Chennai, July 28 (IANS) Sun TV Network has decided to monetise the viewership gains of its comedy and kids channel this fiscal.
It announced an increase of 53 percent in topline and 43 percent in its net profit for the first quarter.
‘In the last 12-18 months we have launched around six channels and we would like to monetise the viewership gains. Consolidation of the gains is the focus now and there are no new channels on the anvil,’ Ajay Vidyasagar, CEO, told IANS.
Asked about the plans for the company’s 43 radio stations, he said: ‘We expect a 20 percent growth for the radio business this year. During the first quarter of the current fiscal the radio business contributed around four percent to the topline.’
Sun TV closed the first quarter of the current fiscal with revenue of Rs.440 crore and a net profit of Rs.170.95 crore as against Rs.287.65 crore and Rs.119.80 crore respectively earned during the corresponding period of the previous year.
‘A combination of factors – 50 percent increase in advertisement and 42 percent subscription revenues- enabled us to post a higher revenue. While television channels brought nearly 90 percent of the revenue the balance is chipped in by radio and movie distribution business,’ he added.
About the distribution joint ventures entered with Network 18 (Sun18 Media Services South and Sun18 Media Services North), he said: ‘They are cashless joint ventures. While the revenues from the southern operations will belong to the Sun Network group, the revenue from northern operations will belong to Network 18 group.’
The two broadcast groups early this month jointly entered the distribution field, floating two companies for the south and rest of the Indian market.