Sony Pictures Networks India, the official broadcasters of ongoing India’s tour of Australia in India, has earned profits of Rs 975.97 Crores during the fiscal period involving 2019/20. SPN has recorded a drop in Year on Year (YOY) total revenues but their profits have almost tripled in the time span.
Sony India has clocked revenue generations of Rs 5846.20 Crores in 2019-20. The revenues of broadcasters have dropped by 7.3 percentage in comparison to the last financial year. In the last financial year, i.e. 2018-19, SPNI clocked funds generation of RS 6309.90 Crores. According to the Registrar of Companies, the company has registered three-fold profits in this year, in 2018-19 Sony India generated revenue of Rs 346. 42 Crores.
As per Exchange 4 Media’s report, despite three-fold profits, the company’s advertising revenue dropped by 13.31 percent to Rs 2755.58 Crores in 2019-20 as compared to Rs3178.69 Crores of last financial year which ended on March 31, 2019. Meanwhile, the subscription income has grown by 21.17 percent to Rs 2378.75 Crores as compared to Rs 1962.99 Crores in the last Financial Year.
Sony India’s revenue share from distribution and advertising in the current Financial Year is RS 170.66 Crore, which is a 22.31 percent drop as compared to the last year. In the Financial Year 2018-19, Sony bagged RS 219.65 Crores from distribution and advertising. Apart from that, the SNPI’s digital and licensing income has also declined by Rs 403.62 Crore this year.
In November, prior to the Australian series, SNPI came into the limelight for bagging 15 sponsors for the series between India and Australia. These sponsors were generating close to Rs 400 crores for the network. The sponsor deals for the Australian series was the biggest revenue generation for the company in the current financial year. With more Sporting action on the way in 2021, Sony Pictures Network will be looking to post even better financial figures during next fiscal year.