Broadcasting & Cable TV company Network 18 Media & Investments announced Q3FY23 results: TV18’s News network maintained undisputed leadership in key markets - CNN News18, News18 India and CNBC TV18 were the #1 channels in their genres; TV18’s portfolio of Hindi and regional HSM channels was #1 in primetime in the Hindi heartland Viacom18 took a big step towards scaling up of its Digital business with FIFA world cup - peak concurrency of 12.1mn and a cumulative reach of 110mn on digital platform Colors strengthened the #2 position in the Hindi GEC segment, reaching its highest share in last 5 years; Viewership share of Entertainment network increased to 10.5% in the non-news genre Viacom18 further expanded its sports portfolio with addition of Women’s IPL, SA20, South Africa cricket, and Olympics 2024 rights News18’s regional digital portfolio rose to leadership position during the quarter Consolidated revenue grew 12% YoY to Rs 1,850 cr; continued softness in advertising impacted profitability despite strong operating metrics across the board. Mr. Adil Zainulbhai, Chairman of Network18, said: “We are really pleased with the operating performance of our businesses, however, the tough macro environment made it challenging from the perspective of financial results. We have a firm belief in the long-term potential of India’s M&E; sector and we are making investments today to be in a position to derive disproportionate benefits from this growth, especially in digital. Our portfolio is ideally positioned to grow across multiple axes and take advantage of the synergies and strengths of its diversified assets." Result PDF
Network 18 Media & Investments announced Q2FY23 results: Network18’s consolidated revenue grew 12% YoY to Rs 1,549 crore, amidst a challenging ad environment Network18 Group continued to invest in content, marketing, and distribution initiatives, to create a strong foundation for long-term growth, leading to a 34% increase in operating costs TV18’s entertainment network had 9.9% viewership share in the non-news genre during the quarter Mr. Adil Zainulbhai, Chairman of Network18, said: “The first half of the fiscal has been challenging for most sectors. However, we believe that this phase should only be a minor bump in the long runway for growth. Our presence across the full spectrum of content segments and platforms places us in a unique position to leverage the combined strengths of our assets. We have set clear objectives for our different business segments and are working on executing our plans in that direction. Despite the macro environment being less than ideal for growth currently, we continue to make investments which will help us create a strong foundation for long-term and will hold us in good stead as growth returns". Result PDF
Network 18 Media & Investments Announced Q1FY23 Result : Network18’s consolidated revenue grew 10% YoY to Rs. 1,340cr, amidst a challenging macro environment After announcing deal with Bodhi Tree and Reliance, Viacom18 made a giant leap towards building a compelling digital consumer proposition by acquiring the Indian subcontinent exclusive digital rights of IPL, India’s biggest sports property Entertainment business revenues grew 13% despite the Free-to-Air Hindi GEC going off DD FreeDish Digital News revenue continued to grow at a fast pace; TV News revenue was flat YoY despite multiple state elections in the base quarter TV18’s news channels established strong positions in key markets with CNBC TV18, CNN News18 and News18 India ranked #1, #2, and #3 in their genres, respectively 3 dedicated sports channels were launched by Viacom18 during the quarter Increased investments in entertainment content and marketing, and ramp-up of our teams, to support the growth plans, led to a 26% growth in operating costs and impacted profitability Viacom18 has acquired the exclusive digital streaming rights of the Indian Premier League for the Indian sub-continent for the next 5 seasons (2023-2027) for Rs. 23,757.5cr. It also won the rights for 3 out of 5 international territories, which include major cricketing nations like South Africa, Australia, and UK, for Rs. 594.5cr. IPL is the highest reach sports property in the country and will provide a strong entry point for consumers to come to Viacom18’s digital platform. It will play a pivotal role in helping establish it as India’s leading digital media, entertainment, and sports destination. With rights to a slew of diverse sports properties like football (FIFA World Cup, La Liga, Serie A and Ligue1), basketball (NBA), badminton, and tennis already acquired, Viacom18 is building one of the largest sporting destinations in the country, offering a compelling proposition for the core and casual sports fans. Viacom18, while continuing to strengthen its broadcasting vertical, is building a digital platform of the future, to provide best in class product, user experience to the fast-growing Indian digital audience. The platform will utilize a combination of exciting sports action and captivating entertainment content across Hindi and regional languages, to build a winning consumer value offering Mr. Adil Zainulbhai, Chairman of Network18, said: “First quarter of FY23 has set the tone for the journey that we have undertaken towards making Network18 as India’s leading destination for content. The big development for us this quarter was the acquisition of exclusive digital rights of IPL. With strong tailwinds favoring digital consumption, it gives us a perfect opportunity to scale-up our OTT offering. Coupled with the partnership with Bodhi Tree and Reliance, it will enable our entertainment business to grow to a multiple of what it is today. We are also working towards creating a 3600 news offering with depth and breadth, which not only gives the user seamless experience across platforms, but also optimizes for relevance. We are laying down strong foundations on which our businesses can continue to grow for the foreseeable future." Result PDF
Network 18 Media & Investments announced Q4FY22 results: Network18 reported its highest ever full-year consolidated EBITDA at Rs. 1,080cr; Q422 EBITDA was at Rs. 266cr FY22 consolidated margin at 18.4% (+145bpsYoY), 4 years of continuous improvement News business (TV and Digital) delivered a sharp improvement in annual profitability; Entertainment business maintained strong margins despite a step-up in investments. 25% increase in FY22 revenues driven by a strong growth in advertising; subscription revenue was flattish as NTO 2.0 implementation remained mired in legal challenges 3 dedicated sports TV channels launched in Apr’22 Viacom18 announced a partnership with Reliance and Bodhi Tree Systems in Apr’22 to accelerate its growth journey FY22: Consolidated margins rose to 18.4%, highest ever, despite intermittent COVID impact Highest ever operating profit at Rs. 1,080 cr (+36% YoY), driven by robust financial performance of all three verticals - TV News, Entertainment and Digital News TV News margins expanded by ~500bps to ~21% with strong revenue growth and continued cost controls providing operating leverage Entertainment business maintained margins at strong 18%+, despite a substantial 26% YoY increase in operating costs Digital News saw a sharp turnaround in profitability driven by growth in ad revenues Rs. 838 cr PAT, up 53% YoY, despite impact of Rs. 140 cr higher tax provision Q4FY22: 15% growth in operating revenue driven by movies business and ad revenue growth TV News revenue grew 10% YoY and margin was at 21.4% Entertainment business revenue grew 11% YoY and margin was at 16% Digital News revenue grew 32% YoY and margin was at 8% Mr. Adil Zainulbhai, Chairman of Network18, said: “FY22 was a remarkable year, not only from the perspective of numbers, but in terms of building a strong foundation on which the business can continue to grow for the foreseeable future. The financial performance has vindicated our decision of investing in new businesses a few years ago which have started showing encouraging positive results. In a similar vein, we have set ourselves an ambitious target to become a leading player in the digital space while strengthening our core TV offering. We will continue to solidify our ‘Digital First, TV Always’ proposition, leveraging our existing strengths to grow in segments where we are present and breaking ground in new markets with new and innovative offerings. The strategic partnership we have struck for Viacom18 is a big step in this direction which will help set the Company on a long-term growth trajectory and create one of India’s leading content company.” Result PDF