Music and Youth
ETC hit by programming and personnel costs
MUMBAI: A spurt in programming and personnel costs has led to a fall in ETC’s net profit for the year 2004 -2005.
While a marginal increase of eight per cent in total income was recorded for the year 2004-2005, programming costs increased by 35 per cent from Rs 53.7 million last year to Rs 72.4 million this year. Personnel costs also rose by 37 per cent from Rs 36.4 million to Rs 50 million. Net profit, as a result, fell to Rs 72 million in 2004-2005 from Rs 158 million in 2003-2004.
Mega events like Baisakhi Blast, Punjabi Music Awards as well as collaborations for the mega release of the Bollywood flick Mughale-e-Azam led to the hike in programming costs, resulting in a seven per cent decrease in EBIDTA (earnings before interest, depreciation and tax).
Personnel costs went up in the backdrop of an exponential growth in the media and entertainment sector. Amortization cost was mainly on account of depreciation of fixed assets.
ETC also undertook a major initiative to increase visibility of its channels resulting in a higher outlay on distribution, outdoor, publicity, software amortization and other industry media.
Another factor contributing to the loss is tax provision. While for the 2003-2004, tax provision was based on MAT (minimum alternate tax), the unabsorbed losses resulted in a deferred tax asset while the absorption of the same resulted in the deferred tax liability in the current year.
Coming to working capital and financial management, the aggregate of the outstanding secured loans went down from Rs 37.8 million in 2003-2004 to Rs 16 million in the current year. Similarly, the operating cashflows were directed towards effective working capital management and meeting the capital expenditure.
The company also maintained the average age of 233 days of its debtors compared to 240 days in the previous year.
ETC is also taking conscious steps towards strict credit controls with enhanced focus on continuously monitoring receivables and collections.
Challenges posed in front of ETC for the year 2005-2006 is advertising revenue which is directly dependent on the new releases of films and music albums. Hence growth in ad sales will be linked to the development of Bollywood and the music industry. Another area of concern is the trend of relatively high credit periods extended by music channels. Add to that, a significant chunk of the company’s business comes from music companies.
MUMBAI: Mumbai is about to witness something it has never seen before. The Global Youth Festival arrives on 6-7 December at Jio World Garden with 15,000 attendees and 60-plus experiences sprawled across six sprawling arenas. On its sixth edition, this is no ordinary jamboree—it is a carefully orchestrated collision of wellness, adventure, arts, music, yoga and social change.
Chief Minister of Maharashtra Devendra Fadnavis will throw open the proceedings with a landmark ceremony, signalling the state’s backing for a movement that has already mobilised youth across 20-plus countries and 170-plus cities. The sheer scale is staggering: 500-plus volunteers powering the machine, 600,000-plus volunteer hours logged across previous editions, and millions of lives touched annually.
The speaker roster is formidable. Diipa Büller-Khosla and Dipali Goenka, chief executive of Welspun India, will share the stage with Malaika Arora in conversations spanning leadership, creativity and culture. Union Minister for Sports and Youth Affairs Mansukhbhai Mandaviya will also attend, reinforcing GYF’s reach into the corridors of power.
But this is not mere talk. The Solaris Mainstage promises concerts from renowned Indian artists. Innerverse delivers a 360-degree LED spectacle of art, technology and sound. The Love and Care Arena houses hands-on projects spanning women’s empowerment, child education, rural upliftment and animal welfare. India’s largest outdoor sound-healing experience awaits. An inflatable obstacle course, neon drifter karts and open-sky bouldering cater to thrill-seekers.
Some have branded GYF the “Coachella of Consciousness.” Others call it “India’s Largest Sober Festival.” Spiritual visionary Pujya Gurudevshri Rakeshji, who inspired the festival, will deliver the Wisdom Masterclass. Every rupee goes to charity.
After Mumbai comes Kolkata on 14 December. New York looms next year. For one weekend in December, Mumbai becomes the epicentre of youth-driven change—and nothing will be quite the same after.
Tickets available on BookMyShow. Visit youthfestival.srmd.org or follow @globalyouthfestival on Instagram.
