Network18 TV news biz revenue up 28% in Q4 FY24
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1 month ago 06:00:21am Television

Network18 TV news biz revenue up 28% in Q4 FY24

New Delhi, 19-April-2024, By IBW Team

Network18 TV news biz revenue up 28% in Q4 FY24

Media company Network18’s TV news business recorded a jump of 28 percent in its revenue in the fourth quarter of FY24, while India’s largest television news network yesterday said it registered a revenue of Rs 461 crore in the last quarter of FY24 ending March 31.

Its revenues for the same period last year was Rs 360 crore.

According to a press release issued by Network18 yesterday, the revenue for the full fiscal stood at Rs 1,556 crore, as compared to Rs 1,252 crore in FY23.

The TV news business delivered a strong performance, demonstrating its readiness to leverage a strong operating position in the election season. The network has been able to increase its ad rates steadily on the back of solid performance in terms of viewership.

The news network said it continues to have the highest reach for TV news in the country, reaching 175 million people around the country every week.

With leadership positions across key markets, the network delivered industry-leading growth in display advertising. Monetisation of IPs and events also witnessed a strong revenue traction, it said

The network maintained leadership positions in key markets with CNBC TV18 being the number one business channel garnering 64.3 percent viewership share, News18 India has been the number one Hindi news channel in evening primetime with viewership share of 14.0 percent and CNN-News18 continues to be the number one English news channel for more than two years with over 33.3 percent viewership share.

The news network has had leadership in four regional markets of UP/Uttarakhand, Bihar/Jharkhand, Gujarat, and Jammu/Kashmir/Ladakh/Himachal. Its channels in West Bengal, Rajasthan, and Punjab/Haryana have also been strong number two players.

Along with News18 Bangla, which has seen a significant improvement in ranking during the year, News18 Lokmat has firmly established itself as a strong number three player, the network added.

Digital news business witnessed a 40 percent growth in Q4, posting a total revenue of Rs 131 crore as compared to Rs 94 crore for the same quarter in FY23.

For the full financial year also, the digital news business saw an upside with revenues touching Rs 425 crore, as compared to Rs 356 crore in FY23.

The digital news portfolio continued to be a strong number 2 digital news publisher in the country with 180 million plus unique visitors every month.

Moneycontrol continued to be the number one player in terms of both reach and engagement metrics. Moneycontrol Pro crossed 7.5 lakh paid subscribers, making it the top subscription-based news platform in India and amongst the top 20 globally as per FIPP’s Digital Subscription Report, the news network stated.

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