New Delhi: In the past couple of months, Moneycontrol has emerged as a dominant force in business news, surpassing legacy competitors like the Economic Times in terms of users, page views and time spent on the platform.
MediaNews4U has obtained an internal email from Moneycontrol’s Managing Editor Nalin Mehta to the staff, where he highlighted the platform’s achievements and outlined a roadmap for future growth.
“A key reason for Moneycontrol being the ‘markets ki dhadkan’ is our relentless focus on breaking the biggest corporate and market news. In line with our ‘Go fast, go deep’ approach, we’re delighted that our reportage, big corporate breaks and exclusives have truly been setting the agenda,” he wrote.
According to Comscore data for February 2024, Moneycontrol has the largest number of Unique Visitors (UVs) at 28.46 million. It also maintained its massive lead in pages views (512 million) and time spent (667 million minutes).
Mehta praised the platform’s journalists for their dedication and highlighted several impactful stories that set Moneycontrol apart. He said, “Deborshi and Swaraj’s big break and comprehensive coverage of Vodafone Idea’s FPO was a good example of an agenda-setting corporate break. It was quickly followed by Swaraj’s story on how Vodafone plans to spend its FPO proceeds. Moneycontrol led throughout and the competition followed. Similarly, we had Ashwin’s break on Hinduja Group’s IIHL being in talks to acquire a majority stake in Invesco as well as his story on Japanese investors looking to buy a majority stake in Yes Bank. Deborshi did it again with his story on the Adani group eyeing a $1 billion in foreign currency bonds for expansion. The return of Bajaj Group to the public markets by Ashwin. In the startups/tech space: Deepsekhar and Vikas broke the story on Meta mulling its first data centre in India; Chandra and Tushar’s exclusive on Tiger Global, Softbank etc ending funding winter with $300 million round in Meesho. And, of course, the redoubtable Bodhi’s big sit-down interview with Jonathan Gray of Blackstone. This was the only one Gray did separately in India.”
In his email, Nalin said that stories like these are the reason why Moneycontrol is the market leader with a big lead in every metric: the highest number of unique readers in the business news space in India, three times the time-spent and more than three times the pageviews compared to its nearest competition.
“They reflect the quality of our journalism and why we are No.1. They also show how our speed, agility and news offerings have shifted the fulcrum of business journalism away from the legacy pink papers. But this is just the beginning. We must continue to focus on scooping market-moving and agenda-setting stories in the next few months as we deepen and broaden our news coverage.”
