TV18 Broadcast Announced Q1FY23 Result :

• TV18’s consolidated revenue grew 10% YoY to Rs. 1,265cr, 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
• 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 25% growth in operating costs and impacted profitability

Mr. Adil Zainulbhai, Chairman of TV18, said: “The overall macro-economic environment has been challenging for the industry, but the key 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 and sports business to grow to a multiple of what it is today. Our news network’s gradual rise in the share is a testament to the success of the strategic tweaks we have been making based on consumer insights. Our endeavor is to make both our News and Entertainment verticals, default platforms of choice for consumers across the country.

Result PDF