Walt Disney Company to restructure digital assets

New Delhi: The Walt Disney Company India today said it will restructure its digital assets under ‘DisneyUTV Digital’ to drive growth in segments like mobile, online and interactive TV. “The new division — DisneyUTV Digital — will combine the businesses and talent from Disney, UTV and Indiagames. All content and brands from Disney, Marvel, UTV, bindass, as well as original content and games, will now be developed and managed by DisneyUTV Digital,” The Walt Disney Company India today said in a statement. The division will be spearheaded by Vishal Gondal as Managing Director. [caption id=“attachment_402602” align=“alignleft” width=“380”]  Reuters[/caption] Samir Bangara, who would also be Managing Director of the division, will work with Gondal in collaboration to drive DisneyUTV’s future growth, the statement said. Gondal and Bangara built Indiagames into one of India’s major gaming companies with close to 50 per cent market share. The DisneyUTV Digital team will manage all mobile, video, audio, broadband, ITV, games and online initiatives, with a combined audience reach of over 300 million in India, it said. Previous offerings from the Disney and UTV teams in India include Audio Cinema, Divya Kathayein, Digital Studio, Sponsored Tweets as well as mobile games like Aladdin, DLF IPL Cricket, Cricket Fever, Ra.One Genesis and Club Penguin. Digital media in the country is evolving rapidly with mobile leading the way. India has the world’s third largest mobile Internet user base with over 121 million users (of whom 59 percent are monthly active users) as of December 2011 in addition to the 85 million PCs and growing number of tablets. With the launch of 3G and onset of 4G services, digital consumption of entertainment is exhibiting strong growth with new monetisation models emerging. In July last year, UTV Software had announced that Walt Disney Co has offered to buy out stakes held by public shareholders and other promoters of the company in a deal valued around Rs 2,000 crore. Subsequently, in December, 2011, the Cabinet Committee on Economic Affairs (CCEA) approved the deal. As of December 31, 2011, the promoter and promoter group shareholding in UTV stood at 70.04 per cent, including 50.28 percent owned by Walt Disney Company (South East Asia) Pte Ltd. PTI