MUMBAI: TV18 Broadcast has reported a 40 percent year-on-year (YoY) growth in its consolidated net profit at Rs 205.16 crore for Q3 FY19 from Rs 146.96 crore in the previous year.
Its consolidated operating revenue stood at Rs 1,425 crore in Q3 FY20 against Rs 1,275 in Q3 FY19. TV18 chairman Adil Zainulbhai said, “Our emphasis on delivering value to the consumer, expanding the partner ecosystem and raising profitability were the primary milestones during the past quarter.”
He further said, “Amidst a difficult ad-environment and continued regulatory flux, the rise in rankings for flagship channels is a positive indicator for the future. We are constantly adjusting our programming and business model for the continual technology, consumer and regulatory changes in the business.”
The company continues to benefit from linear TV subscription benefits by witnessing 40 per cent YoY revenue growth in Q3. “Implementation of the NTO (New Tariff Order) has created a transparent and non-discriminatory B2C regime, which continues to boost our TV subscription revenue. Improved distribution tie-ups across cable and telcos have brought the consumer closer to our class-leading content bouquet at an affordable optimum price,” it said in its financial release.
In line with its strategy of being platform agnostic, the group stitched multiple partnerships with notable digital platforms for serving their users a discerning selection of our content.
“The prevalent weakness in macro-environment and sluggish spending appetite by advertisers continued to drag ad-revenue down YoY for both news and entertainment. Shift of channels from DD Freedish to pay ecosystem continues to impact Hindi GEC ad-revenues for all the top broadcasters. Government initiatives to boost growth and a natural refresh-and-recalibration of ad-budgets should revive ad-growth as we head towards the new fiscal,” the company said.
It further informed, “Kids edutainment product Voot Kids progressed to a commercial launch with promotional plans. Voot’s freemium version with offerings like digital-exclusive and digital-first broadcast content as well as original content behind a pay-wall is slated to be launched soon.”
TV18’s Q3 average viewership share in news was 10.2 per cent, down from 10.9 per cent in Q2.
