By far, India is the fastest growing Pay-TV market in the world. There will be some great media companies created in India over the next few years. But for now, one company, Videocon d2h, is taking the market by storm.
Launched in 2009, Videocon d2h is the fastest growing satellite Pay-TV service provider in India. In the U.S., the company is comparable to DirecTV or DISH. In their homeland, Videocon d2h is responsible for bringing many “firsts” to the Indian DTH industry. This includes the launch of the country’s first 4K Ultra HD Channel, the fastest and most advanced Digital Video Recorder and wireless DTH headphones.
This is in addition to providing more than 500 TV channels and services to its 13 million subscriber base.
In April of 2015, Videocon d2h shook the India Pay-TV world again. Under the PR guidance of Priority PR, Videocon d2h successfully filed an IPO on NASDAQ and began trading under the symbol of “VDTH.”
Adding to its growing lists of accomplishments, Videocon d2h became the most valued Indian company on NASDAQ with a market cap of $1.15 billion. It became the first Indian private company since the year 2000 to list overseas and it was the largest Indian IPO in the US since 2007.
Videocon d2h completed its offering with a substantial investment from Silver Eagle Acquisition Corp., founded by media investors Harry Sloan and Jeff Sagansky. Silver Eagle raised $325 million from major US hedge funds and investment companies, which paved the way for the IPO listing with Sloan and Sagansky joining the Videocon d2h board of directors.
“We are so pleased and excited to have such highly regarded and experienced media executives and entrepreneurs joining our board and guiding our continued growth and success in the future,” said Saurabh Dhoot, the Executive Chairman of Videocon d2h, at the bell ringing ceremony held at the New York Stock Exchange building on April 7, 2015.
After announcing the closing of the deal, Priority PR continued to utilize its strong financial press connections to push the story from New York to New Delhi. This included booking appearances for the Videocon d2h executive team on CNN International, The Deal (video blog) and CNBC in India, among others.
The bell ringing ceremony was a time for celebration but also marked a new chapter for Videocon d2h. The new funding was used to pay down debt and to invest in new services for consumers. In India, there’s 148 million pay TV subscribers and there’s still 100 million homes in the country that have yet to buy their first TV. That statistic alone signals years of growth ahead.
India is a media market where there are 6 providers of satellite TV services and Videocon d2h was the last one in. What might have been perceived as its greatest weakness ended up as the company’s biggest strength. The company quickly built up its subscriber base with the most technically-efficient platform.
Today, Videocon d2h has the most bandwidth and is able to offer the most channels than its competitors. That’s an important point since there are nine different languages in India and the DTH service is in a position to offer a variety of different channels for the language groups.
Get ready for more from Videocon d2h. There isn’t another media company in the U.S. that is poised for growth like Videocon d2h. If you look at the company’s performance for the last 12 months ending on March 31, 2015 Videocon d2h grew revenues by 35% and EBITDA increased by 50%.
The IMF states that in the next five years, India will be the fastest growing economy in the world and the Modi government is encouraging foreign investment. Those two developments make India very unique.
As Saurabh Dhoot remarked at the bell ringing ceremony: “In the land of opportunities… a small step and a big leap for Indian media. A small bell and yet a big opportunity for us.”
Priority PR was charged with providing PR guidance for the company in the global TV business. To date, Priority PR secured profiles of the company in Variety, C21 Media and Multichannel News and secured an opportunity for Videocon d2h to be named Pay TV Operator of the Year at MIPCOM 2015.