Company Presentation 15 th July 2010
Agenda 1. Q1 FY10-11 - Headlines 2. Each Business – Key Points (with Audio Visual) i. TV Content ii. New Media/ Interactive iii. UTV India Games iv. UTV True Games v. UTV Ignition vi. Broadcasting vii. Motion Pictures 3. What UTV knows & does best 4. Q2 Visibility 5. Full Year 6. Growth and 2011-12 7. Q & A Page 2
Q1 FY10 – 11 - Headlines Page 3
Q1 - Headlines YOY Change • Revenue : 89.8Cr to 208.2Cr (132% growth) • EBIT :(-34.7)Cr to 46.7Cr • PAT : (-31.75)Cr to 40.2Cr • After Minority : (-23.3)Cr to 41.2Cr (major consolidation of holdings) Revenue Break Up 6% 3% Motion Pictures TV Content Broadcasting 24% Games 55% 12% New Media Page 4
Q1 - Headlines EBITDA Contribution • Motion Pictures • Main contributor for Q1 • Syndication = 30% (with 95% margin) • Q1 Releases at 54% & Hollywood at 16% Note: Raajneeti SAT TV + Love Stories- not in Q1results • Broadcasting • EBITDA positive (before time) at Rs 3.76Cr • Games • UTV India Games – loss of Rs 1.50 Cr(started 2 new initiatives) • UTV True Games – loss of Rs 0.50 Cr (overheads pre launch) • UTV Ignition - Loss of Rs 1Cr (publishing expenses as release from Q2) • Non Cash “Translation” Forex loss – Rs 1 Cr Page 5
TV Content Page 6
TV Content • Moved into “High Growth” & “Leadership” mode – from “Steady” growth mode • Quasi Broadcaster on Sun Network, and: • Over 125 hours/month • 50% our own Productions – (Major shift) • No1 show on Sun TV and Surya TV • TV shows on GECs include: a) Daily on Imagine – Prime Time – starts this month b) Daily on Star Plus – Prime Time starts September c) 2 Marathi dailies on Air d) 3 shows on Bindass including EA -2 - starts – Aug/Sept e) Meti-oli - hit show in Hindi daily f) Boogie-Woogie on Air on Sony g) 3 dailies & 2 Bi- weeklies on Air on Sun Network & More from Oct ’10 onwards. Page 7
TV Content (contd.) • With all above locked – we see clear visibility on our financial growth figures • Rs 160 Cr in FY10-11 from Rs 100 Cr achieved during FY09-10 (YoY 60% growth) • We aim to reach leadership position in 18 months • Based on No of Shows on air, we will be the leader by Q3 Page 8
New Media Page 9
New Media / Interactive • A scalable “Business” focus – no longer just synergy for Group Verticals • Innovative offering – UTV Audio Cinema, already with 1.5million subscribers & consumer spending at Rs3.5 Cr/month • Expanding “Audio” to 3 other equally large segments • “ Celebrity ” – exclusive with UTV on Mobile & Web – Dominant player from day one. • Pioneer of “ Made for Mobile ” Content – exclusive partnerships with Telcos (first announcement coming up in August) • Best prepared for 3G (a) Audio (b) Celebrity (c) “Made for Mobile” products • First Web/Digital scalable play in India – EBITDA positive in first year • Goal : • Top 2/3 mobile content players(if not no.1 with India Games) • Top 10 web plays in India – with Celeb, Techtree and other planned innovations Page 10
Games – Page 11
Games : • Market leader in Mobile Games in India • Expanded in Games onto: • DTH • Online • iPad / iPhone ++ • Headlines of key recent achievements : • DTH launch on Reliance Big – exclusive Games channel • 2 more DTH announcements soon • Bruce Lee – Top10 Game on iPad / iPhone – across USA/UK/Japan/EU • Online – Games on Demand crosses 50K subs @ Rs.150-200/month • Largest Producer of “Bollywood” Games • Winner of the 2010 IDC Enterprise Innovation Award • Rs 50 Crores in Revenue & EBITDA profitable in FY10-11 Page 12
Page 13
Games - • Online Games – MMOG – Multiplayer Revenue Model • Revenue Model a) Pay as you play – in USA b) Syndicated Revenues – worldwide c) Migrate to other formats / platforms • 3 Games launch in FY10-11 • Mytheon (Q2) • Heaven & Hell (Q4) • Aerodrome (Q4) • First year of operation / Revenue and EBITDA positive Page 14
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Games : • Existing Business : • 3 AAA IPs • 2 smaller but strong IPs • Worldwide Publishing • 3 AAA IPs • 2 Games El Shaddai & Reich – ready for release this Fiscal - no delays 3 rd one – War Devil – moved by 6-9 months • • Gone multiplatform Vs single • Taken opportunity to pace release so as not to offer 3 IPs for pre sale in one year Page 16
Games: • Monetization process: • MG on Game – per territory or worldwide • Co Production Partner • Co Investor into that studio • Publisher/distributor will invest in marketing and cost of goods & finalize release Qtr • Revenue Models (for each AAA Game): 1. The Game on PS3 & XBOX 360 2. The Game on Digital & other formats/platforms 3. Sequels 4. Movie Production Rights - we have script + 45mins of Movie Quality Graphics 5. Comic Books & Publishing 6. License other territories 7. The Full Studio Page 17
Games: List of Companies who are in discussion with us for Pre-Sale of each game: • • THQ CAPCOM • • KONAMI WARNER BROS • • SONY MICROSOFT • • LEGENDARY PICTURES ELECTRONIC ARTS (EA) • • BANDAI NAMCO PERFECT WORLD • • STAR ENTERTAINMENT ACTIVISION • • SQUARE ENIX KOCH MEDIA • SEGA • El Shaddai • First out for Pre Sale • Reason – Plans at Tokyo Game Show Page 18
Games: • Break even Qty per game is approximately 1 million units • Which works out to ~165K units/ per platform (PS3 & XBOX 360), per 3 main territories (USA/Japan/EU & UK) • Brief Statistics on Top Console Games : 2009 CY PS3 Xbox 360 AAA Titles Released Per Year: No 1 No 25 No 1 No 25 • Total 25-30 USA 3.2 mn 380 k 6 mn 660 k • Original Titles <10 Europe 2.8 mn 400 k 2.7 mn 340 k Japan 1.7 mn 70 k 210 k 31 k Source: VGChartz.com 2009 Data • Industry status last 18 months & dearth of AAA games for release over next 12 months Page 19
Games: • Plan/Timeline – on 3 AAA Titles August’ 10 end El Shaddai playable, along with 2 nd Road Show • August ‘10– Reich playable , along with 1 st Road Show • Sept’10 – 1 st Road Show on War Devil – for Co Producer • • Sept’10 – Tokyo Game Show – Consumer unveiling of El Shaddai – act as major push for Publisher/Distribution deal closure • Oct/Nov’10 – close Pre Sales on El Shaddai Oct/Nov’10 – 2 nd Road Show on Reich • • NOTE: we are ready to release El Shaddai & Reich in FY10-11 – but post Pre Sale will also depend on Publisher Page 20
Games: • 2 smaller strong IPs • Both Releasing in FY11-12 • Much shorter cycle of Production • Cost range USD 1.5 – 3 million • Publishing: • Tango Down on XBOX 360 & PC launched in Q2. Till date sold _______units • Tango Down on PS3 releases in Aug/Sept 2010 • We have 6-8 titles for release this year • Financials • Estimated 80cr from Publishing; positive contribution towards EBITDA , and tracking well • 3 IPs – in our projections – we have looked at only MG & Pre Sale of one Game “El Shaddai ” - & with no overflows or Revenue from other Rights Page 21
Broadcasting Page 22
Broadcasting • The most valuable “Mass Specialty Network of Channels” • Revenue & Scale – In Top 5 Networks of Country • EBITDA wise – to be in Top 2-3 networks in the country • 100-125% growth YOY from Last year on Adv & Sub Revenues • Of our Projected Rs 220 Cr Revenue for FY10-11 (up 100% from around 110 Cr in FY09-10 excluding Syndication), we have signed/locked Rs 150 Cr (70%) • EBITDA Breakeven/Positive (as committed) from this Quarter & Year • Q1 run rate of Rs. 48 Cr already on course for Annual target of 220 Cr • “UTV Action” – Break Even in One Year Page 23
Broadcasting • FY11-12 – Just these 4 Channels (excluding potential new ones) – aim to grow @ 50% & demonstrate a 25-30% EBITDA margin model • Defined Goal for New Channels: • Work as Low Capital Employed start ups • Formula for Breakeven/EBITDA Positive in 18 months • Should have 360 ° Revenue potential - Web/Digital/Ground • Overall: Strong stable Business Model – clear visibility on Q on Q and growth & coupled with our high growth TV Content Business = strong contributor for offering up to 40% consistency & predictability to overall UTV Model Page 24
Motion Pictures Page 25
Motion Pictures • We are not a “Corporate” – we are a “Studio”: • Creative • All talent casting • Marketing & Distribution • In FY10-11 we are the No.1 Movie Studio in India – in terms No of Releases/ Revenue/Box Office • We have 11-12 Movies Releasing this year – well balanced quarters • Only Studio with 8-10 movies for next year 2011-2012 Release-locked • Right Cost Model here on • Marketing Prowess – gets us higher Box Office & attracts all to work with us • In this year FY10-11, 3 of the Top 5 at the Box Office (if not 3/3) will be UTV • Undisputed Leadership – We are twice the size of our nearest competitor Page 26
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