Times Internet has recorded a revenue of Rs 1,625 crore for FY20 , with news and entertainment each  accounting for 31% share.

While the overall revenue has shown a growth of 24%, advertising revenue has increased 22%, with faster growth in music and video.

The overall number of subscribers to Times Prime or individual underlying products has seen an increase of 62%, with the subscriber number crossing 2 million last year.

The company has said: “Our annualized GMV in transacting businesses grew 68%, with net revenues growing 75%. Revenues for our emerging transaction businesses have grown significantly – Qureka has grown 8x, Gradeup 4x, and Dineout 2.4x. A few years ago, we consciously decided to diversify our revenue streams. We broadened our media strategy beyond news, and we focused on building businesses with a strong direct-to-consumer connect, as well as transactional and subscription revenue streams. We’ve made significant progress on these fronts, and today, our revenue mix is well-diversified, and our subscription and transaction revenue streams are growing faster than advertising.”

In a report released by Times Internet, the company has said that in less than 18 months of acquring MX Player, the platform now engages over 200 million monthly users, making it the largest premium video destination in India.

Over 30% of consumption comes from MX Originals. “MX is further leveraging its audience strengths with growth in gaming and short-form video. MX Takatak, launched just 45 days ago, is already seeing hundreds of millions of daily streams, and is poised to grow well in the year ahead,” the report says.

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