HT Media's total revenue stood at Rs 494 crore in Q4FY23; up by 8% versus Q4FY22's Rs 456 crore. On a full year basis, total revenue is up by 11% on the back of improved print and radio business performance, the company stated.
The print business of HT Media generated Rs 269 crore advertising revenue in Q4FY23 in comparison to Rs 249 crore in Q4 of FY22. The ad revenue of the print business also rose by 8% from last year’s Q4.
The improvement in ad revenue on a full year basis is primarily led by ad volume, and there’s growth in both English and Hindi business, the company said.
The company’s circulation revenue is up by 12% to Rs 60 crore from the Rs 53 crore in the corresponding quarter of last year. Circulation revenue for the fiscal year also showed strength owing to higher copies and realisation per copy, the company stated.
HT Media’s radio business (Fever Nasha, Fever FM and Radio One) saw an 18% rise in operating revenue in the quarter to Rs 36 crore.
The operating revenue of HT Media’s digital business has declined 6% YoY in Q4FY23 to Rs 32 crore, versus Rs 34 crore in the corresponding quarter of the previous year.
Shobhana Bhartia, Chairperson and Editorial Director, HT Media and Hindustan Media Ventures, said, "On a full year basis, our Print business posted revenue growth on the back of an improvement in advertising as well as circulation revenue. The revenue of our Radio business has also seen robust growth owing to sustained strength in FCT and improvement in non-FCT performance. Our Digital business performance was at par and this business remains a key focus area for further innovation. Profitability, however remained subdued due to elevated input costs, led by newsprint and business development expenses in the Digital business."
Furthermore, she went on to add that Indian OTT space is one of the fastest growing pillars of the Media and Entertainment industry. Hindustan Media Ventures looks to tap this potential with the launch of OTTPlay.com, a platform which aggregates OTT content, with focus on abundance, convenience, personalisation and affordability.
"In the current fiscal, we are focused on building on our growth momentum from last year as we navigate the larger macro environment as well as the evolving media ecosystem. As always, our endeavour is to be a source of credible news and engaging content for our audiences," Bhartia added.