How India's Media Giant Network18 Doubled EBITDA Despite Advertising Headwinds

In a media landscape where declining ad revenues spell doom for most players, Network18 has defied expectations. The media powerhouse nearly doubled its operating EBITDA to Rs 33 crore in FY25, even as the industry faced significant challenges. What's behind this remarkable performance?

Network18's standalone news business grew 4.3% to Rs 1,896 crore in revenue, showcasing resilience when many media organizations are struggling to maintain profitability. This growth story becomes even more impressive considering the subdued advertising environment that has affected the entire industry.

The secret to Network18's success appears to be threefold: strategic cost management, stronger ad pricing models, and expanding viewership. While competitors focused solely on chasing audience numbers, Network18 took a more balanced approach, cementing its leadership position across Hindi, English, and Business News segments while simultaneously gaining ground in regional markets like Marathi and Bengali.

What's particularly interesting is how Network18 maintained its digital momentum. Despite a 15% drop in TV news inventory consumption across the industry, the company's digital ad revenues remained steady. This suggests a successful pivot toward digital-first strategies that many traditional media companies struggle to implement effectively.

With a 14.1% all-India market share, Network18 now stands as India's top TV news network. However, the company's journey wasn't without challenges—it recorded an exceptional consolidated loss due to restructuring involving Viacom18, Digital18, and Star India.

For young professionals and entrepreneurs, Network18's story offers valuable lessons in adaptability and strategic focus. When your industry faces headwinds, sometimes the path forward isn't just cutting costs but reimagining your value proposition while maintaining quality in your core business.

What strategic pivots might your business need to make in challenging times? Network18's balancing act between traditional strengths and new growth areas might just provide the blueprint.