Will try to clear it up with the management. Thanks for bringing this up.

Shashidhar KJ The Ken, Staff writer

Hi Sajith. This was in SaReGaMa's investor call. Page 22 https://r.saregama.com/resources/pdf/investor/Transcripts-Saregama-Q1-FY-19.pdf

Shashidhar KJ The Ken, Staff writer

Music labels are also publishers of songs and compositions. So therefore they are entitled to get a cut of the royalties from streaming.

Shashidhar KJ The Ken, Staff writer

It's worth taking a step back and see how content from India might change if they account the CPMs. Indian creators will try to cater to more global audiences with their content to make sure they get viewed overseas. That's why cooking channels and tech channels do well. For example: Rajshri Entertainment has a cooking/recipes channel called Get Curried. They recently started a series which similar to a channel called Binging with Babish, where they make food depicted in films and TV shows. Get Curried is trying to do something similar. I hope you get my drift here.

Shashidhar KJ The Ken, Staff writer

Thanks for your perspective. Will keep this in mind. True it isn't fair to compare CPMs. But I hope that it brings some light for media execs not to rely so heavily on online advertising revenue.

Shashidhar KJ The Ken, Staff writer

Yes. It is cost per GB. Can also check Mary Meeker's report from 2017 which gives some more clarity on this.

Shashidhar KJ The Ken, Staff writer

Thank you for pointing that out. Fixing it.

Shashidhar KJ The Ken, Staff writer

I think it's a bit difficult to find that kind of information on US CPMs for 15 years. But you're right on the fact that it is comparing to a mature market to an upcoming one. But India's promise has always been scale and there are probably more people on the Internet from India than the US population itself. So, I guess it's fair to ask for more from Google? What do you feel is missing in the context and placement ?

Shashidhar KJ The Ken, Staff writer

Hi Gaurav. I get your point on the content play. We had written about it in a previous story. Albeit it had more of a view from Airtel rather than Jio. Perhaps they will talk more about it during their results today. Here is the previous story. https://the-ken.com/story/video-streaming-services-telecom/ Feel free to email me if you want to discuss further :)

Shashidhar KJ The Ken, Staff writer

Hmmm. Thank you for your inputs. Will keep that in mind. Would it be okay if I reached out to you? I would love to get your perspective on the telecom industry as well.

Shashidhar KJ The Ken, Staff writer

Hi Rahul. Just wondering what makes you say that this is "no story story"? What do you feel is missing? I have to take data from TRAI to give the most accurate picture. If you're referring to me using parts from the CLSA report, they've retained buy on Airtel.

Shashidhar KJ The Ken, Staff writer

Hi Praveen. On questions 5 and 6, I think we reported on this. MVNOs are a non-starter. Too little, too late. On question 6, we reported that Airtel has more than 20 million monthly active users and it's growing for Airtel TV. Regarding question 2, I don't know how BSNL and MTNL can even compete at the moment. They still haven't rolled out 4G and gave up spectrum which could help them launch these services. They've been steadily losing subscribers since years and months. On question 4, they would need 5G spectrum to handle all of those devices, but there are more issues to iron out first. Will get back to you on Question 1 and 3.

Shashidhar KJ The Ken, Staff writer