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UTV Targets FY11 Revenue Of Rs. 50 Cr For Indiagames, Rs. 30 Cr For UTV New Media

2010-2011 will be a critical (financial) year for Media company UTV Software Communications, as its most of its international gaming business will launch products: Over the past couple of years, UTV has invested substantial amounts of money in its console gaming business Ignition Entertainment and online gaming business True Games. UTV also owns Indiagames, which develops mobile games for the global market, and distributes online and mobile games in India.

UTV is promising a better financial year 2010-2011 for the Gaming and New Media segment, targeting Rs. 400 crore in revenue, setting the following targets:

– Indiagames, UTV’s mobile gaming business, which also operates the Games on Demand distribution business, has been set a target of Rs. 50 Crore, with 10-15% EBITDA margins.
– UTV New Media has been set a target of reporting a marginal profit, and Rs. 30 crore in revenue.
– Online Games (True Games): Rs 400 million and operating margins of 15%
– Console gaming (Ignition Entertainment): Rs. 300 Crore with 20% EBITDA margins.

Gaming: Investment Done, Now Expecting Returns

The money is expected to come in primarily on the back of the launch of online and console games: True Games is expected to release Mytheon in July/August 2010, and a pre-sale process for minimum guarantees or upfront license fees has already begun. On the console gaming front, Ignition will launch ‘El Shaddai’, ‘Reich’ and ‘WarDevil’ on PS3 & Xbox 360 , apart from smaller IPs like “Hells Cook” and “Dragons Crown”. While the company will negotiate publishing deals in the coming months, they expect at least one of the 3 major IPs to be released in this calendar year.

For the year 2009-10, UTV has reported revenues of Rs. 95.09 crore from the gaming business, down 13.93 percent year on year, and has been the case, reported negative EBITDA for the business.

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UTV New Media

Not much information from UTV on their New Media business, which comprises of the business from IT Nation: Techtree.comCXOToday.com and Channeltimes.com, and also has content businesses on the mobile – Voice Blogs and Audio Cinema. UTVs New Media segment reported revenues of Rs. 11.91 crore for FY10, of which Rs. 3.56 crore were reported for the quarter. At the EBITDA level, the new media division continues to report a loss.

Overall performance

On an annual consolidated basis, UTV reported revenue of Rs 6,81.21 crore, EBITDA of Rs 67.76 crore, and PAT Rs 50.17 crore. UTV expects all of its businesses to turn black in the coming year. They’ve predicted an EBITDA margin of 16-18% for FY11, on consolidated revenues of Rs 12,000 million: expecting a whopping 65% growth as compared to the previous year.


Bloomberg UTV To Sell 18% Stake To Reliance Capital; FIPB Approval For FDI In UTV News Ltd
IndiaGames & True Games Rebranded; Indiagames Inks Content Deal With Mobile Streams
UTV Rev Up 12% YoY; Gaming EBITDA Negative
UTV Software Reports Operational Profit; Indiagames Gets Etisalat WAP Deal
– Indiagames Powers Games On Reliance BIG TV DTH
– Q1-10: UTV Gaming Revenues Down 19% YoY, Losses Up

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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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