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Sun TV's income from movie distribution rises to Rs 223.36 crore in FY19

IBEF:  September 16, 2019

Sun TV's income from movie distribution has gone up to Rs 223.36 crore (US$ 31.95 million) in 2018-19 (FY19) from Rs 3 lakh (UD$ 4,292) in 2017-18, according to the company's Annual Report.

However, income from advertising and sales of broadcast slots grew from Rs 1,395.12 crore (US$ 199.61 million) to Rs 1,494.25 crore (US$ 213.8 million), income from subscription grew from Rs 1308.57 crore (US$ 187.23 million) to Rs 1499.60 crore(US$ 214.55 million), and income from the Indian Premier League grew from Rs 145.20 crore (US$ 20.77 million) to Rs 439.79 crore (US$ 62.92 million)  during the same period.

The cost of production, distribution, and related right has gone up from Rs 7.50 crore (US$ 1.07 million) in FY17 to Rs 213.71 crore (US$ 305.78 million) in FY19, while no additions were made during FY18, states the annual report.

The company has produced movies with a few high-budget ones starring superstar Rajinikanth and leading actor Vijay at its film distribution and production studio unit Sun Pictures. However, the company has also produced a low-budget horror comedy movie Kanchana III.

One movie is being produced and the company is expected to invest around Rs 100 crore in the segment, said the management in a recent analyst call.

The company also said that it used to have Rs 400-500 crore (US$ 57.23-71.54 million) for purchase of movies for its television channels but now it is reallocating some of the budget to movie production.

 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.