The TV and digital news businesses of TV18 Broadcast Limited and Network 18 Media and Investments clocked healthy growth in the quarter ended September 30, 2023, despite the continued weakness in the advertising environment.
The revenue of TV18 news, India’s largest TV news network, grew by 20 percent to Rs. 357 crore in the second quarter of the current fiscal, from Rs. 298 crore in the same period last fiscal. The increase in revenue comes on the back of strong viewership gains achieved by the network’s No.1 channels.
Operating EBITDA of the TV 18 news segment turned positive to Rs 10 crore from a loss of 5 crore in the year-ago period.
TV 18 news’ revenue growth was underpinned by the strong viewership share that the network has achieved over the last eighteen months which has helped it to improve pricing across the network. TV18’s sharp focus on building IP-events business has also helped it drive growth in revenue.
Segment-wise, TV18 News continued to be the highest-reach television network in the country, reaching around 190 million people in India every week. The network maintained its leadership position in key markets with CNBC TV18, News18 India, and CNN News18 being the number 1 ranking channels in their respective genres.
All India viewership share from the news network stood at 11.4 percent. News18 was the highest reach network reaching approximately 190mn consumers on a weekly basis. CNN News18 was the no 1 English news channel with a 32.8% market share in the genre. CNBC TV18 continued to be the undisputed leader in the English Business News genre with an 80% overall share and 95%+ viewership share during market hours.
The digital news business of TV18 and Network18, which include brands such as Moneycontrol, Firstpost, cnbctv18.com and news18.com, also saw a 20% increase in revenue.
It posted a revenue of Rs 104 crore in the second quarter of the current fiscal, as compared to Rs 87 crore for the same period last fiscal.
Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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