Wave II submerses advertising spends softly versus 2020 levels* Covid-Wave I defaced Q1FY21 ad revenues with decline of 61% YoY(ex- IPL)/79%/87% for TV/print/radio sectors, respectively. Nevertheless, we expect Q1FY22 tapering to diminish, versus FY20 base, at 25%/45%/35% decline, respectively, primarily on: 1) ongoing TV shoot...
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Long-term vision needed to promote India as STB manufacturing hub
Since the advent of Direct to Home services in India and the Digital Addressable Systems (DAS) in cable TV, set top boxes (STBs) have been imported and majority of the boxes are still being imported.
The Indian government has been trying to foster and encourage Indian companies to st...
Nazara Technologies Q4FY21 Result First Cut – Kiddopia drives overall growth and profitability
- Company has reported a revenue growth of 41.7% YoY to INR 1233.8mn, largely led by the gamified learning platform which surged 164.5% YoY to INR 506.1mn and e-sports segment which grew 22% YoY during the quarter
- Telco Subscription revenues(14.4% contribution) declined 1.4% YoY to INR 178.3mn, with an EBIT loss of INR 14.7...
TV Today Network Q4FY21 Result First Cut – Yet another resilient performance on a high base despite blackout of BARC viewership data
(Market Cap – INR 19 | Rating – BUY | Target Price – INR 350 ) View TVT has reported an in line quarter 4.4%YoY ad revenue growth despite 1) high revenue base last year and 2) blackout of BARC data for news genre; we maintain our view that incumbents like Aaj Tak will have no negative impact on ad. revenues due to the BARC...
Internet Sector – Zomato Pre IPO update- Unlisted – A connoisseur’s spread
Zomato – Table d'hôte Zomato is well positioned to take advantage of India’s food delivery market, growing way faster than other EMs. The company is planning to raise INR 82,500mn through an IPO to invest in its current business and initiate new delivery-focussed business streams (scaling to delivering any product). Concerns p...
Music Broadcast Q4FY21 Update – Wave II prolongs full recovery to beyond FY23
Mcap: INR 8bn | Sell | TP: INR 14, CMP: INR 24 | Downside: 42% §Q4FY21 revenues declined 7.4% YoY to Rs 425mn despite a low base, as traditional verticals were continuously under strain, losing to the digital amidst COVID. However, it grew 4.5% QoQ in Q4, contributing 11% YoY to overall volume growth. EBITDA stood at INR 29mn...