Disney+ Q4 paid subscriber count at 73.7mn; IPL makes Disney+ Hotstar largest contributor

The Walt Disney Company will continue to ramp up investments in Direct To Consumer (DTC) business, said CEO Bob Chapek during the earnings call

e4m by exchange4media Staff
Published: Nov 13, 2020 9:18 AM  | 4 min read
Walt Disney

The Walt Disney Company will continue to invest heavily in Direct To Consumer (DTC) business, Bob Chapek, Chief Executive Officer, said during an earnings call on Friday.

“We will talk more about this on our investor call next month but we will continue to ramp up our investment in DTC and we will be heavily tilting the scale from linear network to DTC business as we see that as our key source of growth. We are going to talk about this more on December 10,” he said.

The company also mentioned that Disney Plus ended Q4 with 73.7 million paid subscribers wherein Disney Plus Hotstar is the largest contributor to this increase driven by the start of delayed IPL season. Disney+ Hotstar subscribers now account for a little over a quarter of Disney+'s global subscriber base. Roughly 18 million of 73 million global subscribers are from India.

The Walt Disney Company on Friday reported earnings for its fourth quarter and fiscal year ended October 3, 2020. The total segment operating income stands at $606 million for Q4, 2020.

Its Diluted Earnings Per Share (EPS) from continuing operations for the fourth quarter was at a loss of $0.39 million compared to the income of $0.43 in the prior-year quarter. Excluding certain items affecting comparability, diluted EPS for the quarter was a loss of $0.20 million compared to income of $1.07 in the prior-year quarter.

Results in the quarter and fiscal year ended October 3, 2020 were adversely impacted by the novel coronavirus (COVID-19). The most significant impact was at the Parks, Experiences and Products segment where since the second quarter of the fiscal year, our parks and resorts have been closed or operating at significantly reduced capacity and our cruise ship sailings have been suspended.

Direct-to-Consumer & International revenues for the quarter increased 41% to $4.9 billion and segment operating loss decreased from $751 million to $580 million. The decrease in operating loss was primarily due to improved results at Hulu and ESPN+, partially offset by higher costs at Disney+, driven by the ongoing rollout and a decrease at our international channels.

“One year ago we launched Disney Plus and it's quickly exceeded our higher expectations, said Chapek. He further added, “We pulled off the streaming service across 20 countries worldwide. As we end the fourth quarter Disney Plus has recorded more than 73 million paid subscribers in just it's first year and we continue to see the positive trends. The growth of Disney Plus speaks about the strength of our IPs, our unparalleled brands and franchises.”

Chapek expects that the new international launch of Star branded general entertainment offering will enable Disney to grow their business further in a year's ahead. “Given our Direct to Consumer business is key to future growth of our company we restructured our media and entertainment businesses by separating content creation from distribution.”

During the earnings call, speaking about the reorganization that the company announced in October, Chapek said, “I would suggest that, given everything that’s happening in the world, this is the perfect time for us to do a reorganization and I am 100% confident that this is going to play out exactly as we have intended. It’s going extremely well and despite the disruption in everyone’s roles, I think we have 100% buy-in because we have clarity on accountability, which everyone really likes, and we separated out roles to what people tend to do best.”

He further added, “The distribution, who manages the P&L, will set the parameters for annual and long-term budget framework that is then agreed to on the slate with the content creators and then the content creators then green-light the individual projects and shepherd the development and production. So, essentially distribution is now able to optimize the commercialization without maybe too much unnecessary regard for legacy distribution platforms but at the same time, our creatives, who as you know are the best in the world, are really free to do what they do, and that’s make the best content and storytelling possible. A lot of collaboration between the two groups opens up some level of independence in terms of each being what they can be and doing their jobs best.”

Chapek also spoke about India's business and said, “Uday (Uday Shankar) our India’s executive gave indications several months ago that he is moving out. We have got a really deep bench there and we feel that we have all kinds of opportunities and a lot of success so far with Disney Plus and we have no reason to believe that the success won’t continue or accelerate going forward.”

The company will have a next investor meeting on December 10 where they will talk about a detailed investment plan and also the global subscriber numbers.

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Manja wins integrated digital creative mandate for Taco Bell

The account was earlier with BBH India

By Tanzila Shaikh | Mar 16, 2023 4:33 PM   |   1 min read

Manja
Sources have confirmed to exchange4media that Manja has won the integrated digital creative mandate for Taco Bell, the world’s largest Mexican-Inspired quick-service restaurant chain. The creative agency was launched by BBH's Arvind Krishnan and Leo Burnett's Prajota Guha Thakurta in July 2022.
The account was previously with BBH India, which was awarded the mandate in 2019. Manja will be the agency on record from now on.

Taco Bell, which has been leveraging influencer marketing, collaborated with youth icon and gaming enthusiast Rannvijay Singha in 2021 for the #CravingMeetsGaming experience through a virtual Game Session in the racing game Forza Horizon 4. In the same year, they also did #ISeeATaco campaign as well. 

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Former Rajya Sabha MP Syed Zafar Islam joins enba jury

He is the national spokesperson for the BJP and a former member of the upper house of parliament from the Uttar Pradesh constituency

By exchange4media Staff | Mar 16, 2023 8:40 AM   |   1 min read

enba

Syed Zafar Islam former Rajya Sabha MP, and politician with the Bharatiya Janata Party has joined the enba Jury Panel.

He is the national spokesperson for the BJP and a former member of the upper house of parliament from the Uttar Pradesh constituency. He has previously been an investment banker and managing director at Deutsche Bank.

He was appointed as the non-official independent director of Air India 2017. Zafar Islam frequently writes opinion pieces on economic and political affairs in national publications like the Hindustan Times.

The enba jury this year will be led by Sunil Arora, a senior bureaucrat, and former Election Commissioner of India.

In the last editions, the ENBA jury was led by Sh. Harivansh Narayan Singh – Deputy Chairman, Rajya Sabha, Dr. Kiran Karnik – Former President – Nasscom, Dr. Nasim Zaidi - Former Chief Election Commissioner of India, S.Y. Quraishi – Former Chief Election Commissioner of India, N. Ram – Chairman, Kasturi & Sons Ltd., Former Editor–in-chief The Hindu and Group Newspapers, Sanjay Gupta – Managing Director – Star India.

exchange4media formulated enba in 2008 with the objective of recognizing the best in television news, and to reward industry leaders who are responsible for shaping the future of television broadcasting in India.

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Oscars 2023: RRR, The Elephant Whisperers win big for India

'Naatu Naatu' clinched a win for 'Original Song', and 'The Elephant Whisperers' bagged the golden statuette for 'Best Documentary Short Film' at the 95th Academy Awards

By exchange4media Staff | Mar 13, 2023 9:00 AM   |   1 min read

elephant whisperers

India has bagged its first Oscars for 2023 for the Netflix documentary movie ‘The Elephant Whisperers’ at the 95th Academy Awards for 'Best Documentary Short Film'. Kartiki Gonsalves and Guneet Monga the director-producer team behind the film have dedicated the win to India. SS Rajamouli's period action blockbuster 'RRR' also clinched a win for Original Song "Naatu Naatu."

The 40-minute documentary is centred on the bond between animals and humans and tells the story of a Tamil couple named Bomman and Belli who bring up an orphaned elephant named Raghu. The film reflects upon the struggles of the couple who fight against all odds to raise the elephant into a healthy juvenile. The film is set in the Mudumalai National Park in Tamil Nadu.

The Telugu hit song was competing with "Applause" from "Tell It Like a Woman", "Hold My Hand" from "Top Gun: Maverick", "Lift Me Up" from "Black Panther: Wakanda Forever" and "This is a Life" from "Everything Everywhere all at Once."

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Rohit Jawa: Meet the new CEO of HUL

Jawa is presently the Chief of Transformation for Unilever in London

By Ruhail Amin | Mar 10, 2023 5:11 PM   |   2 min read

rohit jawa

Rohit Jawa is all set to join as the CEO designate and whole-time director for HUL from April 1, 2023, and will also take over as the president of Unilever South Asia. He will join the Unilever Leadership Executive (ULE) on April 1, 2023.


Who is Rohit Jawa?

Rohit Jawa is presently the Chief of Transformation for Unilever in London since January 2022. Jawa started as a management trainee in 1988 and has worked in the company across India, South East Asia and North Asia.

He started his career with HUL as a management trainee in 1988 and has a proven track record of sustained business results across - India, South East Asia, and North Asia. As EVP for North Asia & Chairman for Unilever China, he led a significant transformation of Unilever China into a competitive, profitable, and consistent business, now Unilever’s 3rd biggest globally.

He was also the Chairman of Unilever Philippines where he led the business to become one of the top 10 markets for Unilever globally.

In a statement, HUL said, "Rohit’s ability to integrate the strength of traditional markets with digital technologies and future-fit business models, positions him well to take HUL into its next growth phase."

Having done a Bachelor of Science from St. Stephens College, Delhi and an MBA from Faculty of Management Study (1986-88), Jawa recently got an Executive Education Certificate in Advanced Management Program, Business Administration and Management, General from Harvard Business School.

In 1988, Jawa started his career with HUL as a management trainee and has a proven track record of sustained business results across - India, South-East Asia, and North Asia. In June 1988, he became General Manager for the Western Region in-charge of the sales and operations.

After staying in the role for nearly 16 years, he became Vice President for Unilever Vietnam from May 2004 to Oct 2006. He was Head of the Home Care business and Marketing function for Unilever Vietnam.

Jawa, throughout his marketing career, has contributed to the industry in the Asian region, including serving as an expert speaker and judge in several regional advertising and marketing forums. Internationalist Magazine recognised him as one of 'The Asia 50' marketers in 2013. He was also awarded the 'CEO Excel' Award for 2015 by the Philippines chapter of the International Association of Business Communicators for leadership in business communication.

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Rezolve secures $250 million in capital commitment from Yorkville Advisors

The proceeds will go into working capital and corporate purposes

By exchange4media Staff | Mar 2, 2023 10:00 AM   |   1 min read

rezolve

Mobile commerce and engagement platform Rezolve has secured $250 million in capital commitment from private alternative investment group Yorkville Advisors in the form of a share subscription facility.

Under the terms, Yorkville will invest $250 million in equity capital for a 36-month term following a public listing of Rezolve’s common stock. While Rezolve will not be obligated to draw the full $250 million, it can do so in part or in whole at its own discretion.

The timing and amount of all the drawdowns will be controlled by Rezolve, which will issue stock to Yorkville on each drawdown. The proceeds will go into working capital and corporate purposes.

“The Yorkville facility will provide significant access to capital upon the closing of our planned merger with Armada,” commented Dan Wagner, Founder and Chairman of Rezolve.

“Rezolve is an exciting and fast-growing business with a global appeal. They have developed impressive technology that can make a real and sustainable impact in the markets they serve,” commented BJ Arnold, Managing Director Yorkville Advisors.

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Ex-DDB Mudra leaders start new agency — Fundamental

The three co-founders — Pallavi Chakravarti, Nishant Saurabh & Anand Murty — will lead the agency as CCO, CEO, and CSO respectively

By Neeta Nair | Mar 2, 2023 8:43 AM   |   3 min read

fundamental

exchange4media has learned that Pallavi Chakravarti, Nishant Saurabh, and Anand Murty, who quit DDB Mudra last year, have come together to launch their own creative agency, ‘Fundamental’. The three co-founders will lead the agency as CCO, CEO, and CSO, respectively.

‘Fundamental’ is three traditional, yet non-conformist minds, pooling in two decades of experience each to ‘make advertising great again’. ‘Basics’ are at the core.

Confirming the development, Pallavi Chakravarti, Co-founder and CCO, Fundamental says, “We’re looking to make advertising that serves the brand and not its makers alone. Unfashionable? Perhaps. But necessary? Absolutely! And we’re hoping that when people see the magic at work, they’ll rediscover that creativity in advertising is a basic necessity – right up there with roti, kapda, makaan and WiFi, and not an indulgence.”

Chakravarti brings to the table two decades of creative insights gathered while leading brands such as Marico's Set Wet, Unilever, J&J, P&G, Diageo, Star Sports, Cipla, Myntra, Meesho, Acko, Aquaguard, Uber, Instagram, Pepsi, McDonald's, The Times of India, and more. Most recently, she was Creative Head - West for DDB Mudra.

Nishant Saurabh has worked across networks and geographies to nurture and grow brands such as Asian Paints, Coca-Cola, Nescafe, Tata Docomo, Microsoft, Mastercard, Greenlam, Maaza, Minute Maid, Nissan, Airbnb, Gillette, Pantene, Raymond, Meta, Instagram, Meesho, Acko, Stayfree, and Oral-B among others. True to the idea behind ‘Fundamental’, Saurabh who was recently the Head of Business at DDB Mudra is a believer in the power of simplicity and creativity, and a nagging skeptic at the same time. Explaining the reason behind launching their own agency, he says, “We keep hearing about how good old advertising will die soon. Truth is, it is alive and kicking, because of some of the people in it. We’re looking to work with just those people. Ones who aren’t afraid to argue and question, to laugh at themselves and to roll up their sleeves in the quest for the answers that work the best. And while we’re at it, we’re hoping to bring some madness and love back to this business.”

Having switched from leading sales to strategy function, Murty is a blend of business logic and creativity. “Sometimes, you have to start right at the beginning. The big ideas and the devastatingly simple insights come from engaging with the complexity and nuance of businesses and the lived existence of people. It’s therefore important to spar, intensely engage with clients and partners and each other so we solve the right problems and not fall prey to easy pronouncements and generalisations,” he states.

Anand Murty was the National strategy head at DDB Mudra. His experience ranges across brands such as Reckitt, Voltas - where he reframed the category with ‘Murthy’, Sprite, Set Wet, Dulux, Honda, Airwick, Smartwater, Hayu, Meesho, Instagram, Veeba, Unilever, Amex
and Meta, to name a few.

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Mindshare wins PhonePe's media duties worth Rs 400 crore

The account was earlier with Lodestar UM

By Naziya Alvi Rahman | Mar 1, 2023 5:42 PM   |   1 min read

mindshare

PhonePe, the Walmart-owned digital payments company, has awarded its media duties to Mindshare India. The mandate was won following a competitive multi-agency pitch called by the brand. The account was earlier with Lodestar UM. The account billing is expected to be around Rs 400 crore.

While PhonePe refused to comment on the story, Mindshare’s response is awaited. However, the news was confirmed by highly placed industry sources.

“PhonePe called for a pitch a few months ago, and after a highly competitive pitch, the duties were awarded to Mindshare India. The mandate will include traditional, digital and outdoor,” said a source close to the development.

As per sources, PhonePe is planning to raise funds through an initial public offer. The digital payment company is reportedly seeking a valuation of $ 8-10 billion.

The digital payments app claims to have over 380 million users, driving over 3 billion monthly transactions adding up to $830 billion in Annual TPV run rate. The company has also digitised close to 30 million offline merchants, covering 99% of PIN codes in the country.

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