TV Today Q1 revenue stands at Rs 223 crore
The growth was due to improved performance by both TV and digital, the network said
TV Today Network has posted a 2.1% year-on-year (YoY) growth in TV segment, largely on the back of lower pricing for Q1 2023-2024, for the period ending June 30.
TVTN’s Q1 revenue rose 2.6 percent quarter-on-quarter (QoQ) to Rs 222.7 crore, which is still down by 9 per cent versus pre-COVID level. The growth was due to improved performance by both TV and digital, which posted overall revenue of 76.4 per cent and 22 per cent respectively.
But, the revenue from the digital segment grew just two per cent due to a large chunk of ad spend contribution scaled down that came from new age, e-commerce and gaming companies.
It is anticipated that the elections-led traction will drive better ad growth, according to Elara Capital’s Karan Taurani. He said, “Expect ad revenue to pick up in the near-to-medium term, helped by the festival season and positive impact from general elections (may start to play out in Q4FY24).”
