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UTV to aggressively invest in gaming vertical

UTV to aggressively invest in gaming vertical
PTI
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First Published: Fri, Sep 04 2009. 07 21 PM IST
Updated: Fri, Sep 04 2009. 07 21 PM IST
Mumbai: UTV Software Communications on Friday said it would remain committed to aggressively invest in vertical gaming, hoping it will significantly contribute to its revenue in the coming years.
“UTV continues to remain committed to aggressive investment in gaming, given that we expect it to become a significant revenue and contribution generator in the coming years,” company chairman and managing director Ronnie Screwala, said in the company’s annual report.
However, he did not indicate on the investment quantum.
UTV has controlling stake in three gaming companies—True Games, Ignition and Indiagames. Cumulatively, the vertical registered Rs100 crore revenue last fiscal, up by 45% over the 2007-08 fiscal.
UTV had recorded Rs606 crore consolidated revenue in the last fiscal.
The company also intends to continue investment in its broadcasting vertical, which had recorded Rs88.7 crore to its total revenue.
UTV’s portfolio of broadcasting channels include UTV World Movies, UTV Movies, UTV Bindass and Bindass Movies.
“In 2009-10, with four entertainment channels, broadcasting will continue to be in the investment mode,” Screwala said, adding, with strategic focus on content, marketing and distribution, the vertical was poised to contribute substantially to the company’s revenue targets in the coming years.
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First Published: Fri, Sep 04 2009. 07 21 PM IST