How Network18 is fortifying its media-tech play

At a time when cross-platform consumption of content is growing at an all-time high, Network18 seems to be on the path to become India’s first media-tech conglomerate. While the entertainment sector has already embraced technology to scale up, this is a first for a news network. With disruptive technologies such as generative AI and ChatGPT on the rise, Network18 intends to use technology to offer evolved products and services to its viewers and customers.

On the digital front, Network18’s Moneycontrol and Firstpost have already made significant strides. Both digital publications have set a benchmark in Indian media with their distinctive offerings. With over half a million paid subscribers, Moneycontrol has been a market leader in digital financial news for quite some time, whereas, Firstpost’s video pivot earlier this year brought staggering 673% growth for its YouTube channel, according to the company. It’s perhaps the encouragement of their success why Network18 is now determined to replicate this transformation across all its platforms, including CNBCTV18 and News18 channels.

Over the past few months, Network18 management has been working to bring together its digital and broadcast teams, merging editorial, business, and operational functions. From planning stories to seamless content consumption on any device, Network18 is creating solutions to offer maximum value to its user.

Recently, the company seems to have avoided the traditional practice of solely recruiting from within the media industry. By bringing in individuals with diverse backgrounds such as big tech and start-ups, Network18 is cultivating a versatile workforce that can scale its media-tech aspirations.

One such recruitment was 5paisa Capital’s Chief Business Officer & Head of Products, Ankit Fitkariwala, who recently joined Moneycontrol as CPTO. Another significant appointment was of Sunil Sharma, as the group’s Chief Product & Technology Officer. He spearheads Network18's digital technology initiatives, such as tech architecture, content management, data analytics, and monetization strategies. Since Sunil comes from a rich "Big Tech" background, he brings a wealth of experience from his previous roles at renowned companies such as Byju's and Amazon. His vision includes leveraging cutting-edge technologies like generative AI to transform processes, engage audiences, localize stories, and optimize content distribution.

Last month, Network18 announced appointments and enhanced duties in its top leadership to establish an integrated broadcast and digital ecosystem across all brands within the network.

A senior executive at Network18 said, "We prioritize technology and product-centric approach in everything we do. Our aim is not only to outpace competitors but also to elevate and expand the news landscape through digital-led technology and product innovations. Roping in diverse talent is a crucial step in this direction. With a highly diversified talent pool, surpassing that of any other media company, we are committed to evolving with time."