A new high definition (HD) TV channel is to be launched by Reliance Broadcast later this year, along with two new channels through its joint venture with European entertainment group RTL, according to local reports.
"The new HD channel will have selected content from all three channels that we have under the BIG CBS network," Nikhil Mirchandani, business head, television channels," told reporters.
Subscription revenue for the premium network is also expected to rise 15% by January 2012, buoyed by more viewers seeking the new content BIG CBS has acquired, he added.
Advertising currently provides 90% of revenues earned by Reliance Broadcast, with the remaining 10% coming from audience subscriptions via cable and satellite TV platforms.
According to reports in August, Reliance Broadcast – which also has radio interests - believes its television business will be a major driver for growth in the coming years, and should turn profitable by 2015. An additional 20% is forecast to be added to company revenues by the end of the financial year 2012.
Reliance Broadcast's marketing expenditure in 2013 will reportedly amount to INR 200 million for its television arm, while INR 500-600 million will be invested in television activities in the 2012 financial year.