iWorld
“We are targeting the 1.5 m Indians in mainland Europe” – bubbles Media CEO Arnold C. Kulbatzki
Launched in August 2016, the satellite-to-OTT platform TV services of bobbles.tv is aimed at expats of Asian, Latin American and African origins based in Europe. Supported by MX1, Bobbles can also be enjoyed via OTT for online viewing, via connected TV or mobile devices. bobbles.tv is a product of Hamburg-based privately held bubbles Media GmbH, a new pay TV provider specialising in TV offerings for international target groups.
With diverse experience in the media and telecom sectors spread over 20 years, Arnold C. Kulbatzki is the founding partner and CEO of bubbles Media GmbH. Prior to establishing bubbles media GmbH in January 2016, he was the CEO of a2b media (2004-2015), a management consulting firm with extensive expertise in customer experience management, digital transformation, paid content and OTT audio-video services. In an interaction with Indiantelevision.com, Kulbatzki spells out his company’s plans and explains why the services offered are unique. Excerpts from the interview:
Can you please tell us about Bobbles TV?
Bobbles delivers multiple packages of TV channels from around the globe. We aim to reach the 15 million people originating from Asia, Latin America and Africa, but currently living and working in Europe. The service can be received throughout Europe via satellite and online. Bobbles went live in August 2016 initially with programming offers for Chinese, Indonesian, Indian and Korean communities. Our most recent launch was our new package of India’s best and most popular TV channels.
Why did you launch a service for expats in Europe?
I’ve travelled a lot during my career and I’m familiar with the feeling of being abroad, but wanting to know what’s going on at home. Moreover, my personal circle of friends includes many expats who’ve chosen to relocate to Europe. They’ve come from India, Korea, China and elsewhere. One thing they have in common is their desire to retain links with home, even to watch their favourite TV channels from their native countries.
My Bobbles media partners and I imagined there must be a way to create a business built around delivering multiple packages of programming to the many people from all around the world who have chosen to call Europe home. When our research revealed there are over 15 million people originally from Asia, Latin America and Africa but living in Europe, we knew that these volumes meant such a service would truly delight a huge number of people. We also knew we had a great business opportunity.
Can you please tell us about your new Indian package?
We launched our bobbles.tv India package in early 2017 with 15 channels of entertainment in Hindi and English, including Bollywood blockbuster-packed B4U Movies, B4U Music, StarGOLD, Sony MAX and ZOOM. Viewers can also watch India’s most popular news services like NDTV 24×7, Times Now and Aaj Tak. Viacom18’s Colors, StarPlus, NDTV Good Times, NDTV Spice, Sony Entertainment Television (SET), Sony SAB, Life OK and Rishtey Europe show general entertainment, comedy, drama, lifestyle, reality TV and made-for-TV movies.
With 13 channels, Bobbles is Europe’s largest and lowest-priced satellite TV package. It‘s avaialble via ASTRA satellite for pan-European viewing. Additionally, 14 popular channels in Hindi and English can be received via OTT, available live and via seven-day catch-up with more channels on the way. No other broadcaster awywhere offers DTH and OTT services this way. Also, for many of our broadcaster patners, this is their first foray in Europe. So we know we are offering something truly unique to viewers.
What’s the pricing for the packages?
Subscribing is easy and affordable – this really sets us apart from competitors. It’s simply a flat monthly fee of €23.95 (1 USD= 0.90 Euro) on satellite and €12.95 online. What’s more, our viewers do not need a contract. With a potential audience of 1.5 million Indian expats living in mainland Europe, we are excited to deliver this pioneering and low-priced new service to this community.
How many subscribers are you aiming to attract in year one?
We haven’t set any specific subscriber or revenue targets. This is because we are launching the package of services in a roadmap of well-planned launches. It will take a certain amount of time. Only after a critical mass is reached for active and live services, we will be able to assess the overall figures for the business. Additionally, we don‘t critically need to set year-one targets, thanks to our operational efficiency and, in particular, the efficiency of our satellite-and-OTT distribution strategy.
Are you well-funded? Who’s investing in the venture?
We are privately-funded.
What is your revenue model? Will it be purely subscription-based or are you also looking at advertising revenue?
In addition to subscription revenue from consumers, there are additional monetisation opportunities going forward, including video-on-demand and B2B offerings for businesses for the worldwide hospitality sector, for example. As soon as our subscriber base reaches a critical mass, we can offer a great and a unique business opportunity for advertisers.
Gaming
Bluestone FY26 revenue rises to Rs 2,436 crore, turns profitable
Q4 profit at Rs 31 crore, full-year profit at Rs 13 crore vs loss last year.
MUMBAI: From sparkle to numbers, Bluestone seems to be polishing more than just jewellery this year. Bluestone Jewellery and Lifestyle Limited reported a sharp turnaround in FY26, with revenue from operations rising to Rs 2,436 crore (Rs 24,364 million), up from Rs 1,770 crore (Rs 17,700 million) in FY25. The company posted a full-year profit of Rs 13 crore (Rs 131.79 million), a significant recovery from a loss of Rs 222 crore (Rs 2,218 million) a year ago.
Total income for the year stood at Rs 2,486 crore (Rs 24,860 million), compared to Rs 1,830 crore (Rs 18,300 million) in the previous year, reflecting both topline growth and improved operational momentum.
The March quarter, however, told a more nuanced story. Revenue from operations came in at Rs 681 crore (Rs 6,814 million), down from Rs 748 crore (Rs 7,486 million) in the year-ago period, though higher than Rs 461 crore (Rs 4,613 million) in the preceding December quarter. Net profit for Q4 stood at Rs 31 crore (Rs 311.81 million), compared to Rs 68 crore (Rs 688 million) a year earlier, but a clear reversal from a loss of Rs 51 crore (Rs 512 million) in Q3.
Margins were shaped by higher input costs, with raw material consumption rising to Rs 2,204 crore (Rs 22,043 million) for the full year, alongside employee benefit expenses of Rs 282 crore (Rs 2,824 million) and finance costs of Rs 210 crore (Rs 2,104 million). Other expenses came in at Rs 371 crore (Rs 3,715 million), slightly lower than Rs 393 crore (Rs 3,938 million) in FY25.
On the balance sheet front, total assets expanded to Rs 4,961 crore (Rs 49,610 million) as of March 31, 2026, from Rs 3,532 crore (Rs 35,322 million) a year earlier, driven largely by a surge in inventories to Rs 2,672 crore (Rs 26,718 million). Equity also strengthened to Rs 1,803 crore (Rs 18,030 million), nearly doubling from Rs 911 crore (Rs 9,107 million).
Cash flows reflected the cost of growth. Net cash used in operating activities stood at Rs 199 crore (Rs 1,990 million), while investing activities saw an outflow of Rs 239 crore (Rs 2,392 million). Financing activities, however, generated Rs 497 crore (Rs 4,971 million), helping the company end the year with cash and cash equivalents of Rs 108 crore (Rs 1,075 million), up from Rs 49 crore (Rs 487 million).
Earnings per share for FY26 came in at Rs 1.10, a sharp improvement from a negative Rs 79.74 in FY25, underlining the shift from losses to profitability.
With revenue scaling up, costs still glittering on the higher side, and profitability finally back in the black, BlueStone’s FY26 performance suggests a business mid-transition less about shine alone, and more about sustaining it.
