Network18 news revenue rises in Q3FY26 despite sharp advertising slowdown

Network18 Media & Investments Ltd reported a 5% year-on-year growth in operating revenue from its news business for the quarter ended December 31, 2025, even as the television news industry continued to face a sharp slowdown in advertising demand.

The company’s standalone news business revenue rose to ₹500.4 crore in Q3FY26 from ₹476.4 crore a year earlier, supported by its leadership position across television and digital platforms and a diversified portfolio across languages and regions.

Advertising inventory demand for the TV news industry declined by more than 10% year-on-year during the quarter. However, Network18 said the decline in its own inventory utilisation was lower than the industry average, enabling it to outperform peers despite a weak macro advertising environment.

Margins improve sequentially

Operating EBITDA from the news business stood at ₹11.8 crore in Q3FY26, compared with ₹11.6 crore in the year-ago quarter, while margin improved sequentially to 2.4% from 1.5% in Q2FY26. Operating expenses increased broadly in line with revenue growth, rising 5.1% year-on-year to ₹488.6 crore.

For the nine-month period ended December 2025, news business revenue grew 2.4% to ₹1,408 crore, despite a high base last year that benefited from election-related advertising. Operating EBITDA for the nine-month period rose 10.6% year-on-year to ₹23.4 crore.

Leadership across TV and digital

Network18 retained its position as India’s largest television news network, with a portfolio of 20 channels, including 14 regional channels. The network reported an all-India TV viewership share of 14.2%, up 110 basis points year-on-year, and said it reaches over 230 million viewers every month, around 45% higher than its nearest competitor.

The company continued to lead key markets, with CNBC-TV18 retaining its top position in the business news segment with a 43.1% share, News18 India leading the Hindi news category with a 13.2% share, and CNN-News18 topping the English news segment with a 36.1% share. Regional leadership remained strong in Marathi and Kannada markets, along with solid positions in West Bengal and Hindi-speaking states.

On digital, Network18 said it remained the country’s number one digital news and information network, reaching nearly 300 million monthly users, representing about 72% reach in the segment. Its YouTube channels clocked more than 16 billion video views during the quarter—over 2.5 times that of the nearest competitor—while total social media followers stood at 386 million.

Moneycontrol continued to drive engagement, recording twice the page views and over three times the time spent compared with its closest rival during the quarter. Moneycontrol Pro crossed one million paid subscribers, reinforcing its position as India’s largest digital news subscription platform.

Creator economy and CNN partnership

Network18’s creator-focused vertical, Creator18, expanded its roster to more than 60 exclusive creators. The top 10 creators in its portfolio have an unduplicated reach of over two billion, helping brands such as Swiggy, Samsung, OpenAI and Quillbot scale digital outreach. The company also launched its first creator-led TV show, ‘Viral Baat Raunac Ke Saath’, on News18 India during the quarter.

During the quarter, Network18 renewed its partnership with CNN International for another 10 years. As part of the agreement, CNN-News18 will expand its digital footprint, including on YouTube and connected TV platforms, to international markets, strengthening its reach among global audiences.

Chairman’s outlook

Commenting on the performance, Network18 chairman Adil Zainulbhai said the company had once again delivered a resilient performance despite challenging industry conditions.

“Once again we have demonstrated that we continue to defy industry trends by delivering a resilient performance amidst a challenging macro environment. We hope that the positive steps taken by the government over the last few months to boost consumer spending will translate into increased consumption which will benefit companies like ours. Meanwhile we continue with our unwavering focus on strengthening our position as India’s premier news destination.” Zainulbhai said.