IndiaCast records revenue of Rs 258.46 crore in FY22
The company, which distributes TV18, Viacom18, AETN18, and Eenadu Television channels, saw a revenue degrowth of 10% YoY
IndiaCast Media Distribution, the joint venture (JV) between TV18 and Viacom18, has recorded revenue of Rs 258.46 crore in FY22 against Rs 286.29 crore in FY21. The company, which distributes TV18, Viacom18, AETN18, and Eenadu Television channels, saw its revenue degrow by 10% YoY.
Subscription Income and Income from Online Services fell by 13.44% to Rs 116.73 crore from Rs 134.87 crore. Syndication Income declined by 4% to Rs 46.23 crore compared to Rs 48.19 crore. Commission Income increased by 3% to Rs 72.12 crore from Rs 70 crore. Advertisement Income was down 11% to Rs 20.16 crore from Rs 22.68 crore.
Total expenses have declined by 10% to Rs 256.77 crore from Rs 283.94 crore. The company spent Rs 142.51 crore on license fees, an increase of 11.16% compared to Rs 160.42 crore. Employee benefits expense was up by 3.21% to Rs 60.56 crore from Rs 58.64 crore.
IndiaCast's carriage/placement and marketing charges rose 41% to Rs 500.83 crore from Rs 355.64 crore. The company got reimbursed for the same since the carriage/placement cost is actually borne by TV18 and Viacom18.
The company's profit for the year declined 41% to Rs 1.95 crore from Rs 3.30 crore. It is primarily engaged in the business of advertisement sales and linear channel distribution and syndication of programs within and outside India.
The company was a 50:50 JV between TV18 Broadcast and Viacom18 since 1 April 2013. On 28 February 2018, TV18 acquired a controlling stake in Viacom18, as a result of which the company has become a subsidiary of TV18.
