Javed Farooqui

Ferzad Palia, the Business Head of JioCinema, is stepping down from his position after a long tenure at Viacom18. Palia played a crucial role in JioCinema's growth, leading the platform to achieve 20 million paid subscribers and 250 million monthly active users. He will remain with the organization during a transition period to ensure a smooth handover.

WPP is expanding its presence in India. The company will grow its Chennai tech hub to 2,000-3,000 employees. WPP is also considering new campuses in Coimbatore, Bengaluru, and Kolkata. India is WPP's fifth-largest market, with a talent pool of over 11,000 professionals. The expansion aims to tap into India's skilled workforce and support WPP's global growth.

Star India reported a significant loss for the last financial year. The broadcaster attributed this to a provision made for a challenging contract related to ICC media rights. Star India had acquired these rights for a substantial sum but faced setbacks. Zee Entertainment backed out of a sub-licensing agreement, leading to arbitration.

JioStar, the newly merged entity of Star India and Viacom18, has unveiled its leadership team under the guidance of chairperson Nita Ambani and vice-chairperson Uday Shankar. The team, spearheaded by co-CEOs Kevin Vaz, Kiran Mani, and Sanjog Gupta, aims to drive innovation and growth across entertainment, digital, and sports sectors.

India's sports industry is projected to reach USD 130 billion by 2030, driven by government support, digital engagement, and a growing fan base.

Walt Disney reported a $1.5 billion impairment charge related to its Star India transaction, reflecting a fair value adjustment. The charge includes $800 million in cumulative foreign currency translation losses. Disney completed the merger of Star India with Reliance Industries' Viacom18, creating JioStar, on November 14.

Synopsis India's TV audience measurement body, BARC, experienced a 44% profit decline in 2023-24, despite stable revenue. The firm, reliant on broadcasters for 75% of its income, saw its subsidiary MDPL also face a profit drop. Despite this, CRISIL reaffirmed BARC's stable rating, citing its strong business model and high revenue visibility, but acknowledged potential impacts from regulatory changes.

This marks an impressive 33% increase from the previous fiscal years Rs 8,705 crore, according to regulatory filings by both companies. Experts attribute the surge in ad revenue for Amazon Seller Services and Flipkart Internet to increasing internet penetration and the growing trend of online shopping in India.

JioStar, the newly merged entity of Star India and Viacom18, has unveiled its leadership team under the guidance of chairperson Nita Ambani and vice-chairperson Uday Shankar. The team, spearheaded by co-CEOs Kevin Vaz, Kiran Mani, and Sanjog Gupta, aims to drive innovation and growth across entertainment, digital, and sports sectors.

Sony Pictures Networks India (SPNI) has secured the media rights for the Asian Cricket Council (ACC) tournaments from 2024 to 2031. The deal, valued at over 70% higher than the previous cycle, includes rights to major tournaments like the Asia Cup. SPNI outbid JioStar to win the rights, strengthening its cricket portfolio.