CANNES, France, Oct. 8, 2015 /PRNewswire/ -- Videocon d2h Limited (NASDAQ:VDTH) ("Videocon d2h"), India's fastest growing DTH service and most valued Indian company on NASDAQ was honored with the Pay TV Service of the Year award at this year's MIPCOM, the global television market and festival.
Joining top delegates from the worldwide television, content production and distribution and media technology industries at the Carlton Beach hotel in Cannes this evening, Videocon d2h was recognized for achievements during the inaugural Content Innovation Awards celebration, organized by Digital TV Europe and its sister trade publication TBI.
Saurabh Dhoot, Executive Chairman, Videocon d2h, said: "As the fastest growing Pay-TV operator in India and the DTH market leader for the fourth consecutive year in terms of incremental market share. Videocon d2h has worked hard for its success in what can only be described as a strongly competitive marketplace. Our focus of providing superior customer service for each and every single one of our 14 million gross subscribers has served as the foundation for several milestone accomplishments for Videocon d2h, including adding 2.64 million subscribers, growing subscription revenues by 38.3% during this past fiscal year."
"2015 has certainly been a banner year for Videocon d2h," added Anil Khera, CEO, Videocon d2h. "We started the year with the launch of India's first 4K Ultra HD channel in January, became the most valued Indian company to be listed on NASDAQ with our successful IPO with a market cap of US$1.24 billion as of June 30, 2015. Being honored with Pay TV Service of the year award is a celebration of our customer delight approach."
Accepting the award, Rohit Jain, Deputy CEO at Videocon d2h said: "Being named Pay TV Service of the Year, especially from a global field of innovative businesses, is truly the icing on the cake."
Digital TV Europe and TBI's inaugural Content Innovation Awards celebrate achievements across a wide range of categories – including Channel of the Year, Multiscreen TV, Social TV, Video-on-Demand, MCNs, Best New Channel Launch, Best Series Launch, Technology Innovation and Pay TV Service of the Year, among others.
The Pay TV Service of the Year award, sponsored by ARRIS Group, recognizes the formerly straightforward business of aggregating content and selling it for a monthly fee, which is now a multifaceted business spanning content creation, linear channels, on-demand services, interactive content, OTT and TV Everywhere, all delivered via a user experience that is compelling enough to incentivize viewers to continue subscriptions.
About Videocon d2h
Led by key management including Executive Chairman Saurabh Dhoot, who founded and launched the company with a US$600 million investment, Videocon d2h launched in 2009 and within a year had 1 million subscribers. Currently it has 14 million subscribers. The longevity and stability of its leadership is personified by CEO Anil Khera, who has been with the Videocon group for 30 years.
Videocon d2h boasts the largest distribution network with over 200,000 retail outlets across India serving new customers and providing convenient recharges; and the company's commitment to 100% customer satisfaction ensures that it is the only operator in India with an exclusive service network allowing for approximately 97% of the Company's new subscribers to have set top boxes installed on the same day that service is requested. These efforts have earned Videocon d2h recognition as Asia's most promising DTH brand for year 2013 & 2014 and earned Economic Times' Best Brands & Promising Brand awards for 2014 and 2015 respectively. Constantly redefining the TV viewing experience– launching India's first 4K Ultra HD Channel in January of this year, providing wireless DTH headphones and radio frequency DTH remote–Videocon d2h is committed to maintaining its position as the preferred pay TV service provider in the highly competitive DTH industry.
With India's strong economic growth outlook, Videocon d2h believes Average Revenue Per User (ARPU), TV penetration and increased HD uptake will lead to stronger revenue growth for Pay TV in general. Videocon d2h strives to take industry standards higher through its commitment to providing customers with superior services and innovative technology that brings the best of entertainment to consumers.
This announcement may contain forward-looking statements, as defined in the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. In addition to statements which are forward-looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forward-looking statements. We caution you that reliance on any forward-looking statement involves risks and uncertainties that might cause actual results to differ materially from those expressed or implied by such statements. These and other factors are more fully discussed in the Videocon d2h's annual report on Form 20-F filed with the SEC and available at http://www.sec.gov. All information provided in this announcement is as of the date hereof, unless the context otherwise requires. Other than as required by law, Videocon d2h does not undertake to update any forward-looking statements or other information in this announcement.
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SOURCE Videocon d2h Limited