Investments

Sports, digital to drive Viacom18 revenue for 'foreseeable future'

SportzPower Team

Apr 23, 2024 21:04

Read more about Sports, digital to drive Viacom18 revenue for 'foreseeable future'
Log in to post comments

Revenues at Viacom18, the media arm of Mukesh Ambani’s Reliance Industries Limited (RIL), grew by 49% for the 2023-24 financial year on the back of sports and news. The company’s revenues reached Rs 10,826 crore ($1.3 billion) in FY24 as compared to Rs 7,266 crore ($872m) in FY23.

Per the company’s statement, sports was the biggest driver of revenue growth for Viacom18.

EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) was significantly down however - from $28.3 million the previous year to $3.9m.

Jul 22, 2022 15:07

UK competition watchdog oks BT, Warner Bros Discovery sports JV

LONDON: Britain's competition watchdog on Friday approved the BT Group agreement with Warner Bros. Discovery, Inc. to form a 50:50 joint venture (JV) company that will create a new sports offering for the UK & Ireland.

Jul 21, 2022 15:07

NZC steps into metaverse, inks landmark deal with Dream Sports

MUMBAI: New Zealand Cricket (NZC) and sports technology company Dream Sports have joined forces to build a "comprehensive suite of digital fan engagement products" in an exclusive five-year deal. A significant move on the cricketing landscape, the partnership will create unique, fan-focused avenues across Non-Fungible Tokens (NFTs), gaming and merchandising through Dream Sports’ portfolio.

Jul 20, 2022 17:07

With Cape Town franchise addition, RIL now owns 3 T20 teams

MUMBAI: Strengthening its growing international footprint in cricket, Reliance Industries Wednesday announced that it will acquire a franchise in Cricket South Africa’s upcoming T20 league. Based in Cape Town, the new franchise will take forward the Mumbai Indians brand and comes close on the heels of acquiring the UAE-based International League T-20 team.

Jul 20, 2022 17:07

CSA confirms franchises in SA T20 league have IPL team owners

JOHANNESBURG: Cricket South Africa on Tuesday confirmed that the six franchises that will play the inaugural season of CSA's new T20 league have been bought by Indian Premier League team owners. "The six franchise owners for South Africa's T20 League have been confirmed following a rigorous process over the past few months," CSA said in its release.

Jul 19, 2022 19:07

KORE Software acquires Sports Alliance to expand global footprint

NEW YORK: Engagement marketing solutions major KORE Software Tuesday announced the acquisition of London-based, fan data management, and digital marketing solutions provider, Sports Alliance.

Jul 19, 2022 18:07

All 6 teams in SA T20 league bought by IPL franchise owners

MUMBAI: The Indian Premier League can now officially be declared as having an offshore venue in South Afria. Cricket South Africa (CSA), which had invited bids from international parties to buy teams in what is its third shot at mounting a franchise-based T20 league, has accepted offers from IPL team owners for all six franchises up for sale.

Jul 18, 2022 18:07

Pro Panja League ranking tournament from July 22 in Gwalior

NEW DELHI: Pro Panja League, India's biggest arm-wrestling tournament, which is in affiliation with the Indian Arm-Wrestling Federation, is set to take over the city of Gwalior as the ranking tournament begins on 22nd July.

Jul 18, 2022 18:07

Tennis Premier League returning for 4th season in December

PUNE: The franchise based Tennis Premier League (TPL) is returning for its fourth season later this year. The competition is set to begin on December 7 and conclude on December 11.

Jul 15, 2022 07:07

Priyanka Chopra Nick Jonas Perfect Moment

Priyanka, Nick invest in lux sportswear brand Perfect Moment

PRIYANKA CHOPRA AND HER POP STAR HUSBAND NICK JONAS have announced a joint investment in luxury fashion and sportswear brand Perfect Moment. This is the first time the couple has entered a business partnership together within the fashion industry, combining their entrepreneurial expertise and passion for skiing and the outdoors.

Jul 14, 2022 20:07

Sky Sports extends ECB media rights deal through to 2028

LONDON: Sky Sports and the England and Wales Cricket Board (ECB) have confirmed a new extension to their strategic partnership - a partnership now surpassing 30 years - which will see more live cricket on Sky Sports, more on free-to-air TV and further increased investment to help grow the game and get more people playing.

Subscribe to Investments