2006-07 was as much a year of change and transformation as it was of achievement and innovation.
Re-engineering the business model:
The year was a landmark one as we successfully moved from being just a “production house” and “services” company to an integrated media company. We did this by building on our core strength – content creation – both in TV and in motion pictures. We also took our success in television broadcasting with Hungama TV to the next level by setting in motion a multi-channel bouquet of a unique mix. During the year, we launched our interactive initiative on the strength of our animation business by acquiring a controlling interest in gaming companies spanning console, mobile and online.
Top end of the value chain:
We are now at the top end of the value chain in each of our business verticals where our brands reach the consumer directly. This also brings an accrual to our revenues from the consumer everytime they subscribe to our channels, buy home videos, download games or purchase movie tickets.
Leadership position:
This year started on the note of attaining leadership. Now it is a matter of retaining it. In the Content business, our Motion Pictures division emerged as a clear leader with box office success, national and international awards and inroads into international cinema. In the Interactive business too, we swiftly moved into the leadership position with our strategic M&As.
Three verticals going to four:
We successfully unlocked value in the Motion Pictures business by listing it on the LSE-AIM exchange.
Our Interactive division is set to move to a different level as we consummate and synergise our acquisitions and focus on the highly talented teams we have inherited with these companies to present the world with the the highest level of creative products in the next two years.
In the Broadcasting space, we will follow our own benchmark to set a new course of growth for your company. Having done it once, we will replicate this success to offer a bouquet across multiple genres aimed at the youth of India and other target groups.
A special crack team has just been assembled to lead our agenda in the fourth vertical - the Internet, web and mobile space - that will make us a truly integrated media company. This is where we will leverage our content strengths and synergies in movies, music, TV business and youth segments.
India and global:
2006-07 is also the year where we have demonstrated that we can be a global player and at the same time remain strong in our domestic market. Our business interests internationally have grown exponentially with forays and partnerships in Hollywood, our subsidiary being listed on the LSE, acquisitions in the UK in Gaming and our successful partnership in Southeast Asia with our running the No. 1 kids channel there.
The big picture:
In an ever changing environment, what differentiates a successful media company are high levels of creativity and passion...the ability to think things different and transform ideas into entertainment. We nurture this at UTV. This reflects in our attitude, our work and our balance sheet. Your company creates compelling content and also controls the platforms on which it gets delivered. The power has now shifted to the consumer and so there could not be a better time than now for us at UTV to have re-invented our personality and our businesses completely.
Lastly, I am blessed with a fabulous team and colleagues who work with experience and commitment 24x7 as if this were their own company. To them, as to our customers, partners and you, I say “it’s been an honour”.
Ronnie Screwvala
August, 2007
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