Zeel Q2 PAT down by 58.3%; revenue up by 2.5%

A challenging macroeconomic environment continues to impact operating performance.

Mumbai: Zee Enterprise Entertainment on Friday reported that second quarter revenue grew by 2.5 per cent to Rs 20,284 million compared to the same quarter in the previous fiscal. Q2 FY23 Ebitda (earnings before interest, taxes, depreciation, and amortisation) was down 28 per cent to Rs 2,973 million. It was impacted by slower growth in revenue and elevated investment in content, marketing, and technology. Ebitda margin was 14.7 per cent compared to 20.8 per cent for the same quarter in the previous fiscal. Profit after tax (PAT) fell by 58.3 per cent to Rs 1,128 million. Profit Before Tax fell by 50.7 per cent to $1,769 million.

It said that a challenging macroeconomic environment continues to impact operating performance. Domestic ad revenues came in at Rs. 9,610 million, a decline of 7.7 per cent. Ad revenue growth was hampered by FTA withdrawal (Zee Anmol) and a difficult macroeconomic environment. Other sales and services revenue YoY is up 92 per cent aided by theatrical revenues and other syndication deals. Programming and technology costs increased due to higher theatrical releases, investments in Zee5 and higher programming hours in the linear business. Subscription revenue was up 4.2 per cent compared to the same quarter in the previous fiscal year.

Q2 FY23 subscription revenues were aided by catch-up revenue from the previous quarter in the linear business and underlying organic growth in Zeee5 and music subscription revenues. Other sales and services revenue was up by 92 per cent aided by theatrical revenues and other syndication deals. The increase in marketing costs on a YoY basis is on account of new content launches and higher theatrical releases. Internationally, in Q2 FY23 ad revenue was Rs 518 million and subscription revenue was Rs 1,060 million.

It stated that it would continue to invest in ZeeTV, Zee Marathi, Zee Tamil, and Movies in order to increase market share.

Further, it strengthened its market position in Bangla, Odiya, Telugu and in the Kannada market. Q2 FY23 all-India TV network share was 16 per cent. QoQ it was up by 30 bps.

Its OTT platform Zee5 reported Q2 revenues of Rs1,671 million, marking a 28 per cent growth over the same period in the previous fiscal. Zee5 global MAUs in Q2 FY23 were 112.4 million. This was an increase of 19 million over the same period in the previous fiscal year. The average watch time per month in Q2 FY23 was 198 minutes, an increase of 12 minutes over the same period in the previous fiscal. Over 66 shows and movies (including six originals) were released during the quarter.

For Zee Studio, four Hindi and six regional movies were released during the quarter. Zeel also said that Zee Music Company is the second-largest music label with 89 million subscribers on YouTube.

Latest Reads
Meera Vaidya and the art of getting on in Hollywood

Meera Vaidya is not your regular young woman from Mumbai. The daughter of a celebrated journalist father-turned TV and film producer and an educationist mother, Vaidya has not let her pedigree affect her in any way. In fact, she has rebelled against it on almost every occasion.

Television TV Channels People
APAC (ex-China) Pay-TV revenues to reach $35 bn by 2027: MPA report

Mumbai: Media Partners Asia (MPA) has released a report titled "Asia Pacific Pay-TV Distribution 2022," which predicts that, excluding China, Asia-Pacific (APAC) Pay-TV revenues will reach $35 billion by 2027. According to the report, total Asia Pacific Pay-TV industry revenues, including...

Television TV Channels People
Adani gets 32 per cent subscription for open offer of NDTV shares

Mumbai: Adani Group has received 32 per cent subscription for its open offer of New Delhi Television (NDTV) shares. The open offer closes on 5 December. This subscription is despite the fact that the discount for the open offer at Rs 294 was over 29 per cent of the share price. Vishvapradhan...

Television TV Channels News Broadcasting
Sony Sab to launch new show ‘Dil Diyan Gallaan’

Sony Sab is set to launch a new show titled Dil Diyan Gallaan. The show highlights the predicament of many families in India who are distanced from their loved ones due to migration, misunderstandings and unspoken words. Dil Diyan Gallaan will premiere on Sony Sab on 12 December at 7:30 p.m.

Television TV Channels GECs
58% prefer to watch the FIFA World Cup on TV: Axis My India CSI report 

A leading consumer data intelligence company Axis My India, released its latest findings of the India Consumer Sentiment Index (CSI), a monthly analysis of consumer perception on a wide range of issues. 

Television TV Channels Viewership
27th Sports signs Toyam Sports as title sponsor of Ind-Ban series

Toyam Sports Limited (TSL) has been signed as the title sponsor for the Indian cricket team's three-match ODI and two-match Test series against Bangladesh, which will begin on 4 December 2022 at the Sher-e-Bangla National Cricket Stadium in Mirpur, Dhaka.

Television TV Channels Sports
We are not 60 years old, we are 60 years young: Shemaroo’s Hiren Gada

Mumbai: As Shemaroo marks its 60th year in India, it has grown to offer a variety of media products, including over-the-top (OTT) services like ShemarooMe and general entertainment channels (GECs) like Shemaroo Umang, Shemaroo TV, and MarathiBana. What started as a book circulating library, now...

Television TV Channels Viewership
MGM Worldwide television chairman Mark Burnett exits post Amazon acquisition

MGM’s Worldwide Television Group chairman Mark Burnett is exiting after the company’s $8.5 billion acquisition by Amazon.

Television TV Channels People
News18 is at top spot in prime time slot

Mumbai: News18's Kishore Ajwani continues to top the news viewership charts. Sudhir Chaudhary's show remains at number three, while Rajat Sharma's show remains at number two. The competition for prime time TV news viewership remains fierce, particularly for the second and third spots. Chaudhary,...

Television TV Channels Viewership