Mumbai: Network18 Media and Investments Ltd reported consolidated operational revenue of Rs 3,141 crore for the quarter ending 30 June, fueled by impressive performances in the sports and news segments. The company's digital portfolio also expanded in both reach and engagement.
Network18 stated that its subsidiary Viacom18 has continued to invest in the sports and news sectors to drive future growth. The company noted that even though these segments are still in the development phase, they have rapidly achieved a strong brand presence and consumer recognition.
TV News portfolio delivered 30 per cent advertising growth during the quarter. The network leveraged its leadership positions across key markets and election-linked advertising tailwinds to deliver industry-leading ad growth. EBITDA for the quarter saw a turnaround as revenue grew 14 per cent while costs were flat. The TV news network posted EBITDA of Rs 40 crore in Q1FY25, a 46 per cent increase (YoY).
JioCinema achieved record digital IPL viewership during the quarter. IPL 2024 reached 620 million viewers, marking a 38 percent increase from the previous year. "Engagement also saw a significant rise, with audiences spending a total of more than 350 billion minutes watching the most popular annual sports event, over 50 percent higher than last season," the company reported.
Meanwhile, Network18 group's digital brands solidified their leadership positions over the quarter, experiencing a substantial rise in monthly unique visitors. "With approximately 250 million unique visitors, Network18 narrowed the reach gap with the leader to about 10 percent, down from over 50 percent in March 2023," the statement revealed.
Network18's digital news business recorded a 34 per cent growth in Q1FY25, with total revenue reaching Rs 109 crore compared to Rs 81 crore in the same quarter of FY24.
The digital news portfolio of Network18 experienced a significant increase in monthly unique visitors. With 250 million unique visitors, Network18 narrowed the reach gap with the leader to just 10 per cent, down from over 50 per cent in March 2023.
Moneycontrol maintained its position as the top player in both reach and engagement metrics, driven by comprehensive coverage of economic and market-related topics. Key engagement metrics such as monthly page views, time spent, and sessions were 20 per cent-70 per cent higher than those of the nearest competitor.
Moneycontrol Pro surpassed 8.1 lakh paid subscribers, solidifying its status as the leading subscription-based news platform in India and one of the top three in Asia, according to FIPP's Digital Subscription Report.
News18.com established itself as the leading platform for non-English language consumers in India during the last quarter. The platform's reach expanded significantly due to editorial and product initiatives, resulting in a 50 per cent increase in monthly average unique visitors quarter-on-quarter and a 100% year-on-year growth in on-platform video views. News18's mobile app saw an increase in MAUs, and the News18 Connected TV app was launched for platforms like Android, Samsung Tizen, and Firestick.
Firstpost's coverage of international events from an Indian perspective continued to drive reach and engagement throughout the quarter. The platform saw a 67 per cent increase in monthly active users and page views following the launch of its revamped website. On counting day, the website's traffic doubled compared to normal days, with time spent increasing fourfold. Firstpost's growth on YouTube also continued, with the subscriber count surpassing the five million mark.
