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Q3FY19: NDTV Convergence reports Rs 40 Cr in revenue, 10M views on HOP

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NDTV's digital arm Convergence reported its highest quarterly revenue up till now – over Rs 40 crore for the quarter ended 31 December 2018. Last quarter, the company had said that Convergence grew by 45% year-on-year. For the quarter ended June 30, 2018, Convergence saw 200 million unique visitors, although it did not disclose unique visitors in this quarter or in the preceding quarter. NDTV's newly launched mobile-only vertical video channel NDTV HOP crossed 1 crore views (10 million) in December. Launched in October with Bharti Airtel, the app features 20-minute live shows on Bollywood, news, fashion, entertainment, gadgets, astrology, careers, debunking fake news, yoga, online deals, among others. In December, NDTV Convergence signed a 5-year deal with content marketing firm Taboola with a “minimum guarantee” of Rs 300 crores for the former. A previous 3-year deal signed in September 2015 gave Taboola exclusivity over content marketing on NDTV properties. Revenue from the company's e-commerce/retail business reduced by 51.6% year-on-year to Rs 2.2 crore, from Rs 4.55 crore in Q3FY18. It is worth noting that losses stood at Rs 2.09 crore, which is a 78% year-on-year fall from Rs 9.5 crore in Q3FY18, and a 61.2% fall from Rs 5.4 crore in the preceding quarter. NDTV Ltd and NDTV Convergence Ltd transferred their entire equity stake in Special Occasions Ltd (SOL) to Wedding Junction Pvt Ltd; SOL ceased to be a subsidiary of the company from November 14, 2018. Financials NDTV reported consolidated operational revenues of Rs 102.5 crore for the quarter ended…

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