TV18 Broadcast Ltd on 16 July reported a consolidated revenue from operations of Rs 3,069 crore for Q1 FY25. The broadcaster’s revenue was driven by Sports and News segments, even as unit Viacom18 continued to make investments in the two segments.
“As these segments are in the build-out phase, investments are required for creating a strong and compelling consumer proposition, which will help establish these platforms as the default choice for consumers across the country. Both these businesses have scaled up impressively in a short time, building a strong brand and consumer recall, and are expected to continue leading growth for Viacom18 over the foreseeable future,” TV18 Broadcast Ltd said in a statement.
On July 10, the shareholders and unsecured creditors of Network18 Media & Investments, TV18 Broadcast and e-Eighteen.com approved the proposed merger between these companies. The company is in the process of obtaining other requisite approvals for completion of the transaction, said the statement.
“I would like to thank the shareholders of Network18, e-Eighteen.com and TV18 for wholeheartedly approving the merger. Their faith inspires us to do even better as we continue in our journey of creating a media powerhouse. We truly believe that this merger will be a stepping-stone for us to build a long and lasting legacy,” said Adil Zainulbhai, Chairman of TV18 Broadcast Ltd.
In the course of the quarter, TV18 was the highest reach news network during the general elections, with its portfolio of 20 channels reaching 200 million-plus people weekly across the country. The news network delivered industry leading revenue growth on the back of strong market positions across genres, and also saw a sharp improvement in profitability.
TV News operating revenue rose 14 percent on-year to Rs 385 crore in the April-June quarter. Operating EBITDA saw a sharp turnaround to Rs 40 crore in green from Rs 6 crore loss in the same quarter a year ago, as costs remained flat.
The Entertainment segment operating revenue was split across two quarters — Q4 FY24 and Q1 FY25. “JioCinema’s non-sports advertising revenue saw a sharp jump driven by a mix of digital original content and network shows,” said the company.
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