Key takeaways
- Digital News broke even, with MoneyControl Pro and News18.com’s Indic languages sections being “standout performers”
- Half of Voot’s subscribers watch Bigg Boss every week.
- The average watch time on Voot stands at 45 minutes.
Broadcasting and media company Network18 Media and Investments Ltd. said its digital news business broke even for the full year due to “accelerated revenue growth” and that subscriptions are the next “engine of growth”. The company last week reported its financial results for the quarter and full-year ended March 31, 2021.
Digital News
MoneyControl Pro and News18.com’s Indic languages sections were “standout performers”. News18.com users have increased 4% over the previous quarter to 424 million users; a 12% gain in vernacular audience growth contributed 319 million users quarterly. MoneyControl Pro continues to “enhance its value proposition and subscriber base.”
Digital News maintained its “growth trajectory”, rising 50% YoY for the third consecutive quarter. “Positives from increased salience of the medium for advertisers have been accentuated by the growing stature and reach of our platforms,” the company said in a statement.
CNBCTV18.com averaged 3 million unique visitors per month during the quarter, and expanded audience in market, healthcare and international news segments.
The company also claims that COVID-19 led to an increase in TV and digital viewership. It said industry sources indicate a 10% yearly rise in OTT video consumption, without disclosing any company-specific figures. “Increased propensity to pay has been witnessed, amidst domestic OTTs increasing prices selectively; while global players create India-specific cheaper offerings,” the company vaguely added.
Half of Voot’s subscribers watch Bigg Boss every week
Bigg Boss Kannada drove stickiness on Voot; 50% of active paying subscribers watch Bigg Boss every week. Livestreams of Legends Cup Cricket and Carabao Cup football generated consumer traction and advertiser interest. The average watch time stands at 45 mins per user per day. Voot Select reached 1 million B2C subscribers.
BookMyShow continues to face pressure due to shut cinema halls and event venues. It has begun a TVOD platform BookMyShow stream, that has seen a “strong uptick”.
Financial Snapshot
Network18’s operational revenue includes standalone news revenue from TV 18, revenue from its entertainment business i.e. Viacom18, AETN and IndiaCast, and consolidated revenue from TV18 including subscription and film production/distribution. Finally, it also includes revenue from digital, print, and “other” revenue.
- Total Income: Rs 1,434 crore, down 1.9% YoY i Q4FY21; Rs 4,749 crore in FY21, down 11.9%
- Operating Revenue: Rs 1,415 crore, down 3% YoY in Q4FY21; Rs 4,705 crore in FY21, down 12%
- Operating EBITDA: Rs 279 crore, down 24% YoY in Q4FY21; Rs 796 crore in FY21, down 29%
- Consolidated EBITDA up 29%; highest ever EBITDA margins led by cost control and “innovative measures”
- Profit After Tax up by 9x at Rs 547 crore
