Network18 Digital has appointed Avinash Mudaliar as its Chief Product Officer. He will be responsible for all of Network18’s digital properties, including online publication Firstpost.com, finance and investment portal Moneycontrol.com, news portal News18.com, Cricketnext.com, and Tech2 among others. Mudaliar confirmed this to MediaNama.
This is a return to the Network18 (then Web18) family for Mudaliar. He had been part of the team that had launched In.com and had also served as the first editor-in-chief.
He joins from Saregama India Ltd., where he had been serving as the Vice President – product, technology and IT. He had joined Saregama as the Head of Internet Products and Services, back in August 2013. Prior to that he has worked with Times Internet Limited (TIL), where he co-founded the music streaming service Gaana.com, and later headed it when the service was branched out as a separate company.
In May last year, Network18 had appointed Santosh Menon as Chief Content Officer to handle the digital businesses of the Network 18 group, including Moneycontrol.com, Firstpost.com, News18.com, Pradesh18.com, and In.com.
Network18 reported a decline in operational revenue to Rs 321.23 crore for the quarter ended June 30, 2017 (Q1 FY18), from Rs 351.18 crore in the same quarter last year. Consolidated net loss for the quarter stood at Rs 52.94 crore, as compared to Rs 50.52 crore in the same quarter last year. “While April-May witnessed robust revenue growth, June was substantially impacted by postponement in advertising spends; especially in mass-oriented genres,” the company said.
The company’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. More on separate businesses like Moneycontrol, News18 and Firstpost here.