India's economy recently crossed the USD one trillion mark. At an annual growth rate of six percent, this makes it one of the fastest growing economies in the world. Demand for business and financial news is expected to increase among Indian households, which have already shown an affinity for economic news and information.

With this growth, and potential demand as a backdrop, mid-September 2009 saw the announcement that Bloomberg and UTV would collaborate on a television channel to deliver real-time business, economic and political news to households across India. The co-branded Bloomberg-UTV channel sees UTVi's local newsgathering, production and distribution expertise combine with the deep financial news capabilities and global reach of Bloomberg to broadcast news and information for and about the Indian market.

Shawn Galey, managing director Asia-Pacific, Bloomberg TV could not share details of the deal structure and said that, despite Bloomberg's first-billing status, there is no dominant partner in the arrangement. "From a content and commercial perspective, it's a relationship based upon mutual respect, with complementary strengths being brought to the endeavour by each side."

He continues, "Bloomberg-UTV is first and foremost a channel for the India marketplace, which means that UTV, in close cooperation with Bloomberg, takes the lead on day-to-day production, compilation and commercial management of the channel. And Bloomberg has complete confidence in UTV on these matters – Bloomberg chose to partner with UTV after speaking with a number of potential partners in India. A mix of several things made/make UTV the right partner for Bloomberg: the breadth and character of UTV's editorial vision on bringing value to viewers; a compelling-crafted business plan for Bloomberg UTV; and – perhaps most of all – the calibre and energy of the Bloomberg UTV staff."

The channel has already exceeded the 30 million households mark, with carriage on all of the major cable platforms including: Hathway, Wire and Wireless, SCV, Incable and DEN networks. "We are also present on all of the DTH platforms: Airtel; Dish; Reliance's Big TV; Sun; TataSky; and Videocon D2H," adds Galey.

Programming, he says, is currently approximately 75 percent India-produced (by Bloomberg-UTV) and 25 percent from the worldwide Bloomberg Television network (mostly US and Asia programming). "That ratio will likely change somewhat from time to time as the Bloomberg UTV channel evolves, but I wouldn't foresee a radical departure from the current split."

Asked about Bloomberg TV local production in India, Galey says while there may be selected opportunities for Bloomberg to do production in India on its own, there is little need given the strength of their partner there. "A case in point: UTV already assisted us greatly in connection with some interviews we did in India several weeks ago."

Bloomberg-UTV will incorporate substantial international programming elements from the Bloomberg Television worldwide network, and viewers will benefit from close co-operation between the organizations' editorial and production teams. In addition, the Web site UTVi.com, which is the fastest growing financial portal in India, will be re-branded as bloombergutv.com with enhanced content from Bloomberg.

Commented Andy Lack, CEO of Bloomberg's Multimedia group, "The Bloomberg Television network welcomes 30 million households in India to Bloomberg's community of more than 200 million television households, who make up the most affluent and influential audience in the world. By working with UTV to realize our shared vision for business and financial television, Bloomberg renews its commitment to delivering business, economic and political news and analysis to viewers in India, and at the same time to delivering news about one of the world's most dynamic economies to investors across the globe."

Added Ronnie Screwvala, chairman, UTV News Ltd., "The addition of 14-15 million television sets every year and a rapid change of preference in favour of premium channels will drive viewership of business news in India. This is where our association with Bloomberg, clearly the world's biggest and most credible business news brand, will create impact for the India market. We are thrilled about this collaboration and believe the audience in India will strongly benefit from the news, analysis and the world's most powerful business analytics tools that Bloomberg brings to bear."

Asked whether there were any plans to take the channel, or any of its programming, outside of India, Galey said they are taking things one step at a time. "Right now we're focusing on a market with a population of over one billion. Having said that, the Indian diaspora is huge and influential, and we will certainly look for opportunities to serve the NRI (non-resident Indian) community more fully."

He adds that the channel encryption project is well underway, with hardware being sent out to distribution partners and a switchover date to be announced soon. Bloomberg TV's new promo suite has been installed in Singapore, "We are currently looking for promos producers to make it operational," he concludes.

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