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UTV Software Reports Operational Profit; Indiagames Gets Etisalat WAP Deal


UTV Software‘s gaming company Indiagames has won its first “Master Service Provider” contract for entire WAP deck management, including games, imagery and music for Etisalat DB, which will be launching services shortly. As a part of its earnings announcement for the quarter ending September 30th 2009, UTV also disclosed that Indiagames has launched, on its Games On Demand platform, a website for Download to Own games, which will be launched commercially in the current quarter.


Details: FinancialsRelease | Call (None)

Consolidated Results

UTV reported consolidated operating revenues of Rs. 2376.7 million, up 39% y-o-y from Rs 1,709 million. Compared to an operational loss reported for the same quarter last fiscal, UTV has reported an operational profit of Rs. 181.04 million, as compared to a a loss of Rs. 94.05 million for the same quarter last year.

On the broadcast front, UTV increased its holding in UTV Global Broadcasting by 10% by September 30th 2009. UTV owns 85% of the equity share capital of UGBL.

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The gaming segment, which includes Indiagames, Ignition Entertainment and True Games, contributed 25% to UTV Software’s revenues during Sep09. After posting an EBITDA loss of Rs. 96.41 million last quarter, the gaming segment reported an EBITDA profit of Rs. 98.91 million, with revenues up 392% sequentially and 167% year on year. One must keep in mind that the gaming business is akin to the films business, wherein revenues and hence profitability might be lop-sided.



— Indian Market: Indiagames released over 50 games in the Indian market during the quarter ended September 30th 2009, according to UTV Software. Some of the key titles included games based on Hindi Films such as Aagey Se Right, Wake Up Sid, Quick Gun Murugun, Kaminey, What’s Your Raashee, as well as Cricket games based on England vs Australia Test Series and the Cricket T20 World Championship. Cricket is a key segment for Indiagames. Syndicated content included Harry Potter Half Blood Prince, Mobile Grand Prix1, EA Cricket 10, Need for Speed Shift and Speedway 2009, Mercury Meltdown (which is based on Ignition Entertainment’s IP).

— Games on Demand: Indiagames launched a bundled pack with Airtel Broadband for games on four premium plans. As we mentioned earlier, the company also launched a Download to Own service.

— International Market: Indiagames is focusing primarily on iPhone launches, Australia vs England Test Series, Australia vs. England T20, Godzilla, Movin Maze and The Office Challenge.

Ignition Entertainment

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UTVs console gaming business, Ignition Entertainment, Ignition released two games:

The King of Fighters XII (KOF XII) was released for PS3 & Xbox 360. The game was released in North America at an RRP of $59.99, in Europe for at an RRP of EUR 59.99, and in the UK at an RRP of GBP 39.99.
— Muramasa: The Demon Blade was released for the Nintendo Wii in North America at an RRP of $49.99.

Ignition plans to release of its three AAA titles on PS3 and XBOX 360 during the third quarter of fiscal 2011.

True Games

True Games is UTVs Massively Multiplayer Online Role Playing Games (MMORPG) company, focused on creation of their own gaming platform in US and Turkey and syndication of its content to online platforms to the rest of the world. The company released a beta version of its first game Warrior Epic in the US on May 19, 2009 and expected to launch commercially by the end of November 2009. Its second game, Mytheon is under development and is expected to release in Q4FY10. Syndication deals are tied in for the first game in territories like China, Korea, Russia and Europe. The company has put together an efficient development studio at Beijing and Austin to undertake its development activities for its games Warrior Epic and its third game Heaven & Hell.

New Media: UTV New Media & IT Nation

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Not a quiet quarter for UTV New Media and IT Nation – with layoffs at IT Nation, and Zaki Ansari joining UTV New Media as Chief Product & Technology Officer. UTV reported that New Media revenues are down by 21.65% at just Rs. 21.84 million, EBITDA losses increasing by 33.3% to Rs. 29 million. This is despite a 25% sequential and 12.94% year-on-year reduction in capital employed in the New Media segment. The percentage contribution of the New Media segment to UTV revenues declined sequentially to 1% from 3% last quarter.

No significant inputs on the companys Internet businesses, but on the mobile front, UTV says that the company has been working on reducing the gap between the theatrical release of a movie and its launch on audio cinema, in order to take advantage of the buzz surrounding the release. The company says that the film Kaminey was launched on audio cinema just 15 days after its theatrical release. They also launched 12 ring back tones based on the 12 characters of Priyanka Chopra from the movies Whats Your Rashee.


— UTV New Media & Indiagames Unite Sales Teams; TrueGames; T.N.Prabhu Joins Vayugrid
MK Anand To Join As CEO Of UTV Global Broadcasting
— Bloomberg Partners With UTV In India; UTVi To Be Bloomberg-UTV; Content?
— Zaki Ansari Joins UTV New Media As Chief Product & Technology Officer
— Indiagames FY09 Turnover At Rs. 464.2M, PAT At Rs. 2.24M
— UTV New Media Reports Rs. 150M FY09 Turnover; Downsizes IT Nation
— UTV Gaming Revenues Down 19% YoY, Losses Up

Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



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