TV18 Broadcast Q4 Results

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TV18 announces its financial results for the quarter and year ended March 31, 2024, highlighting significant growth in revenue and profitability. The period was marked by the formation of a joint venture between Viacom18, Reliance, and The Walt Disney Company. 

Joint Venture Formation and Strategic Highlights:

Viacom18, Reliance, and The Walt Disney Company Collaboration:

  • Announced the signing of binding definitive agreements to form a joint venture combining Viacom18 and Star India.
  • The venture aims to provide high-quality and comprehensive content offerings across various platforms.
  • Viacom18's media business will merge into Star India Private Limited through a court-approved arrangement.

Strategic Focus of the Joint Venture:

Read More: Reliance Industries

  • Target to be a leading provider of TV and digital streaming content in India, focusing on entertainment and sports.
  • Combines major media assets such as Colors, Star Plus, Star Gold, Star Sports, and Sports18.
  • Plans to offer access to major events on both television and digital platforms, including JioCinema and Hotstar.
  • Aims to attract over 750 million viewers in India and serve the Indian diaspora worldwide.
  • Incorporates Disney’s films and shows, enhancing the JV's offerings with exclusive rights to Disney films and access to over 30,000 Disney content assets.

Financial and Ownership Details:

Explore: TV18 Broadcast Share Price

  • Reliance Industries Limited (RIL) will invest ₹11,500 crore in the JV at the time of closing to support growth strategies.
  • The JV is valued at ₹70,352 crore on a post-money basis, excluding synergies.
  • Post-transaction, the ownership will be divided as follows: RIL - 16.34%, Viacom18 - 46.82%, Disney - 36.84%.

News Segment:

  • The quarter and the full year both saw strong revenue growth, primarily fueled by an increase in advertising revenue across various clusters.
  • The network maintained leadership positions in key markets, contributing to industry-leading growth in display advertising.
  • There was significant revenue traction from the monetization of intellectual properties (IPs) and events.
  • Q4 EBITDA remained stable, but there was a notable increase in annual profitability, with EBITDA rising to Rs. 118 crore, marking a 67% year-over-year increase, and margins improving by 200 basis points to 7.6%.

Entertainment Segment:

  • Operating revenue for Q4 saw a substantial increase of approximately 80%, largely driven by the Sports and Movie segments.
  • The Sports segment experienced a sharp revenue increase, thanks in part to the Indian Premier League (IPL) starting a week early on March 22nd, several international cricket series, and the Women’s Premier League (WPL).
  • Revenue from the Movie segment was particularly strong, highlighted by "Fighter," the highest-grossing movie of 2024 so far.
  • Television advertising revenue also saw strong growth, bolstered by an increased viewership share and the success of non-fiction properties.

Financial Performance:

Quarterly and Annual Revenue Growth:

Additional Read: Quarterly Results

  • Quarterly consolidated revenue increased by 66% year-over-year (YoY) to Rs. 2,330 crore, driven by sports and movie segments.
  • Annual revenue rose by 52% to Rs. 8,976 crore.

Digital and Broadcast Achievements:

  • JioCinema reported a 50%+ growth in viewership with the second season of IPL compared to the previous year, maintaining its status as the fastest-growing digital platform in India.
  • Viacom18’s Colors TV reached its highest share in 12 years.
  • Entertainment Network's share increased by 60 basis points quarter-over-quarter (QoQ) to 11.4%.

News Network Performance:

Overall Leadership and Reach:

  • Maintained a leading position in key markets and continued strong revenue growth based on its solid market positions across various news genres.
  • Recorded an all-India viewership share of 10.9%.

Channel-Specific Highlights:

  • TV18 is the highest reach TV news network in India, reaching approximately 175 million people weekly.
  • Leadership maintained in several regional markets including UP/Uttarakhand, Bihar/Jharkhand, Gujarat, and the northern territories.
  • CNBC TV18 remains the #1 business channel for over two decades.
  • News18 India and CNN News18 maintained #1 position in their respective segments during key time slots.
  • Significant improvements in viewer rankings for News18 Bangla and News18 Lokmat.

Digital News Growth:

  • emerged as one of the fastest-growing digital news platforms, exiting the year with record unique visitors.

Financial Performance



  • TV18 Standalone includes TV News network (excluding JV News18 Lokmat) and
  • Viacom18 and AETN18 are 51% subsidiaries of TV18; Indiacast (distribution) is a 50:50 JV of TV18 and Viacom18.
  • NM stands for Not Meaningful.
  • Due to rounding, numbers presented above may not add up precisely to the totals provided.

About The Company 

TV18 Broadcast Limited (TV18) was originally founded as Global Broadcast News Private Limited on June 6, 2005, as a private limited company. It transitioned to a public limited company on December 12, 2005, and was subsequently renamed IBN18 Broadcast Ltd on April 2, 2008. Following a Scheme of Arrangement approved by the High Court of Delhi, the company adopted its current name, TV18 Broadcast Limited, on June 17, 2011.

TV18, a subsidiary of Network18 Media & Investments Limited, ranks among India's most expansive media and entertainment (M&E) conglomerates, with a portfolio that spans television, digital content, filmed entertainment, e-commerce, print, and related sectors. The company operates India's largest news network, which includes four business news channels, one general news channel each in English and Hindi, and 14 regional news channels across India, including the joint venture News18-Lokmat.

Additionally, TV18’s entertainment subsidiary, Viacom18 (a joint venture with Viacom Inc.), manages a diverse array of entertainment channels, further broadening TV18's influence in the broadcasting and digital content sectors.

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