Network18 Q4 FY18 revenues up 10% at Rs 1,597 cr; TV18 revenues grow 41%

Network18 Media & Investments has posted consolidated revenues of Rs 1,597 crore for the fourth quarter ended March 31, 2018, a growth of 40 per cent YoY over Rs 1,140 crore in Q4 FY2017. Consolidated revenues for FY2018 stood at Rs 5,027 crore, a 16 per cent YoY growth over FY2017 revenues of Rs 4,333 crore. 

Revenue growth was driven by a broad-based recovery in advertisement spending, as well as a favourable base: With the economy on a revival trend and the temporary impact of GST implementation now over, the group’s broadcast portfolio benefitted from the improved advertising environment. 

Network18 subsidiary TV18 Broadcast took operational control and increased its stake in Viacom18 to 51 per cent by acquiring 1 per cent equity from JV partner Viacom Inc. Pursuant to this acquisition, Viacom18 and the distribution arm Indiacast are being consolidated into TV18 (and hence, Network18) financials from March 1, 2018. 

Viacom18 and Indiacast became subsidiaries of TV18 from February 28, 2018 and have now been consolidated into TV18/ Network18 financials. HomeShop18 has ceased to be a subsidiary of Network18 from February 15, 2018 as a result of its acquisition of ShopCJ through a share-swap. 

Network18 digital content properties reach 25 per cent of total news consumption audience. MoneyControl app has 3x the users of its nearest competitor. Network18’s digital revenues from prime properties MoneyControl, News18 and Firstpost have grown 34 per cent YoY to Rs 45 crore in Q4. 

Viacom18 bouquet’s (30 channels) share of entertainment viewership rose to 11.3 per cent. The film business clocked revenues of Rs 329 crore in Q4 FY18 (vs Rs 72 crore in Q4 FY17) and Rs 450 crore in FY18 (vs Rs 150 crore in FY17). 

TV18 posted consolidated revenues of Rs 4,813 crore in FY18, a 16 per cent YoY growth (on a comparable basis) over Rs 4,142 crore in FY17. Q4 FY18 revenues grew 41 per cent YoY – from Rs 1,092 crore in Q4 FY17 to Rs 1,540 crore in this quarter – driven by film revenues and a broad-based recovery in advertising, off a low-base last year. 

TV18’s News bouquet includes 23 channels. The news viewership share rose to 9.5 per cent. Regional News portfolio contributes nearly as much viewership as the group’s national channels, making them well-positioned to benefit from potential revival in rural economy and upcoming elections. 

Adil Zainulbhai, Chairman, Network18, said, “We are continuing our investments in digital and regional content, and seeing growth in most segments of our business. We will continue to invest into filling whitespaces and creating the most compelling bouquet for the Indian consumer. This complements the strong performance of our flagships.”