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Prabhudas Lilladher Report
In our interaction, management of Sun TV Network Ltd. highlighted -
1. plans to spend Rs 2 billion towards Sun NXT (over-the-top offering) and Rs 3-4 billion towards producing eight new movies which are scheduled to release in next 12 months (release timeline can be delayed due to second strain of Covid-19)
2. Indian Premiere League is likely to yield pretax profits of approximately Rs 1.2 billion/Rs 1.3-1.4 billion in FY21/FY22 respectively and
3. pressure on ad-revenues in FY21 (~25-30% YoY decline is on the cards).
Fresh programming has begun in most geographies and as a result ad-volumes (general entertainment channel and movie genre) have gradually clawed back to pre-Covid-19 levels.
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