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ZEEL to transfer Ditto TV, digital properties to subsidiary
MUMBAI: Aiming to monetise digital revenues across platforms, Subhash Chandra-promoted Zee Entertainment Enterprises Ltd (ZEEL) is transferring its OTT video service Ditto TV to a wholly owned subsidiary.
The board of ZEEL, at its meeting held yesterday, approved the transfer of the Ditto TV business to the subsidiary under a business transfer agreement on a net asset value (NAV) effective 1 June 2015.
The subsidiary, which will also handle all the digital properties (websites, apps, etc.) of the group, will be responsible for monetising digital revenues across platforms and geographies.
A ZEEL official said that Ditto TV has close to 15 million subscribers, out of which one million are paid subscribers. He added that these include largely domestic subscribers, who pay around Rs 40 per month per subscriber.
Taking into account the current paid subscriber base and the monthly payout, Ditto will earn Rs 48 crore (Rs 480 million) a year.
“We do not believe that we have to give away premium content for free,” he added.
Unlike Star India’s Hotstar, which has content only from its own company, Ditto TV is company-agnostic and delivers live TV, video on demand, music, news and more on multiple screens including mobile phones, tablet, desktops, laptops and other handheld devices.
Ditto TV hosts 117 channels, according to its website. These include channels from Viacom18, TV18, Multi Screen Media, ZEEL, Times Network, Taj TV, TV Today Network, BBC, Doordarshan, Sri Adhikari Brothers, ETV and Raj TV. The Star channels are not available on Ditto TV.
Launched in February 2012, Ditto TV is India’s first over-the-top (OTT) video distribution platform offering live TV and on demand content to end consumers on their mobile phones, tablets, laptops, desktops, entertainment boxes and connected TVs.
It has access to the largest collection of premium content, spread across leading content genres like GEC, Sports, Lifestyle, Regional and News, along with rich on-demand video capabilities,
Along with its India launch, Ditto TV is available across the globe in all international markets like the US, UK, UAE, New Zealand and Australia.
Ditto TV offers features such as an elaborative electronic programme guide, a content recommendation engine, an elegant user interface, multicurrency payment option and free cash-on-delivery service, all of which will be integral to enhancing the user experience.
Ditto TV claims that its technology ensures quality viewing that is adapted to suit a range of internet speeds to deliver an optimised viewing experience.