Media Sector Q3 Earnings Preview: Recovery To Be Seen, Says ICICI Direct
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ICICI Direct Report
The media sector, as a whole, saw more positives compared to H1 FY21 during the festive quarter.
Broadcasters, in a relatively better position compared to peers, are expected to maintain subscription growth while advertisement volumes are also in a recovery mode. However, ad realisations continued to be a concern.
While reopening of cinemas was permitted from October 15 onwards, lack of new and big budget movies coupled with prevailing Covid-19 situation garnered a lukewarm response from the audience.
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