David Rosenthal: belief

Transcript context

…Right. Make the cost of acquisition actually makes sense for the advertisers on these media rights. So far, the growth of the purchasing power of consumers in India totally supports the increased media rights purchases and thus the valuations. And if they keep growing at 6%–7%, then it should continue to support 6%–7% growth in the media rights per year. Does it support the 16% growth that we had seen historically? No. The media rights packages probably will grow slower and they probably should grow at the rate of the Indian advertising market, at least in your case that you’re scoping this to right now, which is the Indian bull case. Yup. If that current growth rate in the domestic Indian ad market of call it 6%–7% per year sustains over the next 20 years, that I believe compounded over 20 years is about a 10x growth. If that happens with no slowdown, great. There’s 10x right there. So that gets your media rights to $12 billion 20 years from now.…

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