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    Network18 Q4 Results: Loss widens to Rs 96 crore; revenue jumps 63% YoY

    Synopsis

    Network18 Q4 Results: Segment-wise, TV news reported strong revenue growth during the quarter and full year, driven by an increase in advertising revenue across clusters.

    Network18 Q4 Results: Loss widens to Rs 96 crore; revenue jumps 63% YoYAgencies
    Network18 on Friday reported widening losses for the quarter ended March to Rs 96 crore. The company had clocked a loss of Rs 37 crore in the last year quarter.

    Revenue from operations during Q4 jumped 63% year-on-year (YoY) to Rs 2,419 crore.

    Segment-wise, TV news reported strong revenue growth during the quarter and full year, driven by an increase in advertising revenue across clusters.

    "With leadership positions across key markets, the network delivered industry-leading growth in display advertising. Monetisation of IPs and events also witnessed strong revenue traction," the company said in a statement.

    The fourth quarter EBITDA was flat for the segment, while profitability for the full year witnessed strong growth.

    The digital news business delivered a strong 40% growth in revenue in Q4 and 19% in the full year FY24. Growth was driven by a mix of IP events and video monetization across digital platforms.

    In the entertainment business, Q4 operating revenue increased 80%, driven primarily by sports and movie segments.

    With IPL kicking off a week earlier on March 22, a couple of international cricket series, and WPL, Sports revenue saw a sharp jump during the quarter.

    Movie segment revenue was driven by Fighter, the highest-grossing movie of 2024 so far. TV advertising revenue also delivered strong growth on the back of increased viewership share and non-fiction properties.

    EBITDA for the quarter was impacted by the operating losses from sports and digital segments.

    Viacom18 is making investments in these segments with a focus on making them leaders in their respective markets and expects them to continue leading growth over the foreseeable future.

    In the first full year of presence in sports, the business scaled up impressively, establishing itself as the home of some of the most popular sports properties.

    Its digital platform, JioCinema, was the fastest-growing OTT in the country and set new reach and engagement benchmarks.

    On Friday, Network18 shares closed 2% lower at Rs 87.60 on NSE.


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