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Micro machines death star9/8/2023 We have made some key leadership hirings recently that will help the Group push through to the next phase of growth and help us reach our ambition of becoming the largest and most admired media-tech company in the country. The transformation to a digital-first approach has become a reality, and we will continue to lead this effort at scale. Network18 Chairman Adil Zainulbhai said, "The year has started on a blockbuster note with our digital initiatives delivering phenomenal results. Viewership gains in key markets over the last few quarters have enabled the network to push up pricing, helping revenue growth. News18 was able to drive growth powered by an increase in viewership share and a strong focus on IP-event-led advertising revenue. It added that TV news networks also registered strong growth in advertising revenue despite the continued weakness in the advertising environment, highlighted by the 5% YoY decline in news industry inventory consumption. However, spending by new-age clients remained weak due to an increased focus on profitability and the soft start-up funding environment, posing a challenge to driving growth. The company said Viacom18’s non-sports network saw a pick-up in advertising demand on key channels, with the regional network delivering growth. Network18 also said JioCinema’s 4K coverage helped it become the preferred medium for premium connected TV households, reaching more than twice the number of HD TV homes within the first five weeks of the season. To boost its out-of-home viewership, JioCinema had also launched IPL Fan Parks across more than 30 cities in the country. JioCinema's IPL presentation included multiple camera angles, commentary across 12 languages, and specially curated feeds. Setting new benchmarks for IPL streaming, JioCinema attracted 120 million viewers for the final match, making it the most-watched digital event globally. It added that the platform created a new milestone for concurrent viewership by recording 32.1 million simultaneous users. Network18 also mentioned that nearly 450 million viewers tuned in to JioCinema to watch the IPL, delivering a total of over 17 billion video views with an average watch time of more than 60 minutes per user per match. According to Network 18, JioCinema had 26 sponsors and more than 800 advertisers, with over 40 of them using the platform exclusively to reach their premium audience on connected TVs.
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