Louise Duffy ©RapidTVNews | 03-08-2011

India's leading regional broadcaster Sun TV Network is planning to launch six channels this financial year and invest Rs 1.6 billion in buying movies for telecast rights.

The network is scheduled to launch a children's channel, Malayalam, within a month.

Sun Group chief executive officer Tony D’Silva told Indiantelevision.com: "We are looking at launching five to six channels this year. The launch will be towards the end of the second or third quarter. There will not be much of a capital expenditure requirement.”

Sun TV Network has approval for 12 channels. The company is targeting a 12-15% growth in ad revenue and expects that the launch of the 'add-on' channels will help fight any slowdown in the economy.

In the first quarter ended June, Sun TV Network’s ad revenue grew 4% to Rs 2.31 billion.

“We should be cruising along to a 12-15% growth in ad revenue. Even in a slowdown, advertisers will consolidate their spends on the leading broadcaster. We are also offering incremental inventory by launching channels,” said D’Silva.