New Delhi, May 26 (UNI) After making a mark in films and television, UTV Software Communications Ltd is all set to make its foray into the digital Internet media space with an investment of Rs 120 crores.
UTV New Media, the digital media arm of UTV Software Communications Ltd, today announced its foray into the digital media space that includes mobile, online, iptv, with acquiring a controlling stake of 76 per cent for a consideration of Rs 15 crores in 'IT Nation', India's leading online infomediary that focuses on technology markets covering enterprises, technology resellers, and general consumers.
UTV New Media envisages investment of around Rs 120 crores over the next two years into a combination of the internet space with a portfolio of 10 portals targeted at specific need gaps in the internet space.
In the digital music space '' with acquisition of over 20,000 music titles including 'Jodhaa Akbar' and upcoming Akshay Kumar "Singh is King", in the online technology space with IT Nation and in the online business space with UTVi.com the business website for the recently launched UTVi Business Channel, UTV sources said.
''Our objective is to create a digital entity covering the domains of business, finance, entertainment- TV, films, music, gadgets and technology. This we plan to do in a device agnostic manner. That is wherever the user has a device to access, we will have content to deliver,'' CEO, UTV New Media, TN Prabhu said.
In the Digital Music space, it launched with the blockbuster 'Jodhaa Akbar' followed by "Singh is King", to be released in August 2008 worldwide.
UTV New Media has launched with a catalogue of 20,000 titles that include Bollywood and Regional (Punjabi, Tamil, Telegu movies) available under its short code 59995. The intention is to create digital assets such as images, music, ring tones and videos for these catalogues.
Also in place are relationships and arrangements with 65 mobile operators across the world to distribute the mobile content.
UTV New Media's Internet space consists a portfolio of 10 websites across Business (with utvi), Technology (Channeltimes.com, CXOtoday.com, Enterpriser.in, Techtree.com) adding a unique synergy to UTV's existing web portfolio entertainment (with UTV Motion Pictures, Bindass, Bindass Movies, World Movies, UTV Movies the most powerful combo).
On the Technology front, UTV New Media has acquired IT Nation India's leading online infomediary that focuses on technology markets covering enterprises, technology resellers, and general consumers.
With close to a decade of experience in technology IT Nations also provides effective information- exchange platforms to vendors and users by organising nationwide technology events. This also offers tremendous synergy with the UTV Business news channel.
In the online business space, UTV New Media recently launched utvi.com the business website for their English business news channel. The focus of the site is interactivity through blogs which are by invitation, readers can interact with the editor through through the blog.
The site is beyond stock market news and focuses on other areas such as lifestyle since the sites like the channel targets the young guns of corporate world.
Taking UTV group synergies, popular IT Nation consumer site techtree has an on air show called the 'The TechTree' on UTVi, the English business news channel from the group. The show is consumer gadget portfolio guide that features the latest gadgets, games, websites, downloads and all the tips and tricks that help you get the most out of your gadgets.
UTV's foray into digital internet and mobile space is a part of its strategy to target the youth of the country.
''Youth has always been at the core of all UTV's business- films, bouquet of channels, content production, and gaming. Today's youth is looking beyond the two conventional screens television and celluloid at the two screens rapidly increasing in popularity the personal computer and the mobile handset. The latter are the platforms where the new generation is spending most of its leisure time.
These platforms have pioneered a variety of interactive solutions, with customised content and pricing for consumers. The mobile subscriber base, on the other hand, has witnessed explosive growth of over 90 per cent CAGR in the last five years to reach nearly 234 million subscribers in 2007,''company sources said.
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