Network18’s entertainment biz revenue down 5% in Q1FY25

New Delhi: Network18’s entertainment business witnessed its revenue narrow by 5% to Rs 2,684 crore in the first quarter of FY25 from Rs 2,839 crore in the same quarter of the corresponding year, owing to a few IPL matches being held in the last quarter of FY24 and the first quarter of FY25.

The matches being held across two quarters led to a split in revenue across two quarters, compared to revenue being booked in the first quarter of the last fiscal year, the company said in a regulatory filing.

Additionally, earnings before interest, tax, depreciation and amortisation (EBITDA) were impacted due to Viacom18’s continued investments in sports and digital segments.

The company informed its shareholders that these segments are in the build-out phase, and investments are required to create a strong and compelling consumer proposition, which will help establish these platforms as the default choice for consumers across the country.

Moreover, the company stated that JioCinema’s non-sports advertising revenue saw a jump driven by a mix of digital original content and network shows, albeit on a small base.

JioCinema’s revamped subscription video-on-demand (SVOD) plan, launched at a disruptive price point witnessed traction, the company said.

The company said that IPL continued to be a success for JioCinema as approximately 620 million viewers tuned in to watch the sports tournament.

“JioCinema witnessed a growth of 38% year-on-year in terms of viewership. Additionally, audiences spent more than 350 billion minutes watching IPL, an increase of more than 50%, compared to last season,” the company said.

IPL 2024 also saw the debut of ‘JioCinema Brand Spotlight’, where six consumer brands launched their marketing campaigns during the first six overs of the opening match, the company added.

JioCinema’s advertising-based video-on-demand (AVOD) witnessed a jump in watch time compared to previous seasons on the back of shows like Bigg Boss OTT, Splitsvilla and Laughter Chefs while the SVOD offering launched new subscription plans of Rs 29 per month and Rs 89 per month. Owing to the changes in pricing, the company states that there was an uptick in subscriber base.

“Digital original shows like Ranneeti: Balakot & Beyond, Murder in Mahim, Illegal S3, Gaanth, and Bigg Boss OTT (24-hour live channel, voting and other interactivity features) kept the subscribers hooked to the platform and delivered high engagement time. JioCinema was also the home of popular international shows and movies like House of the Dragon S2, Wonka, and Aquaman and the Lost Kingdom,” stated the company.

The company’s broadcast viewership share also increased marginally by 10 bps year-on-year to 10.2%.

As per the company statement, Colors was the #2 print-time Hindi channel during the quarter. The channel has four of the top 10 shows in the genre. Meanwhile, Colors Kannada continued to be a #2 channel with four of the top 10 shows.

Moreover, Colors Cineplex and Colors Marathi maintained their position in their respective genres. Additionally, the network maintained the top position in the niche genres of Kids, Youth and English.