TV18 Broadcast Ltd reported a robust set of fiscal fourth-quarter earnings, with consolidated revenue growing by 66% from a year earlier to Rs 2,330 crore.
The News segment delivered robust revenue growth of 28% in Q4 FY24, propelled by increased advertising revenue across clusters.
The Entertainment segment reported impressive results, with operating revenue during the quarter increasing by about 80 percent from a year ago. This growth was primarily driven by the stellar performance of the Sports and Movie segments. However, the Entertainment segment EBITDA was impacted by operating losses from the Sports and Digital segments.
TV18’s news network maintained its leadership position in key markets, delivering industry-leading revenue growth. With an all-India viewership share of 10.9%, the network reaffirmed its stronghold in the media landscape, poised to leverage its robust operating position, particularly in the upcoming election season.
Further, TV18 continued to assert its dominance as the highest-reaching TV news network in the country, reaching approximately 175 million people every week. This extensive viewership, coupled with a viewership share of 10.9%, solidifies the network’s status as a preferred destination for news and current affairs content across India.
“The year gone by has been incredibly successful for us with strong organic growth and a flurry of M&A activity. The announced merger of Viacom18 with Star India is a remarkable moment for India’s M&E (media and entertainment) sector and we believe that the combined entity shall have the power to change the media landscape of the country in a meaningful way, creating value for all the stakeholders – consumers, customers and shareholders,” said Adil Zainulbhai, Chairman of TV18.
During the January-March quarter, Viacom18, Reliance, and The Walt Disney Company announced the signing of binding definitive agreements to form a joint venture that will combine the businesses of Viacom18 and Star India.
As part of this transaction, the media undertaking of Viacom18 will be merged into Star India Private Limited. The JV will bring together media assets in Entertainment, such as Colors, Star Plus, Star Gold; Sports, including Star Sports and Sports18; and Digital Platforms JioCinema and Hotstar. The JV will have over 750 million viewers across India.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
