ICICI Direct: Sun TV Q2 Review - Faster Ad Recovery, Digital Ramp-Up Key Ahead
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Sun TV Network Ltd.’s Q2 FY21 numbers were below our expectations as subscription revenue, although maintaining growth momentum, was lower than anticipated while advertisement revenue recovery was slower.
Ad revenues at Rs 245 crore, were down 27.3% YoY, as ad spends by corporates is yet to pick up fully post lockdown.
Subscription revenues continued to remain strong with growth of 13.7% YoY at Rs 427 crore.
Excluding-Indian Premier League revenue fell 8.1% YoY to Rs 711.2 crore.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.