Pen India subsidiary receives three TV channel licences from MIB

Pen Music, a subsidiary of Jayantilal Gada’s film production and distribution company Pen India, has received three TV channel licences from the ministry of information and broadcasting (MIB).

The three non-news, uplinking & downlinking licences in Hindi language are Issaq, Play My Movie, and Play My Song. All three licences were granted on 21st October 2019.

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’.

Apart from Wow Movies and Music, the company has also revealed plans to launch four more channels namely iLove, DreamTV, BT News and MTunes HD.

Dream TV will be a Hindi music channel featuring the latest Hindi songs. MTunes will also be a Hindi music channel in HD. BT News will be a channel dedicated to Bollywood news content besides music. I Love will be a channel dedicated to romantic songs.

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 last year’s Rs 12.34 crore, clocking 46% growth in our YoY profitability.