Sony Pictures Network India reports ₹6,309 cr revenue

Sony Pictures Network,SPNI Sony,Sony Sports Cluster network,Sports Media Rights,Sports Business News India

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

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

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

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The company’s profit after tax is down by 22.54% – recorded at ₹ 346.4 crore for the year as against ₹ 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 ₹ 6,425.3 crore and consolidated profit after tax ₹ 414.3 crore for the year.

In FY 2018-19, the broadcaster’s revenue from operations decreased by 0.85 to ₹ 6,223.7 crore from Rs 6,277.2 crore in FY 2018. Advertising income declined 13.55% to ₹ 3,178.6 crore while subscription income declined 1.9% to ₹ 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 ₹ 219.6 crore from ₹ 208 crore. Also, the revenues were up 136.36% to ₹ 847.1 crore from ₹ 358.4 crore in digital and licensing income. In distribution and licensing of movies, the income is reportedly down by 55.16 % to ₹ 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.

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