iWorld
Sports fans power 35-40% of traffic on SonyLiv
MUMBAI: Contrary to popular opinion, SonyLiv is attracting a significant quantum of viewership courtesy its base of hardcore sports fans. Despite a concerted effort to provide entertainment across genres, sporting events have managed to pull in the eyeballs for the over-the-top (OTT) player in spite of the fickle nature of the audience.
At present, more than a third of SonyLiv’s traffic is garnered by its sporting properties. Sony Pictures Network EVP and head of digital business Uday Sodhi says, “35 to 40 per cent of our traffic is from hardcore sports followers. This shoots up during large sporting events and then the share gets bigger. Time spent varies from 25 minutes to 40 minutes for sports.”
Cricket is undoubtedly the first choice of Indians and that is reflective on SonyLiv, too. After cricket, football and WWE grab the attention of consumers the most. Big Bash League is one of the best T20 leagues outside India and it is getting more popular in India. Sodhi expects people to slowly warm up to this long-term property.
Going forward, the OTT platform will bet big on sports events. Talking about future plans, Sodhi says, “We run three sports television brands in India – Sony Six, Sony ESPN and Ten Sports. With these three brands, we have a strong sports network and we sport it in a big way on digital, therefore we are a large sports player on digital. The network is currently running India vs South Africa cricket series, Big Bash and from Monday will air Australian Open.”
The channel does a complete 360-degree coverage around sports that includes sports live, VOD, analysis and programming. “From our perspective, sports are a big part of SonyLiv and we will continue to get more and more rights for our users,” he adds. He also states that Sony’s digital platform is profitable.
On the entertainment front, SonyLiv released a short film ‘Ek Nayi Shuruaat’ in the new year. The platform is keen to syndicate short films from third parties. It is also giving the final touch to three Hindi web originals that will launch in February and March.
Sodhi expects more OTT players to join the fray in 2018 with focus on the regional market but he does not think consolidation will take place in the near future. Rather, the improvement in bandwidth will increase consumption on screen with increased adoption of Chromecast, Apple TV and regional media devices.
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iWorld
Bill Ackman’s Pershing Square makes $64 billion bid to acquire Universal Music Group
Ackman pitches NYSE relisting plan as UMG board weighs unsolicited offer
The hedge fund has proposed a business combination that values UMG at €30.40 per share, representing a hefty 78 per cent premium to its current trading price. The offer includes €9.4 billion in cash alongside stock in a newly formed entity, with shareholders set to receive €5.05 per share in cash and 0.77 shares in the new company for each UMG share they hold.
Under the proposal, UMG would merge with Pershing Square SPARC Holdings Ltd and re-emerge as a Nevada-based entity listed on the New York Stock Exchange. The move is designed to boost investor visibility and potentially secure inclusion in major indices such as the S&P 500.
Pershing Square Capital Management ceo Bill Ackman argued that while UMG’s operational performance remains strong, its market valuation has lagged due to external factors. “UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business,” Ackman said, pointing to concerns ranging from shareholder overhang to delayed US listing plans.
Ackman also flagged what he sees as untapped potential in UMG’s balance sheet and a lack of clear capital allocation strategy. He added that the market has not fully recognised the value of UMG’s €2.7 billion stake in Spotify, alongside gaps in investor communication.
The proposed transaction would also result in the cancellation of around 17 per cent of UMG’s outstanding shares, while maintaining its investment-grade balance sheet. Pershing Square has said it will fully backstop the equity financing, with debt commitments secured at signing. The deal is targeted for completion by the end of the year.
UMG, however, has struck a measured tone. The company confirmed that its board has received the non-binding proposal and will review it with advisers. It reiterated confidence in its current strategy and leadership under Lucian Grainge, signalling no immediate shift in stance.
The proposal comes at a time when global music companies are navigating evolving investor expectations, streaming economics and capital allocation pressures. For Pershing Square, the bet is clear: sharpen the financial story, relist in the US, and let the music play louder in the markets.
Whether UMG’s board is ready to change the tune remains to be seen, but the spotlight on its valuation just got a lot brighter.
