BARC reports net profit of Rs 20 crore in FY 2024
The revenue of BARC fell marginally by 0.6 percent to Rs 319 crore in FY 24 from Rs 321 crore in FY 23
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TV audience measurement body, The Broadcast Audience Research Council (BARC) has reported a 44 percent drop in its net profit to Rs 20 crore in fiscal year 2024, according to media reports.
The revenue of the industry body fell marginally by 0.6 percent to Rs 319 crore in FY 24 from Rs 321 crore in FY 23.
BARC charges a fee based on the fixed percentage of advertisement revenues, helping maintain stable cash flow.
According to a report by the Economic Times, BARC's bar-o-metre reported a 60 percent decline in profit for FY 24 to Rs 2 crore with revenue slashing 2 percent to Rs 105 crore.
Separately, Storyboard18 reported that BARC is geared up to launch its first-ever measurement survey for Connected TV (CTV) consumption in India. BARC has identified the premium households and will be holding a series of meetings with the OTT players. The premium panels will be installed by April 2025.
The BARC had ordered over 5,000 premium panels to measure CTV consumption in the country. The BARC was facing a roadblock in identifying premium households.
BARC has constantly been trying to make TV audience measurement more holistic. They already have close to 55000 home panels after adding 25000 new panel homes to their existing roster.
With the expanded measurement, BARC can comprehensively understand linear TV and CTV consumption trends and offer deeper insights into audience engagement across platforms, which will benefit the advertising ecosystem.
