Cable TV

Zeel provisions for outstanding Siti Networks dues

ZEEL hopes that the cable TV network will also pay up old content payments.

KOLKATA: The outstandings of Siti Networks and Dish TV has been one of the major concerns for Zee Entertainment Enterprises Limited (Zeel). While the DTH platform Dish TV is making payments on the line of the revised plan for recovering dues, Siti Networks has failed to play old subscription overdues.

During the Q2 earnings call of ZeeL, MD & CEO Punit Goenka said that the company has collected the receivables related to revenues in the first half of FY 21 from the cable network. But it has failed to pay subscription overdue in accordance with payment plan agreed earlier due to various challenges including Covid2019, the pressure to prioritise lender’s payments, Goenka added.

As Siti Networks has made payment for all content delivered during April-September, this cash and carry model will be continued going forward. But as it has failed to pay old outstandings, ZeeL has taken a provision of Rs 81.2 crore towards subscription receivable which was overdue. Goenka emphasised that the company has not written off any debt and it would make all endeavours to recover the dues.

“Further on account of accelerated payment grievance by some of the lenders due to delay in restructuring by Siti Networks and their failure to negotiate extended repayment plans, the company has provided for extra liability of Rs 97 crore as of 30 September 2020. The provisions have been taken as a provisional  measure and company will take necessary efforts s to recover this due,” Goenka commented.

On the other hand, Dish TV has been able to cope up with the new payment plan as its financial position has improved. The DTH operator is paying its monthly billing along with clearing a part of its arrears. Currently, Dish TV’s outstanding stands at Rs 4. 98 bn compared to Rs 5.84 bn at end of FY 20. Moreover, Goenka stated the company expects that Dish TV will accelerate payments leading to reduced arrears.

Latest Reads
Den Networks posts strong profit in Q3’21

NEW DELHI: Den Networks has reported total revenue of Rs 342 crore for the quarter ended 31 December 2020, up eight per cent on a year-on-year basis. During the same quarter last year, it clocked Rs 318 crore in revenue. Net profit rose 238.69 per cent to Rs 65.57 crore, as against Rs 19.36 crore...

Cable TV Local Cable Operators
GTPL Hathway posts Rs 553 crore consolidated revenue for Q3

Cable TV and broadband service provider GTPL Hathway reported its net profit rose 36.81 per cent to Rs 45.23 crore in the quarter ended 31 December 2020, as against Rs 33.06 crore for the same quarter in December 2019.

Cable TV Local Cable Operators
What will it take to make Indian CAS acceptable to MSOs?

Despite the overwhelming importance of Conditional Access System (CAS) in the overall content distribution network, there have been few discussions on CAS.

Cable TV Multi System Operators
Indian broadcasting & cable TV market to surpass $19 billion by 2026, says report

2020 was packed with unforeseen highs and lows for the Indian broadcasting and cable TV sector. From record viewership, to plummeting ad revenues, to the NTO 2.0 wrangle, the industry is still in a rather precarious position.

Cable TV Multi System Operators
‘Foes to friends’: NXTDigital ramps up focus on collaboration & infra sharing

With the evolution of the media and entertainment industry, the boundary between friends and foes is fading away. The future is not about competition, but collaboration for long term sustainability, NXTDigital media group CEO Vynsley Fernandes believes.

Cable TV Multi System Operators
LCOs fire back at TRAI for 'conduits' remark before Bombay HC

Local Cable Operators (LCOs) appear to be agitated with industry regulator Telecom Regulatory Authority of India (TRAI) for portraying them as ‘conduits’ between the multi-system operators (MSOs) and subscribers.

Cable TV Local Cable Operators
NXTDigital posts strong Q2 results

NEW DELHI: NXTDigital has posted a year-on-year EBITDA growth of 15.8 per cent at Rs 50.7 crores for the second quarter, an improvement of 2.7 per cent over the previous quarter.

Cable TV Multi System Operators
Airtel has perfected the LCO model for home broadband, says Gopal Vittal

Bharti Airtel (Airtel) is going head-to-head with archrival Jio in the home broadband segment by putting pedal to the metal on its expansion plans. While the company has seen record subscriber addition in September, it will keep focusing on LCO partnership model.

Cable TV Local Cable Operators
NXTDigital launches new consumer connect program for Durga Puja

As the country gears up to welcome Goddess Durga, NXTDigital, the media arm of the Hinduja Group, has come up with a new consumer connect program – ‘ NXTDigital DURGOTSAV’.

Cable TV Multi System Operators

Sign up for our Newsletter

subscribe for latest stories

* indicates required