iWorld
Q2 results: ZEE5 demonstrates exponential growth with 41.3 mn MAU
MUMBAI: Media conglomerate Zee Entertainment Enterprises Limited (ZEEL) on Wednesday published its second quarter financial result. ZEE5, the digital venture of ZEEL has shown impressive growth within one year of its launch. According to the filing, the OTT platform has been able to gain 41.3 million Monthly Active Users as of September, with a 190 per cent increase since April 2018.
Since the launch, the platform has released 29 originals in several genres including comedy, drama, reality, thriller and docu-drama. During the quarter, two seasons of their flagship show Karenjit Kaur – An Untold Story, were also launched.
According to the Q2 result, users currently spend an average of 31 minutes per day on ZEE5. User engagement has also witnessed a considerable increase as video views grew 340 per cent since April. While ZEE5 has already entered into a partnership with two of the leading telecom operators, the company is discussing similar partnerships with other telecom operators, broadband service providers, device manufacturers and e-commerce companies.
“ZEE5 is the fastest growing entertainment platform in the country. In a little over six months, it has become the 2nd most popular OTT platform. With a monthly active user base of 41 million and an average daily time spend of 31 minutes,it is growing faster than our expectations,” ZEEL managing director and CEO Punit Goenka said.
“Our deep understanding of the Indian consumers will be as instrumental in helping us become the leader in the digital space as it was in helping us achieve the leadership in television. In a short time, ZEE5 has received an overwhelming response and I am confident that the platform will continue to scale-up going forward,” ZEEL chairman Subhash Chandra commented on an optimistic note.
In last quarter earnings call, Goenka said he expected ZEE5 to break even in the next five years. He highlighted that not just ZEE5 but entire the industry was in investment mode and there was no way any OTT player was in a position to break even in the first three years.
Total revenue of ZEEL for the quarter stood at Rs. 19,759 million with 24.9 per cent year on year growth. Advertising revenue for the quarter was Rs. 12,106 million, growth of 22.7% YoY. Domestic advertising revenue grew by 23.3% YoY to 11,526 million and international advertising revenue for the quarter was Rs. 580 million. Subscription revenue for the quarter was Rs. 6,082 million, a growth of 21.3% YoY. Domestic subscription revenue grew by 26.0% YoY to Rs. 5,093 million, while international subscription revenue was Rs. 989 million.
Although ZEEL’s net profit fell 38 percent year-on-year to Rs 3860 million in the quarter, its operational performance has surpassed analysts’ estimates. In the same period last year, the company had reported an exceptional gain of Rs 1346 million hanks to its sports broadcasting business.
eNews
How short, addictive story videos quietly colonised the Indian smartphone
A landmark Meta-Ormax study of 2,000 viewers reveals a format that is growing fast, paying slowly and consumed almost entirely in secret
CALIFORNIA, MUMBAI: India has a new entertainment habit, and it arrived without anyone really noticing. Micro dramas, those short, cliffhanger-driven episodic stories built for the smartphone screen, have quietly embedded themselves into the daily routines of millions of Indians, discovered not by design but by algorithmic accident, watched not in living rooms but in bedrooms, on commutes and in the five minutes before sleep.
That, in essence, is the finding of a sweeping new audience study released by Meta and media insights firm Ormax Media at Meta’s inaugural Marketing Summit: Micro-Drama Edition. Titled “Micro Dramas: The India Story” and based on 2,000 personal interviews and 50 depth interviews conducted between November 2025 and January 2026 across 14 states, it is the most comprehensive study of the category in India to date, and its findings are striking.
Sixty-five per cent of viewers discovered micro dramas within the last year. Of those, 89 per cent stumbled upon the format through social media feeds, primarily Instagram and Facebook, without ever searching for it. The algorithm did the heavy lifting. Discovery, as the report puts it bluntly, is algorithm-led, not intent-led.
The typical viewer journey begins with accidental exposure while scrolling, moves through a cliffhanger-driven incompletion hook that makes stopping feel unfinished, and is reinforced by algorithmic repetition until habitual consumption sets in. Only then, when a platform asks for an app download or a payment, does the viewer pause. Trust, not content quality, determines what happens next, and many simply return to the free feed rather than pay. It is a funnel with a wide mouth and a narrow neck.
The numbers on consumption tell their own story. Viewers spend a median of 3.5 hours per week watching micro dramas, spread across seven to eight sessions of roughly 30 minutes each, peaking sharply between 8pm and midnight. Daytime viewing is snackable and low-commitment, squeezed into morning commutes, work breaks and coffee pauses. Night-time is where the format truly lives: private, uninterrupted and, for many viewers, socially invisible. Ninety per cent watch alone, compared to just 43 per cent for long-form OTT content. Half the audience watches during their commute, well above the 37 per cent figure for streaming platforms, a direct reflection of the format’s low time investment advantage.
The audience itself breaks into three segments. Incidental viewers, comprising 39 per cent of the total, are passive consumers who stumble in and rarely seek content actively. Intent-building viewers, the largest group at 43 per cent, are beginning to form habits and seek out episodes but remain cautious. High-intent viewers, just 18 per cent, are the ones who download apps, tolerate ads and occasionally pay: skewing male, younger and urban.
What audiences want from the content is revealing. The top three genres are romance at 72 per cent, family drama at 64 per cent and comedy at 63 per cent, precisely the same top three as Hindi general entertainment television. The format rewards emotional familiarity over complexity. Romance in particular thrives because it demands low cognitive investment, needs no elaborate world-building and plays naturally into the private, pre-sleep viewing window where inhibitions lower and emotional intimacy feels safe.
The most-recalled shows, led by Kuku TV titles such as The Lady Boss Returns, The Billionaire Husband and Kiss My Luck, share a common narrative DNA: rich-poor conflict, hidden identities, power imbalances, melodrama and cliffhangers that make stopping feel physically uncomfortable. Predictability, the research warns, is fatal. Each episode must re-earn attention from scratch.
The terminology question is telling. Despite the industry’s embrace of the phrase “micro drama,” viewers have not adopted it. They call the content “short story videos,” “short dramas,” “reels with stories” or simply “serials.” One respondent from Chennai said bluntly that “micro sounds like a scientific word.” The category is at the stage that OTT occupied in 2019 and podcasts in the same year: widely consumed, poorly named and not yet crystallised in the public imagination.
Platform awareness remains alarmingly thin. Only three platforms, Kuku TV at 78 per cent, Story TV at 46 per cent and Quick TV at 28 per cent, have crossed the 20 per cent awareness threshold. The rest languish in single digits. This creates a trust deficit that directly throttles monetisation: viewers who cannot remember which app they used are hardly primed to enter their payment details.
Yet the appetite is clearly there. Sixty-five per cent of viewers watch only Indian content, drawn by the TV-serial familiarity of the storytelling, the comfort of Hindi as a shared language and the sight of actors they half-recognise from decades of television. South languages are rising fast: Tamil, Telugu and Kannada together account for 24 per cent of first-choice viewing. And AI-generated content, still a novelty, has landed better than expected: 47 per cent of viewers call it creative and unique, with only 6 per cent actively rejecting it.
Shweta Bajpai, director, media and entertainment (India) at Meta, called micro drama “a category that is rewriting the rules of Indian entertainment,” adding that the discovery engine being social distinguishes this wave from previous content formats. Shailesh Kapoor, founder and chief executive of Ormax Media, was characteristically measured: the format, he said, is showing “the early signs of becoming a distinct content category” and, given how closely it aligns with natural mobile behaviour, “has the potential to scale very quickly.”
The format’s fundamental mechanics are working. It enters lives quietly, through boredom and a scrolling thumb, and burrows in through incompletion and habit. The challenge now is monetisation: converting a category of highly engaged but deeply anonymous viewers into paying customers who trust the platform enough to hand over their UPI credentials. The story, as any micro-drama writer knows, is only as good as the next cliffhanger. India’s platforms had better have one ready.
