Reliance Industries Chairman and Managing Director Mukesh Ambani at the the 45th Annual General Meeting on Monday said that the conglomerate’s media business achieved its highest growth last year on the back of strong engagement, resulting in record subscriptions and advertising revenues.
“Our national channels, CNN-News18, CNBC-TV18, and News18 India are consistently ranked Number 1. Moneycontrol is among the world’s most popular subscription products. Our news brands are innovating with novel story-telling methods across platforms, building deeper relationships with audiences – wherever they are and whatever device they use,” said Ambani.
“Our Entertainment arm, Viacom18 consolidated its leadership position with a high-decibel entry into Sports, bagging digital rights of IPL for 5 years. Along with key sporting rights in Football, Badminton, Basketball, and Tennis, there is now Cricket. Viacom18 is also aggressively investing in movie rights and original content for OTT,” he added.
Talking about News, Entertainment, and Sports, he mentioned that digital is a core and fast-growing theme as the company prepares to embrace the 5G revolution. “Our partnership with Bodhi Tree, James Murdoch, Uday Shankar and Paramount Global will help Viacom18 with additional talent bandwidth and enable us to create a world-class Media & Entertainment business,” he highlighted.
Network18 and TV18 – the companies that operate News18.com – are controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.