Cable TV
Thailand’s largest pay-TV operator TrueVisions extends partnership with Synamedia
LONDON and SINGAPORE, 15 January 2019 – Synamedia, the largest independent video software provider, today announced it has extended its seven-year partnership with TrueVisions, Thailand’s leading pay-TV operator.
As part of the new multi-year contract, Synamedia VideoGuard will protect and secure TrueVisions’ investments in live sports, news, entertainment and other premium content delivered to its 3.9 million cable and satellite subscribers. The deal ensures that TrueVisions can deliver new premium, blended broadcast/IP services to customers without compromising on security. In 2019, TrueVisions will roll out an Android TV set-top box which will also be protected by VideoGuard.
Synamedia is the market leader in video security solutions with the industry’s longest and strongest track record safeguarding pay-TV operators’ revenues against pay-TV piracy. Drawing on its 30-year heritage, Synamedia’s continuing relationship with TrueVisions will involve working on new security solutions to fight piracy and protect revenue streams.
Dr. Jen, Procurement Director of True Group of Companies, said, “We have benefitted from VideoGuard’s industry-leading security since 2011 to secure our investments in premium content. By extending our partnership with Synamedia we are protecting our brand with the world’s leading set-top box security solution and safeguarding subsequent potential revenues as we look to enhance and enrich our subscribers’ viewing experiences with new blended broadcast/IP services.”
Sue Couto, Senior Vice President and General Manager, Asia Pacific for Synamedia, added, “Being the market-leader in Thailand, it is vital that TrueVisions’ video content and services are secured against all types of threats. Synamedia is committed to stamping out piracy and will continue to work closely with TrueVisions to maximise their current revenues while also developing new solutions and services that will delight their customers and open up additional revenue streams.”
MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
