Viacom18 had a great year financially. The company saw its revenues shoot up in the 2023-24 fiscal year. They made a whopping $1.3 billion in gross revenue, a big jump from $871 million the year before. That’s a big win indeed!
Wait, there are some more numbers.
Their operational revenue also saw a massive 49% increase, reaching $1.1 billion. However, their earnings before things like taxes and depreciation (called EBITDA) went down a bit to $3.9 million from $28.3 million in the previous year. Why so? Because, they invested more in things like sports, news, and entertainment digital services.
But what is the reason behind such a big jump?
Viacom18 says their investments in sports, news, and entertainment platforms like JioCinema, Moneycontrol, and News18 are paying off big time. These platforms are becoming more and more popular, minting more and more money for the company.
Sports was their biggest moneymaker. We all know that JioCinema has had a monstrous rise last year. They brought in FIFA World Cup, IPL, a super promising slate (failed miserably though) and so many more things. JioCinema might not be in a great position right now but the sudden rise definitely helped it to shake the competitors.
And, how can we forget the theatricals?
One of the highlights of the year was the release of “Fighter,” India’s highest-grossing film of 2024 so far.
A very very important factor is Viacom18’s merger with Disney’s Star India in a deal worth a staggering $8.5 billion! By combining Disney’s popular content with Viacom18’s own productions and sports offerings, they are definitely bigger.
Let’s hope they fix the trashy content on JioCinema if they are making money. Because it is really unbearable.
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