Times Internet has posted a 24% jump in its annual revenue in the financial year ending March, recording Rs 1,625 crore in revenue in FY20. In its annual report, the company said the revenue growth has been adjusted for seasonality of cricket events. In FY19, it had posted revenues of $196 million. The company has registered a surge across its revenue streams i.e. advertising revenue, subscribers, transaction revenue and gross merchandise value (GMV) in the last fiscal year. While advertising revenue grew 22% with faster growth in music and video, overall subscribers to Times Prime grew 62%. Times Internet’s annualized GMV in transacting businesses grew 68% with a 75% jump in net revenues, said the company in its annual report. Its subscription and transactional businesses include Times Prime, Gaana Plus, TOI+, ET Prime, and Gourmet Passport. Times Prime also crossed 2 million subscribers last year. “We broadened our media strategy beyond news, and we focused on...
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