Hyperlocal, integrated newsroom help Network18 to stay relevant: Adil Zainulbhai

Network18 has pivoted to integrated news reporting which is platform-agnostic, said Chairman Adil Zainulbhai in his speech to shareholders during the company's FY22 annual report.

According to him, Network18 said the idea is to go hyperlocal and come up with an integrated newsroom which will help Network18 to remain relevant.

"Our initiatives of going hyperlocal and creating an integrated newsroom are laying the foundations for us to stay relevant in a fast-changing media landscape where consumers’ trust and the ability to reach them at multiple touchpoints will be key to success," he said.

"We are also taking initiatives to make our news businesses future-ready. With the largest news portfolio in the country, in both TV and Digital segments, our aim is to become the most trusted source of news for our audience. We are harnessing the collaborative power of both our platforms to deliver consumer-first news. We are expanding our coverage along the dual axes of width and depth to provide 360-degree coverage of events to our consumers across the country – from national and regional news to global and local roundup," he added.

"Not only did we scale new heights on the operating front, but our profitability metrics also achieved new levels. This is the result of a well-defined strategy and a step-by-step execution over the last few years. It is no mean feat that this was achieved as the economy and industry faced two of the toughest years, affected by a global pandemic the like of which has never been witnessed before," said the chairman.

As part of the company’s growth plans, the company raised Rs 15,145 crore from Bodhi Tree and Reliance. It was on April 27 that Viacom18 entered into a partnership with Reliance and Bodhi Tree Systems.

"This partnership will not only enable the Company to invest in scaling up its digital, sports, and other businesses, but it will also bring the invaluable experience of industry veterans and distribution reach of a big digital platform on board. We had already started making investments for the future with expansion into sports and scaling up of the digital business in the last fiscal, and this partnership has the potential to take Viacom18 into the next phase of growth, on the way to becoming one of India’s largest broadcasting and streaming companies. Viacom 18’s acquisition of exclusive digital rights of IPL for the next 5 seasons is a massive step forward in this journey," he said.