Moneycontrol is transforming into advanced fintech player: Mukesh Ambani

At the 47th Annual General Meeting (AGM) of Reliance Industries, Chairman Mukesh Ambani highlighted the performance and strategic growth of Network18’s news business.

As part of his address, Ambani said, “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. News18 was India's top TV network for election news. On June 4, the counting day, its reach was nearly 50% higher than the IPL final.

“CNBC-TV18 had an 82% viewership share on the Budget Day. This is in line with its weekly performance. CNN-News18 often outperforms all other channels combined. It has been number one for over two years,” he added.

Elaborating on Network18’s digital platforms, Ambani said, “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.”

“I believe it is time for India, as the world's most populous nation, to assert its voice and gain its rightful space in the influential global media,” added Ambani.

Expanding its footprint in the fintech space, Moneycontrol now offers a suite of personal finance products, including personal loans and fixed deposits. Network18’s Firstpost has gained over 5 million subscribers in less than 18 months. Its YouTube channel captured 110 mn+ video views, outperforming major global news platforms such as BBC News, Al Jazeera English, Sky News, DW and others. (YouTube viewership data from VidIQ, Mar’24), stated a press release.

“Network18’s Business News channel has a 92.5% market share. CNN-News18, part of Network18’s News18 Network, has maintained its position as the number one English news channel for two consecutive years. Its Hindi News channel, News18 India has also been the leader in the Hindi news segment for over a two-year period.

News18 was the preferred network of choice of consumers across the country during India’s General Elections 2024, highlighted by the fact that the reach of the network on the counting day was 50% higher than that of IPL finale on TV.

News18 Network operates a bouquet of 16 news channels in Hindi, English and regional languages,” the release stated further.