Indian media: Near-term remains tough - Nomura

Sun TV Network

10/04/2019 05:34

** Nomura sees disruption from Indian telecom regulator's
tariffs order to impact advertising revenue, subscription growth
for Indian media names
    ** The Telecom Regulatory Authority of India (TRAI) enforced
order enables capping of prices of television channels and for
consumers to choose the television channels they subscribe to https://bit.ly/2IaCRt4
 
    ** Nomura sees a near-term impact on media sector growth due
to implementation of the new TRAI tariff order since April 1
    ** Brokerage estimates Zee Entertainment Enterprises
 ZEE.NS  advertisement revenue growth at only about 8 pct y-o-y
in Q4, expects Sun TV  SUTV.NS  to also report similar growth
due to TRAI order and competition in Tamil language genre
    ** Nomura sees only 5 pct revenue growth for Dish TV
 DSTV.NS  in Q4
    ** Zee Entertainment remains the brokerage's preferred stock
in the sector

 (Derek.francis@tr.com)