Islamabad, Oct 29: Hum Network Anticipates Profitability in News Segment Amid Increased Government Media Spending. Since the government is expected to start spending again on media in the upcoming months, Hum Network (HUMNL) anticipates that its news component will turn a profit.
According to BMA Capital Management Ltd., the company revealed this during its analyst meeting to go over the financial results of FY24 and its future objectives. With the help of rising revenues, the company’s bottom line profitability increased by 54% year over year to Rs. 2.95 billion in FY24.
As the government is expected to resume its media investment in the upcoming months, the management expressed its expectation that HUMNL’s news division will turn a profit. The briefing made clear that the government’s reduction in media expenditures was the reason for the segment’s poor performance.
The management emphasized that Ten Sports has obtained the rights to broadcast important sporting events, such as the UEFA Champions League and Cricket’s Champions Trophy 2025. Additionally, the channel has signed a 2.5-year media rights agreement with the Pakistan Cricket Board and a seven-year agreement with Cricket Australia.
The business is still optimistic about its capacity to make money on social media. Its revenue from YouTube ads, which makes up the majority of its subscription income, has increased at a five-year CAGR of 44%. With about 44 million subscribers, the company’s primary YouTube channel recently generated 1 billion monthly views.
