Tv18 Watches Records Quarterly Operating Revenue, Third Quarter Operating Profit

TV18 Broadcast reported its highest ever operating profit of Rs 355 crore for the quarter ended December 31, 2021 as strong advertising demand boosted operating revenue by 15% to Rs. 1,567.1 crore, also a record for a single quarter.

Buoyed by ad demand and strong viewership, both the entertainment and news businesses delivered strong ad revenue growth with annual revenue that topped the figure for the entire year of FY21, the company said in a statement.

The most notable achievements for the quarter were the sharp improvement in profitability in the news business, and strong profit margins in entertainment as well. The strong performance should be viewed in the context of the pandemic headwinds facing the film industry.

The operating margin for the news sector was 22.7 percent and the entertainment business was 21.4 percent.

The TV industry saw an all-time high ad volume in the third quarter driven by strong consumer demand, increased spending by existing brands to get a higher volume share and new advertisers using the medium to expand their reach, according to the release.

However, overall industry-wide news genre viewership declined during the quarter even as it continued to see event-driven rises. The statement said TV18 Broadcast’s portfolio of news channels is well diversified with a presence in business and general news across languages, helping it boost revenue visibility.

Domestic subscription revenue was stable, the statement said, adding that the implementation schedule for the NTO 2.0 regulation was pushed back during the quarter by the regulator to April 1, 22 until the time of litigation.

Regarding its validity it continued in the Supreme Court of India.

Commenting on the financial performance, Adil Zainalpay, Chairman of TV18, said: “We are building a strong and sustainable media franchise that not only delivers high-quality content to Indian audiences but also provides value for money.

shareholders.”

He said that the group has taken, over the past few years, many important steps that helped achieve a shift in profitability and a clear shift in our business margin profile.

“As the consumption of content across media continues to grow, our goal is to build select platforms for consumers looking for news and entertainment content in local languages, and leading movies and sporting events,” he said.

Meanwhile, Viacom18 has entered into a multi-year partnership with the NBA to provide live regular season coverage of basketball games and highlights through its television channels and digital platforms. Basketball is one of the most watched sports in the world and a local marketing outreach and consumer outreach program will help build a fan base for the sport in India.

Voot, Viacom18’s video-on-demand platform, continued to grow with improvement across all user metrics. The platform has delivered robust growth in the paid subscriber base backed by an exclusive content experience centered around India’s biggest reality show – The Bigg Boss. Some of the subscriber-exclusive features included a 24-hour live stream from Bigg Boss House, ‘Before TV’ access to daily episodes, curated ‘Unseen Undekha’ stories missing from main episodes, and ‘Weekend Extra Dose’ of energy-packed episodes with highlights the week. Over 90 percent of paid subscribers sampled this content and spent a total of about 5 billion minutes on Voot.

disclosure:

TV18 is controlled by the Independent Media Trust, of which Reliance Industries is the sole beneficiary.

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