SPNI's FY21 consolidated revenue drops 4% to Rs 5721.6 crore

The network recorded ad revenue of Rs 2563.37 crore, an 11% decline over Rs 2876.5 crore in the previous fiscal

e4m by Javed Farooqui
Updated: Sep 20, 2021 8:40 AM

Sony Pictures Networks India's (SPNI) consolidated revenue for the fiscal ended 31st March 2021 has dropped 4% to Rs 5721.6 crore from Rs 5961.1 crore in the previous fiscal ended 31st March 2020, according to the company's financial data accessed by the business intelligence platform, Tofler.
SPNI's consolidated net profit for the fiscal was down 35% to Rs 582.2 crore from Rs 895.5 crore. It is pertinent to note that the Covid-19 pandemic has had a huge impact on the financials of TV broadcasting companies due to cut back in spending by advertisers.

On a standalone basis, the company recorded total revenue of Rs 5639.9, a drop of 3.52% compared to Rs 5846.2 crore during the previous year. Revenue from operations fell 4.4% to Rs 5526.7 crore as against Rs 5781.3 crore. Standalone net profit was down 43% at Rs 563.57 crore for the year, as against Rs 975.9 crore in the previous year.

SPNI recorded ad revenue of Rs 2563.37 crore, an 11% decline over Rs 2876.5 crore in the previous fiscal. Subscription income saw a 4.34% drop at Rs 2329 crore compared to Rs 2434.7 crore. Licensing income jumped 61% to Rs 429 crore from Rs 266.5 crore. Revenue share from distribution and advertising time saw a 13% decline at Rs 148.1 crore from Rs 170.6 crore. The company's earnings from the sale of programme registered a 42% decrease at Rs 18.98 crore compared to Rs 32.8 crore.

The company's total expenses saw a marginal drop at Rs 4686.4 crore as against Rs 4732.9 crore. Cost of programs, films & other rights declined 4% to Rs 2980.7 crore from Rs 3100.8 crore. Advertisement and sales promotion expense rose 18% to Rs. 610.65 crore from Rs 517.8 crore. Employee benefit expenses fell 4.48% to Rs 410.7 crore from Rs 430 crore a year ago. Broadcast cost was down at Rs 93.4 crore from Rs 104.5 crore. Subscription payout stood at Rs 75.9 crore as against Rs 68.92 crore.

According to the company's annual filing, the estimated amount of contracts for film acquisitions, cricket rights and sports rights other than cricket remaining to be executed and not provided for (net of advances) is Rs 2578.75 crore as against Rs 1884.95 crore in FY20.

MSM-Worldwide Factual Media, a joint venture between SPNI and BBC Worldwide, recorded a turnover of Rs 51.5 crore compared to Rs 48.6 crore in the previous fiscal. The company which owns and operates factual entertainment channel Sony BBC Earth has reported a net profit of Rs 39.5 crore as against Rs 20.93 crore a year ago. SPNI holds an 81.49% stake in MSM-Worldwide Factual Media.

Mark Peter Rogers, who was appointed as an Additional Director on December 10, 2019, resigned as a Director of the company effective from May 22, 2021. Rogers is EVP and Co DCFO of Sony Pictures Entertainment.

SPNI, an indirect wholly-owned subsidiary of Sony Corporation Japan, is engaged in the business of broadcasting television channels, production & distribution of films, over the top and digital content delivery platform. It owns and operates 26 channels across genres besides digital entertainment VOD platform SonyLIV, and Studio NEXT the independent production venture for original content and IPs for TV and digital media. SPNI reaches out to over 700 million viewers in India and is available in 167 countries.

Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)

For more updates, be socially connected with us on
Instagram, LinkedIn, Twitter, Facebook & Youtube