Hum Network (HUMNL) expects its news division to return to profitability as government media spending is anticipated to resume in the coming months.
The company shared this outlook during an analyst meeting to discuss its FY24 financial results and future objectives, according to BMA Capital Management Ltd. In FY24, Hum Network’s overall profitability increased by 54% year-on-year, with net income rising to Rs. 2.95 billion, driven by higher revenues.
Management highlighted that the news segment’s previous underperformance was primarily due to a reduction in government media expenditures. With government spending expected to pick up again, the company anticipates the segment will turn a profit in the near term.
The briefing also noted that Ten Sports has secured broadcasting rights for major sporting events, including the UEFA Champions League and the 2025 Cricket Champions Trophy. The channel has signed a 2.5-year media rights agreement with the Pakistan Cricket Board and a seven-year deal with Cricket Australia.
Hum Network remains optimistic about monetizing its digital platforms. Revenue from YouTube advertising, which constitutes a significant portion of its subscription income, has grown at a five-year CAGR of 44%. The company’s primary YouTube channel, with around 44 million subscribers, recently achieved 1 billion monthly views, underscoring its strong digital presence.
