- Network18’s digital news revenue increased by 50% YoY for the second consecutive quarter
- Consolidated Net Profits grew 125% YoY
- Network18 Digital saw 175 million monthly unique visitors; News18.com clocked 150 million
- Voot’s views rose 30% QoQ
- CNBCTV18.com saw a 77% growth in unique visitors
Broadcasting and media company Network18 Media and Investments Ltd. saw 50% YoY growth in digital news revenue for the second consecutive quarter, driven by MoneyControl and News18.com. In its financial results for the quarter ended December 31, 2020, the company disclosed a 125% YoY increase in net profits to ₹333 crore.
Network18 Digital clocked in 173 million unique visitors in the quarter, higher from the 157 million visitors reported in the previous quarter. Digital news business also became profitable since Q2, “as non-remunerative costs were trimmed and ad-spends revived”. Available in 13 languages, News18 clocked 150 million average monthly users, a gain of 3% QoQ. Vernacular audiences contributed 42 million average monthly users, representing 12% growth over the previous quarter.
Digital News Financials
- Operational Revenue: ₹58 crore, up 52% YoY, and up 21% QoQ
- Operational Expense: ₹53 crore, up 2% YoY, and up 18% QoQ
- Operating EBITDA: ₹6 crore, from losses of ₹13 crore in Q3FY20; representing a growth of 146% YoY and 50% QoQ
The company claims that MoneyControl has industry leading MAUs and engagement, but did not disclose either metric. The publication “gained traction from AI led analytical tools” for investors and a content tie-up with The Financial Times.
CNBCTV18.com saw a 77% growth in unique visitors over the previous quarter. Core business news users, such those in markets, stocks, and personal finance, grew 10% QoQ.
Voot views increased by a third, BookMyShow continues to suffer
Streaming service Voot’s views rose 30% QoQ; monthly active users reached “new peaks”, driven by resumption of fresh content and “marquee content”, the company claimed, without actually disclosing MAUs. Average daily time spent per viewer was 50 minutes on Voot, and 86 minutes on Voot Kids. Freemium service Voot Select was launched in March, and “continues to grow its subscriber base”.
BookMyShow is “facing pressure” due to continued shuttering of cinema halls and event venues due to the pandemic. “The company is optimising costs across the board to mitigate the impact, even as cinema halls are in the process of reopening with partial capacity,” the company said.
Network18’s operational revenue includes standalone news revenue from TV 18, revenue from its entertainment business i.e. Viacom18, AETN and IndiaCast, and consolidated revenue from TV18 including subscription and film production/distribution. Finally, it also includes revenue from digital, print, and “other” revenue.
- Total Income: ₹1426 crore, down 4.3% You and up 33% QoQ
- Operational Revenue: ₹1422 crore, down 3.5% YoY and up 34% QoQ
- Net Profit: ₹333 crore, up 125% YoY and up 390% QoQ
- Total Expenses: ₹1168 crore, up 13% You and 20% QoQ
- Network18’s digital news properties see revenue growth, but BookMyShow continues to struggle
- Network18 expects flat ad revenue till September; 172 M visitors across digital