Reliance Industries-owned Network18 has posted operational revenues of Rs 902.9 crore in the quarter ended March 31, 2016 (Q4 FY16), up by 7.3% YoY, from Rs 841.4 crore in Q4 FY15. In the preceding quarter, revenues stood at Rs 905.60 crore, a minor decline of 0.3%.
Net losses, however, widened marginally this quarter to Rs 3.7 crore from Rs 2.14 crore in the preceding quarter. Losses had been reducing at Network18. The company had reported a net loss Rs 27.43 crore in the quarter ended September 2015 (Q2 FY16).
On a standalone basis, Network18’s web business reported revenues of Rs 13.81 crore. This was a decline of 8.72% from Rs 15.13 crore in the same quarter last year, and a decline of 4.5% from Rs 14.46 crore in the preceding quarter.
The segment reported a loss of Rs 7.19 crore compared to the profit of Rs 1.21 crore in the same period last year. In the preceding quarter, the segment reported a loss Rs 4.2 crore.
Media and film distribution operations
Network18’s media operations generated Rs 895.30 crore revenues, up 6.5% from Rs 840.62 crore in the same quarter last year. The company had reported media operations revenues of Rs 895.02 crore in the preceding quarter. Media operations accounted for 99.12% of Network18’s total revenues.
Film production and distribution business generated Rs 23.4 crore, as opposed to Rs 4.8 crore in the same quarter last year and Rs 10.57 crore in the previous quarter.
– In April, Flipkart exec Manish Maheshwari joined Network18 as the CEO of Web18, where he will lead digital and ecommerce assets, audience growth, content monetisation, business development, inorganic growth, mergers & acquisitions and product management.
– Earlier this month, IBNLive.com was rebranded as news18.com and the CNN-IBN channel will be rebranded as CNN News18. News18 was launched in January 2014, as a news site which focused on states, and aggregated news from the ETV Network, which the Network18 group had acquired. Now News 18 will be called Pradesh 18 and is available in English, Hindi, Urdu, Gujarati and Bengali.
– Network18 attracted over 25 million unique visitors per month in Q4 FY16. Moneycontrol.com had 242 million average monthly page views and over 4 million average unique visitors per month. IBNLive registered close to 2.7 million average unique visitors per month, while Firstpost got close to 6.9 million average unique visitors per month and over 35 million average monthly page views.
– Firstpost mobile app introduced during the year gained 5.9 million average visitors per month along with 24 million average monthly page views.
– Bookmyshow had over 65 million visits on average per month in Q4 FY16. The average page views grew to 1.8 billion per month for the quarter. The BookMyShow wallet activations crossed 3 million users in this quarter.
– The customer base of Homeshop18 crossed 17.9 million in Q3FY16.