GECs
ZEEL reports steady Q1 FY2018 results
MUMBAI: It’s been a hectic first quarter of FY 2018 for homegrown media power house — the Essel Group promoted Zee Entertainment Enterprises Ltd (Zeel). The company has gone ahead for some corporate restructuring and has also declared its Q1FY2018 financials which, if not impressive, at least deserve a pat on the back, at a time when industry is coping with the GST transformation that the government has imposed on the industry.
First, on to the financials. Q1 2018.
On a consolidated basis, Zeel has notched up total revenues of Rs 1540.3 crore (Rs 15.4 billion), an EBITDA of Rs 484.4 crore (31.4 per cent margin) and profit after tax (PAT) of Rs 251.6 crore (16.3 per cent margin).
Advertising revenues for Q1 FY2018 are at Rs 966.5 crore (Rs 9.67 billion), which after adjustment for the acquisition of Reliance Broadcast Network Ltd (RBNL) and the sale of its sports business to Sony Pictures Networks India, was at Rs 868.8 crore.
Its international advertising revenue was at Rs 57.8 crore for the quarter.
Subscription revenues for Q1 2018 were at a healthy Rs 479.1 crore. Domestic revenue from subscription grew a healthy 14.5 per cent to Rs 378.88 crore – showing that the network is starting to bear the fruits of the government-backed Indian television industry’s digitization drive. International subscription revenues were at Rs 100 crore (Rs 1 billion). Overall, its international revenues (excluding sports business) were at Rs 194.7 crore, including other sales and services of Rs 36.9 crore. The adverse impact of currency appreciation and region-specific issues have contributed to the decline in revenues, says a Zeel press release.
Qualifying Zeel’s performance managing director & CEO Punit Goenka said: “It was yet another satisfying quarter with a strong financial and operating performance. During the quarter, we recovered from the impact of demonetization and the growth in the first two months was strong. However, the momentum was disrupted in June in the run-up to GST implementation. The advertisers reduced ad spends on existing brands and launched fewer products as distribution chain was not fully prepared for seamless transition to the new regime. Despite the challenge, our domestic ad revenue grew by 7%. Notwithstanding the short-term impact, we believe that GST will aid the advertising spends in the long-run.”
Zeel completed the acquisition of the remainder 49 per cent equity stake in Indiaweb Portal which runs a clutch of online sites, apart from Fly By Wire International Pvt Ltd post 30 June 2017. Both have become wholly owned subsidiaries.
Goenka says the acquisition of India Webportal “which is the third ranked online content publisher in the country, gives us an opportunity to reach and understand digital consumers through its various offerings. The acquisition is part of our strategy to strengthen the digital presence. It operates a suite of websites focusing on different genres including news, sports and entertainment.”
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GECs
Samsung TV Plus launches Kings of Comedy channel
New free FAST channel brings iconic Hindi comedy shows to millions of Samsung Smart TV owners.
MUMBAI: Samsung TV Plus has just turned up the laughter volume and it’s completely free. The leading free ad-supported streaming television (FAST) service in India has launched Kings of Comedy, a premium comedy channel featuring some of the country’s most beloved primetime shows. Available exclusively on Samsung TV Plus, the channel delivers back-to-back hits including Comedy Nights with Kapil, Khatra Khatra Khatra, and Comedy Nights Bachao, with no login or subscription required.
The launch marks a milestone for free streaming in India, offering audiences a dedicated comedy destination directly from their Samsung TV home screen. It arrives as Samsung TV Plus India celebrates its 5th anniversary, during which the service has grown its monthly active users by 42 per cent and more than doubled its total viewing hours. The platform now offers over 180 free channels across 14 languages.
Samsung TV Plus India general manager and head of business development Kunal Mehta said, “Comedy is the heartbeat of Hindi entertainment, and Kings of Comedy brings together the shows Indians already love, completely free on their Samsung TV. Our focus remains the same take the content people know and make it effortless to access.”
Globally, Samsung TV Plus has surpassed 100 million monthly active users across more than 4,500 channels, solidifying its position as one of the world’s leading free streaming services.
Kings of Comedy is now available on all compatible Samsung Smart TVs. For viewers seeking non-stop laughter without any cost, this new channel delivers a royal treat proving that sometimes the best entertainment really does come with no strings (or subscriptions) attached.
