In an environment where advertising spends remain under pressure and traditional media economics are being steadily disrupted, Rahul Joshi, Managing Director of Network18, has made it clear that standing still is not an option. Speaking to CNBC-TV18, Joshi outlined a deliberate pivot: from being perceived largely as a news broadcaster to operating as a diversified content and platforms company with multiple, resilient revenue engines.
Holding Ground in a Tough Market
The broader media industry has seen advertising growth slow sharply, with some segments even registering declines. Against this backdrop, Network18’s mid-single-digit growth stands out. Joshi acknowledged that government measures over the past year have offered some support to consumption, but stopped short of calling the ad market healthy. The real challenge, he noted, is no longer just competition among media houses; it is the scramble for ad budgets against e-commerce, quick commerce, and a growing universe of digital-first platforms.
This intensifying competition has reinforced Network18’s strategy of diversification. While news remains central to its identity, growth is increasingly coming from adjacent content categories, formats, and business lines that are less vulnerable to cyclical ad slowdowns.
From News Company to Content Company
A recurring theme in Joshi’s comments was the conscious reframing of Network18’s self-image. Rather than defining itself narrowly as a news organisation, the group is investing in becoming a broader content enterprise. Its portfolio already spans market leaders across business news, general news, and digital brands, but the focus now is on monetisation models that go beyond traditional spot advertising.
Pricing power, Joshi suggested, is only one lever. The more sustainable lever lies in building alternate revenue streams—subscriptions, tools, services, and creator-led ecosystems—that reduce dependence on any single platform or algorithm.
Subscriptions, Tools and Financial Services Adjacent Plays
One of the clearest examples of this shift is Moneycontrol’s evolution. Subscription products have scaled meaningfully, with higher-tier offerings delivering significantly improved average revenue per user. Alongside content, Network18 is building proprietary tools—such as stock scoring systems and investor analytics—that sit behind paywalls and deepen user engagement.
Crucially, these initiatives are not about turning the company into a traditional financial services player. Instead, Joshi positioned Network18 as a “money ecosystem”—a one-stop destination that helps users consume information, make better investment decisions, and access relevant financial products. Lending, research, and premium tools are all extensions of an audience relationship that already exists at scale.
Creators, Platforms and Younger Audiences
Another pillar of Network18’s diversification is its creator strategy. With initiatives like Creator18, the group is partnering with independent creators who bring younger, Gen Z–skewed audiences and new content formats. The logic is straightforward: creators gain distribution, credibility, and monetisation support, while Network18 benefits from fresh audiences, formats, and shared revenue opportunities.
This approach also mitigates platform risk. As Joshi pointed out, reliance on third-party algorithms—particularly on video platforms—can expose publishers to sudden revenue volatility. Building owned communities, subscription bases, and creator partnerships is a way to regain control over monetisation.
Global Partnerships in a Connected World
Joshi also underlined the strategic importance of Network18’s long-standing global partnerships. Renewed alliances with international brands are not legacy relationships, but critical assets in a world where geopolitics, markets, and economic narratives are deeply interconnected. Extending these partnerships more meaningfully into digital strengthens credibility and content depth, particularly as global news and explainers gain prominence with Indian audiences.
A Re-rating in the Making?
From an investor perspective, Joshi acknowledged that news-led media businesses globally tend to trade at lower multiples. Network18’s response is not to fight that perception head-on, but to change the underlying business mix. As news converges with explainers, infotainment, tools, and services, the company is positioning itself closer to platform-led, subscription-backed models that command stronger valuations.
The transition is still underway, and macro uncertainty is unlikely to ease overnight. But Network18’s direction is clear: diversify revenues, de-risk the business from advertising cycles, and monetise trust and scale in new ways.
In an era where the battle for attention and advertising is fiercer than ever, Network18’s strategy suggests that the future of media may belong less to those who break news fastest—and more to those who can build enduring ecosystems around it.
