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Sunday, December 26, 2004

Walt Disney Moving into India

The Walt Disney Company plans to explore all businesses in India, including broadband, ventures in mobile services like downloading ringtones and wallpapers, publishing, films, Internet, radio, merchandise and theme parks, besides television broadcasting. However, right now, the $30-billion company is focused on TV, according to executive vice-president and managing director of the company Douglas K Miller. Creativity, technology and international expansion are the three focus areas of Walt Disney, he said.

Without giving out any investment figures, Mr Miller said the India project would break even in mid to long-term.

Miller was speaking to reporters on the sidelines of a conference on the launch of two Disney channels in India. The two channels went on air in India from Friday as part of the Star bouquet.

Even as industry insiders have been talking about Disney theme parks coming to India, officials refused to give any timeframe for setting up a park in the country. Regarding theme parks, the latest project coming up in Hong Kong is significant for the company.

In the Asia-Pacific region, India and China are among the significant markets for Walt Disney, Miller said. But, when asked to compare the two markets, he said China was still quite closed. The viewership of Disney channels in the India market is expected to be the highest, barring the US, he added. (MORE)

What I do is kick them in the pants with a diamond buckled shoe!
~~Aileen Mehle~~

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