UTV & Disney -

STUDENT NAME: HANAN ASGHAR

STUDENT ID:3066452

This dissertation/case study is submitted in

partial fulfillment of the requirements for the
degree of Master of Science in Business Management
 University of Stirling February 2023

Abstract

In 2006, the leadership of the United Television and Software Company Limited (UTV)
considered a partnership with the Walt Disney Company (Disney). This partnership would
see Disney acquire Hungama TV, the top children's television channel in India, which was
founded in 2004 and is now controlled by Ronnie Screwvala, CEO of UTV (51%) and UTV
(49%) (Collis and Hartman, 2017). In addition, Disney would acquire a 14.9% equity
investment in UTV as the term of this arrangement. Estimates put Disney's entire acquisition
at $44.5 million. Disney and UTV both work in the entertainment and communications
sector. With minor local differences, this business in India is comparable to those of other
nations where a high yearly rate, diverse segments primarily driven by music and movies,
increased demand for indigenous content instead of localized, fast-rising production and
distribution costs, and piracy. India is among the most significant marketplaces in the
Emerging economies, one of the quickest M&E economies due to its unique characteristics
(highly qualified, young population with rising disposable income). Many multinational
companies attracted by it derive most of their earnings from the Indian market. UTV is well-
positioned to prosper and tap into India's economic potential since it thoroughly understands
the difficulties of the Indian M&E business. With its strategic focus and switch to a
corporation (B2C) model, Screwvala forced UTV to adopt a more robust prototype and turn it
into a position to determine its future. (Artz, 2016). Because it served as the primary
television entertainment source, studies have demonstrated that the cinematic entertainment
sector was among those with the quickest growth rates. If UTV combines its expertise in
international film marketing with Disney's global platform, the Disney acquisition may be
favorable. It may do this by running a movie distribution business in more than 200 countries
where Disney has made a name for itself. A top-notch solution with a roughly 200-country
span will be created by combining Disney's expertise in unique and imaginative
programming with the commercial and circulation skills of UTV. Launching regional
channels overseas that cater to the 25 million Indians who reside outside of their nation and
can capitalize on the achievement of the Indian film industry to achieve its objectives is
another option. Due to low-production infrastructure, Channel UTV can leverage its current
skills and spend less (Artz, 2022).

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Table of Contents

1. Introduction.........................................................................................................................5

1.1 Background.......................................................................................................................5

1.2 Importance........................................................................................................................6

1.3 Research issues............................................................................................................7

1.4 Structure of the research...................................................................................................8

2. Literature Review...............................................................................................................9

2.1 Capital Structure Analysis................................................................................................9

2.2 Neoliberal globalization for UTV and Disney............................................................9

2.3 Factors that affect digital transformation..................................................................10

2.4 Activities of Disney Company..................................................................................11

2.5 International media market analysis..........................................................................13

2.6 Use of Transnational media animation......................................................................14

2.7 Disney market research in the India region...............................................................15

3. Methodology.....................................................................................................................18

3.1 The Philosophy..........................................................................................................18

3.2 Approach of Strategy.................................................................................................18

3.3 Choice of Strategy.....................................................................................................19

Porter's Five Forces Model...............................................................................................19

3.4 A Competitive Rivalry..............................................................................................19

3.5 PESTLE Analysis.....................................................................................................20

Political factors.................................................................................................................21

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Economic variables...........................................................................................................21

Social aspects....................................................................................................................21

Technology-related elements............................................................................................22

Legal aspects.....................................................................................................................22

Environmental elements...................................................................................................22

3.6 VRIO Analysis..........................................................................................................22

4. Analysis and Result..........................................................................................................24

4.1 Introduction....................................................................................................................24

4.2 Summary of the Findings...............................................................................................24

4.3 Sample Size....................................................................................................................24

4.4 Limitations.................................................................................................................29

5. Findings............................................................................................................................30

6. Conclusion........................................................................................................................31

7. Recommendation..............................................................................................................33

8. References.........................................................................................................................34

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List of Figures

Figure 1:Poster Five Forces Model..........................................................................................20

Figure 2:VIRO Analysis..........................................................................................................20

Figure 3:UTV Marketing.........................................................................................................22

Figure 4:Age Group of people who use UTV..........................................................................25

Figure 5:UTV usage.................................................................................................................26

Figure 6:Disney Usage.............................................................................................................26

Figure 7: Graph........................................................................................................................31

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1. Introduction
1.1 Background
In 2006, the Walt Disney Corporation and the UTV Company discussed developing a
strategic partnership. This action was made in response to UTV's intentions to expand beyond
its Indian origins and into the global market. The essential technique for achieving these
expansion goals was developing various vertical integration solutions. The Disney
partnership was supposed to help UTV expand while exposing Disney to the regional Indian
market. The biggest concern was the likelihood of Disney acquiring UTV, which pushed
UTV to investigate the details of the potential agreement with Disney (Artz, 2016).

UTV was formed in 1981 by Screwvala (UTV and Disney). At the time, it was India's first
broadcast tv business. While the company started creating content for a few networks, it
gradually grew to encompass the BBC, CNN, and National Geographic programs worldwide.
Later initiatives in the United States and the United Kingdom significantly increased the sales
volume. The company is well-known for its three verticals. The first is television content
creation, the second is movie production and distribution, and the third is post-production and
special effects development. However, UTV's Hungama TV is the primary cause of concern
in the company's therapeutic alliance with Disney. The firm's children's networks, UTV and
Disney, are India's first. As a result, it was believed that by cooperating with Disney within
the confines of Hungama TV, the company might get access to new international markets.

Disney is one of the world's best-known and well-known companies. Since its founding about
seventy-five years ago, the company has expanded into vital sectors such as media sources,
media corporations, Disney Merchandise, and theme parks. The Disney debut in India in
2004 is the most notable example. Although this initiative served upwards of 107 million
residences, it was a vital management component (UTV and Disney). Disney even had
ownership of Cartoon Disney as well as the Disney Channel in India. However, they decided
to enlarge by purchasing UTV's Hungama TV.

Disney would have more accessibility to the Indian market due to the acquisition of Hungama
TV, including increased access to UTV's diverse media businesses. According to the terms of
the contract, Disney sought to purchase a 14.9% stake in UTV Technology Broadcasting Ltd.
and 100% of Hungama TV(Disney, 1993). It should be noted that UTV has competitors in

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both TV and film when discussing rivalry. Sun Network, Star India, Set India, and Zee
Telefilms are the main rivals. According to projected future developments, industry research
has indicated that Indian companies have a substantial opportunity to expand in international
markets. The primary difficulty with Disney's purchase of Hungama TV remained UTV's
steadfast commitment to safeguarding the parental firm.

1.2 Importance
In 2006, UTV Software Communications Ltd.'s executive vice of commercial innovation and
strategy had to decide whether to move forward with a relationship with The Walt Disney
Company (Disney). The case illustrates the decision-making process, the goal of selling
Disney India's most-watched kids' channel, Hungama TV. One of the biggest media
companies in India, UTV has a wide range of content interests, including TV series,
documentaries, animation, and new media. Even though UTV had opened offices in the US,
the UK, and other countries two years earlier, its global reach was still small. The CEO of
UTV aimed to increase the business's income from Rs 2 billion to Rs 5 billion by 2008 and
Rs 10 billion by 2010 (Debraj Deb, 2021).

This investigation seems doable if UTV wishes to collaborate with Disney on a sub-national
level. UTV believed partnering with Disney in India would help it grow its company abroad.
On the contrary, Disney was a significant transnational with a lengthy tradition of mergers.
The UTV communications director was worried that Disney's willingness to work together
deliberately was part of a grand scheme to purchase the company and profit from its efficient
and effective performance. Due to its many sectors, UTV may also work with other
companies. It has consolidated its position within the Indian media industry over the past 15
years, lowering the possibility that it might lose its uniqueness. Disney's reputation will be
helpful when negotiating and establishing relationships abroad. UTV is assessing the critical
role of a combination with Disney. Instead of a subject merger, UTV has a variety of other
possibilities to broaden its global reach. For example, it can utilize the profits from its
international film businesses to buy holdings in foreign channels that cater to children and use
its expertise in production and marketing to sell its concept.

Although UTV had little foreign market presence, Disney Alliance's sale of the Hungama TV
Channel allowed it to grow internationally to meet its expected income goals. To achieve
predicted income, UTV believed that case-by-case partnerships with Fox and other studios
were required rather than selling the Hungama TV channel.

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Disney was a major corporation, and if UTV wanted to develop over the long run, then giving
up Hungama may be a wise strategic move for a much more significant gain down the road.
Also, with the help of the Disney coalition, it will be responsible for distributing Disney
Networks, marketing products, and dissipating its blockbusters in India. Disney’s alliance
could assist Disney in expanding into many Indian industries within the company's current
operations. According to senior management, the combination may give the business
adequate financial flow to continue growing.

UTV operates in two distinct countries, the US and the UK. In the US, net sales totaled
$2,735,279, and there was a net profit of $38,643 at the end of 2005, but in the UK, net sales
were 815,876 euros, and there was a net profit of 2,015 euros for the year that just finished.
UTV and Hungama were among the top TV networks globally and were favored by kids and
adults for usage in the home. As a result, UTV has a chance to grow its business across
international borders to meet its revenue projections for 2008 and 2010, considering its prior
position in the global market (Aufderheide, 2002).

UTV could also consider growing vertically in some of the industries that it already operates
in (that can be done by investing more in Hungama TV rather than selling the entire channel).
By entering into case-by-case partnerships with foreign studios, UTV can expand its
domestic and international business (Fox and other studios).

UTV would have a competitive advantage if it invested in Hungama TV rather than selling it,
since it could quickly increase its market share in India. By establishing case-by-case
partnerships with Fox and other studios, UTV should grow its company both in India and
abroad to reduce risk and stay safe.

Due to its competitive edge in the Indian market because of the Hungama TV Channel and
UTV itself, UTV believed that the partnership between Fox and another studio could be more
notable than the Disney Alliance (Bohas).

1.3Research issues
 What are UTV's global opportunities?
 How can collaboration with Disney improve UTV's international footprint?
 What are the advantages and disadvantages of the strategic alliance with Disney?
 What choices are available in light of Ronnie Screwvala's proposed tax rises?

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 What competitive advantages does UTV possess, and how can it make the most of
these benefits to build the product line?
 Would UTV first focus on establishing and expanding in India before establishing
particular ties with large studios to go internationally?
 Users' choice between UTV and Disney
 To come up with plans that benefit all parties involved in a business.
 How to integrate a foreign firm

1.4 Structure of the research

 Chapter 1 describes the context, business issues involved, and the significance of this
research.
 Chapter 2 examines the benefits and drawbacks of first public offerings, international
market listings, one share, one vote, and multi-class shares.
 Chapter 3 elaborates on the approach for this study.
 Chapter 4 examines and discusses the research findings.
 Chapter 5 provides an overview of the research's conclusions and limitations.

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2. Literature Review
2.1 Capital Structure Analysis
Examining capital structures is one of the fundamental elements of service management.
Disney acquired a 14.85% stake in UTV Software Communications Ltd. for $200 million.
The strategic alliance between UTV and Disney involved a mix of equity and debt financing.
The subject of decisions about capital structure is permanently open inside the context of
shifting company conditions. This study uses ratio analysis to examine the various
components of a sound capital structure. Correlation and t-tests are used by UTV, Disney,
and virtually every other business or channel to verify fundamental presumptions (Kavadias
et al., 2016).

The competition commission reviewed a series of acquisitions made by Reliance Industries

Limited (RIL) that were alleged to be interdependent and aimed at giving RIL control over
the Network 18 Group of Companies. Alternative Media Confidence filed a confirmation suit
claiming that these acquisitions would harm competition. However, after examining the
evidence, the competition commission concluded that the integration of these companies was
unlikely to significantly harm competition. The transaction was authorized after that.
Similarly, in 2006, Disney bought an Rs. 1.5 crore investment in UTV and increased it to
50.44 % by 2011 left UTV co-founder Ronnie Screwvala and three others with only 19.82 %
of the firm (Kumar, 2015).

In the study, transnational media corporations (time) are shown to have played a crucial role
in securing approval for UTV and Disney to take part in neoliberal globalization. That is done
by combining a multipolar economy method with today's liberal equity of communication
viewpoint. Consumption, individualism, and allegiance to hierarchies are vital components in
the media's promotion of global capitalist hegemony (Negulescu, 2014).

2.2Neoliberal globalization for UTV and Disney

Neoliberal globalization is an economic philosophy that emphasizes free markets,
deregulation, and the unrestricted movement of goods, services, and capital across national
borders. It is often associated with the promotion of global economic integration through free
trade agreements, privatization, and foreign investment.

For UTV and Disney, neoliberal globalization could have both positive and negative effects.
On the one hand, free trade agreements and open markets could provide opportunities for

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both companies to expand their business operations globally, reach new customers, and
increase profits. For instance, UTV could leverage Disney's brand recognition and global
reach to enter new markets and promote its content to a wider audience.

On the other hand, neoliberal globalization could also present challenges for UTV and
Disney, particularly in terms of increased competition and the potential for market saturation.
The unrestricted movement of goods and services could lead to the entry of new players into
the market, which could erode UTV and Disney's market share and reduce their profitability.
In addition, neoliberal globalization could also lead to increased pressure on UTV and Disney
to reduce their costs, which could result in layoffs and other negative consequences for their
employees.

Overall, the impact of neoliberal globalization on UTV and Disney would depend on a
variety of factors, including the specific markets they operate in, their business strategies, and
the regulatory environment in which they operate. While neoliberal globalization could
provide opportunities for growth and expansion, it could also pose risks and challenges that
the companies would need to navigate in order to succeed in (Kavadias et al., 2016).

2.3Factors that affect digital transformation

According to the framework, no modern technology could transform an industry unless
connected to an emerging business requirement through a business plan. They identified 40
unique business models and analyzed them for recurrent aspects that had successfully
changed their industries, recognizing six different attributes. The first was a more
individualized value proposition, which allowed businesses to offer a product or brand better
suited to the requirements of specific customers than earlier models. The models also
included a closed-loop system method. This idea proposes changing the conventional process
of producing, using, and discarding items (Omalaja and Eruola, 2011).

Disney increased its influence in the kids' media sector earlier this year by purchasing UTV's
broadcasting division, which included the children's network Hungama. It already controls
Discovery Channel and Disney XD. After purchasing Indiagames, a mobile gaming company
owned by UTV, Disney will also possess a substantial footprint in the digital media space.
According to Screwvala, "they will join a vast stable of thriving enterprises and trademarks in
the prominent events sector by integrating the creative powers of each entity." "Even if the
number of the rich elite is expected to increase at around 50 million and 500 million by 2025,

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we still have a good possibility of serving customers in this segment with premium branded
entertainment," says the author.

Cooperation, which is prevalent in many online markets and beneficial to both parties, was
the subject of the next lesson. This strategy lowers the barrier to entry for new markets
because customers are not required to know who owns the commodities they share.
Additionally, they learned about utilisation invoicing, which further bills the consumer once
the national strategy is implemented. This strategy was beneficial since it helped expand a
company's customer base.

They stated that achievement required a more collaborative environment. Disruptive

technology improves company risk distribution, enabling more excellent contact between
supply chain participants. Lastly, a company has to be agile and adaptable (Salvatico and
Spencer IV, 2019). It is anticipated that a company would use technology to understand better
and cater to different demands. This strategy applies to UTV and Disney; both organizations
underwent a digital transition and may evaluate their system using this framework. This
perspective aids the study of different complexity. Still, it ignores controlling executives' and
companies' operations, which impacts how successfully a company may alter its marketing
strategy electronically.

Analysts think Disney has good reason to join with UTV to portray itself in the rapidly
expanding Indian market strategically. Indian audiences above exported international
programming favored local material, and a partnership with UTV could also provide Disney
exposure to creating native content. The primary operations of Disney in India were the
distribution of films, products, and kid-targeted programming (Disney channels). Experts
forecast that the partnership will strengthen Disney's current business segments and support
the company's growth in India (Sharma and Sharma, 2013).

2.4Activities of Disney Company

This study (Artz, 2015) gives a brief outline of the economic, political, and cultural activities
of the Disney Company before explaining the history of the organization. In the late 1920s,
The Walt Disney Company started on its own, creating cartoons sold by other businesses.
Because of the firm's originator, Walt Disney, the Disney Company has a reputation as
conservative, patriotic, and "All American." Disney's influence stems from its control over
phenomenally successful media and leisure properties and its capacity to characterize
childhood and family life. It actively contributes to defining our cultural landscape as a player
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in the consolidated media industry. Disney asserts it is the biggest distributor of child's books
and magazines and the world's most significant intellectual property licensor. The Production
company Edutainment industry produces and acquires currently reside and Netflix original
films, video content, musical recordings, and professional stage performances.

The objective of this dissertation is to assess the performance of the Walt Disney Company
using three evaluation strategies to produce a more thorough and accurate report. The first
strategy involves the Discounted Retained Earnings model, which assesses the value of each
business division separately and then combines them to determine the overall value of the
company. According to this model, the estimated market value of Walt Disney's equity is
$8,852. This value, when compared to the current market price of the company's stock, which
is $85.38, suggests a potential buying opportunity. (Barathi et al., 2011). The Economic
Added-value model is the second way of valuation. While using this method, it is estimated
that each Walt Disney share is worth $77,89, which, when contrasted to its current price,
presents a buying opportunity. The relative value is the third and last method of valuation that
is discussed. A corporate share price of $83,96 is obtained using the Asset Value to EBITDA
ratio, creating a selling opportunity. The valuation acquired by this dissertation is contrasted
to one completed by J.P. Morgan, in which the share price of Walt Disney is estimated to be
$90,00. As a result, one may conclude that the appraisal in this dissertation is more cautious
because the many assumptions made are carefully analyzed in this report.

The current corporate expansion tactics used by UTV and Disney are institutionally analyzed
in this essay. The main components of an integral context to media analysis are described and
how it relates to critical political economics. It compares the subsequent internationalization,
bridge systems and technologies, and synergistic expansion strategies of UTV and Disney. It
is noted that perhaps the central tenet of such a strategy is that conglomerates strive for
authority placed above a white exterior but contest the principle that an expansion plan
guarantees such control. It is proclaimed that Disney, in contrast to UTV, is a global media
company and that its development has been made possible by a desire to transfer ownership
thru strategic partnerships and strategic alliances (Goswami, 2016).

2.5International media market analysis

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The most important markets for the American-based TNMCS in the global media market are
examined in this research, in addition to how respective regional rivals' resources were
combined with their own to advertise products linked to videos (Bohas, 2016). It is
accomplished by utilizing a case study methodology and adherence to the resource-based
view (RBV) strategy analysis framework. We examined the affiliations between NBC
Universal, Disney, Time Warner, News Corporation, and News Corporation. The six alliance
patterns are the acquisition of local intellectual property and strategic alliances between
TNMCs. The dissolution of ownership coalitions, a resurgence of interest in emerging
markets, and the quality of the real estate and specialists trying to enter such markets. And the
necessity of pooling resources that permit the "rebranding" of multimedia commodities.

This article focuses on the flexible approaches taken by international media corporations that
have lately expanded into India, focusing on their cooperative partnerships with local
businesses. The research suggests collaborative coalitions often work as one-way chutes to
import international industrial structures and practices. According to this article, Indian
television has started along the path that would eventually lead to its inclusion into the
worldwide television system. Disney has more impact and fame than UTV, so their channel is
for entertainment (Debraj Deb, 2021).

A recent KPMG analysis predicts that India's entertainment industry will develop at a
compound annual rate of 20% (Peters, 2014). The favorable demographics, rising literacy,
rising wealth, technological advancements, government support, and rising preference for the
Indian way of life are the main forces behind the expansion of India's media and
entertainment sector. The sector has experienced unprecedented growth due to the increase of
television and FM radio channels, the prominence of social media, and the growing demand
from mobile operators for content. This demand is anticipated to rise with the development of
3G services and technological advancements (Flew and Gilmour, 2003).

According to the study (Lee, 2018), entertainment is now easily accessible whenever and
wherever, and the industry now has a far wider audience. The news & entertainment sector
grew 11% in 2010 with Rs. 65,200 crores in sales. The industry is anticipated to grow
strongly due to the government's push toward digitization. A boost in membership revenues,
an increase in the variety of rich content, and the possibility for monetization increased by
17% to Rs. 26,600 crores. This essay thoroughly studies the numerous elements that make up

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the Indian entertainment industry, the chances for growth, and the sector's potential in the
future.

According to (Luís, 2015), the recent alliance with major western entertainment
conglomerates like Walt Disney and Warner Group is undoubtedly propelling. Bollywood is
forward from its current state and positioning India to become the preferred location for many
international production companies in the film industry. Without a doubt, the opening of the
Indian film industry to direct investment is a move into a more comprehensive, global
network. The author concluded that corporatization opens up new opportunities for this
industry to generate income. Advertising, co-branding, and merchandise while fostering
improved business and accounting standards.

The numerous agreements made in a short period demonstrate that international

entertainment businesses are seeing much more value in India due to the country's expanding
revenues. Recent contracts include Viacom Inc. and India's TV18 Group, News Corp. and
Balaji Telefilms for restricted content, and Disney's acquisition of UTV Software's Hindi-
language children's channel (Oba and Chan-Olmsted, 2007).

2.6 Use of Transnational media animation

The supply chain paradigm can be adjusted to more accurately analyze international media
monopolies and their strength and stability. This study assesses theoretical approaches and
ways of conducting business on expansion, process strategy, and business ecology to give the
transformational tendencies of conglomerates. This study then embraces multiple business
hypotheses in understanding mega corporations by showing that it is primarily the
confluence, or the complementary heterogeneity, in the nine product lifecycle processes that
allow enterprises to create a robust innovation environment and helps to make it better. The
theoretical development of economic theories and empirical analysis are the two main
contributions of this study. This study illustrates how the complementary heterogeneity along
business processes enables businesses to expand and sustain competitiveness by enhancing
the initial value stream framework used to assess the cultural sectors, particularly the motion
picture industry. The study demonstrates the various but significant attainment of objectives
of conglomerates and how they foster sustained competitiveness through networking with
other businesses and society by using this integrated version of the film-producing enterprises
in the US, Korea, Japan, and China.

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International clientele such as BBC, Nickelodeon (UK), and Electronic Arts are just a few
with which Maya Entertainment has worked. Disney, Hallmark, Paramount, and Marvel
Pictures are among Toonz Animation's significant clients. Additionally, it has co-production
collaborations with Viva Vision and Eva. For their performance at the Electronic Arts School
in 2004, Maya Entertainment received a nomination for the 'Best Cinematics' honor at the
game developers conference. Additionally, it received a Puldnella nomination for its
animation work on the BBC television series The Tale of Jack Frost. Tata Elxsi assisted New
York designers in their campaign for the 2012 Olympic Games and provided computer
visuals for the 2004 Academy Awards. UTV has invested 80% of the capital, and Hungama
TV intends to purchase international strategic investments. In a joint venture agreement with
Malaysia's Astro All Asia Network, UTV can contribute up to 20% (Data, 2020b) of the cash
to launch a kids' channel in Malaysia, Indonesia, Singapore, and Brunei within three years.

Animation standards enable narratives with more intentional and transparent themes for
intergenerational "family" amusement, a large media sector that currently rules globally
(Pathania-Jain, 2001). Popular television programs and animated films produced for
audiences in Asia, Latin America, Europe, and the US demonstrate a sharp increase in
cooperative transnational corporations' video production and sustained images and
depictions, demonstrating the influence of media frameworks on content and services.

Over the past few decades, significant studios have adapted similar advertising tactics used
by global business giants, playing a crucial economic role and becoming an entertainment
hub for the worldwide economy. The Hollywood industry has been influenced by the
corporate morals of globally recognized businesses, with two significant results. In the first
place, conglomerates have bought studios to ensure they follow and improve their creative
business methods. Second, Hollywood has emerged as the epicenter of an internationally
coordinated audio-visual sector in which filmmaking is no longer seen as a necessary
endeavor; multimedia integration has robbed cinema of its distinctive position as an
entertainment center. It now only represents one means of disseminating entertainment
(Wasko, 2016).

2.7Disney market research in the India region

This study (Advisors and Kanabar, 2021) attempts to comprehend the structure and existence
of ownership and control in India. The progressive changes and evolution that it has
undergone over the years since 1947, as well as the ownership and management correlations,

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acquisitions, and the legal framework that governs them, the benefits and shortcomings of
doing so, and the implications these findings have for the modern political, social, and
business sectors. It is beneficial given how little is known about Indian media ownership,
particularly in the market and audience data, without which it is impossible to fully
comprehend the role of media in influencing public opinion. That clarifies the basic query of
whose property the Indian media is.

This study (Govil, 2015) examines how India's media and telecommunications sectors have
changed in the framework of neoliberal policies the government has been pursuing since
1991 to promote the importance of the market. This historical process includes capitalist
firms' development, internationalization, involvement with foreign capital, and tighter
linkages to multinational corporations. The more significant structural concerns persist even
while the data points to impressive short-term improvements for the upper and middle
classes. Out of the country's population of over 1 billion, about 400 million Indians live in
abject poverty while attempting to climb the ladder of success and seize the fleeting
opportunities the new, rapidly globalizing economy offers.

The current phase of the Bollywood industry in Bombay is the subject of this article. It is
defined by a company's organizational logic that has been used since 2000 and treats a film
like a commodity before packaging, branding, and exhibiting it to a target audience. The
phrase "Production House" instead of "Studios" is one I have used on purpose. This
transition, characteristic of modern film practices, resulted from the Hindi cinema company's
transformation from an unorganized sector to a private equity entity after receiving Official
recognition in 1998.

With more than 1800 films produced yearly, India is the world's largest film producer.
Unsurprisingly, initiatives to capitalize on film tourism have surfaced at the federal, state, and
corporate levels. The efforts to develop India as a film cultural landscape are better-
understood thanks to this research. These efforts included improved collaboration between
the federal and state governments to encourage film production. A tourism policy emphasis
on film tourism is also included, along with the expanded usage of film in attracting tourists.
Film tourism is a noticeable trend globally, primarily at movie studio facilities. A scarcity of
film-specific attractions and an impact on visitor demand are two issues that are only partially
supported by other sources. However, the widespread presence of Indian cinema suggests
nuanced roles in tourism, forming or reinforcing impressions and motivating people to visit

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the variety of already-established attractions all around the nation. It is advised to conduct
further research on how subtly movies affect Indian tourists and how individuals are
portrayed in the film. Overall, there is a lot of untapped potential for Indian cinema tourism.

Previous findings in the global cultural economy have shown how multimedia workers create
communities surrounding mass culture and their occupational identities. That is nowhere
more evident than in the emerging industry of Indian cinema, in which the first wave of
producers established successful companies and had a significant impact on the creation of
the nation's character. This dual endeavor of economic growth and pleasure gave rise to
Indian Animation, which is generally considered a standard feature of Disney or UTV. The
"father of Indian animation," Ram Mohan, is a director and instructor and actively promotes
the growth of a new graphics production tradition in India (Pendakur, 2013).

In the exporting of animation products, India is a recent participant. Hollywood's post-

production processes were leased to Japan, Korea, and Taiwan until the last year or two.
However, India has recently emerged as a top choice for outsourcing animation employment
(Thomas and Rayadurgam, 2005). Due to the significant labor cost savings, even Asian
animation companies outsource their work to India. The Indian market has seen participation
from international entertainment behemoths, including Walt Disney, Fox Entertainment, and
Time Warner. MTV is looking into outsourcing to India and Korea, and the Philippines. And
Cartoon Network purchases Indian-produced television shows. They accompany Disney
more than UTV, even though UTV should take precedence.

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3. Methodology
This chapter will use Porter's five forces model, PESTLE analysis, and VRIO analysis to
illustrate the research's philosophy and organization. This chapter is divided into five
sections:

 The research's guiding philosophy

 Approach of strategy
 Choice of strategy
 Time frames
 Instructions for approach and processes will be given in the correct order

3.1The Philosophy
In the given scenario, the primary focus will be on UTV and Disney. The selected study for
this investigation was sourced from secondary data, as conducting a comprehensive
evaluation of TV channels would be required to answer the survey questions related to UTV
and Disney. The failure of UTV and Disney is an intriguing subject, and this investigation
aims to examine it by concentrating on the two companies. For this reason, a case study
approach was chosen. Prior to its partnership with Disney, UTV's global reach was limited.
However, following the partnership, UTV was able to expand its influence and exceed
revenue projections (Chana, 2005). For UTV, relinquishing Hungama to Disney, a massive
company, could present a valuable tactical opportunity for long-term growth. Through the
Disney partnership, UTV would be authorized to broadcast Disney Channels, market
merchandise, and distribute Disney's movies in India. The collaboration with Disney would
merge pre-existing businesses and enable Disney to venture into new Indian markets. Senior
executives are optimistic that the partnership would generate sufficient cash flow to drive the
company's growth.

3.2 Approach of Strategy

Secondary data was used to analyze the data. It entails the examination of written or visual
works or records. The material will then be arranged into structured questionnaires in an
orderly and predictable procedure. The data will then be processed and categorized into the
proper kinds before being examined and debated. This method of evaluation was adopted
owing to its ability to handle intricacy. A comprehensive data analysis method is used in
secondary content (Data, 2020a).

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3.3 Choice of Strategy

Porter's Five Forces Model

Porter's Five Forces Model can help explain how the strategic alliance between UTV and
Disney can be beneficial in terms of competitive advantage.

 Threat of New Entrants: The strategic alliance can create significant barriers to entry
for new players in the Indian media and entertainment industry. With the combined
strengths of UTV and Disney, including their brand recognition, market knowledge,
and technological expertise, the partnership can offer a more comprehensive and
appealing product portfolio than new entrants can match.
 Bargaining Power of Suppliers: With a strategic alliance, UTV and Disney can
negotiate more favorable terms with their suppliers due to their increased bargaining
power. This is because the alliance would enable the companies to place larger orders
and negotiate better prices with suppliers.
 Bargaining Power of Buyers: UTV and Disney's strategic alliance can increase their
bargaining power over buyers as they can offer a wider range of products and
services. This would enable them to negotiate better deals and capture a larger share
of the market.
 Threat of Substitutes: The strategic alliance between UTV and Disney can provide a
more extensive range of services, products, and content than substitutes. This can
make it more challenging for substitutes to compete in the Indian media and
entertainment industry.
 Intensity of Rivalry: The alliance between UTV and Disney can help them gain a
competitive edge over their rivals. The combined strengths of the companies,
including their market knowledge, brand recognition, and technological expertise, can
enable them to create differentiated and unique offerings that can help them
outperform their rivals.

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Figure 1:Poster Five Forces Model

Source link: https://www.edrawmind.com/article/porters-five-forces-analysis-definition-and-examples.html

The Porter Five Forces Model is a helpful tool from a strategic perspective, but there are
severe restrictions on how it may be used. But since the concept uses a traditional real market
and a somewhat stable financial market, it solely considers the current crisis and past cultural
occurrences. Disney and NBC share a strategic partnership. The model provides a broad
overview of the environment; it does not explicitly describe the industry. It may be
challenging to classify businesses that operate in related industries. Porter's framework has
constraints that prevent it from being used for anything other than short- and long-term
objectives. It ignores factors that are more directly related to the company and instead focuses
more on external factors—the new impact of globalization (Karan and Schaefer, 2020).

3.4 PESTLE Analysis

Figure 2: PESTLE Analysis

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Source link: https://www.analyticssteps.com/blogs/what-pestle-analysis

PESTLE analysis is a practical and popular approach or paradigm used by businesses to

consider the competitive context before beginning the sales strategy. In actuality, the constant
environmental study must guide all aspects of planning. In contrast to the internal company
environment, which includes current stakeholders or staff, wages, workplace equipment, and
banking, the surroundings of a firm include its external customers, wholesalers or brokers,
rivals, and vendors. In addition to cultural aspects, external hardships, juridical and political
constant pressure, and scientific stressors make up the analysis that can help (Kumar, 2016).

This research must be utilized often to maximize the benefits and allow a business to see
patterns. A specified system component may experience significant repercussions due to
particular external pressures or causes. Additionally, the analysis offers other solutions and
aids organizations in more precisely defining the required or intended alterations.

An explanation of the forces is given below;

Political factors
Some characteristics are prone to change due to the government's influence on the
country's infrastructure. Economic sanctions, social cohesion, governmental rules,
labor regulations, customs, fiscal policies, and hiring rules are a few examples of
political difficulties. Notably, the nonprofit must be involved when the researcher
hesitates to provide services or products.

Economic variables
The Strategic Partnership between Disney and UTV Economic factors include lending
rates, hyperinflation, wealth creation, cost of living, time spent, pay scale, and
currency values. The organization is impacted more significantly and unavoidably
when these components are combined (Lorenzen and Taeube).

Social aspects
Different social and racial groups have other effects on various industries. It is crucial
to take these things into account. The psychosocial factors encompass racial and
ethnic diversity, rates of overpopulation, understanding of industrial hygiene, and
regional components

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Technology-related elements
The Disney and TV Alliance Innovation is one of the most important strategies to
succeed in the highly competitive climate. It also has an impact on related natural
conditions, as well as how easily activities and commodities are accessible. A
company must use modern technologies and be adaptable (Pathania-Jain, 2006).

Legal aspects
The Partnership Agreement between Disney and UTV A legal factor is a set of
particular laws and ordinances that may affect how a business operates. Additionally,
it examines prospective and existing legislation that might impact the sector regarding
workforce, competition, security, and healthcare. The consequences of local, regional,
and current regulations must be considered everywhere the firm conducts its
operations.

Environmental elements
Natural factors are elements that have a lasting effect or are almost certainly impacted
by their environment. One of the aspects to consider is being conscious of regional,
climatic, or seasonal variations. An evaluation of the surroundings, taking into
account both aspects, is crucial for businesses since it determines how well they
operate (Punathambekar, 2013).

3.5 VRIO Analysis

Figure 3:VIRO Analysis

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VRIO analysis is a framework that helps to assess the potential for a company's resources and
capabilities to provide a sustainable competitive advantage. It is an acronym that stands for
Value, Rarity, Imitability, and Organization. Below is an explanation of how VRIO analysis
could be used to evaluate the alliance between UTV and Disney.

Value: This dimension of the VRIO framework evaluates whether the alliance is valuable in
terms of creating a competitive advantage for the two companies. In the case of UTV and
Disney, the alliance is valuable in that it provides both companies with access to new
markets, resources, and talent. By combining their strengths, UTV and Disney can create new
products and services that are more competitive than what they could have achieved alone.

Rarity: The rarity dimension evaluates how unique the alliance is compared to other
competitors. The alliance between UTV and Disney is rare as it combines the expertise of
two large media companies that have experience in different markets. The alliance can
provide the companies with an opportunity to enter new markets and create a unique offering
that no other competitor can match.

Imitability: The imitability dimension evaluates how easy it is for other companies to imitate
the alliance. In this case, the alliance between UTV and Disney is not easily imitable as it
requires a significant investment of time, resources, and expertise to create a partnership that
is as strong as the one between UTV and Disney. This means that the competitive advantage
created by the alliance is likely to be sustainable.

Organization: The organization dimension evaluates how well the alliance is managed by the
two companies. This dimension evaluates factors such as the governance structure,
communication channels, and coordination mechanisms. In the case of UTV and Disney, the
alliance is well-organized as both companies have experience in managing partnerships and
have put in place a governance structure that allows them to work together effectively.

In conclusion, the VRIO analysis suggests that the alliance between UTV and Disney is a
valuable and rare opportunity for the two companies to create a sustainable competitive
advantage. The alliance is not easily imitable, and both companies are well-organized to
manage the partnership effectively.

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4. Analysis and Result

4.1 Introduction
This chapter will delve into the results of the experiment. It will commence by providing a
rationale for selecting a representative sample. Following this, the evaluation of the
questionnaire will be undertaken, which includes a background check, a query about
comprehension of UTV and Disney, and the respondent's inclination towards UTV and
Disney.

4.2 Summary of the Findings

 To investigate prospective business collaborations with companies, even if it involves
selling an interest in the business to a multinational

 To research potential commercial partnerships with corporations, even if it means

giving a multinational a stake in the firm.

 To evaluate the risks and effects of cross-border mergers, especially those involving
the purchase of one economic sector and the formation of alliances in another.

 To identify business opportunities when combining with a foreign business

 In addition, information on UTV and Disney for different age groups and genders

4.3 Sample Size

According to the study (Saunders, 2016), data mentioned was used to explain the use of UTV
& Disney in the years, their importance, usage, and choice among the users. All 26
respondents who received the survey and filled it out did so. The response rate overall is
100%. But since the study relates to people's preferences for UTV and Disney and what they
prefer to view on their TVs, this is a relevant question. According to the central limiting
theorem, a response rate of 30 or even more would produce a probability that is quite similar
to the normal distribution. Purposive sampling procedures were adopted due to the survey's
non-probability character to concentrate on the significance of the study (Saunders, 2016).
Even though only 26 responses, the participants are uniform with just a few minor differences
and share a background in media and marketing. The responses that were recorded can
therefore be taken to be sufficient.

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The survey's background investigation process starts with the interviewee. The purpose of the
first inquiry was to determine whether or not participants had any knowledge of media or
marketing, in addition, to just having responses that might be trusted. Twenty-six respondents
completed the poll, and 26 indicated that they had expertise in the media or marketing. It
suggests they will have the sufficient financial or economic understanding to respond to the
survey. As a result, the outcome is thought to be reliable.

Figure 4:UTV Marketing

Following the first question about whether or not respondents have a legal background, the
second question is about their age group. A practitioner's decision-making process will differ
from that of a student or individual, and academic information may not be applicable in
practice. Therefore, it is crucial to formulate a query verifying the participants' occupations to
gather responses from both sides. There is a wide range of options. According to the previous
research data, students made up 46.2% of the participants in the age group 18-25. The survey
was from the age group held by 34.6% of the 25-30, 15.4% of the 30-36, and 37 and over age
was 3.8% (Kumar, 2015).

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Figure 5:Age Group of people who use UTV

While comparing UTV & Disney, the survey concludes that more people know about Disney
instead of UTV. 38.5% know UTV, while in comparison with UTV, 80.8% of people know
Disney, and definitely, the popularity of Disney is far more than UTV (Kumar, 2015).

Figure 6:UTV usage

Figure 7:Disney Usage

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The same comparison was for the content watched by UTV or Disney, Disney was the most
watchable, and the choice of people preferred the movies and TV series more, but they still
knew Disney more than UTV.

The Porter Five Forces Model is a valuable resource from a practical standpoint. However,
there are many restrictions on how it may be used. Since it uses a conventionally
advantageous corporate culture and relatively steady trade patterns, the architecture considers
the current circumstance and significant period occurrences.

The model gives a broad overview of the surroundings; it doesn't explicitly describe the
sector. It may be challenging to classify companies that engage in related industries. Porter's
paradigm has constraints that prevent it from being used for anything other than short- to
mid-term objectives. It ignores factors that are more directly related to the company and
instead focuses more on the extraneous environment. The approach does not compensate for
the impact of globalization, new business models, or changing trade patterns. Additionally, it
ignores factors outside the market.

A statistical technique of the income statement is probably used to evaluate the operational
effectiveness in the early stages of the business as a whole or for any business division. After
all exemptions and returns have been considered, individual costs or expenses are related to
net sales revenue. The consistent basis for sales enables quick comparisons of expensive
treatments from moment to moment against market competitors and industry databases over
extended periods (Sardana, 2012).

The Walt Disney Organization is the world's top family entertainment and consulting services
provider, in addition to its affiliates and subsidiaries. Producers and consumers, travel and
tourism, culture and the arts, home goods, and digital entertainment are its five operating
sectors. In the latest financial period, Disney, a Dow 30 business, had more than $38 billion
in yearly sales. Disney is worth upwards of $78 billion on the market.

With its headquarters in Mumbai, The Walt Disney Company (India) Pvt Inc. was founded in
July 2004. In barely six years, Disney has significantly impacted this competitive industry.
Disney has 200 permanent employees in India, and the business anticipates faster growth for
its News Networks, Digital Media Conglomerate, Commercial Products, and Studio

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divisions. One of the strongest economies beyond the United States is India, where Disney
has invested in local production.

The Disney Television Network, which includes Disney Channel, Disney XD, and Hungama
TV, has consistently been one of the top networks for kids in Cable & Satellite (C&S)
programming. The network currently reaches over 71 million households and offers a
combination of unique original content and high-quality entertainment that families and
children rely on and enjoy. Sun Distribution Services is the network's exclusive distribution
partner (Duarte, 2014).

UTV is now South Asia's leading media and entertainment company, with over 247 million
viewers. This premier global media organization in:

Motion Pictures, which established the consolidated production system in India and houses
production, manufacture, advertising, transmission, and serialization under one roof, has
grown into the nation's top movie studio in just five years (Keen, 2019).

Additionally, it has become India's broadcast network with the quickest growth, moving up to
the top 5 in just three years. Bindass powers the leading youth brand in India.

It seems to be interactive by the only Indian company with studios in Mumbai, Beijing,
Austin, London, Tokyo, and other major cities worldwide. It makes it one of the biggest
South Asian game companies. The company is ramping up with material to take advantage of
the 3G and 4G area while offering tailored entertainment nationwide on mobile and the web.

The Walt Disney Company owns a strategic investment in UTV, which is listed on India's
two most prestigious trading platforms, The National Stock Exchange (NSE) and The
Bombay Stock Exchange (BSE) (Kumar, 2015).

Walt Disney positions itself as a rising business with exciting plans. It combined with the
company's ease of financing, makes Walt Disney a low-risk investment possibility in the
financial markets.

The industry has become more intense due to the convenience of having access to all types of
material, notably through portable devices, allowing customers to choose what they would
like to watch and when. Businesses must thus modify their strategy. In reality, this adaption
process has already had benefits since companies increasingly sell multi-platform items to

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meet the demands of new, picky clients. The rise of the industry was aided by the advent of
options for disseminating digital businesses, as shown in graph 1 (Luís, 2015).

Figure 2: Graph

Analysis of the gross margin and the cost of goods sold: In operational research, the
computation of the selling price as a percentage of sales is one of the most often employed
ratios. The ratio shows the difference between the cost of goods produced or purchased and
the net income or revenue growth left over after operating costs and profits. The gross margin
significantly reflects the link between volume, price, and cost. Variations in the cost of a
product, its production costs, and the product and service diversification may all impact
operational revenue.

Contribution assessment is primarily utilized for internal organizational administration, even

though it is used more frequently in wider profitability ratios. It involves linking sales to
individual product groups or the overall business contribution margin. Such a calculation
necessitates a cautious estimation or study of the changeable and overhead expenses or
expenses of the business while taking the operating leverage impact into account.

4.4 Limitations
The term "limitations" refers to the condition where a company's current information
resources are reduced or inadequate when compared to those of other businesses operating in
the same industry. The corporation must become more successful in some areas to stay ahead
of market dynamics. They harm the organization's products since they make the international
organization weaker than its competitors.

When contrasted to other businesses within the same industry at a similar pace, a firm falls
because it has these qualities. Insufficient resources, skills, or different capacities is the
primary factor restricting a firm's capacity to function effectively. The sources of

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vulnerability might include financial resources, authentic resources, managerial skills,

financial capacity, marketing know-how, and a negative company reputation.

5. Findings
UTV has a competitive edge over rivals such as Cartoon Network due to its locally produced
content. In contrast, Cartoon Network airs dubbed movies that are less popular than those
featured on Hungama TV. To capitalize on this advantage, UTV should introduce children's
content that is centered on Indian culture. This move would help expand its appeal to parents,
thereby reducing its impact over time and encouraging young viewers to choose UTV over
other channels. Additionally, UTV has demonstrated excellence in film distribution. To
enhance the visibility of Indian films in Western media, UTV should consider collaborating
with prominent regional production companies.

Following the development and evaluation of the possibilities, a suggestion is given based on
the solution that best suits the situation, offers the company the most significant benefit, and
resolves the problem. The council is presented in such a manner that it not only suggests a
solution to the problem but also details how it must be put into practice and the actions the
company needs to take to succeed.

A recommendation must cover the crucial subjects of how the company will carry out the
options, the benefits it will enjoy if it executes the competitors, and any potential expenses
the business could incur if the alternatives are implemented effectively.

A suggestion must also detail the improvements an option would come to the company once
it has been adopted, including a 20% (Collis and Hartman, 2017) rise in revenue or earnings,
durability, or share price increases. These factors need to be mentioned in the proposal to
give the recommendation, strength, and force, assist the audience and participants in
understanding the relationship between the problem and the suggested course of action. A
backup strategy must also be included in the guidance. For instance, if the results are not
anticipated, the organization may quickly convert to a backup system to avoid losses and
retain the company's market position.

It is necessary to incorporate historical facts under the advice. It's a good idea to integrate
historical research findings. It is essential because it gives the respondent and other
stakeholders a better comprehension of the data enshrined and the results that previous
applications of these suggestions have yielded. It fosters acceptance and encourages

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adherence to the plan that may need to be implemented to minimize difficulties and stiffness
in the company.

6. Conclusion
The case study will concentrate on UTV and Disney. A case study will be used for the
proposed research. A case study is a detailed, in-depth investigation of a specific case in a
real-life setting. Because the analysis of UTV and Disney will demand a complete review of
TV channels to answer the research questions, secondary data was chosen for this project.
The case study method was adopted for this research because the demise of UTV and Disney
is a topic of interest in and of itself, and it is hoped that by focusing on it, an in-depth analysis
will be provided. UTV's international reach was limited before the Disney partnership, but it
could expand its global reach and exceed revenue projections. Rather than selling Hungama
TV, UTV believed it was essential to form case-by-case partnerships with Fox and other
studios to meet expected revenue targets.

Disney was a massive corporation, and if UTV was seeking long-term expansion, sacrificing
Hungama could be an invaluable strategic opportunity for a far more significant benefit. It
will be allowed to broadcast on Disney Channels, sell goods, and release its films in India
with the support of the Disney Alliance. The Disney Partnership would create existing
businesses, but it might also assist Disney in growing into new industries in India. According
to top management, the collaboration could produce enough financial flow for the company
to thrive.

Financial analysis also helps organizations make wiser business decisions. A corporation's
economic report and other income reports should be arranged such that they can be compared
to those of other companies and that the raw data can be accurately evaluated. In essence, it
provides the basis that the company's leaders, analysts, and managers need to make the
business profitable in the future (Helfert, 2017).

Compared to its rivals, it spends much more on research and development, encouraging the
company to release innovative and healthier products. Long-term, this innovation gives the
business a solid competitive position. The company has made a significant number of
mergers and acquisitions since implementing its NHW technique, which has improved the
market position of the UTV and Disney Strategic Alliance and increased sales growth. A
well-known brand name with excellent consumer commitment and brand name recall is the

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UTV & Disney Strategic Alliance. Customers' brand loyalty increases the likelihood of the
market readily adopting the many new brands of the UTV and Disney Strategic Alliance.

The recommendations should include a backup plan and an alternative way to proceed for
plans A and B. It strengthens the request and makes it more palatable.

The advice considers who, what, why, and how overall. Permission for the organization is
essential. Everything has to be accomplished, how something needs to happen, who the key
actors are, and exactly how the strategy will be carried out should all be clear to equity
holders. Furthermore, the amount of time required must be stated. It makes it possible for the
stakeholder to grasp and determine how much time and money are needed to execute the
strategy (Turner, 2012) successfully.

This approach entails the analysis of written or printed materials. The information will then
be categorized into designated groups in an orderly and repeatable way. The data will then be
processed and organized into the proper kinds before being analyzed and discussed. This
method of analysis was chosen because of its ability to handle complexity. A comprehensive
plan of data analysis is used in content analysis.

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7. Recommendation
Following the development and evaluation of the possibilities, here are some possible
recommendations for UTV and Disney.

Continue to invest in research and development: UTV and Disney should maintain their focus
on research and development to keep producing innovative and healthier products that can
give them a competitive edge in the market.

Leverage local content for a competitive advantage: UTV should capitalize on its locally
produced content to attract more viewers. By introducing more children's content that is
centered on Indian culture, the company can enhance its appeal to parents and increase
viewership.

Expand collaboration with regional production companies: To further expand the visibility of
Indian films in Western media, UTV should explore opportunities to collaborate with other
regional production companies. This could help to broaden the scope of their film distribution
network and increase market share.

Consider investing in digital platforms: As more people turn to digital platforms for
entertainment, UTV and Disney should consider investing in digital distribution channels to
reach more viewers. This could include partnering with streaming services or developing
their own digital platforms.

Focus on building brand loyalty: UTV and Disney should continue to focus on building
strong brand loyalty among their viewers. This can be achieved through effective marketing
strategies, customer engagement, and by providing high-quality content that resonates with
viewers

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