Sun TV Network saw a big boost in revenue for the 2023-24 financial year, largely due to the success of its IPL team, Sunrisers Hyderabad, and its SA20 team, Sunrisers Eastern Cape.
Key Highlights:
- Revenue from cricket franchises jumped 138% to ₹659 crore, compared to ₹276 crore last year.
- Overall, Sun TV’s total revenue grew by 15%, reaching ₹4,787 crore, with a 13% increase in net profit to ₹1,925 crore.
- This growth was driven by higher earnings from the central IPL revenue pool, supported by a major media rights deal by the BCCI.
- Movie distribution also saw growth, with revenue rising 24% to ₹313 crore.
- However, the core TV broadcasting business struggled, with ad revenue dropping by 1.84% to ₹1,493 crore due to the shift of advertising to digital platforms. Meanwhile, subscription revenue rose 5.4% to ₹1,814 crore.
- Sun TV also expanded its portfolio by adding four new channels and now operates 37 TV channels in 7 languages.
Despite challenges in TV advertising, Sun TV’s sports and movie segments are driving its revenue growth forward.
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