To tap new revenue streams, Star India plans to enter five new businesses by the end of the year.
"The areas Star is looking at for expansion are the Internet, mobile TV, outdoor advertising, retail, publishing and movies," Star India CEO Peter Mukerjea told Business Standard.
The company, whose last investment was for the acquisition of 26 per cent in Balaji Telefilms a year-and-a-half ago, will use a mix of acquisitions and strategic ties for its proposed expansion.
According to Mukerjea, this is being done with the aim of generating a third of the company's revenue from the new businesses in the next three years. Star India, according to market analysts, posted an advertising revenue of Rs 1,300 crore (Rs 13 billion) last year.
The entertainment major has already begun work on outdoor advertising, with News Corp's out-of-home subsidiary, News Outdoor India, setting up shop in India. Sumantra Dutta, a former executive of Star India, is heading the venture.
On the retail front, Star is looking at getting into a strategic partnership with one of the upmarket coffee shops to set up a "Star" cafe. The company is also looking at venturing into the movie business either through distribution or production.
Also on the cards is a magazine, although its theme is still being explored. Similarly, the company is exploring the possibility of acquiring a gaming company to provide content to telecom service providers.
The proposed foray into new businesses is aimed at ensuring that, with emerging media platforms likely to become stronger in the coming years, the Star brand sustains itself and grows.
"Television viewing has strong competition from other emerging media. Star needs to capitalise on this trend to ensure growth," Mukerjea said.Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group
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