In a significant milestone, India’s largest TV news network, TV18, has reported an impressive 23% growth in revenue during the third quarter of the current financial year. The network’s Q3FY24 revenue soared to Rs 402 crore, marking a substantial increase from the Rs 327 crore recorded in the same quarter of the previous fiscal.
TV18’s expansive portfolio continues to dominate as the highest-reach TV news network in the country, connecting with a staggering 175 million people nationwide every week. This extensive reach is facilitated by a diverse array of 20 news channels broadcasted in 16 languages, ensuring a comprehensive and inclusive coverage approach.
The surge in revenue can be attributed to TV18’s sustained viewership gains and the network’s stronghold in key markets. Notably, channels like CNBC TV18, News18 India, and CNN-News18 have emerged as frontrunners in their respective segments, boasting over 80%, 13.8%, and 33.2% viewership shares during the crucial evening primetime slots.
Furthermore, TV18 maintains leadership positions in three regional markets: UP/Uttarakhand, Bihar/Jharkhand, and Gujarat, further solidifying its influence across diverse demographics.
However, despite the commendable performance of TV18’s news business, the overall revenue of TV18 Broadcast Limited, the network’s parent company, experienced a marginal 5% dip, amounting to Rs 1676 crore. This dip is attributed to lower revenues in the movie and sports segments, leading to a consolidated loss of Rs 12 crore.
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Despite this, TV18’s commitment to delivering quality news coverage, coupled with strategic market positions, remains a driving force behind its impressive performance in the highly competitive media landscape.
Network18 Media & Investments Limited stands tall as one of India’s most diversified media and entertainment conglomerates, with interests spanning television, digital content, filmed entertainment, e-commerce, print, and allied businesses.
TV18 Broadcast Limited, a subsidiary of Network18, manages the primary business of broadcasting, operating the largest news network in India. CNBC-TV18, News18 India, and CNN News18 are some of the marquee brands in its news bouquet. The network also caters to the Indian diaspora and global audiences through News18 International, providing definitive Indian news.
Viacom 18 Media Private Limited, another subsidiary, operates a diverse portfolio of television entertainment channels, sports channels, and a digital platform, Voot. This includes popular channels such as Colors, MTV, and Nickelodeon.
Network18’s joint venture, IndiaCast, serves as a multi-platform content asset monetization entity, bringing quality Indian content to viewers globally. The conglomerate’s presence extends to the film production and movie distribution business through its studio – Viacom 18 Motion Pictures. Additionally, AETN18 Media Private Limited, TV18’s infotainment subsidiary, operates the factual entertainment channel – History TV18.
In the digital realm, Network18’s digital content and commerce businesses include leading online platforms such as Moneycontrol, News18.com, CNBCTV18.com, Voot, and Firstpost. As the largest shareholder in the publishing business, Network18 oversees prestigious magazine brands like Forbes India and Overdrive.
In summary, Network18 continues to be a formidable force in the Indian media and entertainment landscape, with TV18’s news business showcasing remarkable growth in the latest financial quarter despite the minor setback in the overall revenue of TV18 Broadcast Limited.