Network18’s TV news business has recorded a jump of 28% in its revenue in the fourth quarter of FY24. The TV news network in India recorded Rs 461 crore in Q4, FY24, in revenue compared to Rs 360 crore for the same quarter in FY23.
The revenue for the full fiscal (FY24) stood at Rs 1556 crore, as compared to Rs 1252 crore in FY23, recording a 24% increase in revenue. The TV news business delivered a performance, demonstrating its readiness to leverage an operating position in the election season. The network has been able to increase its ad rates steadily on the back of performance in terms of viewership.
CNBC TV18 garnered a 64.3% viewership share while News18 India garnered a viewership share of 14%, with CNN-News18 accounting for over 33.3% viewership share.
The news network has had leadership in four regional markets of UP/Uttarakhand, Bihar/Jharkhand, Gujarat, and Jammu/Kashmir/Ladakh/Himachal. Its channels in West Bengal, Rajasthan, and Punjab/Haryana have also been number two players. Along with News18 Bangla which has seen an improvement in ranking during the year, News18 Lokmat has established itself as a number three player.
Moreover, the digital news business of Network18 also recorded strong growth. In Q4, it posted a total revenue of Rs 131 crore, 40% up as compared to Rs 94 crore for the same quarter in FY23.
The digital news business recorded a 40% increase to Rs 425 crore in FY24, as compared to Rs 356 crore in FY23. The digital news portfolio had more than 180 million unique visitors every month.
Moneycontrol continued to be the number one player in terms of both reach and engagement metrics. Moneycontrol Pro crossed 7.5 lakh paid subscribers, making it amongst the top 20 globally as per FIPP’s Digital Subscription Report.
News18.com continued to expand its editorial coverage and analysis of events across the world along with adding new features for enhanced user experience. Firstpost’s YouTube channel saw a 70% quarter-on-quarter growth in average monthly video views.