 15-35 age group.
To build upon its familiarity and characters, it has initiated a mixed content proposition consisting of new shows and returning shows with new seasons. It is all geared up to air four new shows starting this weekend in their “Fresh From the US” slot. Two brand new shows that have been added to its library are – Bull and MacGyver whereas the other two are new seasons of cult shows – Supernatural and Elementary.
From taking various steps for its consumer behaviour association to what it stands for, the channel’s efforts at show and characterisation has worked well. It recently rolled out its HD feed, and has numerous advertisers on board from the automobile and ecommerce categories like Pepperfry, Amazon and eBay.
“Whenever we launch a new show under this slot, we make sure that the character, show premise and the grade of the show helps building our strategy. We want to cater to both influencers for whom it is about bringing new shows hot from the US and to the adapters community who are easing into the English entertainment space. They not only watch new shows but also see certain old shows right from the beginning. So when we bring fresh shows from the US, they are available throughout the year,” said SPN India executive VP and business head English Entertainment cluster Saurabh Yagnik.
The channel, which currently has a market share of 18-20 per cent,will continue to back its investments to fulfill its vision to get 30 per cent market share by the end of 2017.
It might also look at producing local content for the viewers though that will not be the core of their strategy. “International shows will be the core for AXN. The viewers come to us for that,” voiced Yagnik. ” If we get into local programming, what we need to be mindful of is the kind of properties we put in the channel today are on top of the line through the production quality. Whatever we do here, we have to deliver to their values and standards. It could be something going forward.”
The story of the young and quirky Angus MacGyver, with unconventional problem solving abilities & vast scientific knowledge will be highlighted in MacGyver every Saturday at 11 pm.
Whereas it’s other new show, Bull will air on Sundays at 11 pm. Brilliant, brash and charming Dr. Jason Bull is not just another psychologist but the ultimate puppet master. He Combines psychology, human intuition and high tech data to win in high-stake trials. The show revolves around the ubersuccessful psychologist and his impeccable style.
AXN is also raising its entertainment quotient on weekends with brand new seasons of iconic shows at 10 pm. The season 12 of Supernatural will be aired on Saturdays whereas detective Sherlock Holmes and Joan Watson in Elementary season 5, will be seen solving mysterious cases every Sunday.
“At AXN, our aim is to offer a wide range of shows across genres that provide mind rush, edge-of-the-seat entertainment and desirable characters. FFUS is one such property that gives all three. It also helps in building the English GEC category – Getting to watch new shows in good quality on their TV sets certainly discourages viewers from downloading content. It’s a win-win situation,” concluded Yagnik.
English Entertainment
Warner Bros. Discovery shareholders approve Paramount deal
Investors wave through a $111 billion megamerger but deliver a stinging, if toothless, rebuke over half-a-billion-dollar goodbye packages
NEW YORK: The shareholders said yes to the deal. They said no to the cheque. At a virtual special meeting on Thursday that lasted barely ten minutes, Warner Bros. Discovery investors voted overwhelmingly to approve Paramount Skydance’s $111 billion acquisition of the company — and then turned around and voted against the lavish exit pay packages lined up for chief executive David Zaslav and his fellow outgoing executives.
Not that it will make much difference. The compensation vote is purely advisory and non-binding. The Warner Bros. Discovery board can, and almost certainly will, pay out as planned.
But the symbolism stings. It is the second consecutive year that WBD shareholders have voted against the executive compensation packages, and this time they had good reason. Zaslav’s exit deal is, by any measure, extraordinary. Under the terms filed with the Securities and Exchange Commission, he is set to receive $34.2 million in cash severance, $517.2 million in equity in the combined company, and $44,195 in continued health coverage — a total of at least $550 million. On top of that, Warner Bros. Discovery has agreed to reimburse Zaslav up to $335 million for taxes assessed by the Internal Revenue Service on his accelerated stock vesting, though the company says that figure will decline depending on when the deal closes. As of March 11, Zaslav also held $115.85 million in vested WBD stock awards — and last month sold a further $114 million worth of WBD shares.
Shareholder advisory firm ISS recommended voting against the compensation measure, citing “problematic” tax reimbursements to Zaslav and the full vesting of his stock awards.
Zaslav will be bound by a two-year non-competition covenant and a two-year non-solicitation of customers and employees after the deal closes.
His lieutenants are not walking away empty-handed either. J.B. Perrette, chief executive and president of global streaming and games, is in line for $142 million, comprising $18.2 million in cash severance and $123.9 million in equity. Bruce Campbell, chief revenue and strategy officer, will receive an estimated $121.5 million, including $18.8 million in severance and $102.7 million in equity. Chief financial officer Gunnar Wiedenfels is set for $120 million, made up of $6.6 million in cash severance and $113.1 million in equity. Gerhard Zeiler, president of international, will get $82.6 million, including $11.9 million in severance and $70.7 million in equity.
The deal itself, clinched in February after Netflix declined to raise its bid for Warner Bros., still needs regulatory clearance from the Justice Department and European authorities. Several state attorneys general are also weighing legal action to block it.
Senator Elizabeth Warren, Democrat of Massachusetts, was unsparing. “The Paramount-Warner Bros. merger isn’t a done deal,” she said after the shareholder vote. “State attorneys general across the country are stepping up to stop this antitrust disaster. We need to keep up this fight.”
If it does go through, the combined entity would be a formidable beast, bringing together Paramount Skydance’s stable — CBS, CBS News, Paramount Pictures, Paramount+, BET, MTV and Nickelodeon — with WBD’s portfolio of HBO, Max, Warner Bros. film and TV studios, DC, CNN, TBS, TNT, HGTV and Discovery+. Paramount has said it expects $6 billion in cost savings from the merger, which is Wall Street shorthand for mass layoffs on a significant scale.
The ten-minute meeting was presided over by chairman Samuel Di Piazza Jr., with Zaslav, Campbell, Wiedenfels and chief communications officer Robert Gibbs in virtual attendance. Di Piazza was bullish. “We appreciate the support and confidence our stockholders have placed in us to unlock the full value of our world-class entertainment portfolio,” he said. “With Paramount, we look forward to creating an exceptional combined company that will expand consumer choice and benefit the global creative talent community.”
Zaslav echoed the sentiment. “Over the past four years, our teams have transformed Warner Bros. Discovery and returned the company to industry leadership,” he said. “Today’s stockholder approval is another key milestone toward completing this historic transaction that will deliver exceptional value to our stockholders.”
Paramount Skydance struck a similar note. “Shareholder approval marks another important milestone towards completing our acquisition of Warner Bros. Discovery,” it said in a statement, adding that it looked forward to “closing the transaction in the coming months.”
The shareholders have spoken on the merger. On the pay, they were ignored before the vote was even counted.
