Network18 reported total consolidated revenues of Rs 845 crores for the quarter ending March 2018 (Q4FY18), substantially higher than the Rs 435 crores last year, and a significant improvement over Rs 439 crores in the preceding quarter. After marking recovery with a profit of Rs 11 crore due to a pullback in ad-spends, the company has now posted a loss of Rs 45 crore this quarter.
The company also updated that Network18 subsidiary TV18 Broadcast Ltd. took operational control and increased its stake in Viacom18 to 51% by acquiring 1% equity from JV partner Viacom Inc. Also, Viacom18 & Indiacast became subsidiaries of TV18 from 28th February 2018 and have now been consolidated into Network18 financials. HomeShop18 has ceased to be a subsidiary of Network18 from 15th February 2018 as a result of its acquisition of ShopCJ through a share-swap.
Digital Results
The company said that Network18’s digital revenues from prime properties MoneyControl, News18 & Firstpost grew 34% YoY to Rs 45 crore in Q4. Overal company’s operating revenues from print and digital stood at Rs 57crore, up 18% from Rs 48 crore in the same quarter last year.
- News consumers spent 1.92 billion minutes on Network18 properties in February 2019
- Moneycontrol reported a monthly traffic of 21 million users, and 0.5 billion pageviews. Monthly active users were 3.6 million in November 2017, its highest ever. Moneycontrol got around 4 million mobile users in Q4.
- News18 reported 72 million users for the quarter, representing a QoQ increase of 13%, with page views reaching 394 million.
- For Firstpost, the company did not share exact numbers but said that “while the user base has been on an uptrend with 5% growth; engagement has increased by more than 75% as compared to previous quarter,”. In the previous quarter (Q3FY18), it reported 33 million users.
- BookMyShow reported 3.7 million app installs, which is lower than 4.3 million app installs in the previous quarter. BMS managed sports events like India’s Football series- ISL Tournament 2017-18 and Nidahas triangular cricket tournament in Sri Lanka. It also managed the Mughal-e-Azam event in Delhi, and events like Swan lake event, as well as the Arijit Singh tour across India.
- Its online video streaming platform Voot, gross downloads rose to 68 million during the quarter and registered average daily viewership of 40+ minutes.
Download: Press release | Financials
Advertisement. Scroll to continue reading.
