TV18 Broadcast Limited announced its results for the quarter ended Sep 30, 2023. For the quarter under review, the company posted a consolidated revenue of Rs 1,794 crore, up 22 pc from Rs 1,473 crore in the same quarter last year.
TV18 News Network continued to have the highest reach in the country, reaching around 190 million people every week. The network maintained its leadership position in key markets with CNBC TV18, News18 India, and CNN News18. TV network share increased by 50 bps to 10.5 pc driven by the performance of Sports and Movies channels. TV18’s News vertical has registers 20 pc revenue growth in Q2 FY24. The increase in the revenue comes on the back of strong viewership gains achieved by the network’s channels with an all India viewership share of 11.4 pc.
Viacom18 reported it had acquired exclusive rights of international and domestic cricket matches organised by BCCI for five years, and also acquired Indian Super League media rights for two years. The company reported JioCinema had consolidated its position as India’s leading OTT platform, delivering record viewership for marquee entertainment shows. The group’s news network maintained absolute leadership with an all India viewership share of 11.4 pc, while entertainment network share increased by 50 bps to 10.5 pc. The company also delivered two hit films – Rocky Rani Ki Prem Kahani and OMG 2. EBITDA margin for the quarter stood at (-)11.0 pc as against 2.8 pc in the year-ago period.
Viacom18 now has Indian Super League, IPL, WPL, Olympics 2024, SA20, Major League Cricket (MLC), Ultimate Table Tennis (UTT), NBA, Diamond League, World Athletics Championships Budapest 2023, MotoGP, La Liga, Ligue1, Serie A, Abu Dhabi T10, FIFA World Cup Qatar 2022, and top BWF events in its sports portfolio.
Bigg Boss OTT season wrapped up with 100 million viewers consuming 30 billion minutes of content on smartphones and CTVs. The finale was the most streamed live entertainment event in India with 23 million viewers and a peak concurrency of 7.2 million.
Viacom18 saw a sharp growth in advertising revenue in Sports and Digital segments. Sports revenue was driven by the two cricket series – West Indies vs India and India vs Australia. Digital revenue, on the other hand, was led by original shows like Bigg Boss OTT, Taali, Kaalkoot and TV network shows like Khatron Ke Khiladi. EBITDA declined as the business made investments in growth verticals – Sports and Digital.
Adil Zainulbhai, Chairman, TV18, said, “We continue to take giant steps towards building the network of choice for Indian consumers. With India cricket rights, Viacom18 now has the biggest portfolio of sports properties, making it the default choice for sports fans. Our news network has fortified its positions across the markets which bodes well as we head into the festive season followed by elections. Our focus continues to be on providing quality content to audience and as India’s only network with presence across news, entertainment, and sports, we are in a unique position to serve customers across the country and demographic cohorts.”
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