T.V. Today Network Ltd Management Discussions

GLOBAL AND INDIAN ECONOMY OVERVIEW

GLOBAL ECONOMY _

The global economy is navigating a period of heightened uncertainty amid ongoing geopolitical tensions in the Middle East. The conflict has contributed to increased energy prices, renewed inflationary pressures, and expectations of tighter monetary conditions in several economies. According to the World Bank, global GDP growth is projected to moderate to 2.5% in 2026 from 2.9% in 2025, the lowest growth rate since the pandemic 1 . Beyond geopolitical risks, persistent trade policy uncertainty, supply-chain disruptions, and climate-related events continue to pose challenges to the global growth outlook. At the same time, increased investment in and adoption of artificial intelligence (AI) could support productivity gains and provide an upside to economic activity.

Before the conflict, the global Inflation was largely stable but with supply disruptions of crucial commodities, particularly oil and natural gas, the global inflation has picked up. In all, global headline inflation is projected to pick up to 4% in 2026, with advanced economies seeing the inflation rise due to increases in energy costs. Global inflation is expected to moderate to 3.1% in 2027 as the average crude price declines 2 . At the same time, downside risks have become more pronounced, with adverse scenarios involving prolonged conflict or deeper energy disruptions potentially weakening growth further, particularly in emerging and developing economies. Trade and policy uncertainty continue to shape the global outlook, influencing investment decisions, supply chain strategies and capital flows. At the same time, structural drivers such as digitalisation, artificial intelligence and automation continue to support productivity and long-term competitiveness, although benefits remain unevenly distributed. The global economy in 2026 is expected to remain stable but increasingly vulnerable to downside risks, underscoring the importance of policy coordination, resilience and risk management.

INDIAN ECONOMY _

India continues to remain one of the fastest growing major economies, demonstrating strong momentum despite a challenging global environment. According to the National Statistical Offices latest estimates, real GDP growth is projected at 7.7% in FY 2025-26, supported by robust performance across manufacturing and services 3 . The IMFs April 2026 outlook reinforces this trajectory, noting that Indias growth for 2025 has been revised upward to 7.6%, driven by stronger-than-expected performance across recent quarters. Growth for 2026 is projected at 6.5%, supported by carryover from the strong 2025 outturn and easing trade pressures, and is expected to remain at 6.5% in 2027 4 .

Global geopolitical developments, including tensions in West Asia and associated energy market disruptions, have had limited direct impact on Indias growth trajectory, though second order effects are evident. As highlighted by the International Monetary Fund (IMF), energy importing emerging economies face higher exposure to commodity price shocks and tightening financial conditions. However, prudent macroeconomic management, diversified energy sourcing and adequate foreign exchange reserves have helped India contain inflationary pressures and maintain external stability.

Large developing economies, including India, are expected to continue experiencing solid growth supported by domestic demand and policy measures, even as global growth moderates. While disruptions in the Middle East may weigh on parts of Asia through tourism and remittance channels, Indias strong domestic fundamentals position it as a key contributor to global economic activity. Overall, Indias economic outlook remains robust, supported by structural reforms, a large domestic market and sustained consumption, while global uncertainties warrant continued monitoring.

OVERVIEW OF THE INDIAN MEDIA & ENTERTAINMENT (M&E) SECTOR

The Indian Media & Entertainment (M&E) industry recorded a strong recovery and structural acceleration in CY2025, reaching an estimated size of 2.78 lakh crore, marking 9.1% year on year growth 5 . Industry growth outpaced per capita GDP expansion, underscoring renewed momentum driven primarily by digital media, advertising, and experiential consumption. The sector is expected to sustain this trajectory, reaching 3.3 lakh crore by 2028, a mid term CAGR of approximately 7% 6 .

Segment	2024	2025
Digital media	85.1	111.0
Television	67.9	61.7
Print	25.7	25.9
Filmed entertainment	18.7	20.5
Online gaming and video games	23.6	19.5
Live events	10.1	14.5
Animation and VFX	10.3	10.5
Out-of-home media	5.9	6.7
Music	5.3	5.9
Radio	2.5	2.3
Total	255.3	278.5

M&E Industry segment revenue breakup All figures are gross of taxes ( in thousand crore) for calendar years EY Estimates: FICCI-EY M&E Industry Report 2026

CY2025 represents a decisive inflection point, as the industry transitions from a digital vs. traditional phase to a digital first operating model, fundamentally reshaping content creation, distribution, and monetisation economics.

Advertising has grown by 13.5% in 2025 to approximately INR 1.5 lakh crore. The ecosystem is

M&E Industry Advertising Spend Breakup All figures are gross of taxes ( in thousand crore) for calendar years EY Estimates: FICCI-EY M&E Industry Report 2026

Indian advertising reached INR 1.5 lakh crore in 2025, growing 13.5% and outperforming real GDP growth of 7.4%. Growth was driven by digital media, which increased its share to 63% of total advertising and accounted for the majority of ad growth, reflecting the continued shift in consumer consumption. Traditional media (excluding television) also contributed, while television advertising declined due to lower ad volumes and the migration of viewership to Connected TV, captured under digital. Advertising is estimated to grow a further 10.5% in 2026.

Overall, the industry is transitioning towards a digital-first model, with data-driven and multi-platform strategies shaping future growth. While traditional media continues to provide scale, digital media and advertising are expected to remain the primary engines of expansion, supported by innovation, regionalisation and evolving consumption patterns.

Indian Advertising Market (INR Thousand Crore)
SEGMENT	2024	2025
Television	29.7	26.3
Print	17.7	17.9
Radio	2.5	2.3
Cinema	0.9	0.9
OOH	5.9	6.7
Total traditional	56.3	54.2
Digital	74.9	94.7
Online gaming	1.4	1.5
Total digital	76.2	96.2
Total advertising	132.6	150.4

witnessing a strong shift towards digital, which now contributes 63% of total advertising revenues and continues to expand rapidly, driven by performance marketing, e-commerce and increased participation from SMEs and long-tail advertisers. In contrast, traditional media such as television and radio are experiencing declining ad volumes due to shifting audience behaviour and growing digital adoption.

NEWS MEDIA INDUSTRY

TELEVISION _

Television news consumption remained resilient during 2025, with linear TV viewership witnessing only a marginal decline, while average weekly reach remained stable at approximately 745 million viewers. Hindi news viewership grew by 4%, while English news registered a 6% growth during the year. Regional news viewership declined by 6%, primarily due to its dependence on market-specific news cycles and regional events that influence audience engagement. At the same time, news consumption continued to fragment across platforms, with increasing digital adoption encouraging broadcasters to diversify content offerings across local, issue-based, and non-traditional news formats 7 .

ONLINE / DIGITAL _

The online news ecosystem witnessed a moderation in reach during 2025, with the overall audience base declining by 9% to 428 million from 461 million in 2024. Industry stakeholders attributed this decline largely to the growing adoption of AI-powered search summaries and the increasing use of AI applications, which have impacted traditional news discovery and consumption patterns. Despite these changes, online news continued to remain an important medium for advertisers, reaching approximately 29% of Indias population. The segment also saw strong growth in subscription-led models, with news subscription revenues increasing by 50% to INR 500 crore, driven by demand for premium, exclusive, and differentiated content 8 .

PRINT _

The print news industry continued to maintain its relevance in advertising, with English and Hindi publications collectively contributing 67% of total newspaper advertising volumes during the year. Within the magazine segment, English magazines accounted for 50% of total magazine advertising volumes, increasing from 48% in 2024. South Indian language publications collectively contributed 20% of magazine advertising volumes in 2025, while Marathi publications alone accounted for 9%, highlighting the continued importance of language-led publications in the print ecosystem 9 .

KEY TRENDS SHAPING THE M&E INDUSTRY

The Media and Entertainment (M&E) industry is undergoing a structural transformation, driven by rapid digitalization, evolving consumer behavior, and technological advancements. While traditional formats such as television continue to play a critical role in mass reach and credibility, growth is increasingly being shaped by digital platforms, data-driven advertising, and immersive content formats.

The following key trends are redefining the industry landscape:

1. Growing Importance of Trust, Credibility, and Brand Safety

In an increasingly fragmented and information-rich environment, trust and credibility have become critical differentiators, particularly in the news segment. Advertisers are increasingly aligning with platforms that offer brand-safe, transparent, and reliable environments. This trend is reinforcing the value of established and trusted media platforms.

2. Convergence of Television and Digital through Connected TV (CTV)

Connected TV (CTV) is redefining content consumption by combining the scale of traditional television with the targeting capabilities of digital platforms. Growth in broadband access, smart devices, and premium video content is accelerating adoption. CTV is also unlocking new advertising opportunities through enhanced targeting, measurement, and interactivity.

3. Television Remains Relevant

DD Free Dish expanded its reach to over 6.5 crore households, registering an estimated 30% year-on-year growth and reinforcing its position as Indias largest free-to-air DTH platform. Despite a modest decline in television revenues in 2025, television continues to remain a highly relevant medium, with an unmatched weekly reach of around 745 million viewers, particularly across mass and rural markets.

4. Digital Advertising Driving Industry Growth

Digital media has become the largest and fastest-growing segment, expanding by 30% in 2025 and driving overall industry growth. This growth is supported by rising smartphone penetration, affordable data, and evolving consumer preferences. Digital revenues are increasingly diversified across advertising, subscriptions, and e-commerce-linked spends. Subscription revenues have seen strong traction, with paid video subscriptions crossing 200 million, while regional content, creators, and user-generated formats continue to dominate consumption trends. The integration of Artificial Intelligence (AI) is further enhancing content creation, personalisation, and monetisation.

Globally, advertising revenues are expected to outpace consumer spending, with brands prioritizing measurable, targeted, and outcome-driven campaigns.

5. Multi-Platform and Mobile-First Content Consumption

Consumer behavior is increasingly platform-agnostic, with audiences consuming content across television, smartphones, social media, and OTT platforms. Short-form and mobile-optimized content formats are gaining prominence, particularly among younger audiences.

This is leading to a shift toward integrated content strategies designed for distribution across multiple platforms.

6. Artificial Intelligence Enabling Scale and Personalization

Artificial Intelligence (AI) is transforming the M&E value chain by enabling automation, personalization, and operational efficiency. AI applications include content creation, localization, recommendation engines, and targeted advertising.

AI is expected to further enhance productivity and unlock new creative possibilities across the industry.

DISTRIBUTION AND IMPACT ON BROADCASTERS

Indias broadcast ecosystem, as of Dec 31, 2025, continues to evolve with shifts in distribution, channel availability, and subscriber dynamics across cable, DTH, IPTV, and Free Dish platforms.

MSO & HITS Distribution 10

The cable TV ecosystem remains extensive, with a few dominant players accounting for the majority of subscribers. l 844 MSOs registered with MIB 11 l There are 774 MSOs, and 1 HITS operator registered with MIB as on 31st December 2025 12 l 11 oper ators (11 MSOs, 1 HITS) have bases over 10 lakh 13 l T op 3 by subscribers: GTPL Hathway, Hathway

Digital, Siti Networks 14

TV Channels & Downlinking

Satellite TV continues to be a major distribution mode with wide content availability across formats and genres. l 920 pr ivate satellite TV channels permitted downlink/both) 15 l 911 per mitted for downlinking in India 16 l 335 pa y TV channels (232 SD 103 HD) 17

Pay DTH

DTH platforms remain vital for pay TV access but face declining subscriber numbers, reflecting broader shifts in viewing habits.

l 50.99 million active pay DTH subscribers (down from 52.78 million in Sep 25) 18

l Top Pla yer: Tata Play (31.08%), followed by Telemedia (28.53%) 19

IPTV (Internet Protocol Television)

IPTV adoption, though limited, continues to build a niche presence in Indias digital broadcast landscape. l 70 IPTV operators registered with MIB 20

News Genre Viewership

l Despite the Lok Sabha elections held in 2024, news viewership reduced just 3% in 2025 21

l Hindi ne ws viewership grew by 4% and News grew by 6% 22

l Regional news (-6%) observed some softness given its dependence on the respective regional news stories which play a role in the news cycle of each of the markets 23 l Ne ws consumption continues to fragment platforms, with rising digital reach driving content diversification into local, issue based, and non-news formats 24

Key Regulatory Developments

l Recent regulatory actions by TRAI 25 and judicial rulings are reshaping pricing, packaging, and platform parity across Indias broadcast value chain.

l NCF cap removed - Operators can now set pricing freely by region/channel count

l Bouquet rules - Only channels?19 MRP allowed in bouquets

l Max 45% discount allowed on bouquet vs a-la-carte price

l TRAI recommendations on: l EPG listing l Addressable system upgrade for DD Free Dish l FTA Mandate - Channels free on DD platform must also be FTA across all addressable platforms

l Legal Proceedings:

l TRAIs authority upheld by Bombay HC l SC referred matter to TDSAT l TDSA T on Dec 20: No stay; broadcasters to revised RIOs in 2 weeks TRAI Telecommunication (Broadcasting and Cable) Services Interconnection (Addressable Systems) (Seventh Amendment) Regulations, 2026

The Telecommunication (Broadcasting and Cable) Services Interconnection (Addressable Systems) (Seventh Amendment) Regulations notified on 05th February 2026, aim to strengthen the audit framework for addressable TV distribution and to address concerns around repetitive audits and infrastructure sharing.

The regulations require all distributors to conduct audits and submit reports every financial year by 30th September. However, to promote ease of Englishdoing business, the audit requirement is optional for distributors with fewer than 30,000 users, and if required, a broadcaster may cause audit on such distributors to be undertaken at its own cost.

DD Free Dish l As of January 2026, DD Free Dish hosted 484 television channels, including 45 Doordarshan channels and 321 educational channels.

l The F ree Dish service also carries All India Radios audio programming across 64 satellite radio channels.

l Under TRAIs order, which has been upheld TDSAT, channels offered free on DD Free Dish must also be available as free-to-air (FTA) on other DPOs.

l As per our estimates, Free TV, supported by Prasar Bharatis Free Dish satellite service, grew by 4.5 million connections in 2025, reaching approximately 53 million homes.

The platform recently refreshed its channel list following the 8th Annual e-Auctions for the period April 1, 2026, to March 31, 2027:

MPEG-2 Slots: 55 slots were allotted, generating 642 crore, a 17.7% decline from the previous year in revenue. High-demand channels include Hindi GECs like Star Utsav, Sony Pal, and Zee Anmol.

MPEG-4 Slots: 39 channels secured slots, including a brand-new devotional channel called Mandir and several regional news and entertainment channels.

BARC NEWS RATING SUSPENSION

The Ministry of Information and Broadcasting (MIB) has directed the Broadcast Audience Research Council (BARC) to suspend television rating points (TRPs) for all news channels for four weeks, starting March 6, 2026, later extended in April. The move follows concerns over unwarranted sensationalism in coverage of the Iran-US-Israel conflict, aimed at reducing public panic and competitive sensationalism. The Suspension extends for further 4 weeks and still continues.

Exclusion of Landing Page Report from Viewership Data

The Ministry of Information and Broadcasting (MIB) has formalized the exclusion of landing page viewership from television audience measurement, directing the Broadcast Audience Research Council (BARC) to stop including these impressions in official Television Rating Points (TRP) reports.

OPPORTUNITIES AND THREATS

OPPORTUNITIES

1. Integrated Cross-Platform Monetisation and Enterprise Selling

As media consumption becomes increasingly fragmented, advertisers are seeking unified solutions that deliver scale, credibility, and measurable outcomes across touchpoints. Your Company is well-positioned to deepen enterprise-wide monetisation through integrated offerings with its 4 television channels, 25+ digital properties, 50+ social media handles, 50+ national and regional events, branded content, and intellectual properties. This approach can enhance yield, improve client stickiness, and strengthen long-term advertiser partnerships.

2. Scaling High-Value IPs and Experiential Offerings

Marquee events, issue-led campaigns, thought leadership forums, and branded properties offer meaningful opportunities to diversify revenues beyond traditional advertising. Your Company can leverage its strong brand equity to build deeper audience affinity while unlocking high-value experiential and sponsorship-led growth.

3. Strengthening First-Party Data and Owned Ecosystems

As platform-led distribution becomes increasingly unpredictable, building stronger direct consumer relationships presents a significant strategic opportunity. Your Company can deepen engagement through owned platforms, apps, newsletters, and personalised experiences, enabling stronger first-party data capabilities, sharper audience insights, better retention, and more resilient monetisation.

4. Regional and Language Expansion

Indias next phase of media growth is increasingly being driven by regional audiences and language-first consumption. Your Company is well-positioned to deepen relevance by expanding vernacular offerings, local storytelling formats, and market-specific audience solutions, thereby widening reach and advertiser appeal.

5. Premiumisation Led by Trust and Brand Equity

In an environment marked by information overload and rising concerns around content authenticity, trusted news brands continue to command strategic value. Your Companys strong editorial legacy and deep audience trust create an opportunity to attract premium advertisers, strengthen audience loyalty, and reinforce pricing power across platforms.

6. Multi-Platform Content Repurposing and Asset

Efficiency

A strong editorial engine creates opportunities to maximise value from a single content investment across television, digital video, articles, podcasts, social formats, and explainers. This multiplatform content flywheel can improve asset productivity, expand audience touchpoints, and enhance returns on editorial investments.

7. AI-Led Productivity and Content Innovation

AI is emerging as a powerful enabler across the media value chain, driving efficiency in content creation, language adaptation, archive utilisation, workflow automation, and audience intelligence. Your Company has an opportunity to improve speed, optimise costs, and enhance content relevance through responsible deployment of AI-led capabilities.

THREATS

1. Dependence on Third-Party Platforms and Algorithmic Volatility

Reliance on large global platforms for traffic, content discovery, and audience engagement exposes publishers to sudden algorithmic changes, evolving platform priorities, and opaque distribution practices. Such shifts may adversely impact reach, user acquisition, and monetisation outcomes.

2. Evolving Regulatory and Policy Framework

The media and digital ecosystem continue to evolve alongside changing expectations around content governance, platform accountability, consumer protection, and compliance standards. As regulatory frameworks adapt to new technologies and formats, the resulting uncertainty may increase operational complexity, require continuous process recalibration, and impact business agility.

3. Changing Audience Behaviour and Platform Fragmentation

Audience preferences continue to shift rapidly across television, digital, social, streaming, and creator-led ecosystems. The increasing fragmentation of attention and changing consumption habits pose an ongoing challenge to sustaining reach, relevance, and monetisation across platforms.

4. AI-Led Disruption in News Discovery and Consumption

The rise of AI-powered search, content summaries, and recommendation engines is reshaping how audiences discover and consume news. This structural shift may reduce direct platform visits, affect referral traffic, and disrupt traditional digital monetisation pathways.

5. Synthetic Content Risks and Trust Erosion

The proliferation of AI-generated misinformation, manipulated media, and unauthorised use of original content creates increasing risks around editorial credibility and audience trust. Safeguarding authenticity and protecting content value remain critical priorities in this evolving environment.

6. Advertising Sensitivity to Macroeconomic Cycles

Advertising revenues remain closely linked to economic conditions, consumer demand trends, and business confidence. Any moderation in spending sentiment, sector-specific weakness, or campaign delays may impact revenue visibility and profitability.

7. Talent and Capability Transition Risks

As the media landscape evolves, demand for specialised talent across editorial, digital products, technology, and analytics continues to rise. Attracting, retaining, and continuously upskilling talent remains critical to sustaining innovation and competitiveness.

OUTLOOK AND PERFORMANCE

TELEVISION

Our Companys flagship news brands - Aaj Tak, Aaj Tak HD, India Today TV, and Good News Today (GNT) continued to drive television performance in FY 2025-26, sustaining leadership across Hindi News, HD News, English News, and FTA segments. TV Today Network stands as the #1 network of national news channels. 26

TV Today Network: Dominating the TV News Landscape 27 l Aaj Tak sustained its leadership in the Hindi News genre across FY 2025-26, consistently ranking #1. 28 l Aaj Tak HD continued to dominate the HD News category, emerging as the #1 HD News Channel in India, with a significant lead over competing channels. 29 l On Free-to-Air platforms, Good News Today delivered strong performance, achieving higher reach than key Hindi News competitors, reinforcing the networks strength in the FTA segment. 30 l India Today TV maintained its leadership in the English News genre, ranking #1 in both morning prime time and the 9 PM time band, along with the highest time spent per viewer. 31

Aaj Tak: Continued Leadership in Hindi News

Aaj Tak maintained its leadership position in the Hindi News genre across FY 2025-26: l #1 among affluent audiences across the year 32 l Highest Gross AMA among competitors:

26 Source: BARC India 22+ NCCS A 01st Apr 2025 - 31st Dec 2025 24 Hrs Gross AMA in Millions Network Names as reported by BARC {Excluding Regional Channel}

27 The Data is presented for 3 Quarters of FY25-26 as the Last Quarters viewership reporting is incomplete owing to suspension of Individual News Channel Data reporting by BARC The Reporting Methodology of News Channels Viewership Data changed from Augmented Data Reporting System {4 Week Rolling Averages} to Regular Unrolled Data Reporting since Week 242025 {14th June 2025 onwards}

28 BARC HSM 22+ NCCS A 01st Apr 2025 to 31st Dec 2025 24 Hrs Gross AMA in Millions

29 Source: BARC India 22+ NCCS A 01st Apr 2025 to 31st Dec 2025 24 Hrs Relative Share % Based on AMA000

30 Source: BARC HSM 22+ NCCS A Free Platform 01st Apr 2025 to 31st Dec 2025 24 Hrs Cume Rch in Millions

31 Source: BARC Megacities 22+ NCCS A 01st Apr 2025 to 31st Dec 2025 Mon - Fri 21:00 - 22:00 Hrs ATS {Viewer} In Minutes ; BARC Megacities 22+ NCCS A 01st Apr 2025 to 31st Dec 2025 Mon - Fri 07:00 - 10:00 Hrs Viewing Minutes000

32 BARC HSM 22+ NCCS A 01st Apr 2025 to 31st Dec 2025 24 Hrs Gross AMA in Millions l Aaj Tak: 1343 Mn vs News18 India: 1289 Mn, India TV: 1077 Mn 33

Leadership during High-Impact News Events Planned or Breaking

Aaj Tak sustained clear leadership during major news events: l #1 across all 4 days of Operation Sindoor: Total viewership was 36.8 Mn AMA, ahead of all competitors. 34 l #1 during key official joint press briefings by the Ministry of Defence, Indian Armed Forces, and MEA during Operation Sindoor. 35,36 l #1 TV channel across all genres during Bihar Election Counting Hours: Aaj Tak: 5.2 Mn AMA (08:00-12:00 hrs). 37 l Maintained leadership during: Delhi Red Fort Blast Exclusive interviews (Vladimir Putin, Abbas Araghchi) Independence Day Republic Day 38,39,40, 41, 42 These performances reinforce Aaj Taks strength across breaking news, elections, and high-impact national events consistently leading viewership in both planned and unplanned news situations, and reaffirming that whether planned or breaking, Aaj Tak owns the story.

Aaj Tak HD: Clear Leader in HD News

Aaj Tak HD continued its dominance in the HD News segment: l #1 HD News Channel among affluent audiences 43 l #1 Hindi HD News Channel in HSM (15+ Pay HSM) 44 l #1 Hindi HD News Channel in HSM (15+ Pay HSM) 45 This establishes Aaj Tak HD as the dominant premium news destination.

Good News Today (GNT): Strong FTA Performance

Good News Today strengthened its position on Free-to-Air platforms: l Strong performance in overall consumption: GNT total viewership(13.7 Mn): higher than key Hindi News channels like Times Now Navbharat(13.2 Mn), Republic Bharat(13.1 Mn), News Nation(12.9 Mn) and India TV(12.5 Mn). 46 GNT continues to act as a high-growth and high-reach FTA engine.

India Today TV: Leadership in English News

India Today TV sustained leadership in the English News genre: l India Today TV sustained its leadership in the English News genre, delivering the highest time spent per viewer 47 l The flagship 9 PM show News Today retained its #1 position in the time band, reinforcing its strong appointment-viewing appeal 48 l It continued to lead the morning prime time slot, emerging as the preferred destination for news during early hours 49 These metrics establish India Today TV as a high-engagement, appointment-viewing channel, consistently attracting premium audiences and delivering sustained viewership across key time bands, particularly during morning and prime-time slots.

33 BARC HSM 22+ NCCS A 01st Apr 2025 to 31st Dec 2025 24 Hrs Gross AMA in Millions

34 BARC HSM 22+ NCCS A 07th May 2025 to 10th May 2025 24 Hrs 14 Hindi News Channels Gross AMA in Mn

35 BARC HSM 22+ NCCS A 07th May 2025 to 10th May 2025 24 Hrs 14 Hindi News Channels Gross AMA in Mn

36 BARC HSM 22+ NCCS A 07th May 2025 to 10th May 2025 24 Hrs 14 Hindi News Channels Gross AMA in Mn

37 BARC HSM 22+ NCCS A 14th Nov 2025 08:00 to 12:00 Hrs Gross AMA in Millions

38 Delhi Red Fort Blast: Source: BARC HSM 15+ 10th Nov 2025 19:00 to 24:00 Hrs Gross AMA in Millions 14 Hindi News Channels

39 Independence Day: Source: BARC HSM 15+ 15th Aug 2025 24 Hrs Gross AMA in Millions 14 Hindi News Channels

40 Republic Day: Source: BARC HSM 15+ 26th Jan 2026 24 Hrs Gross AMA in Millions 14 Hindi News Channels

41 Vladimir Putin Exclusive: Source: BARC HSM 15+ 04th Dec 2025 21:00 to 23:00 Hrs Gross AMA in Millions 14 Hindi News Channels

42 Syed Abbas Araghchi Exclusive: Source: BARC HSM 15+ 25th Feb 2026 22:30 to 23:00 Hrs Gross AMA in Millions 14 Hindi News Channels

43 Source: BARC India 15+ Pay Platform 01st Apr 2025 to 27th Feb 2026 24 Hrs Gross AMA in Millions 4 HD News Channels

44 Source: BARC HSM 15+ Pay Platform 01st Apr 2025 to 27th Feb 2026 24 Hrs Gross AMA in Millions 3 Hindi HD News Channels

45 Source: BARC HSM 15+ Pay Platform 01st Apr 2025 to 27th Feb 2026 24 Hrs Gross AMA in Millions 3 Hindi HD News Channels

46 BARC HSM 22+ NCCS A Free Platform 01st Apr 2025 to 31st Dec 2025 24 Hrs Cume Rch in Millions

47 Source: BARC Megacities 22+ NCCS A 01st Apr 2025 to 31st Dec 2025 24 Hrs ATS {Viewer} In Minutes

48 Source: BARC Megacities 22+ NCCS A 01st Apr 2025 to 31st Dec 2025 Mon - Fri 21:00 - 22:00 Hrs ATS {Viewer} In Minutes

49 Source: BARC Megacities 22+ NCCS A 01st Apr 2025 to 31st Dec 2025 Mon - Fri 07:00 - 10:00 Hrs Viewing Minutes000

DIGITAL

In FY 2025-26, Your Company further strengthened its position as one of Indias most diversified and influential media conglomerates, expanding its multi-brand and multi-platform presence across digital, television, social media, Connected TV (CTV), and emerging content formats. The Company continued to deepen audience engagement across platforms, supported by strong editorial trust, differentiated content, technology-led innovation, and a sharp focus on evolving consumption habits.

Group-Level Digital Dominance Unprecedented Growth in Social Media Engagement: The Groups properties achieved a massive 99+ billion views on social media alongside 2.3 billion user actions in FY26.

50 Sustained CTV Leadership: The Group reinforced its leadership in Connected TV (CTV) engagement, recording a monumental 10.5 billion watch minutes, keeping it nearly 27% ahead of its closest competitor.

51 Highest Audience Time Investment: Indian audiences spend the most time on the Groups video properties, averaging 24.5 minutes per viewer among the top news publishers.

52 Exponentially Growing Follower Base: The Groups collective social subscriber and follower base grew significantly to 452 million, adding 50 million new followers in FY26 alone.

53 Global Stature & Global Thought-Leadership:

Global Stature & Global Thought-Leadership: The Group commanded international attention through exclusive global interviews with world leaders-including Russian President Vladimir Putin (which drew 1.2 million concurrent live viewers and over 225 million views), Iranian Foreign Minister Abbas Araghchi, Brazilian President Luiz Inácio Lula da Silva, Finland President Alexander Stubb, among others. High-profile discussions with IMF First Deputy Managing Director Gita Gopinath and media personality Tucker Carlson further elevated the Groups footprint on the world stage. The coverage of these marquee interactions, particularly the exclusive interview with President Vladimir Putin, was amplified by leading international publications such as The New York Times, The Wall Street Journal, The Washington Post, Financial Times, The Guardian, Los Angeles Times, Daily Express, and Al Jazeera, further reinforcing India Today Groups stature and credibility on the global stage. TAK network delivered significant scale, deep regional engagement, and strong audience loyalty across platforms. With a portfolio of 11 news-based and 8 interest-led channels, it generated over 12 billion video views and built a YouTube subscriber base of 85.2 million. Aaj Tak Radio (Hindi) and India Today Podcasts (English): Emerged as leading podcast platforms in India with a strong portfolio of 17 shows, recording a 227% surge in annual views-from 38 million to 126 million.

Aaj Tak: Defining Leadership in Digital News Digital Audience Frontier: Aaj Tak continues to lead the digital (including social) news domain, securing an average of 150 million monthly visitors in FY26.

54 Unrivalled Social Reach: The brand recorded a dominant social media footprint with an average monthly unique reach of 133.4 million cross-platform users across Facebook, Instagram, and X.

55

50 Vi Comscore Social India Sum of Native Video Views (Lifetime Total) Facebook, Views (Total) Instagram, Video Views (Total) X, Channel Views (Total) YouTube Total Actions (FB, X, IG) FY26)

51 Comscore India VMX Multi-Platform Device Level - CTV Custom List of News/Information Publishers, TV9 Network, Network 18, ABP Network, Full List Available on Request CTV Total Minutes (Mn) FY26

52 Comscore India VMX Multi-Platform Custom list of News Publishers, TV9 Network, Asianet News Network, Network 18, full list available on request Avg. Monthly Minutes per Viewer FY26

53 Comscore Social India Followers & Subscribers YouTube, Facebook, Instagram, X Total Followers/Subscribers as on 31st Mar26, Growth - 31 Mar26 vs 31 Mar25

54 Comscore India MMX - Multiplatform Total Digital Population (Inc. Social) Custom list of Hindi News Entities, News18 Hindi, ABP Live Hindi - ABP News, NDTV.IN, full list available on request Avg. Monthly Total Unique Visitors FY26

55 Comscore India MMX - Multiplatform Social Reach Custom list of Hindi News Entities, News18 Hindi, ABP Live Hindi - ABP News, TV9HINDI.COM, full list available on request Avg. Monthly Social Reach FY26 Primary Choice on Desktop & Mobile: Aaj Tak led all Hindi TV news publishers in total time spent on desktop and mobile platforms, capturing an average monthly time spent of 424 million minutes.

56 India s #1 Hindi News Desktop Platform: The brand maintained its definitive leadership on desktop, emerging as Indias top Hindi news website with an average monthly Daily Active User (DAU) base of 2.2 lakh visitors.

57 HindiVideoEcosystemDominance: OnYouTube, Aaj Tak led the Hindi news space with a staggering 10.9 billion total video minutes consumed.

58 Explosive Connected TV Growth: Aaj Tak emerged as the clear leader in CTV engagement in FY26, delivering over 8 billion total watch minutes-more than double that of its closest competitor-and recording 57% higher views than the same competitor.

59 First Choice During Key Events: The brand consistently proved to be the preferred news source on Google News during monumental national and global events (such as the Bihar election results, the Budget, and the Israel-Iran war), validating its speed of coverage and editorial relevance.

60 Aaj Tak: Social Media Leadership Unmatched Engagement Share: Aaj Tak led social media engagement by achieving 1.6 billion interactions, commanding a dominant 45.22% market share among Hindi news social handles.

61 Most Followed Hindi News Brand Across the Digital Grid: YouTube: Reached nearly 75 million subscribers, maintaining a massive 24.5 million subscriber lead over its nearest competitor.

62 Instagram: Emerged as the #1 handle with 17.6 million followers and achieved over 50 billion views.

63 Facebook: Secured the #1 page rank with 38.4 million followers and 4+ billion views.

64 X (formerly Twitter): Remained the #1 handle with 24 million followers and 346 million video views.

65 WhatsApp: Captured the #1 position with 18.4 million channel followers.

66 Snapchat: Ranked as the #1 handle in India among Hindi news channels with 1.94 million followers.

67 Reddit: Achieved the #1 position for the highest Reddit Karma score among Hindi news handles in India.

68

56 Comscore India MMX - Multiplatform Desktop & Mobile Custom list of Hindi TV News Entities, NDTV.IN, News18 Hindi, ABP Live Hindi - ABP News, full list available on request Avg. Monthly Total Minutes FY26

57 Comscore India MMX - Desktop Only Custom list of Hindi News Entities, BHASKAR.COM, Navbharat Times, News18 Hindi, full list available on request Avg. Monthly Daily Visitors FY26

58 Comscore India VMX Multi-Platform YouTube Custom list of Hindi News Channels, IndiaTV Channel @ YouTube, News18 India @ YouTube, TIMES NOW Navbharat @ YouTube, full list available on request Total Minutes FY26

59 Comscore India VMX Multi-Platform YouTube Device Level - CTV CTV Videos & CTV Total Minutes (Mn) Custom list of Hindi News Channels @ YouTube, IndiaTV Channel @ YouTube, Zee News @ YouTube, News18 India @ YouTube, TIMES NOW Navbharat @ YouTube, TV9 Bharatvarsh @ YouTube, full list available on request Avg. Monthly Total Minutes Avg. Monthly CTV Videos FY26

60 Google Trend, 14 Nov25 - Bihar Election Result, 1st Feb26 - Budget, 1st March - Israel Iran War

61 Comscore Social India Actions (CP) - Facebook, X, IG Custom list of Hindi News Channels, News24 (IN), ABP News (IN), NDTV INDIA (IN), full list available on Request Power Rankings FY26

62 Comscore Social India YouTube Subscribers (Mn) As on 31st Mar26 Custom list of Hindi News YouTube Channels, India TV (IN), ABP News (IN), Zee News (IN), Full List Available on Request

63 Comscore Social India Instagram Followers - As on 31st Mar26 Custom list of Hindi News Instagram Handles, ABP News (IN) , News24 (IN), Zee News (IN), Full List Available on Request Views (Total) IG - FY26

64 Comscore Social India Facebook Followers - As on 31st Mar26 Custom list of Hindi News Facebook Pages, ABP News (IN) , India TV (IN), Zee News (IN), Full List Available on Request Native Video Views (Lifetime Total) FB - FY26

65 Comscore Social India X Followers - As on 31st Mar26 Custom list of Hindi News Facebook Pages, ABP News (IN) , NDTV India (IN), Zee News (IN), Full List Available on Request Video Views (Total) X - FY26

66 WhatsApp Channel Global As on 31st Mar26)

67 Snapchat India Among Hindi News Handles As on 31st Mar26

68 Reddit India Among Hindi News Handles Reddit Karma Mar26

Aaj Tak: Leadership in Live News Consumption

The brand continued to heavily dominate live news consumption on YouTube, emerging as the undisputed choice for real-time coverage during major electoral, global, national security, and sports milestones.

Leading in Elections Coverage Bihar Election Counting Day: #1 position with 1.25 million peak concurrent viewers.

69 Bihar Election Exit Poll: #1 position with 1.32 lakh peak concurrent viewers.

70 Bihar Polling Day: Recorded 80k peak concurrent viewers during the 1st polling day

71 and 1.98k concurrent viewers during the 2nd polling phase.

72 Bihar Election Date Announcement: Secured 63.3k peak concurrent viewers.

73 Nitish Kumar Oath Ceremony as CM: Drew 194.3k peak concurrent viewers.

74 BMC Election Counting Day: #1 position with 1.13 lakh peak concurrent viewers.

75 Groundbreaking International Coverage Russian President Putin Arriving in India: Attracted 194k peak concurrent viewers.

76 Political Turmoil in Nepal: Achieved 119k peak concurrent viewers.

77 US-Israel-Iran War/Conflict: Reached 159k peak concurrent viewers on multiple key days. Aaj Tak crossed the 1 lakh+ peak concurrent benchmark on 24 separate days from the start of the war (Feb 28, 2026) through March 31, 2026.

78,79 US B-2 Bomber Attacking Iran: Registered 108.1k peak concurrent viewers.

80 Death of Iran Supreme Leader Ali Khamenei: Attracted 184k peak concurrent viewers.

81 Sheikh Hasina Verdict: #1 position with 35.2k peak concurrent viewers.

National Security & Breaking Updates Operation Sindoor: Reached a monumental 2 million peak concurrent viewers.

82 Delhi Bomb Blast Near Red Fort: Captured 360.6k peak concurrent viewers.

83 Elite Sports Coverage T20 World Cup (India vs. Pakistan): Registered 136k peak concurrent viewers as the Indian Mens Cricket Team beat Pakistan.

84 Asia Cup Finale: Captured 190.4k peak concurrent viewers during the Indian Mens Cricket Teams victory.

85 Women s ODI World Cup: Registered 45k peak concurrent viewers during the Indian Womens Cricket Teams world title win. 86

PM Modi Live Broadcasts Address to the Nation: Captured 188k peak concurrent viewers.

87 Live Address in Parliament on Operation Sindoor: Reached 100k peak concurrent viewers.

88 Independence Day Speech: Drew 251.5k peak concurrent viewers.

89 Live Broadcast from Israel: Achieved 59k peak concurrent viewers.

90 Ram Mandir Flag Hoisting Ceremony: Garnered 104k peak concurrent viewers

91 Critical Accident & On-Ground Coverage Ahmedabad Plane Crash: Recorded 300k peak concurrent views.

92 Ajit Pawar Plane Crash: Registered 113.3k peak concurrent viewers.

93

69 All Feeds, 0835-1030 Hrs, 14 Nov25

70 All Feeds, Whole Day, 12 Nov25

71 All Feeds, Whole Day, 6 Nov25

72 All Feeds, Whole Day, 11 Nov14

73 All Feeds, 1600-1635, 6 Oct25

74 All Feeds, 1000-1200 Hrs, 20 Nov25

75 All Feeds, 1000-1055 Hrs, 16 Jan26

76 All Feeds, 1855-1935 Hrs, 4 Dec25

77 All Feeds, Whole Day, 29 Jul25

78 All Feeds, Whole Day, 1200-1600 Hrs, 28 Feb26

79 All Feeds, Whole Day, 28 Feb26

80 All Feeds, 0900-1600 Hrs, 22 Jun25

81 All Feeds, 0700-1200 Hrs, 1 Mar26

82 All Feeds, Whole Day, 8 May25

83 All Feeds, 10 Nov25

84 All Feeds, 2220-2300 Hrs, 15 Feb26

85 All Feeds, 29 Sep25

86 All Feeds, 0005-0030 Hrs, 3 Nov25

87 All Feeds, 1700-1720 Hrs, 21 Sep25

88 All Feeds, 1815-2000 Hrs, 29 Jul25

89 All Feeds, 0730-0930 Hrs, 28 Feb26

90 All Feeds, 2105-2200 Hrs, 26 Feb26

91 All Feeds, 0900-1300 Hrs, 25 Nov25

92 All Feeds, Whole Day, 12 Jun25

93 All Feeds, 0935-1120 Hrs, 28 Jan26 Tejas Crash in Dubai: Reached 38.3k peak concurrent viewers. 94

Special/Significant Milestones Demise of Legendary Actor Dharmendra: Touched 100.5k peak concurrent viewers. 95 Earthquake in Delhi/NCR: Drew 94k peak concurrent viewers. 96 Shubanshu Shukla in Space: Attracted 32.7k peak concurrent viewers. 97

India Today: Expanding Reach and

Influence Unrivalled CTV Engagement: India Today recorded the highest audience engagement among English TV news channels on Connected TV, with viewers spending a massive 502 million total watch minutes on the platform in FY26.

98 Dominant Social Engagement Share: The brand swept social media engagement among English TV news channels, capturing a leading 57.4% market share with 241 million total user actions.

99 Broad Digital Footprint: IndiaToday remains the leader in average monthly social media reach, netting a unique, collective reach of 54.7 million across Facebook, Instagram, and X.

100 Live News Concurrency Leadership: The channel proved its digital live-streaming dominance by drawing 64.3k peak concurrent viewers during its fast-paced coverage of the Delhi bomb blast near Red Fort. 101

Platform-Wise Digital Dominance: Instagram: Ranked #1 handle with 5.5 million followers among competitive benchmarks.

102 Facebook: Stays at #1 with a strong 13.5 million follower community.

103 WhatsApp: Formed the #1 channel among English TV news networks, counting 3.6 million followers.

104 Snapchat: Emerged as the #1 handle with 83k followers among English TV news handles.

105 Reddit: Retained the #1 community rank with 546k Reddit Karma among English TV news channels.

106 Regional & Genre-Based Channel Expansion The TAK ecosystem sustained its leadership as a digital-first network with 12Bn+ views and 85.2Mn YouTube subscribers. Strong event-led spikes drove scale, with Bihar (252M), Mumbai (383M), and T20 World Cup (356M) coverage delivering high engagement. Impact-led journalism continued to resonate, highlighted by Bharat Taks Operation Sindoor (156M+ views in a month). Scaled content franchises and verticals strengthened stickiness, with Crime Tak (2,000+ episodes) and Kisan Tak (100M+ views) driving sustained growth.

Experiential Leadership - Audio & Podcast Landscape: The India Today Podcast vertical further cemented its audio leadership. Flagship programs like Teen Taal, Storybox, 5 Minute News, Padhaku Nitin, and In Our Defence consistently topped category charts.

94 All Feed, 1600-1700 Hrs, 21 Nov25

95 All Feeds, 1400-1700 Hrs, 24 Nov25

96 All Feeds, 0900-0930 Hrs, 10 Jul25

97 All Feeds, 1200-1300 Hrs, 25 Jun25

98 Comscore India VMX Multi-Platform Device Level - CTV YouTube Custom list of English TV News Channels @ YouTube, NDTV Channel @ YouTube, CNN-News18 @ YouTube, WION @ YouTube, TIMES NOW Navbharat @ YouTube, TIMES NOW @ YouTube, full list available on request CTV Total Minutes (Mn) Sum of FY26

99 Comscore Social India Actions (CP) - Facebook, X, IG Custom list of English TV News Channels, News24 (IN), ABP News (IN), NDTV INDIA (IN), full list available on Request Power Rankings FY26 100 Comscore India MMX - Multiplatform Social Reach Custom list of English News Entities, ZeeNews English, TIMESNOWNEWS.COM,

NEWS24ONLINE.COM, full list available on request Avg. Monthly Social Reach FY26 101 All Feeds, 2030-2100 Hrs, 10 Nov25 102 Comscore Social India Instagram Followers - As on 31st Mar26 Custom list of English News Instagram Handles, The Hindu (IN) , The Times of India (IN), NDTV (IN), Full List Available on Request 103 Comscore Social India Facebook Followers - As on 31st Mar26 Custom list of English News Instagram Handles, The Hindu (IN) , The Times of India (IN), NDTV (IN), Full List Available on Request 104 WhatsApp Channel India Among English TV News Channels As on 31st Mar26 105 Snapchat India Among English TV News Handles As on 31st Mar26 106 Reddit India Among English TV News Handles Reddit Karma Mar26