Network18 Media & Investments Limited has released its financial results for the quarter ending September 30, 2023, showcasing remarkable achievements and growth in various sectors. Here are the key highlights:

Sports Dominance with Viacom18:

Viacom18 has emerged as the go-to destination for sports enthusiasts in India.

Viacom18 secured exclusive media rights for BCCI International and Domestic cricket matches for the next 5 years, encompassing international men’s and women’s matches, as well as domestic first-class competitions like the Ranji Trophy.

The acquisition of these rights for Rs. 5,963 crores positions Viacom18 as the home of Indian cricket, contributing to audience footfalls and bolstering the JioCinema platform.

Viacom18’s sports portfolio now includes marquee events such as BCCI, IPL, WPL, Olympics 2024, and more, solidifying its position as India’s #1 sports destination.
JioCinema Elevates Entertainment Streaming:

JioCinema has witnessed remarkable growth as a leading streaming platform for entertainment content.Bigg Boss OTT, in a digital-exclusive format, became India’s most extensive reality show, with record-breaking concurrent viewership and voting during the finale.
The season garnered 100 million viewers and 30 billion minutes of content consumed on smartphones and CTVs.
Popular reality shows such as Khatron Ke Khiladi S13 and Roadies S19 saw substantial increases in viewership and video views.
Original shows like “Taali” and “Kaalkoot” made their mark, ranking among the “Top 10 OTT Originals of the Week.”
News Network Leadership Maintained:

TV18 News Network retained its status as the highest-reaching network in India, with approximately 190 million weekly viewers across the country.
It maintained leadership positions in key markets, including Hindi-speaking regions and regional markets like Marathi.
In the digital space, Network18 was the #2 digital publisher in India, with around 225 million unique monthly visitors.
Moneycontrol continued to lead in engagement metrics, while Firstpost gained traction, making it a leading platform for user reach.
Network18’s focus on building platforms for digital news consumption has been successful.
Revenue Growth Despite Advertising Challenges:

Despite challenges in the advertising environment, TV news networks saw strong growth in advertising revenue, driven by increased viewership share.
Viacom18 experienced significant growth in advertising revenue in its sports and digital segments, driven by cricket series and original shows.
EBITDA declined due to investments in growth verticals, particularly in sports and digital, with a focus on building a strong catalog of entertainment content.
Adil Zainulbhai, Chairman of Network18, emphasized their focus on providing quality content and building a network that serves customers across news, entertainment, and sports, establishing them as a unique and leading presence in India’s media landscape.