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Zeel remains cautiously optimistic on the near-term ad revenue outlook: Punit Goenka
MUMBAI: Speaking at a conference call with analysts to announce his company’s third quarter results ZEEL MD, CEO Punit Goenka noted that even as the structural growth scenario appears positive in the mid- to long term, it remains cautiously optimistic on the near-term ad revenue outlook.
“The overall sentiment continued to be soft this quarter as well, which has resulted in muted advertising revenue growth across the sector. While the macroeconomic environment and inflationary headwinds are gradually easing, key brands and advertisers across categories restrained their spending. Given the fact that we have relatively high exposure to FMCG advertisers and Tier 2, Tier 3 audiences, our advertising revenue sensitivity to rural demand and consumption is more pronounced.
“We remain hopeful that the steps announced by the Honourable Finance Minister in the budget 2023 will spur broad-based demand and lead to a quicker recovery in the overall ad environment. On the subscription front, the long standstill on the new tariff order has been impeding growth and impacting our profitability. That said, NTO 3.0 being implemented from 1st February 2023, we look forward to driving subscription revenues growth post implementation in the most effective manner.
“At Zee, we continue to focus our energies on building a future-ready portfolio, which is well poised and diversified to capitalise on the opportunities as the overall market sentiments improve.”
He also ruled out rethinking the FTA strategy. “No rethink on the FTA strategy because since April 2022, when we went off free to air, we have actually seen the stabilisation of the paid subscriber base on both cable and satellite. So therefore, going back so soon, would, in our view, hamper the potential growth for the pay, which is going to come back after 3 years with the NTO 3 implementation. So nothing as of now.”
On the subscription front a question was asked on the steep price hike for some bouquets especially South and if this will result in strong subscription growth in the first year of NTO 3. Goenka noted that the company has not been able to take any price hike for the last three years, and it has launched the maximum number of channels within those three years. “That means we were not able to price them into our bouquet itself. That is the other reason other than viewership itself. That’s the only reason it looks so steep. We have factored that into our calculation. But of course, the resultant growth for the company overall, All India level will not be that high. It will still be moderate single digits, as I’ve been saying to you.”
TV Will Still Take The Lions Share of IPL’s Ad Pie: On the sports front Goenka does not see digital replacing television when it comes to the IPL though it will be free to stream on JioCinema. In the previous season only 20-25 per cent of the IPL’s ad revenue came from digital and this will not significantly change overnight. “I don’t think that it is that easily substitutable that you can just shift the viewership from television to digital overnight. If you look at even in the case of when the predecessors had IPL, if you recall the first 2 years, they also were giving it free. It’s only in the third year or third edition that they had it or they put it behind the paywall.
“Of course, it will pull advertising dollars towards that, but that does not mean it will replace television from any angle. Our own calculation states that even in the last season of IPL, almost 75 per cent plus advertising came on television and only 20 per cent, 25 per cent came on digital. So that will not significantly change overnight.”
He added that maybe the high-end customer who’s got the high-end television set that they watch the digital feed of the IPL on. The issue is that the other 200 million or 250 million people are not going to sit and watch a 5-hour match on the mobile screen, right? “So once you are home, you generally just go to the convenience of watching it on television. That is what I believe is the general human nature.”
In terms of ZEEL’s plan for sports he noted that its recent re-entry in the sports business with the inaugural edition of the IL T20 has augured well for the company and has drawn a positive initial response from the viewers and advertisers alike. “We aim to further build onto this momentum and elevate audience excitement, viewership and economic muscle for the sports business.”
He said that the ILT20 has seen significant uptake in the advertising, and it is within the budget that the company had planned. “Of course, any league of this sort takes a few years to get established and turn profitable. So we do expect in the third or fourth edition when we’ll see breakeven or profitability coming from this.”
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
