| MUMBAI:
Its channel Colors has made a colourful start by leaping up to the No 2 slot amongst
Hindi GECs. And Viacom18's (the 50:50 joint venture between - US based Viacom
and Indian media conglomerate the Network18 Group) – results for Q3 2008
have also been coloured - red. The
company has reported a net loss of Rs 673.55 million for the quarter ended on
31 December, 2008. Other
channels that operate under Viacom 18 include MTV, VH1 and Nickelodeon. The company
has disclosed that the three channels are doing well with MTV's revenues up 28
per cent, Nickelodeon's 96 per cent and VH1 by 17 per cent. This is on a year
on year basis. The
company's total revenue in Q3 2008 stood at Rs 1.25 billion. Keeping in mind that
it continued the rollout of its its July 2008 launched GEC Colors, its operating
expenses were at a steep Rs 1.91 billion leading to an operating loss of Rs 657
million. Meanwhile,
the Network18 group's holding company Network 18 Media & Investments has also
declared its third quarter results. Network18 MD Raghav Bahl said: "The Q3
saw the benefits of Network18's ‘diversified media’ strategy come into
bold relief. Our entertainment operations - especially Colors and the filmed entertainment
business - saw a spectacular growth, bucking any signs of a slowdown. HomeShop18
also posted a robust increase across operating parameters.” Bahl
pointed out that for the news channels (general as well as business) the quarter
was tough because of the economic downturn, however he remained optimistic about
the future, “Our general and business news channels were hit by a declining
revenue environment, which has hopefully bottomed out.”
The
consolidated revenues of the Group (apart from that of Viacom18, the results of
which have not yet been consolidated with Network18's financials) stand at Rs
2.25 billion, up 21 per cent, from Rs 1.86 billion of the year ago period. Meanwhile
the expenditure shot up by 119.41 per cent, to stand at Rs 2.62 billion (Rs 1.19
billion, Q3 2007). Due
to heavy expenses of relaunch, startup and investment costs for its various offerings,
the company has suffered an operating loss of Rs 366.06 million (profit of Rs
668.13 million in Q3 2007). Its net loss too rose to Rs 440.80 million as against
a profit of Rs 194.95 million in Q3 2007. Bahl
asserted, “We are confident that Network18 will increase its market share
during these tough times, essentially because of the leadership enjoyed by most
of our media properties - a bouquet which includes leading entertainment channels,
general and business news channels, filmed entertainment operations, Internet
portals, and directories/publications businesses." For
further details on the company's and its subsidiaries' performance download the
press release by clicking
here. | 
