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TV18’s News business records massive 23% revenue jump in Q3FY24
The TV news network’s investments in editorial initiatives pay dividends, driving strong operating and financial performance
TV18’s portfolio continued to be the highest reach TV news network in the country, reaching 175 million people around the country every week. (Representative Image: Glenn Carstens-Peters via Unsplash)
TV18’s news business has registered a strong jump of 23% in revenue in the third quarter of the current financial year.
India’s largest TV news network registered a revenue of Rs 402 crore in Q3FY24, as compared to Rs 327 crore for the same quarter last fiscal.
TV18’s portfolio continued to be the highest reach TV news network in the country, reaching 175 million people around the country every week. The TV news portfolio of the network consists of 20 news channels in 16 languages.
The increase in the revenue comes on the back of the network’s strong viewership gains and leading positions in key markets with CNBC TV18 (80%+ viewership share), News18 India (13.8% evening primetime viewership share) and CNN-News18 (33.2% viewership share) being the number one channels in their respective segments. The news network also has leadership in 3 regional markets, including UP/Uttarakhand, Bihar/Jharkhand, and Gujarat.
In Q2 FY24 also, the TV news network registered 20% revenue growth, as compared to Q2 FY23. In the first nine of the current financial year, the TV news network posted a revenue of Rs 1095 crore, as compared to Rs 891 crore in first nine months of last fiscal.
Digital News Business sees 20% growth
The digital news platforms of the group, housed under Network18, also saw a solid 20% growth. Digital news business posted a revenue of Rs 111 crore in Q3 FY24, as compared to Rs 92 crore in Q3 FY23. The digital news business of the group includes popular brands such as Moneycontrol, News18.com and Firstpost. Network18 continued to be #2 digital publisher in the country with ~195 mn4 unique visitors every month. The group is also leveraging its and product to scale up on Digital.
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