I am pleased to share your Company 's performance for the Financial Year 2015-16 withyou. Since the transfer of ownership to Independent Media Trust (IMT) in 2014 wecontinued to synergise the immense potential of Network18 's valuable network of brandswith our strong network of subsidiaries and strategic joint ventures. Our mission andapproach is to bring together information entertainment and experiences to our audiencesin a manner that delights them consistently. Towards this end we are embarking on astrategic realignment of the business and ensuring that we remain ahead of and abreastwith emerging dynamics in our operating environment.
The year 2015 proved to be a pivotal year for the media and entertainment (M&E)industry. We witnessed a plethora of far-reaching changes such as rollout of 4G servicesand growth of OTT (Over The Top) which have increased the relevance and demand forsmartphones and tablets. The M&E industry is being driven by technological innovationand faster internet speeds as its enablers. Rapid digitisation enhanced internetpenetration and 4G ramp up has moved content viewing beyond television to mobile phonesand handheld devices. Moreover the country is witnessing an extremely high mobilepenetration which has given a boost to the app ecosystem. The introduction of BARCratings is also of seminal importance to the future of the industry.
Audience needs and aspirations are guiding the overall growth of the industry. There isan increased focus on creation of customer targeted localised content. Local languageusers continue to increase at a fast rate as a result of increased internet penetrationand easier access to technology leading to a significant growth in demand for regionalcontent.
We at Network18 have aligned our strategy to be able to harness the opportunities ofthe connected social and digital world.
TO CONTINUE TO REMAIN RELEVANT TO OUR DIGITAL- SAVVY CUSTOMERS
WE REINFORCED OUR DIGITAL-FIRST STRATEGY. OUR EFFORTS HAVE BEEN VISIBLE AS OUR NEWMONEYCONTROL APP WITNESSED 32% IMPROVEMENT IN ENGAGEMENT
Well-diversified to create experiences
Our offerings span the media and entertainment universe. Our multi-platform portfolioof TV channels digital offerings and print publications helps us in keeping our audiencewell engrossed and thoroughly engaged. We provide a holistic experience to our customersand our endeavour is to provide them content that can be accessed across devicesirrespective of location. Our presence is spread well to ensure that nature of informationneeded customer location and time are no barriers to access content. Our range of brandsand products are created such that we can cater to the myriad needs of various audiencescovering all genres age groups and geographies.
Tapping opportunities with adaptability
Today customers have become digitally stronger and there is an increase in demand fornon-linear media. We have been a customer-led organisation and have always fried to blendconsumer insight info our strategy. In order to proactively tap the opportunity the newage digital-savvy customers offer we launched VOOT in March 2016- an exclusive digitalvideo on demand OTT platform.
To continue to remain relevant to our digital-savvy customers we reinforced ourdigital-first strategy. Our efforts have been
visible as Moneyconfrol App witnessed 32% improvement in engagement post the launch ofthe new app. We continued to launch new apps and revamped several existing ones acrossvarious segments this year.
In order to capture the demand held by regional customers across geographies were-emphasised on our regional focus and launched channels customised to hyperlocal needsand demands. We expanded our bouquet of regional news channels with the launch of ETV NewsOdia. News18.com has also been rebranded to Pradesh18and is now available in EnglishHindi Urdu Gujarati and Bengali.
We continued to work towards enhancing our efficiency by implementing majorinitiatives. We technologically upgraded all ETV regional news channels to produce betterquality content for our viewers. We migrated News18to a new domain and transformed thewebsite in line with our operational philosophy of being customer led.
We continued to launch new shows and expanded info new geographies both in India andinternationally. We revamped and re-launched our offerings to derive the best results fromour operations. This includes revamping the morning prime time band of CNN-News18re-launch of IBN7 evening prime time revamp of IBNLive to give it a fresh look andrebranding of ETV regional entertainment channels as Colors.
We have created an operational framework that is highly adaptable to the changing needsand preferences of the customer. We believe in early adoption of technology and itsability to help in gaining advantage over our peers.
On a concluding note
I am thankful to the members of the Network18 family for persistently striving forexcellence.
WE HAVE CREATED AN OPERATIONAL FRAMEWORK THAT IS HIGHLY ADAPTABLE TO THE CHANGING NEEDSAND PREFERENCES OF THE CUSTOMER.
WE BELIEVE IN EARLY ADOPTION OF TECHNOLOGY AND ITS ABILITY TO HELP IN GAINING ADVANTAGEOVER OUR PEERS.
I would like to share my heartfelt gratitude to our Directors for their valuableguidance. I would also like to thank our stakeholders business partners and team membersfor the confidence they have reposed in our Company.
I seek your unrelenting support in our journey as we continue to leverage technologyand couple it with emerging customerfrends thereby creating a sustainable business.
With best wishes