TV18’s news vertical registers 20 per cent revenue growth in Q2 FY24

TV18’s news vertical registers 20 per cent revenue growth in Q2 FY24

Viacom18 continues to aggregate rights of leading sports properties.

TV18 Broadcast

Mumbai: TV18 Broadcast Ltd has announced its results for the quarter ended 30 September 2023.

Viacom18 becomes ‘the destination’ for sports in India

Viacom18, in its quest to become the primary destination for sports in India, continues to  aggregate rights of leading sports properties. With acquisition of exclusive media rights for  the BCCI International and Domestic matches, it has become the home of India cricket. The  rights include international men’s, women’s, and other domestic first-class competitions like Ranji Trophy. Viacom18 acquired both the Indian sub-continent and global television and  digital rights for the next 5 years for Rs 5,963 crores.

As the most loved sports in India, cricket (BCCI, IPL) will enable the Company to drive a  step jump in audience footfalls, especially on JioCinema, as live sports consumption  continues to pivot towards digital. Broadcast rights will strengthen the Company’s channel  bouquet and will enable it to broaden its broadcast content portfolio and serve quality content to all its viewers. With the new features launched during IPL, Viacom18 has enhanced the Indian viewer experience like never before, and it will continue to drive  innovations to delight its audience.  

Viacom18 also added the Indian Super League, the highest level of the Indian football league  system, to its portfolio. With a constellation of marquee sports properties like IPL, WPL,  Olympics 2024, SA20, Major League Cricket (MLC), Ultimate Table Tennis (UTT), NBA,  Diamond League, World Athletics Championships Budapest 2023, MotoGP, La Liga,  Ligue1, Serie A, Abu Dhabi T10, FIFA World Cup Qatar 2022, and top BWF events,  Viacom18 has established itself as India’s #1 destination for sports.

JioCinema takes the entertainment streaming game to the next level

JioCinema is quickly scaling up as one of the leading streaming platforms for entertainment  content. The second season of India’s most popular reality show in a digital-exclusive  format, Bigg Boss OTT, became the biggest ever reality show on digital, with record  concurrency and voting during the finale. The season wrapped up with 100 mn viewers  consuming 30 bn minutes of content on smartphones and CTVs. User engagement was at  an unprecedented level with 5.4 bn votes logged through the season, highlighting the scale  and connect of the show with users. The grand finale was the most streamed live  entertainment event in India with 23 mn viewers and a peak concurrency of 7.2 mn. During  the 15 minutes live voting window for selecting top 2 finalists, 250 mn votes were received. • Popular network reality shows also saw an exponential growth in digital consumption. Khatron Ke Khiladi S13 saw 2x viewers and 1.5x video views compared to the previous  season and Roadies S19 delivered 7x viewers and 4x watch-time of the previous season. • Original shows released during the quarter also garnered wide reach and engagement.  Taali (starring Sushmita Sen) featured in ‘Top 10 OTT Originals of the Week1’ for more than  5 weeks in a row. The show reached a record 20 mn viewers in the first week of release.  Kaalkoot also featured among ‘Top 10 OTT Originals of the Week1’ for 3 weeks in a row  and was watched by 25 mn viewers.

TV18 News Network maintains dominance in key markets; Entertainment network share  strengthened viewership share by 50 bps

TV18 News continued to be the highest reach network in the country, reaching ~190 mn  people around the country every week. The network maintained its leadership position in  key markets with CNBC TV18, News18 India, and CNN News18 being the #1 channels in their respective genres. TV18 was also the leader in primetime in the Hindi speaking  markets, solidifying its position as the network of choice in the region. The network had  leadership in 5 regional markets, including UP/Uttarakhand, Rajasthan, MP/Chhatisgarh.  News18 Lokmat, the Marathi language channel, climbed viewership charts to become the  second ranked channel, driven by the programming initiatives launched over the past year.  

TV network share increased by 50 bps to 10.5%, driven by the performance of Sports and  Movies channels. Colors was the #2 channel in primetime with 18% market share and exited  the quarter with 2 of its fiction shows featuring in the top 10 list. Colors Kannada continued  to be a strong #2 channel in the Kannada genre. Viacom18 Studios released Rocky Rani  Ki Prem Kahani and OMG 2 during the quarter, and both the movies were commercially  successful as well as critically acclaimed.

Strong growth in revenue as the company continues to make investments in growth  businesses

TV news network delivered a strong growth in advertising revenue despite the continued  weakness in advertising environment. Excluding government initiatives, the news industry saw  a decline in ad inventory consumption. News18’s revenue growth was underpinned by the  strong viewership share that the network has achieved over the last eighteen months which  has helped it to improve pricing across the network. TV18’s sharp focus on building IP events business has also helped it drive growth in revenue.

Viacom18 saw a sharp growth in advertising revenue in Sports and Digital segments. Sports  revenue was driven by the two cricket series - West Indies vs India and India vs Australia. Digital revenue was led by original shows like Bigg Boss OTT, Taali, Kaalkoot and TV network shows like Khatron Ke Khiladi. Advertising demand in the entertainment broadcast  segment continues to be soft as spending by consumer goods companies and new-age clients remains weak.

EBITDA declined as the business made investments in growth verticals - Sports and Digital.  Both these verticals require investments in the near term to build a strong consumer  proposition which will help the Company rise to the leadership position in the cluttered media  landscape. We are building a strong catalog of entertainment content which will leverage  the exponential increase in audience traffic that sports enables. Our endeavor is to make JioCinema the default destination for consumers across the country looking for quality  content.

TV18 chairman Adil Zainulbhai said, “We continue to take giant steps towards building  the network of choice for Indian consumers. With India cricket rights, Viacom18 now has the  biggest portfolio of sports properties, making it the default choice for sports fans. Our news network  has fortified its positions across the markets which bodes well as we head into the festive season  followed by elections. Our focus continues to be on providing quality content to audience and as  India’s only network with presence across news, entertainment, and sports, we are in a unique  position to serve customers across the country and demographic cohorts.”