Reliance Broadcast Network Ltd (RBNL) has reported standalone total revenue of Rs 71 crore for the quarter ended March 31, 2011, up 30 per cent from the corresponding quarter of the previous fiscal on the back of strong growth in its radio operations under the aegis of BIG FM, which remained EBITDA positive.
The group’s radio operations recorded revenue of Rs 47 crore, a growth of 25 per cent over quarter ended March 31, 2010. Radio remained EBITDA positive at Rs 9 crore, a growth of 176 per cent.
Meanwhile, intellectual property business revenues grew by a whopping 240 per cent to Rs 15 crore on the back of eight properties. The OOH business posted 15 per cent growth with sales performance driven by innovation and marquee properties.
Commenting on the group’s performance, Tarun Katial, Chief Executive Officer, Reliance Broadcast Network Ltd, said, “Our radio business is at a mature stage and has delivered good results, continuing to demonstrate the confidence of advertisers in the brand. RBNL has successfully entered the television business with a strategy of targeting the top end audiences in metros and mass audiences in central India, while seamlessly integrating with our other business verticals. Our media offerings across the verticals of out of home and intellectual properties, too, have further strengthened, creating an integrated and comprehensive offering from RBNL for customers, while continuing to creating value for shareholders.”
The quarter saw RBNL launching BIG CBS Love channel in a joint venture with CBS Studios International of the US. The group also forayed into the regional television space with the launch of BIG Magic channel meant exclusively for the core Hindi heartland of Uttar Pradesh, Madhya Pradesh and Bihar.