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Network18 losses widened to Rs 113 crore in Q1FY19

Network18 reported total consolidated revenues of Rs 1094 crore for the quarter ending June 2018 (Q1FY19), substantially higher than the Rs 336 crores last year, and a significant improvement over Rs 845 crore in the preceding quarter. The company has posted a loss of Rs 113 crore this quarter, which has increased significantly from Rs 69 crore in the same quarter last year.

Network 18’s operational expenses increased significantly to Rs 517 crore, representing an increase of 734% from Rs 62 crore in Q1 FY18.

Digital business

The company said that Network18’s digital revenues from prime properties MoneyControl, News18 & Firstpost grew 22% YoY to Rs 11 crore in Q1 FY19. The company said that Network18 Digital recorded overall with 79 million unique visitors (UVs) across devices spending a total of 2 billion minutes.

Overall company’s operating revenues from print and digital stood at Rs 36 crore, down 22% from Rs 46 crore in the same quarter last year. The company said that overall Network18 Digital, Print & Others revenue declined due to lower programming executed by 100%-owned content producer Colosceum.

  • News consumers spent 1.92 billion minutes on Network18 properties in February 2019
  • Moneycontrol reported a monthly traffic of 18 million users, and 0.5 billion pageviews. Monthly active users in Q4 FY18, monthly traffic stood at 21 million. Moneycontrol got around 3 million mobile users in Q1.
  • News18 (erstwhile Ibnlive.com and Pradesh18.com) reported 100 million users at the end of this quarter, representing a QoQ increase of 38.8%. With the launch of News18.com in Telugu and Malayalam, it now has presence across 9 languages. The company did not share pageviews for the portal. Last quarter, pageviews stood at 394 million.
  • For Firstpost, the company did not share exact numbers but said that the unique visitors (UVs) have grown by 64% at 36 milllion users due to coverage of Karnataka Elections, over Q4 FY18 average UVs. The company did not share any number last quarter and said that the user base uptrended with 5% compared to previous quarter,”. In the Q3 FY18, it reported 33 million users.
  • Network18 launched business news portal CNBC TV18.com in April, 2018.
  • BookMyShow reported 5.4 million app installs, which is higher than 3.7 million app installs in the previous quarter. BMS managed managed ticketing & operations for prestigious IPL tournament Season 11 with 4 IPL Teams namely Rajasthan Royals , Chennai Super kings , Mumbai Indians & Kolkata knight riders along with all venue Accreditation management for all matches including Play offs. It also managed Season 1 of theatrical production Disney Aladdin in Mumbai
  • Its online video streaming platform Voot, gross downloads rose to 80 million during the quarter and registered average daily viewership of 40+ minutes.
  • 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.

Download: Press release | Financials

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ