Reliance Media business has seen a remarkable growth in FY24, with a revenue increase of 49% compared to the previous fiscal year. The surge in revenue is attributed to the strong performance of the sports and news media segments.
Reliance's Promising Q4 Results
In FY24, the company's revenues reached Rs 10,826 crore, a significant jump from Rs 7,266 crore in FY23. The news business revenue grew by 19% year-on-year, while the sports segment emerged as the primary driver of revenue growth for Viacom18, with a staggering 62% increase in revenue.
The company made substantial investments in scaling up its sports and digital verticals during the year. Sports properties such as IPL, BCCI cricket series, and SA20 played a crucial role in expanding Viacom18's presence in the sports segment. Additionally, increased investments in digital platforms like JioCinema, Moneycontrol, and News18 contributed to strong revenue growth.
In the fourth quarter of FY24 compared to the same period in FY23, the media business recorded robust operating and financial performance across verticals. Revenue from operations surged by 63.0% year-on-year to Rs 2,419 crore, driven by the sports, movies, and news segments.
Reliance's Acquired Company's Performamces
Viacom18 witnessed an 83% increase in revenue, primarily led by the sports and movies segments. The IPL matches held during the quarter and the release of 'Fighter,' a major movie in 2024, contributed to the growth. The advertising revenue on TV networks also saw substantial growth due to strong viewership share.
Furthermore, JioCinema experienced a 50% increase in reach, driven by IPL 2024, with 11.3 crore viewers on the opening day. Additionally, WPL saw a significant increase in watch time, with a 70% higher reach compared to the first season.
The quarter also saw an increase in TV network share, driven by the robust performance of the Hindi GEC, movie, and sports portfolio, with a 70 bps quarter-on-quarter increase to 11.4%. Overall, the strong performance across various segments underscores the growth trajectory of Reliance Media business, fueled by strategic investments and successful execution of key initiatives.
