CNN-News18 has remained the number one news channel for two years, Mukesh Ambani, Chairman of Reliance India Limited, announced on Thursday at the 47th Annual General Meeting (AGM), commending the new heights the news business has achieved.
“Dear friends, our news business is reaching new heights. This is due to our focus on high-quality journalism. We lead in both general and business news. We are the only network in India with global ambitions,” he told shareholders at the meeting.
“News18 was India’s top TV network for election news. On June 4, counting day [for the Lok Sabha polls], its reach was nearly 50 per cent higher than the IPL final. CNBC-TV18 had an 82 per cent viewership share on the Budget Day. This is in line with its weekly performance,” he said.
Ambani added: “CNN-News18 often outperforms all other channels combined. It has been No. 1 for over two years. Moneycontrol is transforming into an advanced fintech provider of data and analytics for users in India and beyond. It is unmatched in speed and accuracy. It has 70 million unique visitors. Our premium service, MC Pro, now has over 8,50,000 paid subscribers. This makes it a Top-10 subscription site globally and the largest in India. Firstpost is becoming a global news powerhouse. Its subscriber base has more than doubled in the last 12 months. In July, Firstpost recorded 127 million video views. This ranks it sixth among global peers. Firstpost is recruiting top talent to become the definitive global news destination from India.”
The RIL chairman said he believed it was time for India, as the world’s most populous nation, “to assert its voice and gain its rightful space in the influential global media”.
Sharing more details of the progress made by RIL’s Media & Entertainment business, he said: “Our media business achieved over Rs 10,000 crore ($1.2 billion) of revenue. This represents an industry-leading growth of 49 per cent. Viacom18, our entertainment arm, did even better. Driven by the Sports segment, it saw a remarkable growth of 62 per cent.
“JioCinema is revolutionising digital sports and entertainment. In a short time, it has reached major milestones. The second season of IPL on JioCinema was a huge success. It reached 62 crore Indians. That is a 38 per cent increase over the previous season. Total viewership grew by 50 per cent. This made it the most-watched livestream event in the world. This success continued during the Olympics. JioCinema’s new subscription pack is a game-changer. It offers OTT originals, reality shows, blockbuster movies, and top content from HBO, Paramount, and NBCU. In just 100 days, JioCinema crossed 15 million paying subscribers. This is the fastest growth in this category.”
Talking about Colors, the flagship Hindi channel, he said it reached its highest market share in 12 years. “It climbed to the Number 1 position last year.”
The RIL chairman also touched upon the partnership with Disney, calling it the beginning of a “new era in India’s entertainment industry”. “We are combining content creation with digital streaming. Our digital-first approach will deliver unparalleled content at affordable prices. We will cater to every consumer’s tastes. We will provide world-class digital entertainment across the spectrum. We are excited about this partnership. I warmly welcome Disney to the Reliance family. Just like Jio and Retail, our expanded Media business will be an invaluable growth centre in the Reliance ecosystem.”
