Karan Taurani is VP – Research Analyst (Media & Consumer Discretionary) Elara Securities (India)
Media analyst Karan Taurani writes that the merger failure can negatively impact both parties due to competition from digital media and potential threat from the merger of RIL & Disney over the near term
Initial views on ZEE's desperate content strategy to gain back TV viewership share; earnings look dilutive
Some verticals such as fintech, commerce, ed-tech and EV will see a rapid shift to digital, whereas FMCG and auto may continue to rely heavily on TV for their mass campaigns
TV18 has underperformed vs industry averages, as large scale GEC content has struggled in terms of advertisement pricing growth; overall ad. revenue for FY22 remains 4% lower vs pre-COVID levels (FY19)
There was a strong recovery in sales as the business resumed normalcy, which led to an increase in overall expenses with exhibition costs and other expenses being close to pre-pandemic levels
This will lead to the multiplex industry seeing a rapid shift towards duopoly - Expect 10-12% upgrade on our TP of 2,575
Taurani talks of how the budget's focus on 'digital' will play out for the overall benefit in a big way
Karan Taurani, VP- Research Analyst (Media & Consumer Discretionary) Elara Securities shares his views on Amazon and MGM's merger agreement
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