Reliance Industries' media business has witnessed its highest-ever growth last year, said Mukesh Ambani, RIL Chairman and MD, during the company’s 45th annual general meeting (AGM).
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He added, “The growth has come on the back of strong engagement, resulting in record subscriptions and advertising revenues.”
Terming CNN-News18, CNBC-TV18 and News18 India as the No. 1 news channels and Moneycontrol being among the world’s most popular subscription products, he said, “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.”
Talking about the company’s entertainment arm, Ambani said that Viacom18 consolidated its leadership position with a high-decibel entry into sports, bagging the digital rights of IPL for five years.
“Along with key sporting rights in Football, Badminton, Basketball, and Tennis, there is now Cricket,” added Ambani.
He also pointed out that Viacom18 is also aggressively investing in movie rights and original content for OTT.
He concluded, “In news, entertainment, and sports, digital is a core and fast-growing theme as we prepare 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 and Entertainment business.”