Sony Pictures Network India Reports Rs. 6,309 Crore Revenue

Sony Pictures Network India, one of India’s two leading sports broadcasters under the Sony Sports Cluster network channels, has reported Rs. 6,309.9 crore revenue for the financial year 2018-19. This a marginal 1.84% decrease over Rs. 6,428.0 crore reported in the previous year.

However, the company’s digital and licensing income is up by 136.36% to Rs. 847.1 crore

Sony Pictures Network India posted total revenue of Rs. 6,309.9 crore in the financial year 2018-19 as compared to Rs 6,428.0 crore during the previous years.

The company’s profit after tax is down by 22.54% – recorded at Rs. 346.4 crore for the year as against Rs. 447.2 a year ago. According to Exchange4media, citing SPNI’s financial statement by The Ministry of Corporate Affairs, the company has recorded consolidated revenue of Rs. 6,425.3 crore and consolidated profit after tax Rs. 414.3 crore for the year.

In FY 2018-19, the broadcaster’s revenue from operations decreased by 0.85 to Rs. 6,223.7 crore from Rs 6,277.2 crore in FY 2018. Advertising income declined 13.55% to Rs. 3,178.6 crore while subscription income declined 1.9% to Rs. 1,962.9 crore, states the report.

On the positive side, SPNI’s revenue from distribution and advertising time has increased by 5.58 % to Rs. 219.6 crore from Rs. 208 crore. Also, the revenues were up 136.36% to Rs. 847.1 crore from Rs. 358.4 crore in digital and licensing income. In distribution and licensing of movies, the income is reportedly down by 55.16 % to Rs. 15.2 crore.

Company has a strong portfolio of sports content, including WWE, national cricket boards, key European football competitions, NBA and numerous high value sports media rights.―Inside Sports