Times Internet said Thursday that last year it had more than 557 million monthly active users, and over 110 million daily active users, using its digital offerings. In FY 20, the company’s revenues grew 24% over last year to Rs 1,625 crores, as revenue from advertising grew 22% over FY 19. The company owns a number of digital products including on demand video platform MX Player, music streaming service Gaana, restaurant discovery app Dineout, along with the web versions of the Times of India and the Economic Times. It said that Gaana and MX Player were its fastest growing entities in terms of user base, seeing a 75% increase over last year. Its news platforms meanwhile, grew 31% over FY 19. The company also claimed that in terms of monthly reach, it is the largest digital platform in India, outside of Google and Facebook. (It relied on data collected by analytics firm Comscore.): [caption id="attachment_221385" align="aligncenter" width="2006"] Source: Times Internet[/caption] “In spite of tough market conditions, we’ve grown faster than the industry and our competition in our key verticals. While we saw steep falls from March through June, we’ve rebounded well, with positive growth in July, and we ended August back in positive growth territory for the fiscal year as a whole,” Satyan Gajwani, vice chairman of Times Internet said in a statement. MX Player and Gaana The company said that MX Player has over 200 million users, making it the largest on demand video service in terms of users,…
