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Annual Report 2019-20

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Annual Report 2019-20 Annual Report 2019-20 Creating Experiences The Group commissioned India’s largest integrated TV and Digital Newsroom at Mumbai. What’s Inside Corporate Overview 01 Creating Experiences 02 Across Mediums 03 Across Languages 04 Across Screens 05 Across Narratives 06 Across Genres 08 Letter to Shareholders 09 Corporate Information 10 Board of Directors Statutory Reports 12 Management Discussion and Analysis 30 Board’s Report 40 Business Responsibility Report 49 Corporate Governance Report Financial Statements 71 Standalone Financial Statements 121 Consolidated Financial Statements Notice 181 Notice of Annual General Meeting View this report online or download at www.nw18.com A large bouquet of diversified brands, crafted to meet the diverse needs of audiences across regions, cultures, segments, genres and languages, defines the ethos of Network18 Media & Investments Limited (Network18). As one of India’s largest media conglomerates, Network18 has redefined the Media and Entertainment sector of the country, while carving a distinctive niche for itself as a thought leader in the industry. With our finger on the pulse of people across the culturally contrasting milieus of Bharat and India, we remain closely connected with audiences through multiple channels of mediums, languages, platforms, screens, devices and formats. At the heart of this consumer connect lies our ability to align ourselves to the differentiated and evolving aspirations, needs and consumption patterns of people across the country. From News to Entertainment and across TV, Digital and Print, our portfolio of offerings is designed to engage with audiences across segments and genres. We create enriching experiences for them with our quality content that caters as effectively to the premium audiences as it does to the masses. This is how we Create Experiences… Across Mediums With Television, Digital, Print and Live Events all vying for audience attention in an increasingly competitive landscape, restrictive use of mediums is no We stand out today as: longer an option. At Network18, we create enriching experiences for diverse consumers through News, Entertainment and Digital content, across urban and #1 rural sensibilities. Broadcast network in India in NEWS Our multi-medium experiences encompass every segment and genre. #2 in India and top 10 globally in CNBC-TV18’s business news prowess spreads across DIGITAL CONTENT its TV channel and companion website CNBCTV18. com. It also includes coveted awards, India Business Leader Awards (IBLA) being the biggest. #3 pan-India player in ENTERTAINMENT Forbes India engages with consumers through a leading business magazine, its Digital extension forbesindia.com and events like Forbes India Leadership Awards & Forbes India 30 Under 30. Moneycontrol is easily accessible to users on Website, Freemium App and even Podcast. 02 Network18 Media & Investments Limited Corporate Overview Statutory Reports Financial Statements Across Languages News18 Network 14 In a nation as culturally diversified as India, with regional news channels 22 officially recognised languages and hundreds of local dialects used across regions, we strongly 15 believe that a one-size-fits-all formula cannot be languages applied to Media & Entertainment. 600 million vernacular viewers pan-India 8 awards won by News18 languages cluster at ENBA 2019 Colors Entertainment Network News18.com has the 9 largest spread of 13 regional entertainment channels languages among Digital News publishers, Besides News, we are also providing the vernacular consumers a 360-degree experience and is among the top through our Entertainment portfolio, which includes the highly popular `Bigg Boss’ in websites in each of Hindi and the localised version of `Who wants to be a Millionaire’ in Kannada. the languages. Annual Report 2019-20 03 ‘Andhadhun’ ruled the big screen and Across Screens not only won 5 Filmfare awards, 6 IIFA awards and the 2019 National Award, but also transcended popularity Network18’s wide array of content touches user lives through screens of all sizes. From the venerable cinema-canvas where the across the border. community-viewing experience is underscored, to homes where the TV enjoys pride of place and content consumption brings families together, all the way to the new-age smartphones where media choices are intensely personal and eclectic. Voot, our exclusive digital video destination, continues to be at the centre of attention for the on-the- move consumer, with its recently Our premium Hindi movie pay channel `Colors Cineplex’ offers a launched original ‘Asur’ - India’s first broad palette of movies including premieres of new films. mytho thriller - enrapturing viewers. TV-Digital integrations like voting for reality television show Bigg Boss, auditions for talent hunts on MTV Beats, and feedback loops for fiction content through social engagement set up a virtuous cycle of gaining audience mindshare. 04 Network18 Media & Investments Limited Corporate Overview Statutory Reports Financial Statements Across Narratives Emotion is the cornerstone of touching lives through content, and variety of narratives ensures relevance and resonance amidst the diverse tastes of Indian viewers. Our stories and formats are not straight-jacketed by formulaic-definitions or rigid mindsets. Our content offerings are in a sense like the quintessential Indian “Thali”… appealing to all tastes, full of flavour, and Documentary wholesome to the core. Network18’s entertainment portfolio has accordingly expanded its ambit to encompass varied narratives, spanning Reality to Documentary, Drama, Supernatural and Comedy, among others. Drama Supernatural Live Comedy Reality Annual Report 2019-20 05 Across Genres TELEVISION Business News Entertainment Hindi General Regional Entertainment Entertainment General News National News Hindi Films Regional News English Kids Entertainment Entertainment Infotainment Factual Lifestyle Youth and Music Entertainment DIVERSITY 20 domestic TV News channels spanning 15 languages Digital News available in 13 languages TV Entertainment bouquet includes leading urban GEC and 9 regional language TV channels A film studio renowned forclutter-breaking cinema, and a leading OTT platform make it a full-portfolio offering 06 Network18 Media & Investments Limited Corporate Overview Statutory Reports Financial Statements DIGITAL CONTENT TICKETING & LIVE ALLIED BUSINESSES Business & Film & Web Series Finance Production and Distribution PUBLICATIONS News & Content Asset Opinions Monetisation Entertainment Content Creation & VOD & Production COL OSCEUM MEDIA PRIVA TE LTD REACH viewership 1 in every 2 Indians is a consumer of 10.5% share of news viewership our broadcast content Subsidiary TV18 maintained its leadership even versus TV channels reach out to 800+ million people legacy brands and free-to-air networks in India annually, representing 95%+ of the TV viewing universe 9.5% entertainment viewership share Subsidiary Viacom18 (a JV with Viacom Inc) is the 1 in every 4 internet users in India is on #3 pan-India entertainment broadcaster Network18 websites or apps Digital properties are now used by over 190 million people every month Annual Report 2019-20 07 Letter to Shareholders Dear Shareholders, In a continually changing media landscape , made even more difficult by the COVID-19 pandemic and the subsequent lockdown, Network18 has continued to focus on improving performance whilst delivering world-class news and entertainment. Our focus on setting industry-defining standards in fair journalism and engaging story- telling translated into more consumer-enriching experiences amid increased media consumption during this period. The strength of our brands and class-leading content creation years. At the same time, our growing popularity across genres, capabilities continued to enhance consumer engagement segments and languages makes us the partner of choice for across our TV channel bouquet, which includes our umbrella global brands such as CNBC, CNN, MTV, Nickelodeon, History, brands News18 and Colors, along with our Digital properties - Forbes, A+E Network, among others. Moneycontrol, Voot and News18.com. Network18 Group is at the cusp of emerging as the largest listed Our 72 channel-strong TV broadcast network, straddling News Media and Distribution company in the country. As part of the and Entertainment, is reaching out to Indians across every consolidation currently underway in the Reliance Group’s Media linguistic group with custom-built content and innovative and Distribution businesses, cable companies DEN and Hathway packaging designed to deliver to their unique expectations and are set to be merged with Network18 and TV18, subject to aspirations. With timely coverage and relevant social awareness regulatory approvals. We are getting future-ready to embrace campaigns, our News network has been an indispensable source the next phase of growth, encompassing greater depth of reach of information and insight during the ongoing pandemic. At the and breadth of content, backed by strengthened financials. same time, our portfolio of entertainment channels is keeping India entertained with engaging programming, backed by A strong focus on vernacular content curation and expansion unmatched quality. Television viewers across the country spend, of our digital outreach to the widest possible audience shall on an average, half an hour each day on our broad and exciting remain integral to our forward-looking approach, backed by palette of brands, endorsing our deep-rooted
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