Sun TV Network's Cricket Franchise Revenue to Rise Substantially

New Delhi, Sep 4 (PTI) Sun TV Network expects the contribution from its cricket franchise SunRisers Hyderabad will rise "substantially", supported by "incremental" revenues from the movie distribution business, according to the latest annual report of the broadcaster.

Sun TV Network, which forayed into the Hindi language with Sun Neo -- a general entertainment channel in FY24 -- and moved into Bangla and Marathi languages, "is confident of its ability to withstand and overcome competition based on its stronghold in delivery of content" in these markets.

Sun TV group, promoted by the Maran family, owns the Indian Premier League (IPL) team franchise SunRisers Hyderabad. It also owns SunRisers Eastern Cape of Cricket, a team from South Africa's T20 league.

Its revenue from cricket franchises went over two-fold to Rs 659.03 crore in FY 2023-24. This was at Rs 276.01 crore a year ago.

Its revenue from movie distribution and sale of rights was up 24.13 per cent to Rs 313.46 crore in the financial year ended March 2024.

Besides, Sun TV Network continues to expand its presence across genres like general entertainment, movies, music, news, and kids in the four core southern states of Tamil Nadu, Kerala, Karnataka and Andhra Pradesh.

"In the coming years it is expected that the contribution of revenues from the cricket franchise will rise substantially further supported by incremental revenues from movie distribution," said Sun TV while discussing the outlook.

Now Sun TV operates 37 satellite television channels across seven languages of Tamil, Telugu, Kannada, Malayalam, Bangla, Marathi and Hindi.

In FY24, it added four new channels to its bouquet -- Sun Marathi HD, Sun Bangla HD, Sun NEO, and Sun NEO HD

"In recent years Sun Network has already expanded its horizon beyond the southern states and moved into Bangla and Marathi languages and moving now to Hindi language and is confident of its ability to withstand and overcome competition based on its strong hold in delivery of content," it said.

The company also expects its Diret-to-Home service Sun Direct would maintain a "positive momentum" with increased subscriber base in the coming years.

"This may be achieved by the drive initiated or to be initiated by the government towards digitalization and addressability for cable television which would help Sun TV Network, being the largest regional television network, to be one of the major beneficiaries of the recent growth in the DTH space," it said.

The total income of Sun TV Network for the year ended March 2024 was at Rs 4,630.19 crore. The Chennai-based company is debt-free and has no loan funds.

Promoter Kalanithi Maran owns a 75 per cent shareholding of Sun TV Network.