In response to the rising trend of cross-platform content consumption, Network18 is taking steps to become a media-tech conglomerate by embracing technology to enhance its offerings.
With the rise of technologies like generative AI and ChatGPT, the group aims to leverage these advancements to provide advanced products and services to its audience and customers. This would be a pioneering endeavor for a news network.
On the digital front, Network18’s digital publications, Moneycontrol, a digital platform for financial news, boasts over half a million paid subscribers in the segment. On the other hand, Firstpost experienced 673 pc growth on its YouTube channel following its video pivot earlier this year, as reported by the company.
In recent months, Network18’s management has been actively working to unify its digital and broadcast teams, merging editorial, business, and operational functions. The aim is to develop solutions that offer maximum value to users, ranging from streamlined story planning to seamless content consumption across devices. To establish an integrated broadcast and digital ecosystem across all brands within the network, the group recently announced appointments and expanded responsibilities in its top leadership.
In addition to this, the company has been avoiding the traditional practice of solely recruiting from within the media industry. By bringing in individuals with diverse backgrounds such as big tech and start-ups, Network18 is cultivating a versatile workforce that can scale its media-tech aspirations.
Among such appointments, Ankit Fitkariwala, formerly the Chief Business Officer & Head of Products at 5paisa Capital, recently joined Moneycontrol as Chief Product and Technology Officer (CPTO). Another addition to the team was Sunil Sharma, who assumed the role of Chief Product & Technology Officer of Network18. Equipped with rich experience from his past positions at ‘Big Tech’ companies like Byju’s and Amazon, Sunil leads the group’s digital technology initiatives, overseeing areas such as tech architecture, content management, data analytics, and monetisation strategies. His mandate includes leveraging cutting-edge technologies like generative AI to transform processes, engage audiences, localise stories, and optimise content distribution.
A senior executive at Network18 emphasised the organisation’s commitment to a technology and product-centric approach, stating, “Our aim is not only to outpace competitors but also to elevate and expand the news landscape through digital-led technology and product innovations. Roping in diverse talent is a crucial step in this direction. With a highly diversified talent pool, surpassing that of any other media company, we are committed to evolving with the times.”
(This information is published from a press release.)
