Digital
Leading with purpose creates wins for consumers, community and country: Hina Nagarajan of Diageo India
Sony Pictures Networks India (SPNI) has reported a 19% decline in its net profit to reach Rs 839 crore and a 3% decrease in revenue from operations to Rs 6,510 crore in FY24.
The company also witnessed a 11% decline in its advertising revenue to reach Rs 2,912 crore in the same fiscal. Meanwhile, the advertising and promotional expenses rose by 2%, climbing Rs 882 crore. Additionally, the company's content costs declined by 3% and stood at Rs 2,936 crore.
According to the regulatory filings, SPNI's total expenses stood at Rs 5,548 crore.
It is to be noted that during the same fiscal, Culver Max Entertainment Pvt. Ltd. (CMEPL) operating as SPNI also terminated its planned merger with Zee (on January 22).
Both media companies now have reached an amicable settlement, resolving all disputes about the merger cooperation agreement and scheme of arrangement.
The fiscal year also saw Gaurav Banerjee taking over from NP Singh as the Managing Director and Chief Executive Officer (CEO) at SPNI.
At the Storyboard18 DNPA Conclave 2025, Union Minister Ashwini Vaishnaw spotlighted the critical role of traditional media in an evolving digital landscape. He emphasized that such gatherings can aid the govt in formulating more effective policies for a balanced and sustainable media ecosystem.
Read MoreFrom the chiefs of Nestle, Diageo, Colgate, PepsiCo, Zetwerk and CRED to AI visionaries, marketing mavens, top creators, ad legends and leading global agencies' CEOs, the brightest minds converged at the Storyboard18 Global Pioneers Summit for an action-packed day of meaningful dialogues on creativity, commerce and culture.