B.A.G. Films & Media began over three decades ago as a television content producer and has since transformed into an integrated media group that makes, owns, and broadcasts its own programming across the entire value chain. Incorporated in 1993 and led by a founder with experience spanning print, electronic, and digital journalism, the company now operates its own national and regional news channels, an entertainment channel, and a ten-city FM radio network, all fed by an in-house production engine. The recurring approach is to create popular, high-quality content for Indian and international audiences by leveraging in-house creative expertise and a shared base of studios, equipment, and intellectual property across its subsidiaries. # Business segments Four engines built on a single content-creation foundation - a national Hindi news network, a Bollywood entertainment channel, a ten-city FM radio platform, and the original television production house that feeds them all. ## 1. Content production: the creative factory that feeds the group **The company writes, shoots, and owns original television programmes and intellectual property, then supplies that content to its own channels and to outside broadcasters.** - **Makes every genre under one roof** - it produces movies, daily soaps, drama, comedy, and OTT content for Hindi and regional general-entertainment channels, which means it can serve a wide range of buyers without relying on a single format. - **Daily shows are the economic backbone** - the focus is on high-impact daily programming because these shows are more economical to produce and more profitable than one-off projects. - **Owns a library of ready-to-use IP** - the company holds a database of scripts, dialogues, clips, and other content that can be repurposed or licensed, reducing the cost and time needed to develop new material. - **Shared assets keep costs down** - a large base of studios, cameras, and other media equipment is owned centrally and shared across subsidiaries, so each channel avoids duplicating expensive production infrastructure. - **Pitched to streaming platforms too** - it has approached OTT services including MX Player and Applause with content proposals, extending its customer base beyond traditional television. ## 2. News24 Broadcast: the national Hindi news engine **A 24-hour free-to-air Hindi news channel with a 24-million-strong YouTube subscriber base and a dominant regional offshoot in Madhya Pradesh and Chhattisgarh.** - **Reaches India on every screen** - the channel is available nationwide on cable and on DTH platforms like Tata Play, Dish TV, and Airtel Digital, and it also beams into more than 20 countries across West Asia and the MENA region via the DU network. - **Digital audience earned a Diamond Play Button** - its YouTube channels together hold 24 million subscribers, crossing the 10-million mark that qualifies for YouTube’s Diamond award, which signals a large and engaged online following beyond traditional TV. - **Flagship shows drive appointment viewing** - programmes such as *Kalchakra*, *Sabse Bada Sawal*, *Mahaul Kya Hai*, and *Aamne Saamne* achieve strong TRPs, while *Rashtra Ki Baat* commands significant viewership in its daily 5 PM slot. ## 3. E24 Glamour: the Bollywood and entertainment channel **A 24-hour entertainment channel focused on Bollywood news, music, and lifestyle, now pivoting to movie telecasts as digital platforms squeeze the music-TV model.** - **Bollywood news with an international footprint** - E24 is available throughout the Hindi-speaking market on cable and DTH, and like News24 it is distributed across West Asia and the MENA region on the DU network, connecting the diaspora to Indian entertainment. - **Music royalties forced a rethink** - the cost of music royalties rendered streaming music and related content unviable for the music and news genre, so E24 Glamour Limited's channel has been re-jigging its programming to focus on regional movies and content. - **Movies replaced music videos** - as a survival strategy, E24 procured rights to movies and started telecasting movie songs. - **Chasing subscribers to fix the model** - the channel is targeting new audiences and building a subscription-based offering alongside fresh marketing strategies to strengthen its business. ## 4. Dhamaal24 FM Radio: the regional infotainment network **A ten-city FM radio network that positions itself as the local voice of its regions, now seeking collaboration with other players to improve economics.** - **Ten stations, one brand** - operating on frequency 106.4 as ‘Dhamaal24 - Har Khushi hai Jahan’, the network covers Hissar, Karnal, Patiala, Ranchi, Muzaffarpur, Dhule, Jalgaon, Ahmednagar, Shimla, and Jabalpur. - **Programmed for regional loyalty** - the content takes a “slice of life” approach to infotainment, deliberately aligned to attract maximum listenership in each city, and many of its shows have become household names in their markets. - **Pandemic hit hard, collaboration is the answer** - the subsidiary was badly affected by COVID-19, and management is now exploring tie-ups with other radio players to increase revenues and share costs. - **Royalty rules block digital expansion** - differences in music royalty rates prevent FM radio companies from streaming their channels on internet platforms, limiting the network’s ability to follow listeners online. # Group structure and partners **A listed holding company with three active operating subsidiaries - two in television broadcasting and one in FM radio - plus a dormant entity, all backed by promoter capital and a recent warrant conversion.** - B.A.G. Films & Media Ltd is the listed parent, traded on BSE and NSE, with four subsidiaries as of March 2025. - **News24 Broadcast India Limited** and **E24 Glamour Limited** are the two material subsidiaries, housing the news and entertainment channels respectively. - **Skyline Radio Network Limited** runs FM radio stations on frequency 106.4, while **BAG Network Limited** is a wholly owned dormant subsidiary with no active operations. - The warrant proceeds are earmarked for business expansion, production capacity, distribution networks, working capital, and financial support to subsidiaries through equity or loans.