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Network18’s digital revenue grows 50% YoY, News18.com clocks 173 million visitors

Key takeaways 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.   Digital News 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. …

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