According to the company, the first quarter revenue is around Rs.1.265 Crore and after RS 60 Crore’s tax profit.
The entire macro-economic environment has been challenging for this industry, but the main development for us this quarter is the acquisition of exclusive digital rights IPL (Indian Premier League). With strong tailwinds supporting digital consumption, this gives us the perfect opportunity to increase OTT supply (above), “said Chairman Adil Zainulbhai.
He said this, coupled with partnerships with Bodhi Tree and Reliance, would allow the entertainment and sports business to grow further.
According to him, strategic tweaks made on news networks based on consumer insights produce an increase in parts.
Viacom18 has obtained the exclusive digital streaming rights of IPL for Indian continent for the next 5 seasons (2023-2027) for Rs 23,757.5 Crore. It also won the right to three of the five international regions, which included large cricket countries such as South Africa, Australia and the United Kingdom, for RS 594.5 CRORE.
According to TV broadcasts 18, increasing investment in entertainment and marketing content, and improving his team teams, to support growth plans, causing 25 percent growth in operating costs and affecting profitability.
