New Delhi: Network18 Media and Investments Ltd, one of India’s leading media conglomerates, has reported a widening loss for the second quarter of financial year 2024-25 (Q2 FY25). Despite a 6% increase in operating revenue from TV, digital, and print news, the company’s overall loss widened to Rs 152.3 crore compared to Rs 119 crore in the same period last year.
The merged entity, formed through the combination of TV18 and E18, generated a total revenue of Rs 2059.3 crore in Q2 FY25. While the operating revenue from the news business rose, the revenue from entertainment (Viacom18) declined by 5.4%.
Subscription revenue saw a significant boost, growing by 43.6%. However, the income from film production and distribution plummeted by 88%.
Adil Zainulbhai, Chairman of Network18, expressed optimism about the company’s future, stating, “We are ideally positioned to become the most preferred news network of India.” He emphasized the company’s commitment to innovation and growth in the media industry.
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The merger of Network18, TV18, and E18 has created a powerful media powerhouse with a combined reach of over 350 million on TV and 250 million monthly unique visitors across its digital platforms.
The company’s shareholders will benefit from the merger, as they will receive shares of Network18 in exchange for their existing shares in TV18 and E18.
Key Points:
- Network18 widens loss to Rs 152 crore in Q2 FY25.
- Operating revenue from TV, digital, and print news rises by 6%.
- Revenue from entertainment (Viacom18) declines.
- Subscription revenue grows significantly.
- Adil Zainulbhai expresses optimism about the company’s future.