News Broadcasting
Star Group revenues up 20% at $ 408 million: report
NEW DELHI: The operating earnings of News Corp’s Asian subsidiary Star Group has exceeded $50 million for the full year (ending June 30, 2004) with advertising revenue growing by 21 per cent, driven primarily by Indian market leader Star Plus.
Hong Kong-based Media Partners Asia, a research and market analysis company, estimates that the operating income in FY 2004 should be in the region of $57 million versus $8 million in FY 2003.
Star Group’s revenues grew an estimated 20 per cent Y/Y to $408 million. Subscription remained robust, again led by India, although a rate freeze in the market (instituted in January 2004) looked likely to impact growth in the second half of 2004.
But, according to MPA estimates, Star still managed to increase subscriber declarations (to at least 13 million versus 10.8 million a year earlier) and squeeze more revenues from the fragmented cable TV distribution chain.
In its financial reportings, News Corp has indicated that in Q4 of FY 2004, operating income at Star grew 52 per cent on the back of 18 per cent Y/Y revenue growth.
“On a full-year basis, we estimate that Star derived more than $80 million in operating income from India although these earnings remain diluted by an estimated $10-15 million in operating losses from China (including start up general entertainment channel Xing Kong), which may break even over the next two years,” MPA has stated.
At present, Star is in the midst of expanding its programming bouquet with the launch of new channels (it launched free-to-air Utsav in June) in order to secure advertising from regional and national brands in India and generate more subscription, despite current rate restrictions.
Star plans to offer a new Hindi pay channel (tentatively called Star One) and ramp up its market share in South India by bolstering Vijay TV (now completely owned by Star) and potentially acquiring or launching another new channel.
Ownership of a distribution platform currently remains out of reach as Star’s $350 million JV with the Tatas (Star owns a 20% direct interest) to launch KU-band DTH services in India and potentially acquire up to 10 million subscribers over the long term, has been kept on hold as both parties wait for a license.
News Broadcasting
Rajesh Sundaram joins NDTV Profit as senior editor, assignment
The 32-year newsroom veteran has launched channels on three continents and covered everything from 9/11 to South African television
MUMBAI: NDTV Profit has bolstered its newsroom with a hire who has done rather more than most. Rajesh Sundaram, a journalist with over three decades of editorial, managerial and consultative experience across India and international markets, joins as senior editor, assignment, tasked with sharpening the network’s newsgathering and real-time response.
Sundaram’s career reads like a tour of Indian media’s most formative moments. He began at Businessworld in 1994, moved to Zee News as bureau chief across Mumbai and Chennai, then joined NDTV in 2002 as part of its political bureau during a particularly febrile period in Indian politics. A stint as India correspondent for Al Jazeera International followed, where he covered key geopolitical developments and got his first serious taste of the global newsroom.
What sets Sundaram apart, however, is his serial channel-launching habit. At NewsX, he helped get the operation off the ground. At Headlines Today, part of the India Today Group, he served as editor. At News Nation, he helped launch the Hindi news channel and its digital ecosystem. He then crossed continents to lead the launch of ANN7 in South Africa as editor-in-chief, overseeing both television and digital. Back in India, he launched Tamil news channels News7 Tamil and Cauvery News, and later served as principal consultant for the launch of Marathi channel Lokshahi. Most recently, he helped build and lead the Press Trust of India’s video service and content studio, before stints consulting for Business Today and The Himalayan Times.
Rahul Kanwal, chief executive and editor-in-chief of NDTV, left little doubt about what Sundaram is expected to deliver. “The assignment desk is where a newsroom’s intent becomes action,” he said. “Rajesh brings a rare combination of field experience and leadership in building news operations at scale.”
Sundaram has reported from across India and the world, covering elections, civil conflicts, the aftermath of the 9/11 attacks and the 2008 US presidential election.
At NDTV Profit, he will lead the assignment desk, driving editorial coordination and real-time response across markets and breaking developments. For a business news network sharpening its focus on speed and multi-platform delivery, it has hired a man who has built newsrooms from scratch on three continents. The assignment desk is in good hands.
