Stock Report

The Quint: New Content Model

Posted On : 2024-06-15 19:31:06( TIMEZONE : IST )

Quint Digital Limited (QDL), owner of The Quint, India's leading new-age digital news operation, is pivoting to a new, sharply focused content model. After nine years of a successful launch and creation of a highly credible national news brand, there was a compelling need to comprehensively re-architect/reconfigure the content, tech, design, and revenue catchment of the site, based on audience experiences and data insights gained over the initial nine years. Briefly, the following principal changes are being implemented:

1. The Quint will pivot 100% towards enterprise articles/features/video, written/produced by highcaliber journalists/experts. This original, high-quality content will be used to drive subscriptions and pay revenues, which are expected to build up into a new revenue source for The Quint, along with the existing operations in branded content and ad sales.

2. Conversely, The Quint shall pivot 100% away from a commoditized news/video offering.

3. The Quint will devote more resources to and focus extensively on its market-leading fact-checking platform, viz Webqoof

4. After the above reconfiguration, The Quint will be available only in English across multiple platforms; because of the outstanding success of the Youtube Channel of Hindi Quint, that service will be preserved. However, the Hindi website shall be discontinued with effect from September 30, 2024.

This restructuring exercise will result in redundancies across several operations; during the transition period, which commences from now until September 30, 2024, all affected employees will continue to receive their full salaries but can avail of any number of non-working days to plan for their next job or career move. Consequently, the Company is likely to post losses in Q1 and Q2 of FY 24-25 on account of these restructuring charges.

Shares of Quint Digital Media Ltd was last trading in BSE at Rs. 93.83 as compared to the previous close of Rs. 94.31. The total number of shares traded during the day was 31424 in over 105 trades.

The stock hit an intraday high of Rs. 96.50 and intraday low of 93.00. The net turnover during the day was Rs. 2958522.00.