Broadcasting & Cable TV company Network18 Media & Investments announced Q2FY24 & H1FY24 results: Financial Performance: - Network18 Media & Investments reported consolidated revenue of Rs 1,866 crore for the quarter ended September 30, 2023, showing a YoY growth of 20%. - Consolidated operating EBITDA for the quarter was Rs (218) crore, as the company made investments in growth businesses. - The operating EBITDA margin for the quarter was -11.7%. - For the half-year ended September 30, 2023, consolidated revenue grew by 77% YoY to Rs 5,104 crore, while consolidated operating EBITDA was Rs (303) crore. Highlights: - Viacom18 acquired the exclusive media rights for BCCI International and Domestic matches for the next 5 years, becoming the home of India cricket. - JioCinema, the OTT platform, witnessed record viewership for marquee entertainment shows, including the second season of Big Boss OTT. - TV18 News network maintained its leadership position in key markets, with CNBC TV18, News18 India, and CNN News18 being the top channels in their respective genres. - Viacom18 Studios delivered two blockbuster movies, Rocky Aur Rani Ki Prem Kahaani and OMG2. Adil Zainulbhai, Chairman of Network18, 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. The digital transformation initiatives that we had commenced for our news business last year are gathering momentum and will help us to stay ahead of the curve as we go ahead. 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.” Result PDF