Financials
ZEEL records Rs 8168 Cr as revenue for FY23
Mumbai: Zee Entertainment Enterprises Ltd.’s revenue for the fiscal ended 3 March 2023 stands at Rs 8167.62 crore compared to last fiscal’s Rs 8305.86 crore.
The company has recorded ad revenue of Rs 4057.89 crore, a drop of 7.6 per cent compared to last year’s Rs 4396.15 crore.
Subscription revenue saw a 2.7 per cent growth at 3335.47 crore on 31 March 2023, compared to Rs 3246.6 crore last fiscal.
The company said that its other sales and services revenue YoY was down 25 per cent, and up 71 per cent QoQ aided by new launches and higher syndication revenue.
The total revenue for its OTT platform ZEE5 stood at Rs 741 crore, up by 36 per cent in FY23 compared to the previous fiscal.
The company said that the programming and technology costs were higher YoY due to higher content cost in movies, investment in ZEE5 and Sports.
Advertising & Promotional expenses surged by 23 per cent to Rs 1055.4 crore from Rs 858.5 crore as new content launches on Digital increased the marketing cost on a YoY and QoQ basis.
