Guest ColumnRetrofit: Delhi losing patience with Commonwealth Games…

Delhi as a metro is not big on graffiti. But lately, one sees its scrawl and the legend inscribed is worrying – Pro rich, anti poor, CWG sucks. The Commonwealth Games are barely 190 days away, but work on the stadiums is yet to be completed. Plus the Capital is a dug out zone with construction material strewn around and burdened by an inflating Games budget. Sandeep Bamzai wonders why most of the media is silent on such an important issue.

e4m by Sandeep Bamzai
Published: Mar 31, 2010 8:39 AM  | 8 min read
Guest Column<br>Retrofit: Delhi losing patience with Commonwealth Games…

Delhi as a metro is not big on graffiti. But lately, one sees its scrawl on the newly designed bus stops. The legend inscribed is worrying – Pro rich, anti poor, CWG sucks. On Sunday evening, I was part of a panel on a Hindi channel, where the subject for discussion was the very sensitive and emotional Commonwealth Games and how the city’s hoi polloi has had to bear the cross due to it. Weighed under an unprecedented price spike, the Delhi budget has come as a double whammy after the Union Budget to crimp the very existence of the metro’s denizens. A modern survival kit is a must to negotiate the minefield that the city’s rising cost of living has unleashed. There are parts of Delhi which could be used as a location for ‘Lost’. A sharp increase in VAT, LPG and diesel prices is acting as a major deterrent. While the panel degenerated into a virulent political debate since Congress and BJP leaders were present, what was scary was the level of anger displayed by the audience. The live programme saw sparks fly as people’s ‘aakrosh’ grabbed centrestage. And guess what, the Sheila Dikshit Government is paying for the inefficiencies of the Suresh Kalmadi-led Commonwealth Games Organising Committee.

While all of us are being debilitated due to the time and cost overruns of the CWG organisers, Suresh Kalmadi remains unperturbed. A Commonwealth Games infrastructure summit being held under the aegis of The Times of India in the Capital saw the ‘teflon man’ Kalmadi as always paint a pretty picture. In his inimitable carefree style, on Monday, he sought to defend delays in completion of venues, saying preparation for such a mega event is always time consuming and the country cannot present “half-cooked meals” to the world.

“We are organising a major sporting event in the country after a gap of 28 years, after Asian Games in 1982. It’s a big challenge for us. You need to present a world class event when the whole world is watching. You need to showcase everything on a large scale. You cannot serve half-cooked meal,” Kalmadi said. Mr Kalmadi, Delhi bagged the right to host the Games in Montego Bay in November 2003, eight years ago. Right now, there is a mad scramble to complete the Games infrastructure. “We are not lagging behind. All venues are ready, barring JLN stadium and Yamuna Sports Complex. The work would be over by June 30. You need to understand when a city organises any international sports event, it takes five to 10 years to prepare itself,” Kalmadi added at the summit. Yeah, sounds good. But Delhi resembles a war zone with massive dislocation of the city’s ground zero status. Its innards lie open all around. There are cranes and excavators strewn all over the city’s face.

On Tuesday morning though, a more realistic assessment came from Associated Press, which said that the Commonwealth Games buildings were running behind schedule in India on Tuesday morning. The report, which I am reproducing here, provides an honest on the ground assessment, “A countdown clock outside the Commonwealth Games offices shows 192 days left until India hosts the 17-sport event. But the city still looks like a messy construction site. The main stadium is months overdue and remains a tangle of cranes, and residents are furious over new taxes to pay for the Games. Meanwhile, dozens of construction workers have died and hundreds of thousands are labouring in unsafe conditions in the rush to prepare the city for the Games, a court-appointed investigation said.

“India hoped that by hosting athletes from the 71 countries of the Commonwealth, the former British Empire, it would boost its global image and become a contender for the Olympics. Now, with the October 3 start date approaching, many are wondering whether it’s worth it. ‘For poor people there are no benefits from all this,’ said Ramesh Dubey, a sidewalk vendor angry over a proposed hike in cooking gas taxes. ‘This whole show is by rich people and will only benefit rich people.’ Suresh Kalmadi, head of India’s organising committee, has promised that problems will be resolved. “With the support of the Governments of India and Delhi, we are doing everything to produce a great Games,” he told visiting Commonwealth delegates this month.

“Numerous hurdles remain. The main Jawaharlal Nehru stadium, which is to host the opening and closing ceremonies and the main track events, is a giant shell. Dozens of labourers ferry cement and bricks in baskets on their heads. Cranes dot the sprawling complex, and the road around it is a dug-up mound of dirt. There are similar scenes at the Shyama Prasad Mukherjee swimming complex. Both complexes were supposed to have been finished by December. “Certainly it’s cutting it very, very fine with Jawaharlal Nehru stadium and the swimming stadium,” said Mike Hooper, the CEO of the Commonwealth Games Federation, who is in New Delhi helping oversee the preparations. The stadiums are now scheduled to be finished in June.

“If they don’t adhere to these new revised deadlines, then we do have real concerns about the operational delivery and the pressure it will put on the organising committee,” Hooper told The Associated Press. Many New Delhi roads are lined with mounds of rubble, often forcing several lanes of traffic into a single, chaotic one. New construction projects crop up every few weeks. An attempt to clean up Connaught Place, a collection of colonial-era buildings at the heart of the city’s business district, has choked shops in the area.

“A once-busy book store managed by Puneet Sharma is now mostly deserted, surrounded by scaffolding and rubble that has blocked access. “They have known about the Games since 2003 and yet we were given no notice about when work would start in our area,” Sharma said. “It’s all very unplanned and haphazard.” Indian organisers insist the construction and roadwork will be wrapped up by the end of June.

“There have been some delays,” accepts Rahul Bhatnagar, a senior official from India’s Sports Ministry, who is overseeing the preparations, “but the venues will all be done well in time for the test events and the main Games.” The cash-strapped government is pumping in more money to the nearly $3 billion event. The national government said it was lending the organisers an additional $150 million to pay for fixtures and equipment required at the venues. As the government scrambled to meet the new deadlines, allegations have cropped of negligence and abuse at the building sites.

“A panel appointed by the New Delhi High Court said that at least 43 workers were killed because of dangerous work sites and a lack of proper safety gear. The report said nearly 415,000 contract workers at construction sites related to the event were not paid adequately by private contractors and were forced to work overtime for no extra money. The government says it will monitor the construction agencies to ensure all labour laws are followed.”

I am surprised that Indian media, which is preoccupied with frivolous stories, seems untouched by what is happening in the Capital. As AP says, there isn’t much time left, the race to meet the deadlines is putting added pressure on the city’s creaking infrastructure requirements. The sheer apathy towards Commonwealth infrastructure and its status is shocking. Though I did see something on roads the other day in ToI. I guess somewhere Suresh Kalmadi’s famed networking skills are showing, he has media in his corner as they turn a blind eye to what is a colossal cock up. It is clear that we have no sense of time. Look at Sreedharan’s Metro, see the pace of work and the manner in which sites are restored after the work is completed. It is a lesson for one and all. And certainly for one Mr Kalmadi, who is a smooth talker, always glibly talking his way out of trouble. But most of all, I worry about the Jawahar Lal Nehru stadium, the showpiece of the Games. I wonder whether it will be handed over after October 3… 192, 191, 190 days and counting.

(Sandeep Bamzai is a well-known journalist, who started his career as a stringer with The Statesman in Kolkata in 1984. He has held senior editorial positions in some of the biggest media houses in three different cities - Kolkata, Mumbai and New Delhi. In late 2008, he joined three old friends to launch a start-up – Sportzpower Network – which combines his two passions of business and sport. Familiar with all four media – print, television, Internet and radio, Bamzai is the author of three different books on cricket and Kashmir.
The views expressed here are of the writer’s and not those of the editors and publisher of exchange4media.com.)

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HT Media posts Consolidated Total Revenue of Rs 580 crore in Q2

Chairperson and Editorial Director Shobhana Bhartia says due to lower commodity prices and control on costs there has been an improvement in operating profit

e4m by exchange4media Staff
Published: Nov 5, 2019 7:28 AM  | 1 min read
HT Media

HT Media has posted a Consolidated Total Revenue for Q2, 2020 at Rs 580 crore.

As per a statement released by the company, EBITDA for Q2’20 increased by 139%, and margins at 14% vis-à-vis 6% in previous year. This has been driven by softening of newsprint prices and continued focus on cost.

The Net Cash position at a consolidated level continues to be strong.

The Print ad revenue has declined due to sluggish volumes, even as yields have improved. National advertising continues to be soft, although local advertising witnessed growth.

Savings in raw material costs have driven improvement in EBITDA margins.

Chairperson and Editorial Director Shobhana Bhartia said, “Slowing economic growth has hit advertising spends in key categories, putting pressure on revenues across the media industry. As a result, our Print and Radio (on like to like basis) businesses saw revenues dip as compared to a year-ago. However, thanks to lower commodity prices and a tight control on costs, we saw an improvement in our operating profit. On the digital front, Shine, our online recruitment portal has shown good progress and continues to grow. Our outlook for the coming quarter remains cautious, given overall economic sentiment and macroeconomic trends. Cost-control and falling commodity prices should help protect our margins.”

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ABP Group posts Rs 15.70 crore as net profit in Q1 FY20

The group’s total operating income stands at Rs 365.55 crore

e4m by exchange4media Staff
Published: Nov 4, 2019 5:41 PM  | 1 min read
ABP

ABP Group has posted a net profit of Rs 15.70 crore in the first quarter of FY20, as per media reports.

The group’s total operating income stands at Rs 365.55 crore.

It’s net profit for the fiscal ended March 31, 2019, was down 68% to Rs 31.90 crore compared to the previous fiscal.

The Profit Before Interest Lease Depreciation and Tax (PBILDT) has also dropped 53.52% to Rs 107.12 crore.

The group has six news channels - ABP News (Hindi), ABP Ananda (Bengali) ABP Majha (Marathi) and ABP Asmita (Gujarati), ABP Sanjha (Punjabi) and ABP Ganga (Hindi).

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Zee Media posts consolidated revenue of Rs 137.03 crore for Q2 FY20

ZMCL has recorded 4.4% growth in operating revenue for first half of FY20

e4m by exchange4media Staff
Published: Oct 24, 2019 9:19 AM  | 1 min read
ZMCL

Zee Media Corporation Ltd (ZMCL) has posted a 4.4 per cent growth in operating revenue to Rs 337.6 crore in the first half of FY20, as per media reports.

It has reported a consolidated revenue of Rs 137.03 crore for Q2 FY20.

In a statement, ZMCL has said: “During the quarter, the network expanded its footprint s into Southern India through the launch of Zee Hindustan in Tamil and Telugu languages. This is intended to make the network's content accessible to wider audience.”

The operating expenditure in Q2FY20 has dropped by 21.7 per cent.

The statement further said: “EBITDA for HlFY20 improved by 34.1 per cent to Rs 1,029 million from Rs 767.5 million EBITDA for H1FY19, while the same declined by 9.4 per cent to Rs 370.2 million from Rs 408.7 million for the corresponding period last financial year. EBITDA Margin grew from 23.7 per cent in H1FY19 to 30.5 per cent in HlFY20, while growing from 24.2 per cent in Q2FY19 to 27 per cent in Q2FY20.”

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No slowdown here: In-cinema ad rates up by at least 50% for 3 big Diwali releases

Housefull 4, Made In China and Saand Ki Aankh ready to hit the silver screen this week, with the hopes of giving brands the eyeballs they look for in theatres

e4m by Moumita Bhattacharjee
Published: Oct 24, 2019 8:41 AM  | 4 min read
DiwaliFilms

It’s that time of the year again when theatres gear up to pocket maximum gains. Diwali is here and there are three films ready to hit the silver screen this week--Housefull 4, Made In China and Saand Ki Aankh. The festive period brings much joy to exhibitors, distributors and theatre owners because it ensures footfalls, giving brands the eyeballs they look for. In fact, industry experts don’t feel that economic slowdown this year has impacted in-cinema advertising. While they are concerned about three movies clashing during Diwali, they predict 50-100 per cent rise in ad rates during this period. 

Advertising moolah

Mohan Umrotkar, CEO, Carnival Cinemas, is expecting 60-70 per cent surge in advertisement topline compared to last year. “Going by the buzz and advance booking for these three releases, market is bullish. Advertisers have blocked most of the advt-slots during the festival period. Housefull 4, Made In China and Saand Ki Aankh all combined together should generate around Rs 350 crore topline at the box office during the festival week. We are expecting 60-70 per cent surge in the advertisement topline from last year. Also, this year we have added around 14 per cent new advertisers, and 4 per cent of them are first-time cinema advertisers,” he says.

But according to Siddharth Bhardwaj, Chief Marketing Officer - Head of Enterprise Sales, UFO Moviez, things have changed a lot in the last couple of years. “Since some films have not really lived up to their expectation, advertisers are spreading the spends all through the year. They are picking up far more number of titles in the year rather than focusing only on Diwali or Eid.”

“It is good for the industry because you can monetise the inventories beyond just big weeks. A lot of content- driven films have come up which has given us the opportunity to monetise more markets. It has put lesser pressure on Diwali. Most of the cinemas are sold out for Diwali. It becomes difficult to accommodate everything,” Bharadwaj opines. He also reveals that for this week, the inventories are already full.

Diwali ad rates

Experts reveal that ad rates differ from property to property and depends on location as well. But Diwali surely sees a massive hike in rates. This year, theatre owners are expecting 100 per cent rise in ad rates. While Umrotkar revealed that for Diwali, they are charging 100 per cent higher than the regular card rates, Girish Johar, trade analyst and film producer, shared that even the rates for putting up kiosks of brands go up during festivals like Diwali.

“It’s based on property. On a ballpark, ad rates double up. So if you are putting up a kiosk, they charge say Rs 50,000-25,000 for a month. During Diwali, they charge almost double because of the kind of footfalls theatres witness,” Johar revealed.

Economic slowdown? Not for Cinema!

This year, brands have been pulling back their spends on other mediums due to economic slowdown, but cinema seems unaffected. Calling entertainment business recession-proof, Johar explains, “If you see the other side, box office is up by 15-20 per cent. Yes, it is a bit subdued because the brands are in a wait-and- watch scenario. They are increasing their focus around consumption rather than awareness.”

Bharadwaj too seconded it by saying, “These are challenging times but our medium is very efficient. If you see economy has slowed down, but the cinema has grown instead.”

Clash cover

Three movies are clashing this Diwali which means shared screens and box office gains.

“It’s never good for us when two or more big-ticket films release together. If they would have come on different dates, there are chances that more advertisers will take advt. inventory in those weeks separately instead of that one particular week,” shares Umrotkar.

 

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INOX Leisure Ltd sees 42% growth in total revenue

Profit After Tax up 327% to Rs 51 crore

e4m by exchange4media Staff
Published: Oct 23, 2019 6:06 PM  | 1 min read
INOX

INOX Leisure Ltd (INOX) has reported financials for the second quarter ending September 2019.

Its total revenue has risen to Rs 524 crore with a 42% growth from Rs 369 crore in the corresponding quarter in FY19. Its EBITDA has more than doubled to Rs 107 crore with a 121% growth, while the PAT stood at an impressive Rs 51 crore, up 327% from previous year’s second quarter.

Siddharth Jain, Director, INOX Group, said: “At INOX, setting new benchmarks is now a routine, thanks to our consistently sharp focus on luxury, service and technology and our uncompromised desire to offer our patrons, nothing but the latest and the best! We are delighted with our remarkable consistency on all parameters, and we are sure about maintaining the momentum and focus on innovativeness. Content once again proved that why we term it as the ‘hero’. Thanks to the creators of such spellbinding movies, which keep inviting our guests to our properties, and allowing us to pamper them with our signature hospitality. With the launch of Megaplex, we are delighted to further our endeavor of developing experience-driven cinema destinations of global standards, and we will continue to do so. On behalf of Team INOX, I assure all our stakeholders that we will continue to break barriers and exceed all expectations.”

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Hathway Cable & Datacom reports 100% subscription collection efficiency in Q2

The broadband subscriber base has increased from the previous quarter’s 840,000 to 860,000

e4m by exchange4media Staff
Published: Oct 18, 2019 11:17 AM  | 1 min read
Hathway

Hathway Cable and Datacom has reported subscription collection efficiency at 100%, and the broadband subscriber base has increased from previous quarter’s 840,000 to 860,000 in quarter ending September, as per media reports.

It has narrowed its consolidated net loss by 74% and the operating EBITDA has been reported 15% up to Rs 107.5 crore compared to Rs 93.1 crore a quarter ago.

The total income has dropped 2%, while the expenditure is down 6%.

In the financial results, the company has said the FTTH markets are leading growth in customer acquisition.

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ZEEL posts 7.4% YoY growth in total revenue for Q2 FY20

ZEEL's domestic advertising revenue has grown 1.4% YoY in Q2FY20

e4m by exchange4media Staff
Published: Oct 18, 2019 7:51 AM  | 2 min read
ZEEL

Zee Entertainment Enterprises Limited (ZEEL) has reported a consolidated revenue of Rs 2,122 crore for the second quarter of FY20, recording a growth of 7.4% on YoY basis.

The Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) was recorded as Rs 692.9 crore with an EBITDA margin of 32.7%. PAT for the quarter was Rs 413.2 crore. The Profit After Tax (PAT) for the quarter was Rs 413.2 million, with a growth of 6.9% YoY.

During the second quarter, ZEEL’s consolidated advertising revenue grew by 1.2% YoY to Rs 1,224.7 crore. The domestic advertising revenues grew by 1.4% YoY to Rs 1169 crore.

ZEEL has posted 26.8% YoY growth in Q2FY20 domestic subscription revenue. ZEEL’s consolidated subscription revenue grew by 19.0% to Rs 723.5 crore during the quarter.

ZEEL’s total expenditure in Q2FY20 stood at Rs 1429.1 crore, higher by 9.9% YoY compared to Q2FY19.

While ZEE5 recorded a peak DAU (Daily Active User) base of 8.9 million in September 2019, ZEE5 users watched an average of 120 minutes of content on the platform in the same month.
During Q2 FY20, the television network had an all-India viewership share of 18.4%.

During the quarter, ZEEL’s international business revenue was Rs 208.2 crore. The advertising and subscription revenues for international business declined by 4.0% YoY and 21.5% YoY, respectively.

Zee Music Company has registered 7.1 billion views on YouTube in Q2.

Punit Goenka, Managing Director and CEO, ZEEL, said, “I am pleased with the performance we have exhibited during the quarter. Our entertainment portfolio continues to grow from strength to strength across all formats and maintained its leading position. Our television network has emerged stronger post the implementation of tariff order on the back of a strong customer connect and brand pull of its channels. ZEE5 continued to gain traction across audience segments and markets, driven by its compelling content library and expanding list of partnerships across the digital eco-system. This strong operating performance allowed us to deliver industry leading growth in both advertising and subscription despite the tough macro-economic environment. Domestic subscription growth of 27% has reaffirmed the value proposition our television network has built over the years. The impact of tariff order has now largely settled down and has brought increased transparency along with improved monetization. Our domestic advertising revenue growth, though significantly lower than historical trend, is higher than the industry growth. We have witnessed an improvement in ad spends through the quarter and we believe that the onset of festive season along with measures taken by the government will help revive the consumption growth.”

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