The print media in India has been going through tough times. Shobhana Bhartia, chairperson and editorial director, HT Media, which publishes Hindustan Times, Hindustan and Mint, has over the years focused on digital to drive growth. OTTplay, the recommendation and content discovery platform for streaming services launched by HT Labs, the group’s innovation platform, has turned into a streaming service featuring content from OTT platforms. To cater to the youth, the group launched HT Smartcast, which offers podcasts on sports, markets, fashion, news and nostalgia.
HT Media reported consolidated revenues of ₹1,678 crore in FY22, up 26% over ₹1,331 crore in FY21. Consolidated profit after tax was ₹19 crore as against a loss of ₹65 crore in the previous fiscal. “Advertising revenues from print and radio businesses in last quarter have grown over last year owing to sustained efforts of our teams and gradual improvement in the business environment. Circulation revenues too are on an upswing. Digital revenue grew handsomely,” Bhartia said when Q4 results were announced. — Anup Jayaram