TV18 reports strong Q3 growth
Details
Rebecca Hawkes
| 16 January 2019

Indian broadcast network TV18 has reported a 41% leap in operating EBITDA to INR1.15 billion in the third quarter (Q3) of 2019 financial year, up from INR820 million in the same period last year.

Operating revenue rose 22% year-on-year, which the company attributed to advertising tailwinds, successful films such as Andhadhun and growing subscription income.

TV18’s standalone operating EBITDA for the TV news business registered 130% increase at INR470 million from INR200 million. While standalone operating revenue increased by 16% at INR 2.9 billion from INR 2.51 billion.

Operating EBITDA from the entertainment business comprising Viacom18 channels, AETN18, and distributor IndiaCast, increased by 11% to INR 680 million compared to INR 610 million. Revenue from the segment grew 23% to INR 11.85 billion from INR 9.6 billion.

Entertainment EBITDA includes an operating loss of INR 310 million due to the launch of new channels Colors Tamil in mid-Q4FY18 and Colors Kannada Cinema, which launched in late-Q2FY19. Adjusting for operating losses of these new initiatives, like-for-like margins for entertainment grew to 8.3% from 6.4% in Q3FY18.

Its entertainment bouquet came in third among national players with 11.2% share of entertainment viewership, the company said.

TV18’s subscription revenue increased 13% to INR 3.28 billion from INR 2.92 billion in the same quarter last year. TV18’s news bouquet of 20 channels also achieved its highest ever audience share at 11.5%.

“TV18 has further solidified its leadership as the top news player in the country, and our fast-growing entertainment portfolio is expanding our offerings as well as its core operating margins. Regional content consumption continues to be a key driver of growth across the board. We intend to continue investing to capture whitespaces and emerge as a leading, pipe-agnostic player in the broadcasting space,” said Adil Zainulbhai, chairman, Network18.