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Pen India plans to launch six more TV channels in 2020 - nairrk - 12-04-2019

MUMBAI: Jayantilal Gada’s film production and distribution company Pen India, which currently owns and operates two channels, is planning to launch six more channels in 2020.

One of the six channels to be launched include MTunes+. The company also plans to launch channels under the name iLove, DreamTV, and BT News.

Recently, Pen Music, a subsidiary of Pen India, had received three TV channel licences from the ministry of information and broadcasting (MIB). The three non-news, uplinking & downlinking licences in the Hindi language are Issaq, Play My Movie, and Play My Song. All three licences were granted on 21st October 2019.

Presently, Pen India has two channels on-air namely B-Flix and iLove. The film studio has revamped its Hindi music channel WoW Music as iLove. The channel will now cater to an additional 30 million households across India due to its availability on DD Free Dish.

The company’s first satellite TV channel Wow Movies and Music launched in July 2018. The channel features the best movies and songs from Hindi cinema. The channel’s tagline is ‘Dil Boley Wow’.

As reported earlier, Pen India also has plans to launch its subscription video on demand (SVoD) service Play My Movie (PMM). PMM will be developed and operated by Play My Movie, a 100% subsidiary of Pen India.

Since its inception, PEN has diversified its business from solely being a video cassette library to trading video rights and distributing video cassettes, and subsequently to acquiring and distributing copyrights of Hindi feature films for video, satellite, terrestrial and other mediums. The company continues to own rights to more than 500 films, more than 10,000 songs, 1,000 plus Digital films’ rights and more than 10,000 films’ data for digital.

While its latest financials are not available, the company’s total income for FY17 was Rs 153.01 crore compared to Rs 146.43 crore in FY16. Profit After Tax was Rs 18.06 crore against a year ago’s Rs 12.34 crore, clocking 46% growth in our YoY profitability.