Aiming to monetise digital revenues across platforms, Subhash Chandra-promoted Zee Entertainment Enterprises Ltd (ZEEL) is transferring its OTT video service Ditto TV to a wholly owned subsidiary.
The board of ZEEL, at its meeting held yesterday, approved the transfer of the Ditto TV business to the subsidiary under a business transfer agreement on a net asset value (NAV) effective 1 June 2015.
The subsidiary, which will also handle all the digital properties (websites, apps, etc.) of the group, will be responsible for monetising digital revenues across platforms and geographies.
A ZEEL official said that Ditto TV has close to 15 million subscribers, out of which one million are paid subscribers.
He added that these include largely domestic subscribers, who pay around Rs 40 per month per subscriber.
Taking into account the current paid subscriber base and the monthly payout, Ditto will earn Rs 48 crore (Rs 480 million) a year. “We do not believe that we have to give away premium content for free,” he added.
Unlike Star India’s Hotstar, which has content only from its own company, Ditto TV is company-agnostic and delivers live TV, video on demand, music, news and more on multiple screens including mobile phones, tablet, desktops, laptops and other handheld devices. Ditto TV hosts 117 channels, according to its website.
These include channels from Viacom18, TV18, Multi Screen Media, ZEEL, Times Network, Taj TV, TV Today Network, BBC, Doordarshan, Sri Adhikari Brothers, ETV and Raj TV. The Star channels are not available on Ditto TV.
Launched in February 2012, Ditto TV is India’s first over-the-top (OTT) video distribution platform offering live TV and on demand content to end consumers on their mobile phones, tablets, laptops, desktops, entertainment boxes and connected TVs
Read more at:
http://www.televisionpost.com/television/zeel-to-transfer-ditto-tv-digital-properties-to-subsidiary/
The board of ZEEL, at its meeting held yesterday, approved the transfer of the Ditto TV business to the subsidiary under a business transfer agreement on a net asset value (NAV) effective 1 June 2015.
The subsidiary, which will also handle all the digital properties (websites, apps, etc.) of the group, will be responsible for monetising digital revenues across platforms and geographies.
A ZEEL official said that Ditto TV has close to 15 million subscribers, out of which one million are paid subscribers.
He added that these include largely domestic subscribers, who pay around Rs 40 per month per subscriber.
Taking into account the current paid subscriber base and the monthly payout, Ditto will earn Rs 48 crore (Rs 480 million) a year. “We do not believe that we have to give away premium content for free,” he added.
Unlike Star India’s Hotstar, which has content only from its own company, Ditto TV is company-agnostic and delivers live TV, video on demand, music, news and more on multiple screens including mobile phones, tablet, desktops, laptops and other handheld devices. Ditto TV hosts 117 channels, according to its website.
These include channels from Viacom18, TV18, Multi Screen Media, ZEEL, Times Network, Taj TV, TV Today Network, BBC, Doordarshan, Sri Adhikari Brothers, ETV and Raj TV. The Star channels are not available on Ditto TV.
Launched in February 2012, Ditto TV is India’s first over-the-top (OTT) video distribution platform offering live TV and on demand content to end consumers on their mobile phones, tablets, laptops, desktops, entertainment boxes and connected TVs
Read more at:
http://www.televisionpost.com/television/zeel-to-transfer-ditto-tv-digital-properties-to-subsidiary/
