Network18 Q1 revenue rises 10%

Network18 Media & Investments Ltd reported a 10.3% year-on-year increase in consolidated operating revenue for the quarter ended June 30, 2026, as strong election-led advertising demand, digital growth and expanding fintech operations helped offset macroeconomic weakness, geopolitical uncertainty and an industry-wide slowdown in private sector advertising.

The media company posted consolidated operating revenue of Rs 516 crore in the first quarter of FY27, compared with Rs 468 crore in the corresponding period last year. Consolidated operating EBITDA nearly doubled to Rs 8 crore from Rs 4 crore a year ago, while EBITDA margin improved to 1.5% from 0.9%, although profitability remained under pressure due to higher employee costs following the annual salary revision cycle.

The quarter marked Network18's fourth consecutive quarter of revenue growth despite what the company described as a challenging operating environment characterised by a weak macroeconomic backdrop, disruption from geopolitical tensions in West Asia and an industry-wide ratings blackout.

Election spending drives advertising growth

The company said advertising revenue was buoyed by multiple state elections during the quarter, particularly in West Bengal and Tamil Nadu, where political campaigns and government advertising led to a surge in media spending.

According to Network18, advertising inventory consumption across its network grew 10% year-on-year, significantly outperforming the broader television news industry, which recorded around 3% growth.

While government advertising—including campaigns by the Centre, state governments, public sector enterprises and political parties—remained the primary growth driver for the industry, corporate advertising demand weakened amid concerns over the ongoing geopolitical conflict and expectations of a weak monsoon.

Industry-wide, non-government advertising volumes declined by more than 10% year-on-year. In contrast, Network18 said its non-government advertising inventory still grew by around 2%, aided by its diversified portfolio of news brands and strong market presence across television and digital platforms.

The company also reported growing monetisation from Connected TV, which it described as an emerging and increasingly meaningful revenue stream.

Digital platforms continue to expand reach

Network18 maintained its position as India's largest digital news and information network, reaching more than 350 million monthly users, according to Comscore's Total Digital Population report for May 2026.

Its social media footprint also continued to expand. Total video views across social platforms crossed 32 billion during the quarter, representing a 31% sequential increase, while the network's combined social following exceeded 472 million.

On YouTube, Network18 said it maintained a significant lead over competitors, generating more than 1.5 times the video views of its nearest rival between April and June 2026. During June alone, the network recorded over 6 billion YouTube video views, nearly double that of the second-largest player.

Election coverage emerged as one of the strongest engagement drivers. On the day state election results were declared, News18 India, CNN-News18 and News18 Bangla recorded the highest live concurrent viewership within their respective markets.

The company also said 15 of its channels ranked number one in their respective categories during June, including CNBC Awaaz, Moneycontrol and several Hindi and regional news brands.

Moneycontrol strengthens fintech and subscription business

Moneycontrol continued to be one of the company's biggest growth engines, both as a financial information platform and as a fintech business.

The company said Moneycontrol recorded more than three times the time spent and twice the page views of its nearest competitor, reinforcing its leadership in financial news and investor engagement.

Its subscription offering, Moneycontrol Pro, crossed one million paid subscribers, making it India's largest digital news subscription platform. During the quarter, the company introduced Portfolio X-Ray, a new analytical tool that evaluates stock portfolios by assigning valuation ratings and identifying potential investment risks.

The company's AI-driven premium offering, Super Pro, which provides research-backed investment recommendations through SEBI-registered analysts, continued to report healthy subscriber additions and renewal rates.

On the fintech front, Moneycontrol expanded its secured lending partner network by onboarding Muthoot Finance, Muthoot Fincorp, Rupeek and DSP Finance. The company attributed continued momentum in lending to improvements in data modelling that enhanced lead quality, approval rates and click-through performance.

Product innovations across digital platforms

Network18 also rolled out several digital initiatives during the quarter.

News18.com introduced a revamped Election Analytics Centre featuring constituency-level dashboards, live data widgets and AI-powered multilingual content generation. The company said the initiative increased homepage engagement time by 2.5 times during the election period.

A dedicated FIFA World Cup microsite offering real-time updates, interactive data and shareable visual content was also launched to strengthen sports coverage.

Technology publication Tech2 was relaunched with AI-powered capabilities, while hyperlocal platform Local18 accounted for nearly a quarter of News18.com's overall traffic during the quarter.

Meanwhile, Firstpost continued expanding its international audience. The publication generated over 270 million YouTube video views, with more than half originating outside India. It also broadened its programming slate with new explainer series, athlete interviews, lifestyle programming and sports-focused content.

Costs rise as employee expenses increase

Despite revenue growth, margins remained constrained as operating expenses increased 9.7% year-on-year to Rs 509 crore.

The company attributed the rise primarily to annual salary increments implemented during the quarter. Other operating costs remained relatively contained, enabling EBITDA to improve despite higher employee-related expenses.

Chairman highlights macroeconomic challenges

Commenting on the performance, Network18 Chairman Adil Zainulbhai said the quarter reflected contrasting trends across the media industry.

He noted that while election spending provided a meaningful boost to advertising revenues, geopolitical tensions, concerns over the monsoon and regulatory intervention in television viewership ratings continued to weigh on business sentiment.

"Despite these developments, we are fully focused on making our products better by ensuring that they serve their consumers effectively, so that when the macro environment improves, we are in the right position to benefit from it," Zainulbhai said.

Network18 operates 20 television channels in more than 12 languages and seven digital news platforms across 13 languages. Its portfolio includes CNN-News18, CNBC-TV18, News18 India, CNBC Awaaz, Moneycontrol, Firstpost and Storyboard18, while the company also has investments in JioStar, BookMyShow and ETV.