UTV to invest Rs 600 cr in 9 channels

Mumbai-based media company UTV Software Communications will invest Rs 600 over the next three years for launching nine television channels.

The first general entertainment channel Bindass will go on air from September 24 along with a Hindi movie channel targeted at youth. Two other Bindass brand channels would be introduced in April next year.

"We have set up a UTV network for launching a bouquet of nine channels over the next 18 months with an outlay of Rs 600 crore for over next three years," Bindass CEO Zarina Mehta told reporters.

The four Bindass channels would entail an investment of Rs 270 crore, while the company will invest Rs 320 crore in five other channels, including an English business new channel, a Hindi cinema and a world cinema channel.

The company would itself distribute all the channels targeting 80 per cent connectivity in Hindi speaking areas in next one year, Mehta said.

UTV will launch its first general entertainment channel Bindass with 'Bingo Bindass go to space contest' sponsored by ITC and apparel maker Spykar taking the winner to space as a passenger on board RocketPlane XP, a US-based commercial flight.

"We will spend Rs six crore on the entire marketing of the contest which includes Rs 1.5 crore ticket to space," Mehta said.

The company plans to spend Rs 40 crore on marketing and distribution of the first channel in next six months, for which it has tied up with PVR, Headlines Today and Red FM.

This is for the first time we are launching a general entertainment brand to address the needs of 42 per cent of India's population in the age group of 15-34 years.