Evaluation of 4 New Strategic Initiatives

- Confidential - 0 Where are we today as a Network and the Indian TV Market…

 TAM’s introduction of LC1 Markets in the panel, has resulted in the ratings of the flagship channels to fall, along with reach and TSV

 The MSM bouquet doesn't have a material presence in the Regional space

 Key competition – Star, Zee and Colors have a well established presence in the regional space and Star and Zee’s flagship channels are performing better in the GEC genre, even with the LC1 expansion

 Absence of regional channels in the bouquet is a clear gap in the Network's genre reach

 Key competition, has a far more “pan-” offering both in terms of genre spread and ratings

 Competition has a strategic advantage with presence in carriage. Both Star & Zee have presence in ground distribution (Star DEN, Tata Sky & Dish)

MSM currently doesn’t have a “complete package” offering for advertisers and distributors

- Confidential - 1 The Potential implications..

 Flagship channel’s falling reach & TSV, may result in advertisers reducing the Premium on the channel

 With programming not targeted to female audiences in small towns, the introduction of TAM meters and further expansion, in Rural markets may result in further drop in ratings

 We also run the risk of being dropped by operators due to gaps in our bouquet offering and also for strategic reasons, which may further fuel a decline in reach and ratings.

 TRAIs mandate of 12 minutes per clock-hour for Advertising and Promotions

The network should aim to target all SECs, markets, across both genres to reduce the risk of being ignored by media planners and also potentially losing presence on ground

- Confidential - 2 Opportunity 1 – Female-skewed, lower SEC GEC Plan

- Confidential - 3 LC1 Market – An Introduction

 LC 1 corresponds to towns with less than 100k population in Urban India

 In 2013, TAM released data for five new LC1 markets: , Madhya Pradesh, , PHCHP and . With this release, TAM now covers 92% of the HSM Urban market, up from 74% earlier

 These 5 new LC1 Markets comprise 17% of the universe (20% of the HSM universe). With the existing LC1, it will be 25% of HSM Universe

 system plays a more important role in the key decisions among the viewer’s here

 75% of LC1 households are SEC CDE, higher 35+ age group and more women viewers

 LC 1 markets, at a broad level, consume less television than their HSM counter parts driven by infrastructure limitations

Market Groups Univ (M) Univ % View % Market Groups Univ (M) Univ % View % HSM LC1 50 25% 23% UP LC1 9 8% 6% HSM 0.1-1 M 59 29% 29% Mah LC1 8 4% 2% HSM 1M + 45 22% 22% MP LC1 5 4% 4% 3 Metro 49 24% 26% PHCHP LC1 6 3% 3% HSM w/o LC1 152 75% 77% Raj LC1 7 3% 3% HSM+ LC1 202 100% 100% GUJ LC1 16 2% 4% Total 50 25% 23% TG: CS4+; Wk 1 to 13 2013 - Confidential - 4 LC 1 markets, at a broad level, consume less television than their HSM counter parts Any Channel Reach % TSV (weekly hour) GRP City AVG AVG AVG HSM LC1 88 16.0 2834 HSM w/o LC1 90 17.9 3233 HSM+ LC1 90 17.4 3133

3 METRO 89 19.3 3426 HSM 1-10 LAKH 91 17.1 3105 HSM 10LAKH+ 91 17.5 3190

MAHA L C 1 88 18.2 3190 GUJ L C 1 88 17.4 3057 MP L C 1 91 16.5 2995 PHCHP L C 1 86 17.7 3051 RAJ L C 1 85 15.7 2663 UP L C 1 90 13.8 2474

 Reach is marginally lesser while Time spent is significantly lesser in LCI markets

 The same gets reflected in the sizable GRP gap between LC1 and HSM markets

 Power cuts were rampant in most LC1 towns, having a direct bearing on the viewing

 In LC1 markets on an average, while 95 channels are available, consumption is limited to 26 channels

*CS4+. Wk 1 to 13 2013 - Confidential - 5 Movies and GEC shows have a higher share in LC1 markets

Genre HSM w/o LC1 HSM LC1 MAHA LC1 MP LC1 GUJ LC1 RAJ LC1 PHCHP LC1 UP LC1 GEC 39% 44% 34% 49% 43% 46% 46% 47% Hindi Movies 17% 23% 20% 26% 21% 27% 17% 25% Kids 8% 6% 7% 5% 8% 6% 7% 6% All Regional 14% 7% 22% 0% 3% 0% 9% 2% Music 5% 5% 5% 4% 5% 5% 3% 6% Hindi News 4% 4% 3% 5% 4% 5% 4% 4% Cable (Regional) 3% 4% 2% 2% 9% 3% 8% 4% Sports 3% 3% 3% 2% 4% 2% 2% 2% Others 6% 5% 3% 6% 3% 6% 4% 5% Grand Total 100% 100% 100% 100% 100% 100% 100% 100%

 All LC1 markets have strong viewership skew towards Movies channels

 Gujarat & Punjab LCIs have more viewership in cable regional channels whereas Raj, UP & PHCHP show no such trend.

LC 1 markets across states do not seem to be similar in nature. They mirror the viewership trend for their mother market much more than they do with LC 1 markets

*CS4+. Wk 1 to 13 2013 - Confidential - 6 LC1 – Prime-time is 7 to 10 pm Viewership Pattern Across the day 30

25

20

15

10 HSM W /O LC1 HSM LCI HSM W ith LC1

5

0

0 0 0 0 0 0 0 :00 :0 :0 :00 :0 :00 :0 :00 :0 :00 :00 :0 :00 :0 *CS4+. Wk 1 to 13 2013 2:00 3:00 4:00 5:00 6 7:00 8:00 9:00 9 10 11 12 13 14:00 15 16 17 18 1 20 21 22 23 In LC1 markets, peak time is 8- 8.30 PM and it dips at 9.30 PM, top shows in this markets tend to be in before 10 PM - Confidential - 7 Movement in GEC genre over past SAB, Life OK and Star Utsav have gained both in GRP and Reach

Avg Weekly GRP (All Day) Avg Wkly Reach% (All day) Channel CY 2010 CY 2011 CY 2012 CY 2013 CY 2010 CY 2011 CY 2012 CY 2013 Sony Ent. TV 171 196 216 170 58 57 58 55 Star Plus 341 309 266 261 62 61 59 59 Colors 287 242 219 212 62 59 55 53 Zee TV 239 191 212 222 58 54 54 53 SAB 103 130 131 139 41 42 43 43 Life OK (Star One) 45 39 109 126 35 33 46 46 Sahara One 27 31 37 25 29 30 29 24 Star Utsav 22 29 37 53 14 15 15 20 GEC 1236 1167 1226 1206

Average Time spent over the years is showing a decreasing trend, except in case of specific channels

2011 2012 2013 Channel Allday Primetime Allday Primetime Allday Primetime Sony Ent. TV 101 75 112 84 92 69 Star Plus 154 107 135 103 136 106 Colors 123 96 120 97 118 102 Zee TV 107 90 117 94 124 100 SAB 92 65 91 67 98 79 Life OK 36 27 70 50 81 64 Sahara One 31 26 38 34 30 28 Star Utsav 58 45 72 65 79 81 Zee Smile - - 58 58 41 36

- Confidential - 8 Based on research, Television content has 6 roles in LC1 Markets Definition Shows/Channels

The Knowledge : -Importance of Which creates the awareness in these markets Education, KBC, Crime Patrol, Source For those housewife who are not allowed to move out of Star Plus, e.g. Akshara, Sandhya, The Companion the house in many small towns are do not have any very Gopi, etc. little say in the family The Diya Aur Baati Hum, Pratigya – Empowerment Women empowerment had a similar impact in these towns Fighting oppression, , as it does in the bigger cities , Hitler Didi, Punar Source Vivah

The Rejuvenator This benefit featured prominently for both males and Taarak Mehta, CID, Comedy Circus females, but in different ways & all films Allowed viewers to escape into worlds that were more The Escape Good sets, costumes, jewellery, etc. glamorous, interesting and vibrant than their own mundane on Star Shows Agent lives. The Change Led to real changes in viewers lives, which they had Diya Aur Baati Hum, Saathiya, Yeh Agent experienced and could verbalize Rishta, DID, JDJ)

“The imagery was driven primarily by alternative programming like: Crime shows and the absence of higher emotional states in its content makes Sony vulnerable as a channel”- ORMAX

Source: ORMAX Media Report - Confidential - 9 Impact of LC1 on GECs Zee TV has gained, Star plus has maintained, while Sony and Colors have lost viewership

W/O LC1 With LC1 256 258 260 227 213 213 220 210 187 174 147 142 160 121 116 110 53 38 Avg wkly GRP 60 10 SET SAB STAR Plus Colors Zee TV Life OK Star Utsav *CS4+. Wk 1 to 5 2013

 Driver Content for LC 1: Serials, Movies, Mythological

 Non Fiction, Reality shows could be used as marketing stunt but cannot drive appointment and viewership

 Zee TV’s heritage advantage gave it a clear edge over others

 Star Utsav and Zee Smile make strong gains in the LC 1 markets. However these gains are basis FTA status and NOT basis their content

- Confidential - 10 Only 1 daily soap (Taarak..) appears in the Top 20 shows while all 3 SET shows are broadcast on weekends..

Programme Channel Slot TVR SET Show SET TVR SAB Show SAB TVR Diya aur baati hum Star Plus M-F 9pm 4.8 Chhanchhan 1.4 Chidiya Ghar 2.2 Balika vadhu Colors M-F 8pm 4.1 Anamika 1.0 Baalveer 1.5 Yeh rishta kya kehlata hai Star Plus M-F 9:30pm 3.9 Parvarish 1.0 Jeanie Aur Juju 1.3 Taarak mehta ka ooltah chashma SAB M-F 8:30pm 3.9 Amita Ka Amit 0.7 - Zee TV M-F 7:30pm 3.6 Khoobsurat 0.6 Jeanie Aur Juju Repeat 0.6 Saathiya saath nibhana Star Plus M-F 7pm 3.6 Crime Patrol Repeat 0.7 Taarak Mehta Rpt 0.6 Pyaar ka dard hai Star Plus M-F 10pm 3.6 Kya Hua Tera Vaada 1.0 Hum Aapke Hain In-laws 0.8 Madhubala ek ishq ek junoon Colors M-F 8:30pm 3.5 Amita Ka Amit 0.7 Taarak Mehta 3.9 Sasural simar ka Colors M-F 7:30pm 3.3 Khoobsurat 0.6 Jeanie Aur Juju Repeat 0.6 best dramebaaz Zee TV Sat-Sun 9pm 3.2 Comedy Circus/CID 2.7 Hff/Fiction Repeat 0.9 Zee TV M-F 9:30pm 3.1 Parvarish 1.0 Jeanie Aur Juju 1.3 Zee TV M-F 9pm 3.0 Chhanchhan 1.4 Chidiya Ghar 2.2 Kaun banega crorepati SET Fri-Sun 8:30pm 2.8 - Hff/Taarak Rpt/Gutur Gu 2 1.4 Veera Star Plus M-F 10:30pm 2.7 Bade Achhe Lagte Hain 1.9 FIR 0.9 C.I.D. SET Fri-Sun 10pm 2.6 - Wah Wah/Hum Aapke/FIR 0.9 Chhanchhan/Comedy Bigg boss season 6 Colors Sun-Sat 9pm 2.6 Circus/others 1.5 Chidiya Ghar/Hff/Fiction Rpt 1.5 Uttaran Colors M-F 10pm 2.6 Kya Hua Tera Vaada 1.0 Hum Aapke Hain In-laws 0.8 Hitler didi Zee TV M-F 8:30pm 2.5 Amita Ka Amit 0.7 Taarak Mehta 3.9 Rab se sohna isshq Zee TV M-F 8pm 2.4 Anamika 1.0 Baalveer 1.5 Comedy circus ke ajoobe SET Sat-Sun 8:30pm 2.2 - Hff/Taarak/Chidiya/Jeanie etc 0.9

Star, Zee & Colors dominate with their weekday programming mix which drive sustained ratings week on week

- Confidential - CS4 +, wk 1 to wk13 2013 11 The new channel should target to reach 125-135 GRPs

505 500 460 Smaller towns, with female skew New LC1, 135

400 New LC1, 125

300 SAB, 150 All SECs but Targeting Male SAB, 135 Skewed Comedy Channel

200

SEC A &B in Urban Area and

100 SET, 200 SET, 220 female viewers in 1Mn+ towns

0 Minimum Maximum

With a new GEC catered to LC1 markets, MSM will have a bouquet of channels which caters to all SECs and genres

- Confidential - 12 We should aim to reach Zee’s ratings in Non Metro markets Ratings from LC1 Market Avg. Avg. Channels Wk 01 Wk 02 Wk 03 Wk 04 Wk 05 Wk 06 Wk 07 Wk 08 Wk 09 Wk 10 Wk 11 Wk 12 Wk 13 Wk 14 Wk 15 (wk 1-15) (wk 4-15) Sony 9 8 8 31 29 30 32 34 34 29 32 32 36 35 33 27 32 SAB 4 5 4 29 27 29 29 28 28 28 29 26 31 28 32 24 29 Star Plus 14 11 12 61 69 68 69 63 66 67 71 74 72 73 70 57 69 Colors 7 7 5 37 39 39 40 44 46 43 37 37 38 34 35 33 39 Zee TV 16 15 17 71 62 70 71 68 68 63 58 59 58 56 47 53 63 Life OK 5 5 6 23 24 25 30 32 30 29 30 29 28 28 27 23 28 Total 55 52 53 253 251 261 271 270 271 258 258 257 262 254 244 218 259 Ratings in Non Metros (Excl. , and Calcutta) Avg. Avg. Channels Wk 01 Wk 02 Wk 03 Wk 04 Wk 05 Wk 06 Wk 07 Wk 08 Wk 09 Wk 10 Wk 11 Wk 12 Wk 13 Wk 14 Wk 15 (wk 1-15) (wk 4-15) Sony 121 130 125 132 113 114 117 129 122 111 116 111 129 116 111 120 118 SAB 108 109 107 113 102 102 106 106 104 104 104 107 123 102 104 107 106 Star Plus 213 180 179 188 226 212 211 199 215 219 221 233 233 224 200 210 215 Colors 169 157 141 144 160 153 152 170 163 158 138 140 142 110 112 147 145 Zee TV 160 145 163 200 176 199 188 189 185 172 164 168 168 147 131 170 174 Life OK 85 84 94 85 92 94 108 110 101 97 103 99 92 84 85 94 96 Total 856 805 809 862 869 874 881 905 890 861 845 858 888 783 741 849 855  New LC1 Channel ratings will be similar to Zee ratings in Non-Metros, since the Programming content ought to be more or less in line with the Zee content

 LC1 Market was introduced from week 5 of 2013 and comparable numbers are available from week 4 so for average ratings, week 4 to 15 should be considered

 Data for Mumbai, Delhi and Calcutta are separately available whereas for the other HSM Metros data is not separately available to remove it from total GRP *CS4+. Wk 1 to 15 2013

- Confidential - 13 FTA GEC Plan

- Confidential - 14 Introduction to DD Direct Plus

 DD Direct Plus from Doordarshan reaches out to 7 Mn subscribers at a one time cost of INR 1,500/-

(USD 28) All channels are FTA on the platform

 Offers 23 DD channels, 30 private channels, 20 All India Radio stations and 3 private FM stations.

 Broadcasters charged a minimum reserve price for e-auction was INR 1.5 Crs (USD 276k) increased to

INR 2.17 Crs (USD 399k) in 2012. The highest price offered was approx INR 3.5Crs (USD 645k)

 E-auction was introduced based on a court ruling, after some private channels challenged the decision of

Prasar Bharati last year to remove them without assigning valid and acceptable reasons.

 Star Utsav, Sahara One and Zee Smile are the only Major GEC channels available on DD Direct

FX rate USD 1= INR 54.265

- Confidential - 15 Rural Population is 2/3rd of total population as per Census of India 2011………

 Urban Unit (or Town) :- All places with a municipality, corporation, cantonment board or notified town area committee, etc. (known as Statutory Town)  All other places which satisfied the following criteria (known as Census Town): o A minimum population of 5,000; o At least 75 per cent of the male main workers engaged in non-agricultural pursuits; and o A density of population of at least 400 per sq. km  Rural Area : All areas which are not categorized as Urban area are considered as Rural Area - Confidential - 16 TAM currently only covers Urban areas

 As per “TRAI Consultation Paper on Guideline/Accreditation Mechanism for Television Rating Agencies in India” currently TAM Media Research covers only Urban Market and do not cover Rural India yet

 As per The Amit Mitra Committee, constituted by the MIB to review the existing Television Rating System in India, Sample size should be increased by almost 4 times from 8000HH to 30,000HH in next 5 years.

 A majority of this additional boxes should be in rural India (2/3rd of TAM boxes)

 Majority of rural population may opt for DD Direct Plus since it is free for life time

If the recommendations are implemented, 2/3 rd of the TAM boxes will be installed in Rural areas. This could be a game changer for channel ratings. SET could stand to lose further ground.

- Confidential - 17 Need for an FTA Channel

 Channel can be placed in the FTA pack of MSOs, along with DD Direct and other DTH operators

 Will have the best of the archival SET and SAB shows; and possibly licensed top content from other GECs; also, may have classic Hindi Movies

 Will help in the brand building for Sony in the Rural markets and in future those viewers may switch to SET Channel when they are opting for a Pay channel

 Dish TV is targeting the DD Subscribers:

― Launched a product “Dish Freedom Card” that allows users of DD Direct to enjoy all DD Direct Plus channels and an additional 16 Dish Channels by paying INR 990 (USD 18) for card and free connection for year.

― Further annual renewals are for INR 450 (USD 8.3) for 12 months.

― An attractive proposition for DD Direct Plus subscribers

― Opportunity for MSM’s FTA channel to build brand presence and reach through this and also opens up the possibility of these subscribers migrating to the other network channels

FX rate USD 1= INR 54.265

- Confidential - 18 Star Utsav is able to grow by using old STAR Content

30% Ratings Reach% Episode Episode No. Time Programme Name No. on Star Plus 50 7/5/2013 7/5/2013 07:30 PM Ek Hazaaron Mein Meri Behnaa Hai 121 424 08:00 PM Mann Kee Awaaz Pratigya 717 Old show 20% 20% 08:30 PM Yeh Rishta Kya Kehlata Hai 670 1152 15% 09:00 PM Ek Doosre Se Karte Hai Pyaar Hum 100 Old show 15% 09:30 PM 594 807 GRPs 25 10:00 PM Diya Aur Bati Hum 297 452 53 10% 10:30 PM Ruk Jaana Nahi 55 Old show 37 11:00 PM Saath Nibhaana Saathiya 594 807 29 11:30 PM Diya Aur Bati Hum 297 452

0 0% CY11 CY12 CY13

Star Utsav Time has shown a good growth over the past years both in terms of Ratings and Reach. Time Spent is also increased from 58 min. in CY10 to 79 min. in CY13. * Episode numbers from whatsonindia.com - Confidential - 19 Male Focused Hindi-action Channel

- Confidential - 20 The average male doesn’t have specific programming..

• Channel for the 15+ Males, SEC CDE in the HSM Markets

• Content would be a mix of Original Programming (Action, Thriller, Infotainment) and Movies

• Male audiences don’t have content focused towards them- This would be a channel for them to have their daily dose of entertainment

• Sports & News command higher ERs for reaching out to this audience

• Create a platform for Advertisers to reach out to the Male audience outside the traditional News/ Sports genre and charge a premium for this

Create a new GEC channel targeted to the Hindi speaking males

- Confidential - 21 Who is watching TV amongst males?

• Amongst Males, various age groups and SEC audiences prefer particular content genres • These male TG’s are indexed to the Males 4+ ratings to arrive at the ratings index • TG with an index greater than 100 show a higher skew towards the channels compared to other TG • Following is a table of with list of Strong Male skew channel genres as mentioned earlier (along with Hindi GEC) • The average weekly GRP in Males 4+ is also indicated next to the genre name to give an indication of the market size • For instance – “Hindi GEC which is 1057 GRP genre is more skewed towards Males in 15-24 yr & 45+ yr , SEC ABC”

Avg Wkly GRP Males Males Males Males Males Males Males Males Males Males Channel (Males 4+) 4-14 yr 15-24 yr 25-34 yr 35-44 yr 45-54 yr 55+ yr SEC A SEC B SEC C SEC DE Hindi GEC 1057 99 100 95 97 104 110 101 100 101 98 Hindi Movies 612 88 120 114 93 92 77 77 85 102 124 Kids 287 279 42 46 59 26 38 99 99 96 104 Hindi News 155 47 89 99 121 155 166 138 112 89 75 Sports 97 69 120 104 97 106 119 124 115 89 82 Infotainment 58 95 119 100 87 98 88 116 105 96 89 English Movies 32 52 141 131 84 95 82 140 103 81 82 Hindi Biz News 6 23 55 140 158 188 137 195 147 50 41 North Region News 5 38 81 110 152 246 293 232 154 84 53 Eng News 5 21 96 135 99 142 164 245 93 58 18 Eng Ent 3 53 156 173 76 112 133 219 118 96 60 Eng Biz News 2 7 83 186 240 195Source: 210 TAM, Jan 358 to Dec ’12; 200 TG – CS Males43 4+; HSM 4 - Confidential - 22 Challenges for Male Action

• Fear of cannibalization for both MAX & SET – SEC C/D/E male audiences are already consuming GEC & Movies

– Top shows of SET - CID, Crime Patrol and are popular amongst males too. A new channel may fragment the audience base, and reduce time spent on the channel

– With a majority of single TV households, which are being watched by women, SET’s daily soap ratings may also fall, if the male takes control of the remote

– If movies are shown on the channel, MAX ratings may also fall.

 Advertiser ERs from C/D/E audiences would be lower, show cost for producing male action oriented programs would be higher than regular soaps.

 Cost benefit analysis of Carriage Cost v/s subscriber revenues from these markets needs to be evaluated

- Confidential - 23 Mobile TV Channel

- Confidential - 24 Mobile will be the main mode of internet access, but we need cheaper data plans, better phones at lower costs, and content in Indian languages*

 Currently 50 Mn smartphones in India

 China: share of smartphones in total phone shipments rocketed from 9% to 59% in two years.

 Brazil and Russia, where the corresponding number surged to 32% and 46%, respectively, in the same period.

 Entry level phones at INR 4,000/- (USD 73)

 Google expected to launch a USD 50 (INR 2700 phone)

FX rate USD 1= INR 54.265

- Confidential - 25 We are expecting an exponential rise in video consumption on mobile… # of Indian Mobile Internet users

70 60 48 35 35 24 26 Milliions 10 12 2 0 2009 2010 2011 2012

Claimed Users (mn) Active Users (mn)

 895 Mn Telco Subscribers of which 865 are Wireless

 700 mn unique mobile users of which 50mn are internet users . 500+ mn mobile data users by 2015

 2nd largest internet market by 2015 crossing 300 mn users

 Reliance due to launch 4G services in the last quarter of this year. Formal launch expected in Dec 2013.

With the availability of high speed 4G services along with smartphone penetration video consumption is

expected to rise - Confidential - 26 A Linear Channel Exclusively for “People on the Go”

• MSM to launch a linear Streaming Channel available exclusively on the digital platforms • A channel targeted to the youth of today • A mix of original and existing programming : ―Short Form Content (15 Mins)

―Comedy

― Gossip

―Entertainment

―Game shows/Trivia

 SET & SAB are already available on the following Mobile TV platforms:

―Apalya (SET)

―Ditto (SET, SAB & MIX)

―NexG TV (SET, SAB & MIX)

―Zenga (SET, SAB & MIX)- to be signed

- Confidential - 27 Apalya Subscriber Base

SAB TV Subscribers dropped when it was moved from the all channel pack to individual subscription

- Confidential - 28 Challenges for Mobile TV

• The Consumer mindset does not favor paying for both content & data • Data charges is currently a big deterrent for consumers. Bundling of data with content access will be critical. • 3G services have not seen the uptake that was anticipated • Limited Revenues currently: cumulative MG revenues from all platforms put together is ~ INR 3.2 Crs.(USD 590k) • People know SET, Sab, MIX, etc, ie. there is power in the brand… which is why people are consuming it on mobile • NexGTV has launched such content, but hardly any consumption. Stand alone, you will have to spend Crs to popularise the content and then licensing cost. • Key Learning’s from existing partnerships: – Individual Channel subscriptions have seen limited subscriptions – Choice of multiple channels packaged into one pack may work better

FX rate USD 1= INR 54.265

- Confidential - 29 Backup Slides

- Confidential - 30 Position of channels

Ratings contribution from LC1,SEC C&DE and female for Star and Zee are higher compared to others

Avg. LC1 Share Avg. SEC C& D/E Share Avg. Female Share

60% 59% 60% 59% 61% 55% 56% 56% 56% 52% 51% 50% 47% 46%

31% 25% 22% 16% 17% 17% 19% Avg in share GRP 16% SET SAB STAR Plus Colors Zee TV Life OK

Digital vs Analog GRP for Channels; Majority of Star Utsav ratings are coming from Digital which will further increase in future due to digitisation

282 Digital Analog 245 260 238 210 178 191 181 210 161 160 123 137 124 139 107 GRP 110 60 10 10 SET SAB STAR Plus Colors Zee TV Life OK Star Utsav *CS4+. Wk 1 to 15 2013 - Confidential - 31 In the LC1 markets, Digital Reach for FTA Channels are much better than pay channel 9XMSony MIX Star Utsav Star Plus Row Labels Wk 14 Wk 15 Wk 14 Wk 15 Wk 14 Wk 15 Wk 14 Wk 15 *AHMEDABAD 27 26 16 16 43 36 64 60 *CALCUTTA 16 15 15 15 17 18 33 33 *DELHI 21 21 20 19 25 26 68 68 *MUMBAI 27 27 25 24 17 18 58 56 *PUNE 25 27 18 19 27 17 49 46 ASSAM .5MN.+ 17 19 5 15 6 3 46 54 1MN.+ 22 20 23 7 27 30 75 50 CHATTISGARH .1 TO 1M 32 33 19 18 44 43 46 41 GUJ .1 TO 1 MN. 39 45 21 21 32 34 60 60 GUJ 1 MN.+ (INCLUDIN 31 31 19 20 37 36 69 65 GUJ L C I(WEF 30TH D 34 32 9 12 42 34 33 30 .5MN.+(WEF 28 20 12 13 30 14 43 49 MAH .1 TO 1 MN. 33 34 16 16 31 28 48 47 MAHA L C I 23 21 15 18 26 24 48 39 MAHREST 1 MN.+ (INCL 24 25 17 17 26 19 52 48 MP .1 TO 1 MN. 9 15 8 13 50 39 50 52 MP 1 MN.+ 21 25 23 28 33 37 57 53 MP L C I(WEF 30TH DE 19 22 12 13 52 44 44 48 ORISSA .1 TO 1 MN. 23 18 14 12 13 9 42 45 PCHP .1 TO 1 MN. 14 16 11 11 25 29 61 61 PHCHP .1 TO 1MN. (IN 17 17 9 10 25 25 64 61 PHCHP 1 MN.+ (INCLUD 11 12 14 15 18 20 69 68 PHCHP L C I(WEF 30TH 56 36 6 8 60 39 43 42 PUNJAB 1MN.+ 8 11 13 17 18 16 70 67 RAJ L C I(WEF 30TH D 23 26 13 10 42 45 39 47 RAJASTHAN .1 TO 1 MN 25 42 4 7 46 45 48 43 RAJASTHAN 1 MN+ 20 20 14 15 41 37 59 68 HSM 23 24 17 17 28 27 54 53 UP .1 TO 1 MN. 36 27 20 17 41 34 63 60 UP 1 MN.+ 18 14 23 20 42 23 79 70 UP L C I(WEF 30TH DE 22 29 8 6 43 48 41 37 WBREST 1 MN.+ 32 34 24 17 26 31 42 58 - Confidential - 32