For much of its 20-year history, Hum Network Ltd (HUMNL) has been best known as a conventional broadcaster, producing award-winning Urdu drama serials, running some of the country’s most recognisable entertainment and lifestyle channels, and thriving on advertising revenue. But in recent years, a quiet shift has been taking place in its income streams: digital revenue, particularly from YouTube, has gone from a marginal earner to a significant contributor to the group’s financial health.
By the end of the financial year ending June 30, 2024, digital revenue and subscription income – which is how the company describes its revenue from YouTube and other digital platforms – accounted for 18% of Hum Networks’ total revenue. That is a remarkable climb from the days when online earnings were little more than a footnote in the accounts.
The company’s official YouTube channel has amassed over 51 million subscribers and 46 billion views, making it the third-largest creator in Pakistan by subscriber count. The revenue line has followed that surge: subscription income has grown at a 10-year compound annual growth rate of 30%, reaching Rs2.2 billion as of the 12 months ending March 31, 2025, the latest period for which data is available.
Yet, the current fiscal year tells a more nuanced story. While digital revenues are still robust, YouTube’s share of total revenue dipped, not because the platform’s earnings fell, but because the revenue pie got much bigger in a different segment.
In 2024, Hum Networks completed the acquisition of Ten Sports, a live sports broadcaster with contracts for events such as the ICC Champions Trophy and Pakistan Super League. Sports broadcasting has little overlap with YouTube monetisation, so its inclusion naturally diluted the digital proportion of total turnover. [restrict level=1]
Even so, management and analysts see YouTube as central to HUMNL’s future. In an age of shifting viewing habits, where younger audiences spend more time streaming than watching scheduled broadcasts, the digital revenue stream offers scalability, global reach, and recurring income from reruns of timeless dramas.
From a single channel to a media empire
HUMNL’s present-day footprint would have been hard to imagine when Sultana Siddiqui and Duraid Qureshi founded the network in 2004. At the time, Pakistani private broadcasting was still in its growth phase, with only a handful of channels commanding mass audiences.
The launch of Hum TV in 2005 marked the start of the company’s ascent. It quickly carved out a distinctive identity with high-quality drama serials, often tackling social issues in a way that appealed to both domestic viewers and the Pakistani diaspora abroad. The formula worked: shows such as Humsafar and Zindagi Gulzar Hai became cultural phenomena, cementing Hum TV’s reputation as a hub for emotionally resonant storytelling.
The group expanded steadily:
- Hum Masala (2006) tapped into the booming interest in culinary programming.
- Hum Sitaray (2013) diversified entertainment offerings.
- Hum Films (2014) brought the company into cinema production and distribution.
- Hum News (2018) positioned it in the competitive news broadcasting space.
- Ten Sports (acquired 2023) gave HUMNL a sports broadcasting arm with international rights.
Throughout, the network maintained vertical integration — creating, producing, and broadcasting in-house, ensuring control over content and costs.
Over the past 15 years, net sales have grown from Rs2.95 billion in 2014 to Rs12.35 billion in 2024, a compound growth rate of 15%. Profit after tax rose at an even faster 18% CAGR over the same period.
The content playbook
If there is one thread that runs through HUMNL’s content strategy, it is a focus on premium Urdu-language programming with broad appeal. That means flagship dramas that have a reputation for being well-scripted, high-production-value serials that resonate across demographics. These not only drive prime-time ratings but also enjoy long-tail success on YouTube, where episodes continue to draw millions of views years after airing.
It includes lifestyle programming such as cooking shows on Hum Masala, morning shows, and fashion-related content that cater to a loyal audience segment.
Hum News has positioned itself as a moderate, issues-focused news channel, though it faces stiff competition from larger incumbents.
And while still a smaller part of the business, Hum Films has produced and distributed titles that complement the network’s brand identity.
The formula balances mass-market appeal with brand consistency, ensuring that content travels well internationally. HUMNL’s drama library has been syndicated to audiences in the Middle East, Europe, and North America, often via streaming platforms.
The global trend, and Pakistan’s digital catch-up
The global content industry has been in a state of flux for more than a decade, driven by the rise of streaming and on-demand viewing. In markets like the United States, traditional cable subscriptions have been declining for years, with younger audiences gravitating to platforms like Netflix, YouTube, and TikTok. Advertising dollars are following eyeballs: digital ad spend is growing while traditional TV ad revenues stagnate or shrink.
Pakistan is not immune to this shift, though the pace has been slower due to infrastructural constraints and the enduring popularity of terrestrial and satellite TV. However, the direction of travel is clear. Digital distribution is becoming increasingly important, not just for reaching younger domestic viewers, but for monetising the vast overseas diaspora that consumes Urdu-language content online.
For HUMNL, YouTube is the tip of the spear in this transformation. Unlike traditional broadcasting, digital platforms offer granular audience data, algorithmic content promotion, and the ability to monetise archives at minimal additional cost. A hit drama from 2016 can still generate revenue today through mid-roll ads, without the need for costly re-airing.
Analysts note that this “evergreen content” monetisation is particularly attractive in markets like Pakistan, where production costs are lower relative to global peers, yet audience engagement can rival or surpass that of larger economies.
The missing OTT piece, and a new arrival
Despite the global trend, Pakistan still lacks a strong local OTT platform to rival Netflix, Amazon Prime, or Disney+. Several attempts have been made, but most have struggled with content licensing costs, payment infrastructure, and scale. As a result, YouTube remains the dominant digital distribution channel for Pakistani broadcasters, including HUMNL.
That may soon change. Industry insiders say a new domestic OTT platform is preparing to launch, backed by a consortium of media and technology investors. If it succeeds, it could offer Pakistani content producers a more controlled, potentially higher-margin distribution outlet — though building an audience to rival YouTube’s scale will be a formidable challenge.
For HUMNL, an OTT platform could be both an opportunity and a risk. On one hand, it would give the company a venue to monetise premium content directly, possibly via subscriptions or pay-per-view. On the other, it would require competing with its own YouTube strategy, where the audience is already vast and the monetisation model well understood.
The promise of digital revenue is not without its vulnerabilities. HUMNL’s YouTube performance took a hit in mid-2025 when heightened Pakistan–India tensions coincided with a sharp drop in viewership from India, historically a major audience base for the network’s Urdu dramas. Subscriber growth slowed dramatically during that period, underlining the geopolitical exposure of cross-border digital traffic.
There’s also platform risk: YouTube’s algorithms and monetisation rules are beyond HUMNL’s control. Changes in ad policies, recommendation systems, or revenue splits could impact earnings. And while digital ad spend is growing, it can be volatile, subject to broader economic cycles.
Finally, HUMNL still relies heavily on advertising, which made up 61% of revenue in 2024, and the company is exposed to shifts in corporate and government ad budgets.
Looking ahead
Hum Networks’ trajectory over the past two decades has been one of consistent growth, strategic expansion, and brand-building. The addition of Ten Sports diversifies its portfolio, potentially boosting overall revenue and viewership, even if it dilutes YouTube’s percentage share in the short term.
Longer-term, the company’s fortunes will hinge on how well it navigates the ongoing shift from linear broadcasting to digital distribution. YouTube has already proven it can be more than just a side hustle for a Pakistani media company. It is becoming a core pillar of the business. The challenge will be to grow that pillar without undermining the other parts of the house.
For Hum, YouTube is not just the future. It is already here. The question is how big they can make it before the market changes again. [/restrict]
