Mukesh Ambani bullish on news business - excerpts from AGM speech

Speaking at the 47th Annual General Meeting of Reliance Industries yesterday (August 29, 2024), Mukesh Ambani, Chairman and Managing Director, RIL, said, “Our News business is reaching new heights. This is due to our focus on high-quality journalism. We lead in both general and business news. We are the only network in India with global ambitions.”

Ambani added that News18 was India’s top TV network for election news, with the channel reporting reach on June 4, the counting day, that was nearly 50% higher than the IPL final.

“CNBC TV18 had an 82% viewership share on the Budget Day. This is in line with its weekly performance. CNN-News18 often outperforms all other channels combined. It has been No. 1 for over two years,” he pointed out.

Speaking about Moneycontrol, Ambani said that it is transforming into an advanced fintech provider of data and analytics for users in India and beyond. “It is unmatched in speed and accuracy. It has 70 million unique visitors. Our premium service, MC Pro, now has over 850,000 paid subscribers. This makes it a Top 10 subscription site globally and the largest in India,” he added.

He further said, “Firstpost is becoming a global news powerhouse. Its subscriber base has more than doubled in the last 12 months. In July, Firstpost recorded 127 million video views. This ranks it sixth among global peers. Firstpost is recruiting top talent to become the definitive global news destination from India.”

“I believe it is time for India, as the world’s most populous nation, to assert its voice and gain its rightful space in the influential global media,” Ambani affirmed.

Also Read: Moneycontrol an advanced fintech provider; Firstpost a news powerhouse: Mukesh Ambani