Revenues at Viacom18, the media arm of Mukesh Ambani’s Reliance Industries Limited (RIL), grew by 49% for the 2023-24 financial year on the back of sports and news. The company’s revenues reached Rs 10,826 crore ($1.3 billion) in FY24 as compared to Rs 7,266 crore ($872m) in FY23.
Per the company’s statement, sports was the biggest driver of revenue growth for Viacom18.
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) was significantly down however - from $28.3 million the previous year to $3.9m.
