SONY PICTURES NETWORKS INDIA (SPNI) delivered a strong financial performance in FY26, reporting a 38.7% year-on-year increase in EBITDA to ₹873 crore and a 16% rise in consolidated net profit, driven largely by a cricket-heavy sports calendar, robust advertising growth and disciplined cost management. The results mark a sharp turnaround for the broadcaster after a challenging FY25, when profits had declined amid a weak advertising market.
According to regulatory filings with the Ministry of Corporate Affairs, SPNI’s consolidated net profit increased to ₹556 crore in FY26 from ₹481 crore in the previous financial year. Revenue from operations rose 9% year-on-year to ₹6,830 crore, while total income grew 9.4% to ₹7,064 crore. Advertising revenue emerged as the biggest growth driver, rising 19% to ₹3,165 crore during the year.
The broadcaster’s sports business played a central role in the improved financial performance. SPNI benefited from a packed cricket calendar, led by the 2025 Asia Cup, which featured three India-Pakistan matches and concluded with India lifting the title. The tournament generated strong television audiences and advertising demand, significantly boosting the network’s sports revenues.
SPNI also broadcast India’s Test tour of England and strengthened the commercial viability of its sports rights portfolio by sublicensing the digital streaming rights to JioHotstar. The arrangement enabled the broadcaster to recover a portion of its sports rights investment while extending the reach of its cricket content across digital platforms.
Despite the strong overall performance, subscription revenue declined 4% to ₹3,254 crore due to distribution-related disputes and continued pressure on the pay television ecosystem. However, disciplined spending on content and operations helped offset the impact of lower subscription income, contributing to the sharp improvement in EBITDA and profitability.
The results represent a significant recovery from FY25, when SPNI experienced a 45% decline in net profit because of a difficult advertising environment. The return of marquee cricket properties, combined with stronger advertiser demand, enabled the broadcaster to reverse that trend and restore earnings growth.
From a sports business perspective, the performance once again underlines the commercial value of premium cricket rights in India’s broadcast market. Major international tournaments continue to attract substantial advertising investments, making sports content one of the most effective drivers of revenue growth for television networks. SPNI’s FY26 results also demonstrate how broadcasters are increasingly maximising returns from expensive sports rights through a combination of television broadcasts, digital sublicensing and disciplined cost management.
