Vivid: World media gives wide coverage to Modi

There is a consensus among world media that Modi is the kind of strong & decisive leader that India has been eagerly waiting for. However, some papers caution against over-optimism, notes exchange4media’s Annurag Batra

e4m by Annurag Batra
Published: Jun 2, 2014 8:28 AM  | 7 min read
Vivid: World media gives wide coverage to Modi

The world sat up and took notice as Bharatiya Janata Party’s Narendra Modi was sworn in as the 15th Prime Minister of India exactly a week ago. Modi’s stunning victory, announced on May 16, had been carried in all major newspapers across the world, even though it had drawn mixed reactions, with some hailing the results while a few others cautioning against high expectations from the new Government. However, as Modi took oath in a glittering ceremony and the presence of 4,000 people, including South Asian Association for Regional Cooperation (SAARC) leaders, the Modi wave got even mercurial.

Here is what the world media had to say at the time when the new leader set to take his seat in the largest democracy in the world.

United Kingdom’s The Guardian termed Modi a Hindu nationalist politician and said, his “resounding victory in the recent polls and the crushing majority now commanded by the BJP give Modi huge authority”, adding he is at work from the word go. “Modi has already signalled the pace with which he hopes to implement change, and his timetable over the coming days reflects the sense of urgency”.

Significantly, the swearing-in was widely reported in the United States papers. “Narendra Modi sworn in as Indian prime minister, heralding change,” said the headline of the prestigious Los Angeles Times. “Narendra Modi was sworn in Monday as India’s 15th prime minister, offering a new, more conservative government to a country thirsty for economic change,” it said. Taking note of the presence of the leaders of the SAARC, especially Pakistan Premier, the report said: “The ceremony at the presidential palace in New Delhi was notable for the presence of Pakistani Prime Minister Nawaz Sharif, who reportedly ignored warnings from his own intelligence agency to attend. Relations have been tense between the two nuclear-armed rivals.”

Tracing the humble and ideological lineage of Modi, The Wall Street Journal said: “Narendra Modi, the son of a tea seller with political roots in India’s Hindu nationalist movement, was sworn in as prime minister of the world’s largest democracy, putting in place a leaner central government and promising Indians “a glorious future”. Getting India’s economy growing at a faster clip will be a top priority for Mr Modi, who was propelled to power by voters who want better job opportunities, higher standards of living and a more efficient government,” it said. The Journal added, some analysts say, Modi is likely to make major decisions from the prime minister’s office. “That would mark a departure from former Prime Minister Manmohan Singh’s more hands-off governing style,” it said.

The Chicago Tribune said for the first time, India invited the heads of state of the entire, eight-nation SAARC to the ceremony, and all sent representatives. “However, it was the presence of Sharif, who was said to have made the trip despite the opposition of his country’s powerful Inter-Services Intelligence (ISI) agency, that turned heads,” it said.

Sharif’s presence was also noticed by The Washington Post. “Sharif’s attendance was seen as a gesture of goodwill between the rival nations. It was the largest such gathering in the space.”

“Modi, a lover of technology, had run the most costly, tech-savvy and ambitious political campaign in India’s history, travelling more than 180,000 miles and appearing at more than 5,000 events after he was officially named the party’s choice for prime minister in September,” the Post said.

“Credited for his pro-business approach as the chief of Gujarat,” broadcaster CNN added, “India’s new leader has also raised expectations that his government will succeed in turning around India’s slowing economy, generate more jobs and rein in soaring prices and deeply entrenched corruption, issues that are widely believed to have brought the fall of Singh’s government.”

Closer home, comparing Modi’s focus on development to China’s own experience with reform and economic growth in the 1970s that led to its industrial miracle, the editorial in the influential state-run China Daily newspaper said India could experience a similar trajectory. “A similar belief in and focus on development has brought China where it is today, and such a commitment to development can create an economic miracle next door in the world’s second most-populous country,” the China Daily editorial said. The editorial was carried under the headline “Congratulations to Modi” with sub-headline, saying: “Our best wishes to the people of India and their new, reform-minded prime minister”.

Not only the editorial, the newspaper’s lead story on page one was also on Modi, titled: “Modi to boost ties with China”.

Another editorial in the Chinese nationalistic newspaper Global Times said: “India’s economy is expected to embark on a road of reform and Modi will promote infrastructure development as he did when serving as chief minister of Gujarat for 12 years, which has become a strong aspiration of India’s mainstream society.”

On the other side, The Japan Times noted the sudden instability in the world and the new stress on nationalism, especially in countries like Russia and Japan itself. It wondered if India was going to follow the same route under Modi. “Nationalism, if directed at popular hate figures, usually works well, at least for a while. It may become newly elected Modi’s most obvious temptation. Can he, after a lifetime of encouraging nationalism as an activist, resist it as a national leader?” the editorial, titled ‘Will India’s Modi resist the lure of nationalism?’, said.

The Economist wrote the “Modi era has begun”. It opined that the rise of BJP signals an important shift in Indian politics. “The BJP did extraordinarily well because it approached the election in a far more professional, strategic and efficient way than its rivals. The methods it employed were modern, and the skill at which Mr Modi and his fellow leaders conducted their campaigns rivalled the sort of performances put in by American presidential contenders,” The Economist argued.

Israeli paper The Haaretz noted that in addition to all the other hopes “awakened by the landslide victory of India’s Narendra Modi”, “there is the prospect that he will emerge as the most pro-Israel premier in India’s history. It’s an advent of enormous potential consequence”. The paper opined that Modi’s win was a “chance to bring to full fruition the common interests of Israel and India and America. These have become ever more apparent in the wake of the collapse of the Soviet Communist empire and the outbreak of the Islamist war against Western democracies.” It went on to say that Israel could feature in “Modi’s plans for the future. Most of the $5 billion in annual trade between Israel and India has been confined to military technology and gemstones – except in Gujarat. But things could change.” International Business Times, another Israel newspaper, which in March called Modi “Israel’s Best Friend in South Asia,” reported that “under Modi’s leadership and encouragement, Israel has poured billions of dollars of investment into Gujarat”. And now, it was time to improve business relations with whole of India.

There emerged a consensus among the world papers that Modi is a strong and decisive leader, qualities India has been eagerly waiting for in its leader. Don’t be too optimistic, was the word of caution of others.

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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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