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BIG CBS eyes break-even by FY13

BIG CBS eyes break-even by FY13
PTI
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First Published: Mon, Nov 29 2010. 04 28 PM IST
Updated: Mon, Nov 29 2010. 04 28 PM IST
Mumbai: Anil Ambani-led Reliance Broadcast Network Limited (RBNL’s) broadcast business, BIG CBS, is eyeing break-even by FY13 and targeting a Rs325-crore revenue from the same over the next 5-years even as it plans to enter into a couple of new broadcast rights with Universal Studios and Disney, a top company official said
BIG CBS is a joint venture between RBNL and US-based CBS Studios.
The growth will be driven by the company’s air-time sales strategy. BIG CBS plans to tap the luxury brands for the air-time slots and luxury brands advertising will form a critical volume on the channels.
The Indian luxury market is currently pegged at around $14-billion and is expected to reach $30-billion by 2015, with the advertising growing by 43% over the last 4-year.
“We are eyeing break-even by FY13. We are targeting a healthy 40% growth in our new businesses, including BIG CBS, to grow by 40% QoQ. Besides, the luxury market is also growing rapidly and is expected to reach $30-billion by 2015,” the official told PTI under strict condition of anonymity.
The company that got listed in December last year, has posted a revenue of Rs110.5 crore in the first half of FY11 from its businesses such as radio, out-of-home, experiential marketing and digital and expects a healthy jump in its revenue from its BIG CBS joint venture once the channels go on air.
The official also said the company has already signed broadcast deals with Sony Pictures Television and NBC Universal Libraries and plans to ink two more deals with Universal Studios and Disney for acquiring a library of Hollywood films for its weekend movie programming.
The company is looking at closing the deals in the next two-month, he said.
When contacted by the news agency, RBNL CEO Tarun Katial declined to comment on the revenue figures as well as the deals.
“We cannot comment on the revenue figures. Our first channel BIG CBS Prime is going on air from today. The launch is the first step towards addressing the current need-gaps of Indian viewers for fresh international programming.
English programming is highly under developed due to the time lag of nine months in premieres of shows between the US and India. With our exclusive range of programming-mix, BIG CBS is uniquely poised to grow the size of the market,” Katial said.
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First Published: Mon, Nov 29 2010. 04 28 PM IST