It has been popularly believed that Pakistani news channels dominate over entertainment channels but a current financial report has suggested that an entertainment group has gained huge profit for the first time, which shows that viewers are now switching towards entertainment. ProPakistani reports that Hum Group has made 1 billion pre-tax profit for the year 2014-15 through its popular soaps and tv shows.
Hum Network Limited (HUMNL), a group of lifestyle and entertainment channels and magazine profit after tax has increased to Rs. 747 million from Rs. 592 million with growth of 26 percent year-on-year. On the other hand, its annual revenue stands at Rs. 3.7 billion with impressive growth of 27.5 percent in the outgoing financial year of 2014-15,’ reports ProPakistani.
The group includes Hum TV, Masala TV and Hum Sitaray in the broadcast field while it is running famous cooking and fashion magazines naming Masala Tv Food Mag, Newsline Magazine and Style G.L.A.M.
In another news, Media Times Group, one of the very few media groups listed in Pakistan Stock Exchange, having Daily Times, Business Plus and Zaiqa subsidiaries, has shown a loss of Rs 216 million in the same financial year.
After completing its 11th year in the industry, the group is still exploring its way to make its new venture successful which it failed earlier through launching Style 360 and Hum 2. The group has introduced two more ventrue in recent times, named Hum Sitarey and Hum Films.