According to the company’s financial statements accessed by Tofler, the company’s revenue from financial operations under review increased by 38% to Rs.17,481 crore from Rs.12,664 crore a year earlier.
The company, which has a presence in television, digital, sports and films, surpassed revenue for the fiscal year 2020 of Rs. 14,337 crore.
Star’s entertainment business has been on the rise as the network has achieved leadership positions in the Hindi, Marathi, Bengali, Malayalam and Telugu markets. It is a strong player in the Tamil and Kannada markets as well.
Sports and digital activities also contributed greatly to the main line of the network.
Star India’s advertising revenue increased by 57% to Rs.10,496 crore from Rs.6,681 crore while subscription revenue grew by 11% to Rs.6,130 crore from Rs.5,502 crore.
The company’s profit from content rights licensing posted a 77% increase to Rs. 830 crore from Rs. 470 crore, and revenue from theatrical distribution of films doubled to Rs. 26 crore from Rs. 11 crore.
Total expenses jumped 41% to Rs.15,653 crore from Rs.11,124 crore. Employee benefits expense increased by 12% to Rs. 1,119 crore from Rs. 1,003 crore.
Star India’s net worth was Rs 16,802 crore during the financial year.
The company’s rights/program cost increased by 55% to Rs. 10,186 crore from Rs. 6,561 crore. License fees increased by 16% to Rs. 914 crore from Rs. 786 crore.
Star India declined to comment on the financial statements.
During FY22, the company had a strong sports line-up with events like Indian Premier League (IPL), ICC T20 World Cup, Duos Cricket, Indian Premier League and Pro Kabaddi.
FY 22 was a mixed bag for Indian broadcasters as the first half of the financial year was affected by the second wave of Covid-19 followed by a booming festive season.
Industry subscription revenue remained under pressure due to blockades on channel pricing caused by litigation over New Tariff Order (NTO) 2.0.
As recently reported, Star India-controlled Novi Digital Entertainment, the company that includes streaming platform Disney + Hotstar, narrowed net loss for FY22 by 43% to Rs.343.16 crore from Rs.600.77 crore as compared to the previous financial year.
Revenue from operations for the financial year under review grew by 93% to Rs. 3,220.41 crore from Rs. 1,670.63 crore a year earlier. Advertising revenue more than doubled to Rs.1,684.31 crore while subscription revenue increased by 65% to Rs.1,373.61 crore.