Broadcasting & Cable TV company Network18 Media & Investments announced Q3FY24 results: Revenue Highlights: Consolidated revenue for the quarter decreased by 4% year-over-year (YoY) to Rs. 1,774 crore, primarily due to lower Movie Studio revenue. Standalone revenue for TV News (TV18) increased by 23% YoY, driven by advertising revenue growth across clusters. Entertainment (Viacom18+AETN18+Indiacast) revenue declined by 12% YoY, largely due to lower Movie and Sports segment revenues. Operational Performance: TV news network maintained strong positions with CNBC TV18 at over 80% viewership share, News18 India at 13.8% evening primetime viewership share, and CNN News18 at a 33.2% viewership share. Network18's digital properties such as News18.com and Moneycontrol maintained strong engagement metrics. Viacom1 8's Colors channel ended the year with over 200 GRPs, marking a significant increase since the fiscal start. Digital and OTT Growth: JioCinema has continued to consolidate its position as a leading OTT platform in India, offering an extensive catalog of entertainment and sports content. Merger Update: Network18 announced a scheme for merging TV18 and e-Eighteen.com (Moneycontrol) which is expected to create a large platform-agnostic media conglomerate. Adil Zainulbhai, Chairman of Network18, said, “We are pleased to have announced the merger of our TV and Digital news businesses, which will not only help us serve our consumers better and realize synergies across different segments, but it will also give a unique opportunity to all our shareholders to participate in the media business of the group through a single listed entity. All our businesses are gathering momentum at the right time as the economic outlook continues to improve against the backdrop of a resilient performance by the Indian economy. As we have stated in the past, we believe that the Indian media sector has a long runway for growth and our strong positions across segments give us a perfect launchpad to capture this opportunity.” Result PDF
Broadcasting & Cable TV company Network18 Media & Investments announced Q2FY24 & H1FY24 results: Financial Performance: - Network18 Media & Investments reported consolidated revenue of Rs 1,866 crore for the quarter ended September 30, 2023, showing a YoY growth of 20%. - Consolidated operating EBITDA for the quarter was Rs (218) crore, as the company made investments in growth businesses. - The operating EBITDA margin for the quarter was -11.7%. - For the half-year ended September 30, 2023, consolidated revenue grew by 77% YoY to Rs 5,104 crore, while consolidated operating EBITDA was Rs (303) crore. Highlights: - Viacom18 acquired the exclusive media rights for BCCI International and Domestic matches for the next 5 years, becoming the home of India cricket. - JioCinema, the OTT platform, witnessed record viewership for marquee entertainment shows, including the second season of Big Boss OTT. - TV18 News network maintained its leadership position in key markets, with CNBC TV18, News18 India, and CNN News18 being the top channels in their respective genres. - Viacom18 Studios delivered two blockbuster movies, Rocky Aur Rani Ki Prem Kahaani and OMG2. Adil Zainulbhai, Chairman of Network18, said, “We continue to take giant steps towards building the network of choice for Indian consumers. With India cricket rights, Viacom18 now has the biggest portfolio of sports properties, making it the default choice for sports fans. The digital transformation initiatives that we had commenced for our news business last year are gathering momentum and will help us to stay ahead of the curve as we go ahead. Our focus continues to be on providing quality content to audience and as India’s only network with presence across news, entertainment, and sports, we are in a unique position to serve customers across the country and demographic cohorts.” Result PDF
Broadcasting & Cable TV company Network 18 Media & Investments announced Q1FY23 results: Viacom18 sets a new benchmark in digital streaming – IPL total reach ~450 million, final match reach - 120 million, peak concurrency - 32 million, average per user watch-time - 60 mins JioCinema’s IPL advertising revenue is higher than TV as the platform takes digital reach and engagement to unprecedented levels TV News network delivered strong growth in revenue driven by leadership in key markets; continues to be #1 in the Hindi, English and Business news genres Consolidated revenue for the quarter grew 142% YoY to Rs 3,239 crore, driven by the performance of IPL on JioCinema; Advertising environment continues to be soft with improvement in some pockets Adil Zainulbhai, Chairman of Network18, said: “The year has started on a blockbuster note with our digital initiatives delivering phenomenal results. The transformation to a digital-first approach has become a reality and we will continue to lead this effort at scale. We have made some key leadership hirings recently which will help the Group push through to the next phase of growth and help us reach our ambition of becoming the largest and most admired media-tech company in the country. With talent, resources, and technological capabilities at our disposal, we look forward to driving long-term growth across all our businesses.” Result PDF