Network18 calls it a strategic reset. But when a media giant posts a staggering ₹1,435 crore loss over two quarters, it’s fair to ask, what’s really going on?
The story is simple on paper: Network18 merged its crown jewels, Viacom18 and IndiaCast, into Star India. In doing so, it gave up ownership of JioCinema, the one OTT platform that had a fighting chance against the likes of Netflix and Prime Video. The result? Viacom18 is no longer a subsidiary. It’s now an “associate company.”
And with that, a significant chunk of Network18’s business vanished from its books.
Revenue fell off a cliff, from ₹2,580 crore in Q4 FY24 to just ₹564.5 crore in Q4 FY25. Even the company’s news division, usually its stronghold, reported a year-on-year dip. And the so-called “growth” in ad pricing? It barely masks the deeper cracks.
The pitch from Network18 is optimistic. They claim the move will streamline operations and allow them to focus on content while the big guns handle distribution. But to the outside eye, this doesn’t look like strategic clarity. It looks like a retreat.
Especially when you consider the broader context: a weak advertising environment, falling TV news inventory, and rising costs in a market flooded with streaming options. It’s one thing to play smart. It’s another to sell off your best assets and hope the market smiles back.
Network18 may call this a pivot. But for now, it feels more like an exit, disguised in corporate lingo.
And here’s the question: Without Viacom18 and IndiaCast, what’s left of Network18’s identity?
Time will tell. But right now, the numbers aren’t painting a hopeful picture.
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