Japan's Sony will continue to invest aggressively in India, one of its most important media and entertainment global markets, with an eye on creating compelling contents, according to a senior company official. Sony Pictures Networks India (SPNI) Managing Director and CEO Gaurav Banerjee told PTI that the company is not concerned about competition from Jio Hotstar combine but is rather looking at "working together to figure out how best to entertain India". SPNI is a part of Japanese conglomerate Sony Group Corporation that had announced to invest USD 1.575 billion while announcing the failed merger with Zee in September 2021. Despite the failure of its merger with Zee, the company is open to explore alternative routes to grow, although the current focus is on growing and strengthening existing business, he added. "It (India) is one of the most significant and important markets for Sony globally and the reason for that is simple. One is this is the largest country by population ...
Before Sony, Star India held the media rights until 2023
Consumer electronics maker Sony India's profit edged up 22.18 per cent to Rs 167 crore while revenue from operations increased 20.6 per cent to Rs 7,663.74 crore, according to financial data accessed by the business intelligence platform Tofler. Sony India, a wholly owned subsidiary of Japan's tech major Sony Corporation, logged a profit of Rs 136.67 crore in 2022-23 while its revenue from operations stood at Rs 6,353.74 crore. Its total expenses in 2023-24 were up 20.5 per cent to Rs 7,502.30 crore as against Rs 6,225.87 crore in the previous year. No comment was received from Sony India to an email seeking response on financial numbers till the filing of the story. Sony India's 'advertising promotional expenses' were up 37.6 per cent to Rs 179.02 crore in the financial year ended on March 31, 2024. Its royalty cost, paid to the Japanese parent company, was up 13.6 per cent to Rs 259.07 crore. Sony India's revenue from Consumer Audio and Visuals was up 15.7 per cent to Rs 6,300.
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Consumer electronics giant Sony India recorded a 21 per cent growth in 2023-24 and expects to continue the momentum going forward led by the trend of premiumisation in the TV and consumer electronics space, Managing Director Sunil Nayyar said on Monday. However, the company expects a moderation in the growth rates in the current fiscal, he said, adding it "may be not to the level which we have registered last year, because of the high base effect". Sony India is quite upbeat after having almost 40 per cent growth in festive sales during Onam in the southern market and expects a similar kind of double-digit growth in the rest part of the country during the festive season starting from Durga Puja. "So we are very hopeful that Diwali should be pretty strong as far as the sales is concerned. Hopefully, we are getting a growth of high double digit this time," Nayyar told PTI. The company, which is a leader in the premium television segment with around 35 per cent overall market share in
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Japanese consumer electronics giant Sony expects India to overtake home market and become the company's third largest market globally in the next couple of years with its revenue from the country reaching Rs 10,000 crore. Sony India Managing Director Sunil Nayyar said the company clocked a revenue of Rs 6,353 crore in 2022-23 in the country and is betting on the premium television segment besides its audio and imaging products to drive the growth. According to him, Sony India is also betting big on the fast growth of the gaming segment and imaging business. "We have travelled a long way. If I go 10 years back, we were quite behind the globe, but now, we are a close number four as a single country business across the globe, which means in a couple of years, maybe we can be number three and to remain in the top three in future I think should be a good position to stay as a Sony company around the globe," Nayyar told PTI in an interview. At present, the US, China and Japan are the top
Banerjee has resigned from Disney's India unit where he was the head of content for its streaming service
Sony Pictures Networks India Managing Director and CEO NP Singh on Friday said he has decided to move on but will continue to be in his current role till a successor is found. In a statement, Singh who has had a 25-year tenure at Sony Pictures Networks India (SPNI), said after nearly 44 years in his career, he is "ready to focus on social change and shift from operational roles to advisory ones". "I will continue to lead SPNI until we find the right person to take over. We have begun a structured succession planning process for my successor and hope to have exciting news to share in the near future. Finding the right fit is our top priority," Singh added. Reiterating that his commitment to SPNI and its success remains strong, Singh said, "During my time here, we have established industry benchmarks, expanded our reach, and achieved many noteworthy accomplishments." He further said, "I am dedicated to ensuring our legacy of success continues and grows under the new leadership." Son
The merger agreement between Zee Entertainment and Culver Max Entertainment (Sony's India unit) was terminated on January 22 due to issues over leadership and unmet closing conditions
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Sony Pictures Networks India is looking to boost its subscriber base and revenue through impactful content, while looking at strategic partnerships as it gears up to face a challenging fiscal year 2024-25, according to its Managing Director & CEO N P Singh. The company will be taking experiences and lessons from FY24, as stepping stones for what lies ahead, he wrote to employees in an internal newsletter. "Heading into FY25, we are gearing up for a challenging year but are ready with creative spirit and strong resolve," he said. Further, Singh said, "Our goal is sharp, to captivate audiences and boost our subscriber base and revenue through impactful content." The company is channeling investments into new shows, including on Sony LIV, he said. "Our strategy emphasises driving organic growth and ramping our market presence through strategic partnerships," he said. Reflecting on the fiscal gone by, he said FY24 "showed our true resilience and teamwork". "Tackling challenges head-
To foreign investors, the Sony-Zee saga is a reminder of the need to approach Indian deals with an abundance of caution