GECs
Star India valued at $11.3 billion: Morgan Stanley
MUMBAI: Media tycoon Rupert Murdoch has reason to cheer as 21st Century Fox’s India subsidiary – Star India has emerged as a strong contributor to the parent company.
As per a brokerage firm Morgan Stanley’s Year End ‘Fair Market Value’ report for financial year 2016, Star India has been valued at a whopping $11.3 billion, leaving behind its competitors.
The number makes a deeper impact on the parent company’s financial performance worldwide as ad revenue for the media giant from developed markets is slowing.
End of June financial reports saw Star India’s earnings from just entertainment business alone at about Rs 1,920 crore.
An earlier report titled ‘Grow Fox, Grow’ from the same investment firm recognised Star India’s growing profitability as one of the key drivers of healthy acceleration in financial year 2017 for 21st Century Fox. On the basis of their growing revenue, the report estimates Star India to contribute 11.3 per cent to the overall fair market value of the American parent. The report comes in the wake of a financial statement released by 21st Century Fox highlighting their overall performance and acknowledges the role played by Star Sports in giving Fox a commendable financial year.
In an earlier financial report released by the company, media mogul and 21st Century Fox executive chairman Rupert Murdoch highlighted the importance of their newly acquired sports rights. “The appeal of our new sports rights resonated with consumers globally, whether it was Star Sports in India setting new records with hundreds of millions of viewers for the ICC Cricket World Cup, or the more than 25 million viewers who watched the Women’s World Cup Final on FOX,” said Murdoch.
With Star India acquiring broadcast rights of Board of Control for Cricket in India’s (BCCI) domestic and international matches in India through 2018, the network has made a conscious effort to optimise their revenues through sports in India.
As per Morgan Stanley’s report, the other key factors that will dictate the Fox’s performance in FY17 include TV margin expansion, operating leverage from domestic affiliate revenue growth and growth at film productions, which was valued at $4.7 billion.
On the other hand, the risks to the growth over the next two years are advertising pressures, pay TV sub erosion against the strong pricing growth at Fox’s networks and capital allocation as forecasters feel that Fox is most likely to lead the industry in the dynamic landscape ahead.
GECs
Samsung TV Plus launches Kings of Comedy channel
New free FAST channel brings iconic Hindi comedy shows to millions of Samsung Smart TV owners.
MUMBAI: Samsung TV Plus has just turned up the laughter volume and it’s completely free. The leading free ad-supported streaming television (FAST) service in India has launched Kings of Comedy, a premium comedy channel featuring some of the country’s most beloved primetime shows. Available exclusively on Samsung TV Plus, the channel delivers back-to-back hits including Comedy Nights with Kapil, Khatra Khatra Khatra, and Comedy Nights Bachao, with no login or subscription required.
The launch marks a milestone for free streaming in India, offering audiences a dedicated comedy destination directly from their Samsung TV home screen. It arrives as Samsung TV Plus India celebrates its 5th anniversary, during which the service has grown its monthly active users by 42 per cent and more than doubled its total viewing hours. The platform now offers over 180 free channels across 14 languages.
Samsung TV Plus India general manager and head of business development Kunal Mehta said, “Comedy is the heartbeat of Hindi entertainment, and Kings of Comedy brings together the shows Indians already love, completely free on their Samsung TV. Our focus remains the same take the content people know and make it effortless to access.”
Globally, Samsung TV Plus has surpassed 100 million monthly active users across more than 4,500 channels, solidifying its position as one of the world’s leading free streaming services.
Kings of Comedy is now available on all compatible Samsung Smart TVs. For viewers seeking non-stop laughter without any cost, this new channel delivers a royal treat proving that sometimes the best entertainment really does come with no strings (or subscriptions) attached.
