Cable TV
Caracol, Funky Formats to showacse interactive telenovela at MIPTV
MUMBAI: Colombian broadcaster Caracol Television and Funky Formats have come put with an interactive telenovela Second Sin.
The format will air on Caracol later this year. The parties will offer the format to broadcasters at the television event MIPTV which takes place in Cannes next month.
Caracol VP content and production Cristina Palacio, says, “In Latin America, this concept represents an evolution in our long history of telenovelas. But in the US and other markets, there’s an added advantage, since broadcasters can introduce a brand new telenovela script to a mainstream audience through a construct which is already well-established: reality TV. Everyone already understands how that works, so it’s the perfect introduction.”
Funky Formats creative director Richard Martin says, “While there have been attempts at producing interactive dramas before, Second Sin is the first full-scale entertainment production of its kind. Without giving too much away, let’s say that the story line of Second Sin has something in common with Desperate Housewives, Lost and even Greek tragedy. It’s primetime entertainment—and in our view, American Idol meets Betty la fea.”
MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
