Network18 posts revenue growth despite subdued ad market

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• Network18 revenue rose 5 percent in Q3 despite TV ad demand decline
• TV viewership rose to 14.2%; digital reach hit 300M users
• Moneycontrol Pro remains India's largest digital news subscription platform

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Network18 Media and Investments Ltd reported a 5 percent rise in revenue in the December quarter from a year earlier, showing steadiness in its core media business despite macroeconomic pressures that weighed on advertising demand across the television news industry.

Operating revenue from the news business rose to Rs 500.4 crore in the fiscal third quarter from Rs 476.4 crore in the year earlier, supported by Network18’s diversified portfolio across languages and platforms.

While advertising inventory demand for the TV news industry declined by more than 10 percent from a year earlier, the fall in Network18’s own inventory utilisation was lower, helping it outperform the market, the company said in a statement on Wednesday.

Operating EBITDA of the news business stood at Rs 11.8 crore in the December quarter, with margins expanding sequentially to 2.4 percent from 1.5 percent in the preceding three months, reflecting prudent control on expenses.

“Once again, we have demonstrated that we continue to defy industry trends by delivering a resilient performance amidst a challenging macro environment," said Adil Zainulbhai, Chairman of Network18. "We hope that the positive steps taken by the government over the last few months to boost consumer spending will translate into increased consumption, which will benefit companies like ours. Meanwhile, we continue with our unwavering focus on strengthening our position as India’s premier news destination.”

Network18 continued to strengthen its leadership position across television and digital platforms during the quarter.

The network retained its status as the number one news network in India, with TV viewership share rising to 14.2 percent, up 110 basis points year-on-year, and a monthly digital reach of about 300 million users. It continued to be a leader in key national and regional markets, including Hindi, English, Marathi, and Kannada, while maintaining a strong position in Bengali and several Hindi-speaking regions.

Digital remained a key growth driver. Network18 said it continues to be the largest digital news network on YouTube, recording over 16 billion video views during the quarter, more than 2.5 times that of the nearest rival.

The company also renewed its partnership with CNN International for another 10 years, a move it said would further strengthen its position in the English news segment and expand its digital footprint globally.

Moneycontrol, the country’s top financial news and markets platform, delivered a strong quarter, marked by deeper user engagement and subscription growth. The platform recorded twice the page views and more than three times the time spent compared with its nearest rival, driven by its comprehensive coverage of the economy, businesses, and capital markets, along with advanced tools for investors.

Moneycontrol Pro continued to be India’s largest digital news subscription platform with more than 1 million paid subscribers. Newer offerings, such as the ‘Ask the Expert’, a live interaction with SEBI-registered experts, allow subscribers to get answers to their stock-related queries in real time. Moneycontrol Super Pro, the premium, intelligence-led markets product, continued to generate strong consumer traction and is ramping up its subscriber base. Moneycontrol’s lending business also saw a sharp growth during the quarter.