It’s over a year since India TV launched their website, and began streaming their sensationalised (occasionally comical) news content online. The company has now announced the formation of India TV Interactive (ITVI) with Arvind Mahendru as SVP (New Media) of ITVI. Mahendru will report to India TV MD Ritu Dhawan, and joins from GroupM. He has worked with Bharti Airtel as GM Marketing, Indiatimes as Chief Manager (Broadband), as well as media companies like Zee Turner and Star TV.
ITVI will focus on the digital domains – Internet, Mobile and probably other platforms like IPTV. Over the past couple of years – with an eye on valuations and possibly an IPO, several Indian media companies have established separate digital subsidiaries:
HT Media - Firefly e-Ventures
India Today and TV Today Ltd - India Today Digital (Digital Today)
UTV – UTV Interactive and UTV New Media
NDTV Ltd – NDTV Convergence
Network18 Group – Web18
BAG Films & Media Ltd – BAG Convergence
The problem is that many of these digital companies haven’t yet turned a profit, and with a global recession in sight, a $1 Billion IPO on NASDAQ (you know whom I’m talking about) is certainly not on the cards any more. So, from India TVs perspective – too little too late?
India TV had raised $11.5 Million from Fuse+ Media (part of Velocity Interactive Groupfor a 19.17% stake), and another Rs. 20 Crores from Shyam Equities earlier this year.
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4 Comments until now.
“you know whom I’m talking about”. Actually I don’t. Care to enlighten us?
Gossip blog or news blog?
Though gossip blogs do better than news blogs. Good as a strategy.
I’m waiting for the time you say news is not for sale. You carry press releases for free.
Figure it out for yourself. We select info from releases, and reject several outrightly. there’s a decision being taken on what we put out. You want proof of that – try sending a release.
Last heard, the expectations of USD1 bn IPO had been scaled down to USD500 mn. Though why would someone pay a 20X FY2010E sales for a company that does not deliver a profit (and has no chance to deliver a profit for the next 3-5 years at least) is beyond me. Then again, the I-banker-who-would-not-be-named has been known to pull many new tricks out of his hat. My sympathies with the American investors; it looks like the internet bubble all over again.
PS: Harry Potter rocks!!
AcK
Why waste resource on India TV coverage. What value it is creating for the nation ? Well that matter most news channel doesn’t.