BCCL's advertising revenue grows 1.7% in FY19
In its financial statement, the network has said that the revenue function did well to post growth in Real Estate, eCommerce Technology and M&E verticals
Bennett Coleman and Company Ltd (BCCL) has recorded an increase of 7.87% in total revenue for the year ended March 31, 2019. The company has posted Rs 6,985.91 crore as total income, compared to Rs 6,476.08 crore for the year ended March 31, 2018.
The network’s Profit After Taxation (PAT) has dipped 74.83% to Rs 1,52.79 as compared to Rs 607.08 crore in the previous year. Meanwhile, BCCL’s advertising revenue has gone up by 1.7% to Rs 4,845.15 crore as compared to Rs 4,763.47 crore in FY 2018.
exchange4media reached out to BCCL for a response but didn’t get any till the time of filing this report.
As per the financial statement from the Ministry of Corporate Affairs, in FY19 the network sales of publication and distribution revenue decreased by 3.47% to Rs 680.96 crore as compared to Rs 705.49 crore in the previous year. The revenue from the sale of traded products and services has increased by 78.31% to Rs 458.53 crore. The event income of the company has also increased by 28.2% to Rs 261.80 crore as compared to Rs 204.06 crore in the previous financial year.
The company has mentioned in its financial statement that the year 2018-19 continued to be a challenging one for print media owing to pressure from escalated newsprint price and marginal dip in advertising and circulation revenue vis-a-vis the previous year.
“While the entire print industry faced headwinds due to newsprint prices, our cost functions collaboratively did a good job in containing the pressure on bottom-line and delivered on DVC, Staff Costs and AFC targets,” the statement said.
The network said that the revenue function did well to post growth in Real Estate, eCommerce Technology and M&E verticals. The impact of de-growth (versus the previous year) was largely felt from Cons Soft, Telecom and Automobiles verticals.
Also, the IRS results that came out this January augured well for the print category. It showed growth in total readership of any daily across age groups and demographics. The Times of India continues to be the leading English circulation in top five metros, the network said in the statement.
In the television news business, the network owns three channels - Times Now, ET Now and Mirror Now. Times Now continues its dominance in the English News category and maintains its leadership position, as mentioned in the ROC filing. It further stated that ET Now has dedicated itself to the nation's development with the adoption of brand purpose- Rise with India. During the Union Budget coverage, ET Now was the undisputed leader with 82% viewership, the statement said.
In the entertainment business, the network owns Zoom, Movies Now, Romedy Now, MNX and MN+. The network claims that Movies Now retains the largest share of voice among the target audience, with a dominating leadership across social media.
TimesNowNews.com (Digital) started from the bottom of the comScore list in 2017 to enter the top three league in the English Digital News Publishing space in November 2018. Timesnownews.com has established itself as the fastest growing digital publisher, the statement reads.
BCCL also mentioned that during the year TRAI came up with the New Tariff Order (NTO) and that has affected all the stakeholders in the value chain i.e. broadcasters, distribution platform and even consumers. “We expect better realisation of subscription money for Times Network channels and an improved net distribution income. However, it is expected to have a negative impact on the reach of the channels,” says the official statement.
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