ICICI Securities Limited is the author and distributor of this report 1 January 2018 Media: Content Meter Movies: The next battleground Research Analyst Research Analyst Vikash Mantri Abhishek Bohara
[email protected] [email protected] +91 22 6637 7161 +91 22 2277 7637 Please refer to important disclosures at the end of this report Movies – The next battleground Investment in movies is on the rise with digital rights of movies becoming critical for OTT platforms. Along with satellite rights acquisition, broadcasters are aggressively acquiring digital rights as well to spruce up their OTT content offering. Also, broadcasters are active in movie production and distribution. In this month’s content meter, we look at activity of broadcasters and OTT platforms in the movies content space. Movie production and distribution: Zee Studios released 8 movie in 2017 (7 in 2016), with successful movies like ‘Raees’ and ‘Secret Superstar’. In music label business, it was associated with relatively smaller movies vis-a-vis T-Series (leader in industry). ZEEL premiered higher number of movies released in 2017 with few blockbusters. Movies on OTT platforms: Amazon acquired highest number of movies for its OTT platform with many tail-ended movies. Netflix and Hotstar focused more on big movies. Sharp increase in ZEEL’s content inventory in FY17 and H1FY18* 20.1 16.8 ZEEL recently highlighted importance of movie content as key 13.0 11.7 11.7 pillar for growth going forward and Rs bn Rs 8.7 emphasised on its intent to ramp up 7.3 investment in movie content.