Subhash Chandra articulates Siti’s strategic agenda in new business landscape
MUMBAI: Essel Group chairman and Siti Networks chief patron Subhash Chandra has said that the large-scale digitisation and over-the-top (OTT) revolution has changed not only the consumer aspirations but also the way the industry looks at content and the multitude of ancillary services it provides to the evolving consumers.
He further stated that Siti Networks has successfully developed the perfect portfolio of offerings to deliver consumer delight while ensuring targeted, on-track business growth. “In my opinion, the current impact of digitisation and OTT on the industry is just the beginning,” he has been quoted as saying in the company’s annual report.
Chandra noted that Siti’s strategic agenda in the new business landscape will be structured not just to the consumer needs for today but for the foreseeable future. This will necessitate an even bigger focus across every facet of the business value chain.
“From content to consumption patterns and delivery systems, we see a wave of game-changing innovations ushering in new opportunities for major players like Siti,” he added.
He also sees Siti playing a vital role in shaping the contours of the industry’s future, not just by providing a more experiential ambience to the consumers and other players in the value chain but to the society at large.
“As a responsible industry player, we have always been at the helm of the social transformation that India needs if it is to sustain and grow its progressive momentum. We are now extending this growth charter to a larger population through more impactful social interventions and investments to enable sustainable and holistic development,” he stated.
Chandra said that the new tariff order (NTO) was one of the best things that could have happened to the industry. “The NTO has plugged a major gap in the industry and will strengthen the business environment. The Local Cable Operators (LCOs), Multi-System operator (MSOs) and broadcasters will definitely benefit in the new regime, which we welcome as a progressive step in the industry’s journey.”
Siti, he said, has been building the foundations of this transition for the past two years. He also pointed out the strong growth posted by the MSO in FY19.
“Harnessing the wave of opportunity unleashed by NTO, Siti went forward aggressively to translate it into excellent growth, as underlined by the two-fold increase in EBIDTA (excluding activation). The 19% increase posted by SITI in subscription revenue, which went up to Rs9,537 million in FY 2019 from Rs 7,997 million in FY 2018, further manifested the inherent strength of our business eco-system and our strategic roadmap,” Chandra said.
This growth, he said, is aligned to the realisation of our vision to be the preferred choice of consumers, as well as to the evolving media-scape, which has witnessed unprecedented change and expansion in recent years.