Letter from the CEO
Strengthening Our Digital Future:
A Year of Growth and Innovation
Dear Shareholders,
As I write to you today, I am filled with pride and optimism about the
path we have charted together. Over the past year, amidst a rapidly changing media
landscape, we have navigated through challenges and opportunities with resilience and
innovation. While legacy of Entertainment Network (India) Limited (‘ENIL?) as a
pioneer in radio remains strong, our foray into the digital domain has opened up exciting
new avenues, positioning us as a formidable player in today?s media ecosystem. This
progress is a testament to our collective effort, and I want to thank you, our
shareholders, for your unwavering trust and support throughout this journey.
ENIL?s Evolution: A Year of Milestones
Our transition from a single-medium radio entity to a diversified
entertainment company has continued to bear fruit. The pandemic served as a catalyst,
accelerating our digital ambitions and pushing us to innovate across all fronts. Today,
your company ENIL is more than just a radio station; we are a multi-platform content
powerhouse, delivering engaging experiences across FM, digital, social media, and live
events. In the past year, your company has further streamlined its operations, emerging as
a leaner, more agile organization. This focus on efficiency has not only improved
company?s financial health but also empowered us to reinvest in growth and
innovation. Radio business remains a cornerstone of our success, demonstrating remarkable
resilience and relevance in a crowded media landscape.
Digital Transformation: Gaana
Our commitment to digital transformation reached new heights with the
acquisition of Gaana, a leader in India?s music streaming space. This strategic move
is not just about expanding our digital footprint; it?s about delivering a superior,
subscription-based audio experience to our consumers. The synergy between our brands,
Mirchi and Gaana, combined with our deep industry experience, positions
ENIL as a key player in India?s audio entertainment space. This acquisition is a
pivotal step in redefining ENIL?s digital narrative, offering us a robust platform to
reach new audiences and explore new revenue streams.
Innovating for the Future: M-Ping and Beyond
This year, we embarked on an exciting journey with M-Ping, transforming
from a leader in digital audio into a full-fledged digital advertising network. This
evolution wasn?t just about adding new formats like video, display, and YouTube; it
was about creating a more connected and powerful way for brands to reach their audiences.
We?ve forged meaningful partnerships with industry leaders, all with a single focus:
to provide our clients with innovative, effective solutions that resonate in today?s
dynamic digital landscape. These strategic moves are more than just business
decisions—they?re about staying true to our commitment to help brands tell their
stories in the most impactful way possible. As we continue to grow and diversify, we
remain dedicated to fostering connections that drive real, lasting engagement and bring
genuine value to our clients and their audiences.
A Commitment to Excellence
As we move forward, our focus remains on enhancing shareholder value
while delivering unparalleled content experiences to our consumers. We are committed to
staying ahead of the curve, leveraging our strengths in both traditional and digital
spaces to drive sustained growth and profitability. The recognition we?ve
received—from awards to campaigns for our clients—validates our efforts and
fuels our ambition to achieve even greater heights.
However, it?s important to acknowledge that the environment for
the media and entertainment industry remains challenging. The ongoing transformation we
are implementing will be critical in helping us thrive in this evolving landscape. I am
confident that with our strategic initiatives, we will not only overcome these challenges
but also seize new opportunities that lie ahead.
In closing, I want to thank each of you for your continued trust and
support. Together, we are on an exciting journey, and I am confident that the future holds
even more opportunities for growth and success. With your partnership, we will continue to
innovate and lead the way into a bright, digital future.
Yatish Mehrishi
Chief Executive Officer