Network18 Media & Investment Ltd on Tuesday (January 14) reported a 2% year-on-year (YoY) increase in news business operating revenue at ₹478 crore for the third quarter that ended December 31, 2024. In the corresponding quarter of the previous fiscal, news business operating revenue stood at ₹469 crore, the company said in a regulatory filing.
| Company | Value | Change | %Change |
|---|
Operating EBITDA margin stood at 2% in the reporting quarter compared to 5% in the same quarter last fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
Network18’s news business revenue grew marginally as the advertising environment continued to be lukewarm. Despite the festive period, consumer demand did not experience a meaningful pickup, leading to brands holding back on advertising spending.
Advertising volumes in the TV news industry showed a slight uptick on a quarter-on-quarter (QoQ) basis but declined by 11% YoY, putting pressure on revenue growth. However, the digital segment continued to see growth in advertising revenue, albeit from a lower base.
Also Read: Shoppers Stop Q3 Results | Net profit jumps 42% to ₹52 crore, revenue up 12%
Operating expenses grew by 4% YoY during the quarter, contributing to a decrease in EBITDA. Despite this, the nine-month period ending in FY25 saw a sharp improvement in EBITDA, driven by a 7% growth in revenue compared to a 4% rise in costs.
Network18’s TV news network maintained its leadership position in key genres, with its viewership share improving by over 100bps. The network’s share has increased by approximately 50% since March 2022.
With a portfolio of 20 channels, Network18 continues to hold the position of the highest-reach TV news network in India, reaching over 180 million people weekly across the country. Its all-India viewership share rose by 110 bps QoQ to 13%, driven primarily by growth in regional channels.
Network18’s digital portfolio, including Moneycontrol, News18, and Firstpost, solidified its position as one of the leading digital news publishers in India. Moneycontrol Pro crossed one million subscribers, reinforcing its status as the country’s largest paid digital news platform.
Also Read: Hathway Cable Q3 Results | Net profit slides 39% to ₹14 crore, revenue inches up
The digital portfolio maintained its position as the second-highest-reach digital publishing network, with approximately 215 million monthly unique visitors. Moneycontrol was the No.1 player in terms of unique visitors, surpassing competitors with more than twice the page views and nearly 60% higher time spent, cementing its dominance in engagement.
Adil Zainulbhai, Chairman of Network18, said, “The restructuring of the business is now complete, simplifying the corporate structure for all our stakeholders. We are pleased with the progress made on the operating front, especially the manner in which our television network is growing.”
Also Read: Delta Corp Q3 Results | Net profit up 4% to ₹36 crore, revenue dips 8%
Viacom18’s business merger with Star India became effective on November 14, 2024, forming one of India’s largest broadcasting and streaming entities. Reliance Industries (RIL) invested ₹11,500 crore in the joint venture (JV) to fuel its growth strategy.
Following the merger, Viacom18 holds a 46.82% stake in the JV, with RIL holding 16.34% and Disney 36.84%. As of December 30, 2024, Viacom18 ceased to be a subsidiary of Network18 after RIL converted its compulsory convertible preference shares (CCPS) into equity, leaving Network18 with a 16.12% equity stake in Viacom18, or 13.54% on a fully diluted basis.
Shares of Network18 Media & Investments Ltd ended at ₹61.49, up by ₹1.61, or 2.69%, on the BSE.
Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
