21st Century Fox CEO James Murdoch has said that the company’s India unit is on track to meet its EBITDA target of $500 million by 2018 and $1 billion by 2020 notwithstanding the fact that the rights for the lucrative Indian Premier League (IPL) have come up for grabs.
For the new cycle of IPL rights after the 2017 edition, the TV telecast fee is expected to climb stratospheric heights. Star India is locked in a straight battle with Sony Pictures Networks India (SPNI) for the TV rights of the IPL.
Murdoch did not give a straight answer when queried by media analysts about the impact IPL rights would have on Star India’s growth targets.
Noting that the process of awarding IPL rights has been delayed, Murdoch said that the India sports business had grown in breadth with India cricket rights being complemented well by emerging local leagues like Pro Kabaddi and the Indian Super League.
“So first of all to say on the IPL, I think it’s well known that it’s very unclear when those rights will come to market. There has been a delay in that process,” Murdoch said.
The process of awarding rights has been delayed due to the standoff between the Lodha Committee and the Board of Control for Cricket in India (BCCI).
The Lodha Committee wants the BCCI to implement the reforms recommended by it before proceeding with the IPL rights. Murdoch further stated, “But I would say, look with respect to the Indian business. We obviously look at different rights packages as they come up.
We have really grown the breadth of that business in terms of sports with BCCI domestic cricket contract, as well as the growth of Kabaddi and the Indian Super League, so it is really a broad business there and new rights come up where we always will have a look at.” Star India is on course to meet its target.
“There is nothing at this point I can see in the outcome of those things that would deter it from the medium-term target that we have laid out for profit growth at Star, so we feel confident about that,” he said.
The BCCI has divided the IPL rights into three parts—Indian sub-continent TV rights, Indian sub-continent digital rights and international media rights.
Indian sub-continent TV rights and the international media rights are for a period of 10 years, while the Indian sub-continent digital rights are only for five years.
Murdoch also stated that Star India’s advertising revenues had returned to double-digit growth year-over-year on a constant currency basis.
Read more at: http://www.televisionpost.com/tvp-special/james-murdoch-sees-no-major-impact-on-stars-ebitda-target-despite-ipl-bid/ | TelevisionPost.com
For the new cycle of IPL rights after the 2017 edition, the TV telecast fee is expected to climb stratospheric heights. Star India is locked in a straight battle with Sony Pictures Networks India (SPNI) for the TV rights of the IPL.
Murdoch did not give a straight answer when queried by media analysts about the impact IPL rights would have on Star India’s growth targets.
Noting that the process of awarding IPL rights has been delayed, Murdoch said that the India sports business had grown in breadth with India cricket rights being complemented well by emerging local leagues like Pro Kabaddi and the Indian Super League.
“So first of all to say on the IPL, I think it’s well known that it’s very unclear when those rights will come to market. There has been a delay in that process,” Murdoch said.
The process of awarding rights has been delayed due to the standoff between the Lodha Committee and the Board of Control for Cricket in India (BCCI).
The Lodha Committee wants the BCCI to implement the reforms recommended by it before proceeding with the IPL rights. Murdoch further stated, “But I would say, look with respect to the Indian business. We obviously look at different rights packages as they come up.
We have really grown the breadth of that business in terms of sports with BCCI domestic cricket contract, as well as the growth of Kabaddi and the Indian Super League, so it is really a broad business there and new rights come up where we always will have a look at.” Star India is on course to meet its target.
“There is nothing at this point I can see in the outcome of those things that would deter it from the medium-term target that we have laid out for profit growth at Star, so we feel confident about that,” he said.
The BCCI has divided the IPL rights into three parts—Indian sub-continent TV rights, Indian sub-continent digital rights and international media rights.
Indian sub-continent TV rights and the international media rights are for a period of 10 years, while the Indian sub-continent digital rights are only for five years.
Murdoch also stated that Star India’s advertising revenues had returned to double-digit growth year-over-year on a constant currency basis.
Read more at: http://www.televisionpost.com/tvp-special/james-murdoch-sees-no-major-impact-on-stars-ebitda-target-despite-ipl-bid/ | TelevisionPost.com
.. Btw SPN channels charge more than star for subscription ..
luv
.. Apart from that in sports & movies Star has top no way to compare SPN 
win
hya
..
