Reliance Industries (RIL) chairman and managing director Mukesh Ambani addressed the 45th annual general meeting (AGM) today, 29 August 2022.
"Our media business achieved its highest growth last year on the back of strong engagement, resulting in record subscriptions and advertising revenues," Mukesh Ambani said."Our national channels, CNN-News18, CNBC-TV18, and News18 India are consistently ranked Number 1," he added.
"Moneycontrol is among the world's most popular subscription products. Our news brands are innovating with novel story-telling methods across platforms, building deeper relationships with audiences - wherever they are and whatever device they use."
"Our Entertainment arm, Viacom18 consolidated its leadership position with a high-decibel entry into Sports, bagging digital rights of IPL for 5 years. Along with key sporting rights in Football, Badminton, Basketball, and Tennis, there is now Cricket. Viacom18 is also aggressively investing in movie rights and original content for OTT," he stated.
Ambani added: "In News, Entertainment, and Sports, digital is a core and fast-growing theme as we prepare to embrace the 5G revolution. Our partnership with Bodhi Tree, James Murdoch, Uday Shankar and Paramount Global will help Viacom18 with additional talent bandwidth and enable us to create a world-class Media & Entertainment business."
RIL is India's largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.
RIL reported 40.8% increase in consolidated net profit to Rs 19,443 crore on 56.7% increase in net sales to Rs 2,19,304 crore in Q1 June 2022 over Q1 June 2021.
Shares of RIL fell 0.72% to Rs 2600 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
