1.Just check how they have allocated capital in past on radio and they merged a loss making print business of parent company in it.
2.Aaj tak is the cash cow for them but from last 5-6 weeks Republic Bharat has replaced them from their no 1 position… It’s a big risk.
They did not diversify into unrelated businesses ever. Radio and news paper is their line of business. That did not work but that’s ok. Every one fails but they did not do something utter foolish. Also see the way digital revenues are increasing.
But it’s very tough industry with no entry barriers that’s the problem. It’s not the business where it’s secular growth. New players keep coming like republic Bharat and TV9 bharatvarsh. Right now it’s valuations are low so it can give good appreciation.
Not sure if lot of folks following this thread. TV Today gains after Abakkus Asset Manager buys stake | Business Standard News
Hi Everyone, I am new to this thread.
I would like to point out a very big anti-thesis from my side that could affect the business of TV Today, especially the digital business.
The fact is that today a lot of people who today watch India Today or Aaj Tak watch it more because of the following of the anchors. For example, the only news show that I watch the entire day is the one that Mr. Rajdeep Sardesai anchors and whenever he is not anchoring that show, I don’t watch it. I am not saying that this the case with every viewer but is definitely there with a lot of them. I am attaching a poll here to test the theory within the followers of this thread.
0 voters
Toady a lot of people who used to watch NDTV or India Today watch shows conducted independently by previous anchors of these very media channels on youtube.
India Today has about 5.2 Mn subscribers, on the other hand:
Newslaundry: Key Journalist: Madhu Trehan has 1.2 Mn subscribers
Mojo: Key Journalist: Barkha Dutt has 658k subscribers
The Wire: Key Journalist: Karan Thapar has 3.55 Mn subscribers
These are just a few of the many ones that I know about on youtube. The major reason that these Youtube channels got these many subscribers even after being relatively newer is because of the loyalty that viewers have towards these journalists who are founders or faces of this web-driven news.
In my view, this is a very big anti-thesis against this company which is will get even more aggravated as more and more journalists start their own youtube channels.
Disc: I am invested in the company because of the many strengths that it has.
I would also like to say that I am a relatively new investor and thus my view may be a little simplistic.
This trend is happening everywhere. Journalists are breaking out and creating their own brand.
In the US this is being done through substack. Which allows subscription based readership.
India is a different market
Journalists have you tube channels so that they can use the adbased funding model of. You tube.
Setting up a channel is easier today compared to earlier as you can be an internet only channel. No need to be on
tv.
This will sooner or later dent the news channel only companies just like it has done in the US
YouTube Viewership stats for major English & Hindi News Channels
YouTube Viewership stats for major English & Hindi News Channels
In English Wion and in Hindi Zee News, both owned by Zee Entertainment. Looks like a revival of Zee Entertainment.
India Today is far below in both.
The board has also approved the alteration of the ‘Object Clause’ of the Memorandum of Association (MOA) of the company to include additional objects in the areas of skill-based e-games, education, news aggregation, cinematograph trade, etc. and deleting of “Other Objects” to bring the Object Clause in line with the requirements of Companies Act, 2013, subject to the approval of shareholders by way of Postal ballot.
One of the additions to the company’s MOA includes “to undertake the business of skill games/sports on various digital platforms including but not limited to website, mobile platform, television and organise, conduct e-sports tournaments online and offline, e-sports awards ceremony, creation/auction of Franchise based Esports league team and sell merchandise, and otherwise dealing, handling and developing online, web and app-based games relating to live sports events and provide other related services on online mode or on any other mode in India or elsewhere”.
The object clause of the MOA now also includes “establishing, developing, setting up, organising, running in any part of India and abroad Institute(s), multimedia centre(s), where in professional, technical, vocational or higher education in every field of Journalism, mass communication, media and entertainment management, visual communication, broadcast journalism, digital education be imparted and develop, operate, maintain, support an online web portal, software, web application or directory for providing details, information, solutions and services related to Education field including but not limited to conducting entrance tests, facilitating college enrolment, providing counselling services to students and parents with respect to admission in colleges In India and international and other related services on online mode or on any other mode In India or elsewhere”.
Another addition to the object clause is “undertaking the business of news aggregators, news collection, content aggregators and develop and maintain software, website, WAP or web applications, aggregate and curate news content from various sources including but not limited to websites, blogs, podcasts, video blogs and to collect new stories and other Information”.
The company has also added the object “to carry on the business of the cinematograph trade and Industry in all their branches and activities and particularly the business of manufacture, production, distribution, exploitation, exhibition, import and export of all kinds of cine films, talkie films, video films, telefilms, documentary films, advertising films, TV Serials and films and motion pictures of all kinds and nature for entertainment, amusement, publicity, education and instruction in all languages prevailing in the world”.
Source :
Education - Zeelearn/byzus or shiksha/collegedunia ???
Esports ???
Serials/Films - Zee, Sony ???
Any views on these statements by management
What happened to TV Today if someone could highlight. I do not see any bad news that lead it to break by 20%. Result overall is inline. Even cash is good.
Do you think that there will be a hot in revenue due to the lack of funding in the start-up ecosystem? Most of their advertisers in the past year have been crypto companies and other such fintech startups that might not have the best access to capital for the next year or two.
Was going through the latest annual report and discovered that the Company shut down one of its Hindi news channel “Tez” and launched a new channel in place of same by the name of “Good News Today”. (I missed this announcement made regarding this matter to the exchanges in Sep 21 when this thing was actually done). Though, the company has returned its best set of numbers in FY22, but it bugs me that why did the management not even mention the word “Tez” in the latest annual report. They didn’t bring up the topic of “Tez” as if it never existed in the history of the company. Whereas if you go back to the previous year annual report i.e. FY21, the management commentary regarding the success of the particular channel and the report on rankings and ratings continue in line with the previous years’ commentaries. I think it would have been relevant for management to also comment on why they had to shut down one channel which was supposedly doing good till last year and for so many years prior to that, to launch a new channel. They just stressed on the concept of the new channel instead, as if shoving down this information down the throat of the reader.
Also can anybody throw light on the constant increase in the employee benefit expenses and advertising expenses since FY18 to FY22 as a % of sales.
Disclosure : Invested
Trading at the lowest pe in last 15 years barring the covid period.A market leader company at 1.5 times book and less than 10 pe.The company’s market cap is 1700 crore,but cash itself is 860 crore(refernce:balance sheet 2022) .
They are hoarding cash for no reason though.That may be the only drawback here.
Why is TV Today struggling in terms of sales and profit growth? Is there any reliable data available for their viewership over the years, in comparison with other Hindi news channels in India?
They have released quite a stash of cash today. The dividend of Rs67 per share is handsome.
OTT continues to be a major threat - however in India the growth of TV Sets has been positive. Folks are seen to be viewing multiple screens at the same time - with TV being used sometimes for current affairs like news, where TV Today plays the role. Their Digital division is catching the ropes on OTT orientation. Hoping to see progress in that zone. Meanwhile the company has released cash with the probable realization, that cash is best allocated by the investor, than them.
Disclosure: Have been holding from about a decade - hence my Total Return has been positive - hence the bias. No recommendations.
Hi Pavan,
Just a few questions, they gave a handsome dividend even in FY 2019-20 and yet again in FY 2022-2023. Their margins have gone down and the growth is also muted. I just wanted to understand your perpesctive on the long term prospects of this company for the next 7-10 years, taking into account the OTT threat.
After the NDTV acquisition by Adanis, not many investable companies in this sector!
Correct Answer is: I dont know. 
With that high pedestal my further answers are only probabilistic.
With nearly half the MCap in Cash & Equivalents, perhaps the management saw themselves as a takeover target - especially with Adani-NDTV play. So as in the movie Other Peoples Money - OPM - they had to de-sweeten themselves.
Generally all TV - Entertainment entities are finding going tough. TVToday (TVT) has a slim baggage, i.e News and slightly pesky Radio unit which is leaking money. Others have general entertainment as a mode of business which is usually hit-miss depending on the content. News is always around, especially gruesome news. One can watch news without volume, useful as screen fillers in crowded areas like Airports, Trainstations, public display entities.
TVT usually peak earnings with election season. We have a few coming up.
Few Fund houses are on board as shareholders for relatively safety concerns in terms of management, balance sheet, possible dividends and lastly a take over from non-Adani group - as NDTV is already in that group.
Finally the company is doing fairly well in Digital department and I see their videos being recommended on YouTube. For Finance aspects they have roped in Udayan Mukherjee a fairly eminent anchor, who asks intuitive Qs rather than ‘whats your prediction of Nifty …’.
My buy quite a while ago was on Cable reforms coming in around 2013s. But that has played out. Now it is OTT season and management needs to rejig their approach.
Each of the above points will have a subjective probability associated and one has to feel comfortable to buy or hold for the future.
Anyone know when the Rs.67 per share dividend gets deposited ?
Already received on 21st Feb.
Sharing some business insights, growth triggers, and some of my personal futuristic expectations regarding TV Today Networks through an equity analysis done by me. I hope it helps clarify the investment horizon and provides you with better and more precise insights associated with the company.
TV Today Networks Ltd…pdf (1.8 MB)
