Investments in new channels and Voot pull TV18 into Q1 loss

[Sourabhs20]

MUMBAI: TV18 Broadcast, a Reliance Industries
Ltd group company, has slipped into net loss in the
fiscal first quarter because of investments in new
channel launches, CNN-IBN rebranding and the
launch of video streaming service Voot.
Building future businesses, the company posted a
consolidated net loss of Rs 14.1 crore (Rs 141
million) in the quarter ended June compared to a
profit of Rs 8.6 crore (Rs 86 million) in the year-
ago period.
Viacom18 launched Hindi movie channel Rishtey
Cineplex and video streaming service Voot in May.
It also launched HD channels in Kannada, Marathi
and Bangla during the quarter. The aggregate
operating loss attributed to these new initiatives in
the consolidated results is at Rs 29.2 crore (Rs 292
million).
TV18 bolstered its presence in the regional space
with the launch of News18 Kerala, News18 Tamil
Nadu and News 18 Assam/NE in April. For the
three months ended in March, these three news
channels reported operating loss of Rs 13.9 crore
(Rs 139 million).
Factual entertainment channel FYI TV18 incurred
an operating loss of Rs 5.4 crore (Rs 54 million).
While the channel was commercially launched on 5
July, the operating loss attributable to the channel
has been included in the April–June quarter. FYI
TV18 is part of AETN18 stable, a JV between TV18
and A&E Networks.
During the quarter, the company incurred a one-
time expense of Rs 3.5 crore (Rs 35 million)
towards rebranding CNN-IBN as CNN News18.

Investments in new channels and Voot pull TV18 into Q1 loss | TelevisionPost.com

 

[SarfaRaZ]

Factual entertainment channel FYI TV18 incurred an operating loss of Rs 5.4 crore (Rs 54 million). :sp

 

[Ashwani Jindal]

Good Share Bro