News Broadcasting
We are in the advertising business: BCCL MD Vineet Jain
MUMBAI: Bennett, Coleman & Company Ltd. (BCCL), which owns The Times of India Group of newspapers, is a dominant player in the media business in India because it is very advertisement savvy.
“We are not in the newspaper business, we are in the advertising business,” Vineet Jain, the managing director of BCCL, is quoted as saying by The New Yorker, while dwelling on the dominance of his company in the media business in India.
The argument of BCCL is that with newspapers sold so cheaply and generating little circulation revenue, newspapers depend more on ad revenue. “If ninety per cent of your revenues come from advertising, you’re in the advertising business,” Jain says. His elder brother Samir Jain is the vice-chairman of BCCL.
These comments by Jain appear as part of a feature by The New Yorker, a US magazine published since 1925, on the dominant media conglomerate which appeared on 8 October.
“Both of us think out of the box. We don’t go by the traditional way of doing business,” Vineet Jain said.
The New Yorker notes that the Times group flagship The Times of India’s innovations begin in its eight-page second section, which is titled the Bombay Times. The section brims with color pictures of seductive women and muscular men, along with stories of Bollywood stars, handsome cricket pros, and international celebrities.
The day The New Yorker’s Ken Auletta met Vineet Jain, the lead story in Bombay Times had described how aspiring actors, including a sultry Saiyami Kher, “are keen to start their innings in Bollywood.”
Jain explained to Auletta that, like the surrounding stories, it (the lead story) was written by members of the reporting staff and paid for by the celebrities or their publicists.
The feature said an internal company report in June lauded the strategy as “so important that today nearly all Bollywood movie releases pay for promotional coverage ahead of movie releases, and actors/actresses pay to develop their brand through coverage in the paper.”
Jain got the idea after reading an interview with Richard Branson, the owner of the UK’s Virgin Group, in which Branson remarked that the reason he parachutes from airplanes and performs similar stunts is that, with this free publicity, he annually saves his company tens of millions of dollars in advertising.
“When I read it, I said, ‘Oh, my God, eureka—I’m stupid!’ ” Vineet Jain said. “Why these guys are not advertising in my paper is because I’m giving them free P.R.”
News Broadcasting
Network18 Q4 revenue grows 9.7 per cent, EBITDA at Rs 30 crore
PAT improves to Rs 306.6 crore, margins steady amid cost pressures.
MUMBAI: Not all news is breaking, some of it is quietly improving. Network18 Media & Investments Limited appears to be doing just that, tightening losses and stabilising margins even as costs continue to weigh on the business. For FY26, the company reported revenue from operations of Rs 1,955.1 crore, up from Rs 1,896.2 crore in FY25, signalling modest top-line growth in a challenging media environment. Total income stood at Rs 1,978.2 crore, compared to Rs 1,913 crore a year earlier.
Profit after tax came in at Rs 306.6 crore for the year, a sharp turnaround from Rs 3,225.4 crore in FY25, largely reflecting the absence of large exceptional items that had inflated the previous year’s numbers. On a more comparable basis, the company’s operating performance showed signs of gradual stabilisation.
However, the quarterly picture remained under pressure. For the March quarter, Network18 reported a loss of Rs 53.1 crore, narrower than the Rs 98.1 crore loss in the same period last year, but still indicative of ongoing cost challenges.
Expenses continued to track high. Total expenses for FY26 stood at Rs 2,235.7 crore, up from Rs 2,197.8 crore in FY25. Key cost heads included operational expenses of Rs 765.9 crore, employee benefits of Rs 475.9 crore, and marketing, distribution and promotional spends of Rs 427.1 crore, underlining the continued investment required to sustain reach and engagement.
At an operating level, margins remained under strain. Operating margin stood at 2.33 per cent for FY26, marginally higher than 1.77 per cent in FY25, while net profit margin remained negative at -13.02 per cent, though improved from -14.89 per cent.
On the balance sheet, total assets rose to Rs 8,957.6 crore as of 31 March 2026, from Rs 8,317.5 crore a year earlier. Equity strengthened to Rs 4,958.7 crore, while borrowings increased to Rs 3,112.8 crore, reflecting a higher reliance on debt to support operations.
Cash flows told a mixed story. While financing activities generated Rs 83.9 crore, operating cash flow remained negative at Rs -24 crore, highlighting ongoing pressure on core cash generation. Cash and cash equivalents, however, improved to Rs 33.9 crore from Rs 1.8 crore.
The numbers point to a company in transition growing revenues, trimming losses, but still grappling with structural cost pressures. In a sector where scale often comes at a price, Network18 seems to be inching towards balance, one quarter at a time.
