TV18 blames the Union Budget for poor second-quarter performance!
Elections are the most coveted event for TV news channels and Union Budgets are what business TV channels look forward to. Their viewership shoots up on those occasions—it’s no wonder that TV channels advertise heavily the coverage of Union Budget as an event. That is when they hope to rake in the moolah. This is widely known to the investor community. Therefore it comes as a shock that CNBC blames the just-released poor performance of its September quarter on the Union Budget of July. Raghav Bahl, managing director, Network 18, has said just this in an interview to his own channel.
 
“Unfortunately, the last quarter was a quarter in which we had a budget and we also had a couple of competitive launches in that quarter. So, our cost level has also gone up,” said Bahl to CNBC. In September 2009 quarter all business news channels broadcasted both these events with much fanfare. If revenues don’t come from such mega events why does CNBC advertise them so much?
 
In the March quarter when TV18’s news operations reported a 36% decline in revenues of its news broadcasting business, IDFC-SSKI had blamed the poor performance on the fact that time there was no Union Budget which is normally held in February and boosts the March quarter results.
 
TV18’s news operations reported a loss of Rs33.10 crore for the September quarter which takes the loss in the first half to Rs61.38 crore. Loss for the year ended March 2009 was Rs166.36 crore. The news operation was the only bright spot in an array of lossmaking businesses of the TV18 group— Newswire, Web business and Infomedia—until 2008.
  • Like this story? Get our top stories by email.

    User

    Real No. 1?
    Domestic consumer products companies are relentlessly catching up with bigger foreign rivals. Now, in a major victory, Godrej No.1 has overtaken HUL’s Lifebuoy and Lux in the north Indian market (annual sale of Rs5000, crore), according to AC Nielsen, a market research firm. The company is working towards doubling its market share of Godrej No 1 (market share of 4% in terms of volume and 8% in...
    Premium Content
    Monthly Digital Access

    Subscribe

    Already A Subscriber?
    Login
    Yearly Digital Access

    Subscribe

    Moneylife Magazine Subscriber or MAS member?
    Login

    Yearly Subscriber Login

    Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
  • MTN's India affair continues; ties up with IMImobile for content delivery
     MTN has tied up with software and managed services provider IMImobile Pvt Ltd to provide mobile and online content to its subscribers across Africa and the Middle East. No financial details were provided.
     
    "IMImobile's value proposition and technology solutions will enable MTN to reduce the time-to-market for new services, boost average revenue per user (ARPU) and keep MTN at the forefront of innovative services," said Nozipho January-Bardill, group corporate affairs executive, MTN.
     
    In a release, MTN said this tie-up would enable it to launch new income-generating voice and data services across its global footprint, with revenues from mobile content and services estimated at around $150.20 billion in 2011, up from $89.30 billion in 2006, worldwide.
     
    One of MTN's new content streams will be the 2010 FIFA World Cup of which the mobile operator has exclusive global mobile content rights. Accordingly, MTN will leverage its IMImobile partnership to deliver exclusive 2010 FIFA World Cup content on subscribers' handsets, including soccer match news, fixtures, match results as well as team and group profiles, the release added.
     
    India-based IMImobile provides converged mobile and online technology platforms and content services to mobile operators and media companies around the world. Bharti Airtel, Vodafone, Virgin Mobile, Google, Reuters and Yahoo! are some of its major clients.
    -Yogesh Sapkale [email protected]
     
  • Like this story? Get our top stories by email.

    User

    We are listening!

    Solve the equation and enter in the Captcha field.
      Loading...
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email

    BUY NOW

    online financial advisory
    Pathbreakers
    Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
    online financia advisory
    The Scam
    24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
    Moneylife Online Magazine
    Fiercely independent and pro-consumer information on personal finance
    financial magazines online
    Stockletters in 3 Flavours
    Outstanding research that beats mutual funds year after year
    financial magazines in india
    MAS: Complete Online Financial Advisory
    (Includes Moneylife Online Magazine)