Average set of numbers, digital revenues doing well but traditional revenues again hit. Here are my notes from their concall.
- Expenditure on new ventures was ~20cr. in this quarter (up from earlier levels of 16cr.). Expenditure will depend on cash being generated from core business rather than borrowings
- Digital revenue breakup (47.6 cr.):
o Youtube: ~66% (~31 cr.)
o Telco <10% (~4 cr.)
o Syndication & ShemarooMe: remainder
o Got into a strategic tieup with spotify for Bhagvad Gita podcast - Confident of breaking even in the two TV channels in FY23
- Debt is 248 cr., inventory has come down to 700 cr.
- Ranking and ratings of MarathiBana has remained stagnant due to launch of new peer (Sun Marathi). 4 marathi channels in the free domain
- Shemaroo TV has got more traction
- 9MFY22: Advertising led business has grown faster than industry (35%+) but subscription based business has degrown significantly. Syndication business has shown minor growth
- ESOP approval has been taken to attract new talent
- Continuously invests into new initiatives, like launched dubbed Korean content on TV
Disclosure: Invested (position size here)