OTT platform JioCinema has continued to be the fastest-growing SVOD OTT platform, crossing 16 million (1.6 crore) paid subscribers with a 2x QoQ growth, as per Network18's second quarter report for FY25.
Affordable monthly subscription plans of Rs 29/month and Rs 89/month (family plan) and an expanding content catalogue has helped the growth in subscribers. The third season of digital exclusive Bigg Boss OTT was the top driver of subscription and watch-time. Bigg Boss Marathi replicated its success on TV, becoming the third most-watched show on the platform.
Network non-fiction shows like Laughter Chefs, Khatron Ke Khiladi, and Splitsvilla were complemented by digital exclusive shows like Shekhar Home and Pill.
The international content catalogue on JioCinema was amongst the top drivers of subscriber acquisition during the quarter. Kung Fu Panda 4, Dune 2, Godzilla x Kong, and Fall Guy were some of the popular international shows and movies added to the platform during the quarter.
In its recent earnings, Network18 Media and Investments reported a loss of Rs 152 crore in the fiscal second quarter (Q2 FY25). In the previous quarter, its loss was Rs 195 crore. It has reported a revenue growth of 6% to Rs 445 crore in its news portfolio.
The news division’s growth was driven by increased digital advertisement revenue, even as industry advertising volumes for the news genre softened by 20% from a year earlier, Network18 Media said in a statement.
The company's EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the news business improved significantly, marking a sharp turnaround in profitability.
Network18 merged TV18 Broadcast (TV18) and e-Eighteen.com (E18) into its operations, effective October 3, 2024. The merger, approved by the National Company Law Tribunal, Mumbai, has created India’s largest platform-agnostic media powerhouse, with a vast footprint across languages and spanning TV and digital platforms.
“We are happy to have completed the merger of our news businesses. With a strong portfolio of TV channels and digital platforms covering the breadth of the country and catering to its linguistic diversity, we are ideally positioned to become the most preferred news network of India,” Adil Zainulbhai, chairman of Network18, said in a statement.
The network’s viewership share across TV channels increased by 60 basis points quarter-on-quarter, strengthening its leadership in key markets.
On the digital front, Moneycontrol maintained its leadership, recording a 50% year-on-year increase in unique visitors and over 30% growth in page views. The platform launched new analytical tools and data features, including the ‘Portfolio Score’ and ‘Stock Ideas’ offerings, to help users make investment decisions.
Additionally, Moneycontrol Pro surpassed 9.2 lakh paid subscribers, strengthening its position as the leading subscription-based news platform in India and ranking among the top three in Asia.
The merged entity now boasts a monthly reach of over 350 million on TV and approximately 250 million monthly unique visitors across its digital portfolio. The combination is expected to result in significant operational synergies, cost optimisation, and new revenue opportunities.
Shareholders of TV18 and E18 will now be part of Network18, leading to a simplified corporate structure and benefiting from the wider reach and integrated offerings.
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