Zee reports Q2 revenue, subscriptions rise


Details

Rebecca Hawkes

| 15 October 2015





Indian broadcaster Zee Entertainment Enterprises has reported 23.9% growth in revenues to INR13,849 million (US$213 million) in the second quarter of 2016.


Consolidated operating profit was INR3,546 million ($54.547 million), while advertising revenues for the quarter were INR8,433 million ($129.676 million), representing a growth of 35% on the corresponding quarter in 2015.

Subscription revenues stood at INR4,791 million ($73.676 million) for the quarter ended 30 September 2015, a rise of 13% over Q2 2015.

During the quarter, the pay-TV operator's domestic subscription revenues stood at INR3,752 million while international subscription revenues stood at INR1,039 million.

Profit after tax (PAT) in Q2 was INR2,463 million, with a PAT margin of 17.8%.

"ZEE has seen an impressive performance during the second quarter. The improvement in advertisement industry and improved performance of our network has helped us grow ahead of the market. We continue to see the positive results of our investments. We will endeavour to continue on this track going forward and pursue new opportunities that will yield long-term growth. Our effort is to entertain audience across the world," said Subhash Chandra, chairman, ZEE.

Punit Goenka, managing director and chief executive officer, ZEE, added: "We have grown as a network on the back of superior programming on our new and existing products. The improvement in the overall advertisement market has further aided our strong growth. The domestic subscription market has also seen steady growth."

Going forward, Goenka said ZEE believes the key for monetising revenues, in both advertising and subscriptions, is "excellent content".

Top rated shows for Hindi entertainment channel Zee TV in Q2 included Kumkum Bhagya, Jamai Raja and DID season five. New shows launched during the quarter were Yeh Vaada Raha, Ek Tha Raja Ek Thi Rani, and Tashn-E-Ishq. Titles planned for launch in Q3 2016 are Kala Teeka, I Can Do That and India's Best Dramebaaz.

The company also claimed success for its recently launched Hindi entertainment channel &tv, with its shows Bhabhiji Ghar Pe Hai and The Voice doing particularly well.

In related news, Amit Goenka, youngest son of chairman Subhash Chandra and younger brother of CEO Punit Goenka, has been appointed as CEO of ZEE's international broadcasting division. He is currently CEO of Pan India, which runs the online lottery business under the Playwin brand.