Novi Digital Entertainment has posted a massive loss of Rs. 489 crore this FY. The company, which houses Star India’s video on demand (VoD) platform Hotstar, faced 20% greater loss than last fiscal. Its revenue from operations increased 81.4% to Rs 321 crore from Rs 178.5 crore in FY16. In 2017, Star India had injected Rs 1233 crore ($192.04 million) into the company.
The only bright thing was that its subscription saw a four-fold increase to Rs 129.4 crore from Rs 24.17 crore while ad revenue was up 24% , while the advertising revenue jumped 24% to Rs 168 crore from Rs 138.6 crore. The revenue from licensing of content rights stood at Rs 23 crore compared to Rs 19.2 crore in FY16.
In FY16, the company’s content cost stood at Rs 165.9 crore while advertising and the promotional cost was at Rs 154.6 crore. The expenditure for technical services was Rs 147.5 crore.
Source: http://cablequest.org/index.php/news/new-media/item/12872-novi-digital-registers-rs-489-crore-loss-this-fy
In FY16, the company’s content cost stood at Rs 165.9 crore while advertising and the promotional cost was at Rs 154.6 crore. The expenditure for technical services was Rs 147.5 crore.
Source: http://cablequest.org/index.php/news/new-media/item/12872-novi-digital-registers-rs-489-crore-loss-this-fy
No comments:
Post a Comment