HSBC report is probably the most well researched report on TV18 that has ever come out from brokerage houses. Key takeaways -

- Ad revenues to grow at 27% CAGR for FY07E - FY10E.

- CAS, if implented on time as assumed by HSBC, would result in subscription revenue to grow by 69% for FY07E - FY10E.

- Web 18 has a number of properties. But eventually, they will have one single portal offering travel, jobs, finance etc. I believe this is very crucial for the future valuation of Web 18. Having one single portal will drastically reduce marketing costs and quickly ramp up the number of visitors to Web18.

- NDTV Profit is losing marketshare to CNBC TV-18/Awaaz. Viewership has dropped from 27% to 19%.

- HSBC has gone a bit ahead in time and is estimating revenues of Rs. 1,650 crores and net profit of Rs. 520 crores for Web 18 in FY18!

- For the entire TV18 group, it is estimating revenues of Rs. 760 crores and net profit of Rs. 231 crores for FY10.

There are also interesting snippets of information that might affect the other stocks that we track - Pantaloon and Dish TV.

Future Group plans to spend about Rs. 200 crores on advertising in FY08E

We expect large players with financial muscle, such as Reliance, to price set top boxes at a very steep discount in the future. We expect viewers to convert from the analogue cable system, without any government mandate on conversion, as DTH should offer better transmission quality and interactive features. We estimate 35m DTH subscribers by FY12E

Edited by smartcat - 06/Jul/2007 at 3:38pm

ALso they use that same newspaper analogy stating that buisness newspapers costs Rs 60 and CNBCTv18 can easily get Rs 10 per month. We have for over the last one year used this newspaper example on this forum to state the pricing power of Tv18!!

TED is quite ahead of analysts

Yes, TED is ahead for sure on many aspects, compared to many analysts if not all.