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Network18 reports Rs 321.23 crores in revenues; GST hit

Network18 reported a decline in operational revenue to Rs 321.23 crore for the quarter ended June 2017 (Q1 FY18), from Rs 351.18 crore last year. Consolidated net loss attributable to the company (excluding non-controlling interest) for the quarter stood at Rs 52.94 crore compared to Rs 50.52 crore in the same quarter last year.

“While April-May witnessed robust revenue growth,” the company said, “June was substantially impacted by postponement in advertising spends; especially in mass-oriented genres.”

HomeShop18

Network18 said that growth of its broadcasting segment was partially offset by continued weakness in its TV shopping business, even though losses in the TV shopping business lowered. HomeShop18, the TV shopping business, continued to face challenges due to decline cash-on-delivery payments post demonetization, and “stiff competition from ecommerce”. The GST rollout, the company said, is positive for HomeShop18, since it will eliminate the issue of state entry taxes. “Management is keeping a tight leash on costs, and taking steps to revive the business.”

Web operations

On a standalone basis, Network18’s web business reported revenues of Rs 11.84 crores, down from Rs 16.05 crore last quarter, and from Rs 12.43 crores in the same quarter last year. The segment reported a loss before tax of Rs 9.44 crores, up from Rs 8.06 crore last quarter, and Rs 9.09 crore in the same period last year.

Moneycontrol.com

The company said that Moneycontrol got 19 million mobile monthly users, which is around 2.7 times the 7 million reported for Q4 last year. The company claimed that Moneycontrol had 1.5 times as many users on mobile than its nearest competitor, and consumed 2.8 times as many pages as the rivals users did. They didn’t name the rival. In may, the Moneycontrol app crossed 2 billion screen views.

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News18 & Firstpost

News18 crossed 50 million unique users across mobile and desktop, up 60% growth in average monthly unique users on desktop, and 120% on mobile as compared to the last quarter. Firstpost apparently recorded its highest ever users on both desktop and mobile. “Average monthly mobile UVs [Unique Visitors] exhibited a growth of ~40% over the previous quarter, and average monthly desktop users grew by 20% for the same time period”

BookMyShow

BookMyShow reportedly crossed 5.4 million app installs (as compared to 4 million last quarter). Its Music “Jukebox”, launched June 2017, saw over 80,000 song downloads during that month. BookMyShow Indonesia’s business reportedly grew 2.3x in Q1. It reported 1.6 million average pageviews for the quarter. Note that Network18 sold Burrp to BookMyShow as a slump sale, for Rs 6.7 lakhs. It had acquired Burrp in 2009 for Rs 4.25 crores.

Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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