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<ul><li>With lockdowns in most states, ZEE's TV viewership jumped again during the quarter, though lower than Q1 of last year.</li><li><keyword id="353090" type="PERSON" weightage="20" keywordseo="Zeel">ZEEL</keyword>'s OTT platform ZEE5 closes the quarter with an average watch time of 109 minutes per viewer per month.</li></ul>ZEEL has released its quarterly earnings report. As per the report, second COVID wave reversed the strong recovery the group witnessed in H2FY21. Domestic ad revenues for both Q1FY22 and Q1FY21 were impacted by lockdowns. However, the impact this year was much lower, reflected in 127.9% YoY growth. Compared to Q1FY20, domestic ad revenues were lower by 22.7%. <div type="image" title="zeel revenue" msid="85101065" hostid="261"></div> This increase in marketing cost on a YoY basis is on account of the release of Radhe and continued investments in ZEE5. Marketing costs in Q1FY21 was lower on account of much lower original content production. ZEEL’s broadcast business network share dropped due to lockdown disruption and soft performance in some markets. On the other hand, its TV viewership again jumped during the quarter, though lower than Q1 of last year. ZEEL’s OTT platform, ZEE5 gains its momentum again on the back of an expansive content catalogue. It closed June with 80.2mn global MAUs, 7.1mn global DAUs and 190 minutes average watch time per viewer per month. ZEE5’s Q1 Revenue and EBITDA (loss excludes costs incurred by the business on ZEEL network) stood at Rs.1,117mn and Rs. (2,033mn). The platform released 11 original shows and movies released during the quarter. <keyword id="3186290" type="PERSON" weightage="20" keywordseo="Zee-Music-Company">ZEE Music Company</keyword> added ~3mn subscribers on YouTube. With 75mn+ subscribers, it is the second most subscribed Indian music channel on YouTube. To keep the ball rolling, ZMC is ramping up its content library by adding movies across Hindi, Tamil, Telugu, Marathi and Punjabi languages starting H2FY22.

COVID-19’s second wave impacts ZEEL’s margins for Q1’FY22; domestic ad growth stands at -22.7% than 2020

<ul><li>Advertisement growth typically returns with a lag to economic growth. </li><li>Increased spend towards movie and OTT content to arrest declining market share.</li></ul>As per <keyword id="46252" type="PERSON" weightage="20" keywordseo="Motilal-Oswal">Motilal Oswal</keyword> Institutional Equities, <keyword id="10213964" type="UNKNOWN" weightage="20" keywordseo="Zee-Entertainment-and-Enterprises-Ltd">Zee Entertainment and Enterprises Ltd</keyword> revenue declined by 19% YoY (in-line) as ad revenue fell 26% YoY. “We have revised up ad revenues by 6%/6% for FY21/FY22E on better revenue visibility. But, we reduce revenue estimates from other sales divisions, maintaining our overall FY21/FY22E revenue. EBITDA remains unchanged, with increased content cost toward: a) movie/OTT, to arrest the decline in market share in key markets b) high inventory unwind, offset by lower other operating expenses. Thus, we factor in a 14%/22% EBITDA / adj. PAT CAGR. Maintain Neutral, with TP of INR 190,” read its press statement. Ad revenues remain weak Zee’s consolidated revenues declined 19% YoY to INR 17.2b (in-line). Advertisement revenues declined 26% YoY to INR9b on account of a drop in ad spends due to the impact of COVID-19. On the other hand, subscriptions grew by 11% YoY to INR8b on the inclusion of music revenue in the Subscription segment. Hence, on a like-to-like basis, domestic subscriptions grew 2.3% YoY, primarily driven by growth in ZEE5 subscription revenues. Zee’s total operating expenses were flat YoY at INR14b – as programming resumed in a staggered manner across regions – including a one-time provision toward subscription receivables of INR812m. EBITDA thus declined 55% YoY to INR3.1b. (20% miss), with margins of 18.2% (32.7% in 2QFY20). Zee took one-time provisions of INR812m toward receivables from Siti Networks. Adjusted for a one-off, EBITDA increased 43% YoY to INR3.9b, with a 22.9% EBITDA margin. Additionally, it incurred: a) Exceptional items of INR970m toward provisions of receivables from Siti Networks – as ZEE has provided corporate guarantees b) FV loss of INR207m – due to a change in the market price of redeemable preference shares. n Reported PAT declined 77% YoY to INR942m (est. PAT of INR2.5b), and adj. PAT (for exceptional items) declined 70% YoY to INR1.7b Highlights from management commentary Subscription growth in FY21 is expected to fall short v/s higher expectancy by the management earlier, while ad revenues should normalize by 3QFY21 and may grow from 4QFY21. n Margin trajectory may return to normal by FY22E and ZEE5 is expected to achieve breakeven by FY24E. ZEE’s investment in SugarBox would depend on the upcoming contract from the Railways, to be received by SugarBox. n Inventory and advance deposits dropped to INR60b in Sep’20 from INR64b in Mar’20. Valuation and view Advertisement growth typically returns with a lag to economic growth. Furthermore, the risk of margin pressure remains from over INR1.9b quarter loss in OTT investments, along with increase programming cost towards: a) high inventory unwind and b) increased spend toward movie and OTT content to arrest declining market share. However, since FY20, management has highlighted that it remains highly committed to bringing in a) increased governance and higher transparency toward investment in financial assets and working capital and b) high governance standard, including a robust and independent board. “We remain watchful of the evolving business situation and governance measures, including the admission of new board members over the next few months and increasing financial disclosures for investors. We maintain our FY21/FY22E revenue and EBITDA estimates. Thus, we factor in a 14%/22% EBITDA / adj. PAT CAGR. The stock trades at 12.5x FY22E EPS of INR15; we value ZEE at 13x FY22E EPS, thus maintaining our Target Price at INR190. Maintain Neutral,” read the statement.

ZEEL's ad revenues declined by 26% YoY to Rs 9 billion due to COVID-19

New Delhi, Jan 21 () Media and entertainment firm Zee Entertainment Enterprises on Tuesday reported a 38 per cent fall in its consolidated net profit for October-December quarter at Rs 348.60 crore, mainly on account of decline in advertising revenue.
 The company had posted a net profit of Rs 562.76 crore in the same period a year-ago, Zee Entertainment Enterprises Ltd (ZEEL) said in a filing to the BSE.
 Its total income stood at Rs 2,119.60 crore during December quarter as against Rs 2,252.75 crore in the corresponding quarter last year. 
 "Third quarter is normally a strong growth period for us, however, the tough macro-economic environment led to a decline in our ad revenues," ZEEL MD and CEO Punit Goenka said.
 Most of our advertisers are going through a slow growth period and that has led to a cut in advertising spends, he added.
 "I believe that the worst phase is behind us and we will start seeing an improvement from the next quarter," Goenka said.
 Despite the slowdown, the company continues to make investments in businesses where it sees potential for growth, he added.
 ZEEL's advertisement revenue during the third quarter declined to Rs 1,230.82 crore from Rs 1,426.57 crore a year ago, the company said.
 Shares of Zee Entertainment Enterprises on Tuesday closed 4.86 per cent higher at Rs 283.95 per scrip on the BSE. AKT RVK

Zee Entertainment Enterprises Q3 net profit dips 38 pc to Rs 348.60 cr

<ul><li>ZEEL's domestic advertising <keyword id="45663" type="ORGANIZATION" weightage="20" keywordseo="Revenue">revenue</keyword> for Q3FY21 grew by 7.5% YoY and 43.6% QoQ.</li><li>Its international ad revenue and <keyword id="2212194" type="PERSON" weightage="20" keywordseo="subscription-revenue">subscription revenue</keyword> stood at Rs 577 million and Rs 1091 million respectively.</li><li>Its domestic subscription revenues reported a growth of 18% including revenue from its music business which has been reclassified as subscription revenue in this fiscal.</li></ul><keyword id="1417408" type="COMPANY" weightage="20" keywordseo="Zee-Entertainment-Enterprises-Limited">Zee Entertainment Enterprises Limited</keyword> announced that its domestic advertising revenue for Q3FY21 grew by 7.5% YoY and 43.6% QoQ. This sharp recovery post H1 is a reflection of a resurgence of consumer demand and spending, the broadcaster said in its statement. Its international ad revenue and subscription revenue stood at Rs 577 million and Rs 1091 million respectively. Its domestic subscription revenues reported a growth of 18% including revenue from its music business which has been reclassified as subscription revenue in this fiscal. Comparable growth of 9.3% in the domestic business was driven by both television and <keyword id="6245082" type="COMPANY" weightage="20" keywordseo="ZEE5">ZEE5</keyword>. ZEEL's all India viewership share stood at 18.2% in Q3. The network also launched 2 new channels – Zee Zest and Zee Vajwa, taking the network channel count to 47. ZEE5 global's MAUs and DAUs stood at 65.9 million and 5.4 million respectively in Dec’20 and it released 7 movies on ‘Pay Per View’ model. The report also stated that while its share is back to pre-COVID levels, overall network share has seen a decline due to FTA channels losing share and decline in the overall Hindi movie genre.

ZEEL's domestic ad revenue for Q3FY21 grew by 7.5% YoY

New Delhi, Nov 25 () Media mogul Subhash Chandra has resigned as chairman of his flagship company Zee Entertainment Enterprises Ltd (ZEEL), with immediate effect.
 While accepting his resignation, the board said this is in line with the Sebi Listing Regulations that prohibit chairperson of the board from being related to the managing director or the chief executive officer of the company, ZEEL said in a regulatory filing on Monday.
 The firm also said its board has been reconstituted and three new independent directors R Gopalan, Surendra Singh and Aparajita Jain have been appointed in lieu of two independent and one nominee directors of Essel Group, promoter of Zee Entertainment.
 The reconstituted board consists of six independent directors and two members from the Essel Group.
 "The reconstitution of the board was to strengthen and induct independent members with varied experiences to build value and provide a strong signal to the existing and new institutional investors who have recently reposed their faith in the intrinsic value of the company, by investing Rs 4,770 crore," ZEEL said in a regulatory filing.
 In September, the group had sold 11 per cent stake in ZEEL to Invesco-Oppenheimer fund for over Rs 4,224 crore and then retired debt worth Rs 4,000 crore.
 Atlanta-based Invesco already held 7.74 per cent stake in ZEEL since 2002.
 Chandra will remain the company's non-executive director, which he founded in 1992, it added.
 "The board accepted his resignation and noted that this is in line with the requirements of Regulation 17(IB) of SEBI Listing Regulations, which inter alia mandates that the chairperson of the board shall not be related to the managing director or the chief executive officer of the company," the firm said.
 His resignation comes at a time when debt-ridden Essel Group is looking to further divest promoters' stake in the company to repay the debts.
 Promoter and promoter group shareholding in the company went down to 22.37 per cent in the quarter ended September 30, from 35.79 per cent in the quarter ended June 30.
 The Subhash Chandra-led cash-starved Essel Group on November 20 said it is planning to sell 16.5 per cent stake in its flagship ZEEL to financial creditors to meet its loan repayment obligations.
 In a related development, ZEEL's board also accepted the resignation of two independent directors Neharika Vohra and Sunil Sharma, with effect from November 24 as part of the process.
 It has also accepted the resignation of its company secretary M Lakshminarayanan and appointed Ashish Agarwal.
 "In view of changes in the promoter shareholding in the company and reconstitution of the board (being intimated separately), M Lakshminarayanan, has resigned as chief compliance officer and company secretary and the key managerial personnel of the company, with effect from the close of business on November 25, 2019," it said.
 Gopalan, 67, is a former bureaucrat and the country's former finance secretary. While Surendra Singh, 63, is a retired police officer and Aparajita Jain, 39, is a contemporary art professional.
 "The board also intends to onboard members who would bring additional skill sets including digital transformation," said ZEEL adding the reconstituted board "conducted their first meeting today, which was chaired by Gopalan".
 ZEEL has reported a revenue of Rs 6,857.86 crore for 2018-19. KRH RKL HRS

Subhash Chandra resigns as chairman of Zee Entertainment Enterprises

<ul><li>ZEEL has launched a new Music Channel called <keyword id="9936704" type="PERSON" weightage="20" keywordseo="zee-vajwa">Zee Vajwa</keyword>. </li><li>Zee Vajwa, Kshann Gaajwa is its tagline.</li></ul><keyword id="141413" type="DOMAIN" weightage="20" keywordseo="Zee-Entertainment-Enterprises">Zee Entertainment Enterprises</keyword> Limited (ZEEL) has announced its entry into the <keyword id="9936703" type="UNKNOWN" weightage="20" keywordseo="regional-music-space">regional music space</keyword> with the launch of its <keyword id="9936705" type="UNKNOWN" weightage="20" keywordseo="marathi-music-channel">Marathi music channel</keyword> – Zee Vajwa. The network has already captured 57% viewership share in Maharashtra with Zee Marathi, Zee Yuva and Zee Talkies. It will offer 3000+ playlists and a music++ experience for the viewer with many category firsts that amplify moments &amp; create various mahauls through the day. Speaking on the launch, Ashish Sehgal, Chief Growth Officer, ZEEL said, “As an organization, we have gained in both viewership &amp; revenue due to our diverse portfolio across markets. And, believe in constantly strengthening our product portfolio keeping the customer at the centre thereby adding value to all our stakeholders. Our dominant position across markets echoes our customer-centricity. Our growing viewership and revenue share in Maharashtra is a reflection of our successful journey so far. Our objective has always been to provide holistic surround to our consumer/customer &amp; in Maharashtra, with Zee Vajwa, we see an opportunity for us to not only strengthen our Music cluster but further gain viewership/revenue shares as well. We are excited to dial up the impact for advertisers this festive period.” Commenting on the much-awaited launch of its first regional music channel, <keyword id="3387826" type="COMPANY" weightage="20" keywordseo="Prathyusha-Agarwal">Prathyusha Agarwal</keyword>, Chief Consumer Officer, ZEEL said, “We win hearts across many Bharats by creating content brands that are deeply rooted in culture. All 4 regional channels that we launched last year broke into the top 3 in their respective categories within their launch month, with Zee Biskope rising to no. 1, and Zee Picchar &amp; Zee Punjabi in the top 2*. We are the undisputed leader in Maharashtra with our GEC and movie channels and the launch of Zee Vajwa will be a celebration of our intrinsic bond with every Maharashtrian family, through music. Music on TV is perceived to play a passive background role in the consumer’s life. But in a country like India, a song becomes a chartbuster when it becomes an integral part of a celebration – such as Ganpati Visarjan, sangeet ceremony, etc. Music becomes an active way to enjoy, express and celebrate, creating an amplified mahaul (ambience). This externalized and shared culture of music is at the core of Zee’s music channel positioning. With Zee Vajwa we promise to dial up every moment for our viewers with a music++ experience, so that they live life to the fullest.” Vishnu Shankar, Business Cluster Head, &amp;TV and Music cluster, ZEEL said, “We are extremely pleased to announce the launch of our first regional music channel, Zee Vajwa. Besides strengthening our regional portfolio, it is a great opportunity for us at ZEEL to offer content that connects so deeply with our consumers. Music has always been deeply ingrained in our Indian way of life and its traditions. To be able to offer a platform which allows our viewers to enjoy and connect over music that resonates with their specific culture and values, is deeply gratifying.” ZEE Vajwa promises an immersive visual experience never seen before in the regional music category with a design world inspired by the ‘volume dial’ that aptly brings alive our promise of ‘amplifying every moment’. Each element of the design – colors, characters, music symbols and our sonic identity have been created to ensure a deep-seeded connect with the youth while being culturally relevant. The channel will have a stellar programming line-up which will include 3000+ music playlists created with a strong library of songs. One of the key differentiators would be experiential music slots with several category firsts which will truly amplify the moment for the audiences. The Marathi viewer is extremely proud of their culture and the channel will celebrate it by giving the youth a platform to voice their opinions and be heard. A category first, Zee Vajwa will also have a non-fiction show in the comedy genre. The logo of Zee Vajwa was unveiled by Marathi film industry stalwarts -- <keyword id="1493322" type="PERSON" weightage="20" keywordseo="Swwapnil-Joshi">Swwapnil Joshi</keyword> &amp; Siddharth Jadhav during the prestigious Zee Chitra Gaurav Puraskar 2020. Zee Vajwa is set to launch this October.

Zee Entertainment Enterprises Limited launches Marathi Music Channel Zee Vajwa

<ul><li><keyword id="141413" type="General" weightage="20" keywordseo="zee-entertainment-enterprises" source="Orion">Zee Entertainment Enterprises</keyword> has released its quarterly earnings report.</li><li>As per the report, the giant's network share has increased to 17.7%.</li><li>It reported a 187% rise in consolidated net profit at Rs 270 crore for the quarter ending September 30, 2021.</li></ul>Zee Entertainment Enterprises Limited (<keyword id="353090" type="General" weightage="100" keywordseo="zeel" source="Orion">ZEEL</keyword>) has released its quarterly earnings report. As per the report, the entertainment giant's network share has increased to 17.7% and ZEE5 MAUs have gone up by 13 million to 93.2 million from Q1’22. It has reported a 187.3% growth in profit after tax (PAT) on a year-on-year basis at Rs 270.2 crore. <div type="twitter" handle="punitgoenka" handlename="Punit Goenka" image="http://pbs.twimg.com/profile_images/1296998849660293120/aW7KZfw-_normal.jpg" favoritecount="28" retweetcount="4" status="ZEEL’s Q2FY22 Results:A quarter of recovery &amp; revival, dom. ad rev grew YoY &amp; QoQ by 20.1% &amp; 18.9% resp. |14.9% YoY… https://t.co/71QLPvOOC8" createdat="1636634340000" id="1458776269806444545"></div> After two slow quarters, Domestic Ad revenues grew both YoY &amp; QoQ by 20.1% % &amp; 18.9% respectively, while revenue grew but Q2 continued to be partially impacted by Covid in the first half of the quarter. Internationally, the network collected Rs 487 million in advertising revenue and closed the quarter with Rs 878 million subscription revenue. <div type="image" title="zeel ad revenue" msid="87650283" hostid="261"></div> <keyword id="3415325" type="General" weightage="20" keywordseo="zee-studios" source="Orion">ZEE Studios</keyword> is planning to release a strong slate of movies across Hindi, Tamil, Telugu, Marathi and Punjabi languages for H2FY22 and is confident that opening of cinemas across the country to boost prospects of theatrical revenue in the second half of the fiscal. <keyword id="3186290" type="General" weightage="20" keywordseo="zee-music-company" source="Orion">ZEE Music Company</keyword> witnessed 60%+ YoY in YouTube video views and added ~1mn subscribers on YouTube in Q2. With 78mn+ subscribers, it is the second most subscribed Indian music channel on YouTube. ZEEL’s streaming platform, ZEE5’s Q2 Revenues stood at Rs.1,305mn, up 17% sequentially and EBITDA* at Rs 1,720 million. Its average watch time per viewer per month goes down from 190 minutes in Q1 to 186 minutes in Q2. It released 13 original shows and movies released during the quarter. <div type="Article" hostid="261" msid="85100569" title="COVID-19’s second wave impacts ZEEL’s margins for Q1’FY22; domestic ad growth stands at -22.7% than 2020" mstype="2" mssubtype="0"></div>

ZEEL’s ad revenue sees an uptick by 20.1% in Q2FY22; PAT rises 187.3% to Rs 270.2 crore

<ul><li>The deal, announced in September last year, has received the <keyword id="139820" type="General" weightage="80" keywordseo="competition-commission" source="Orion">Competition Commission</keyword> of <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s nod. </li><li>The deal remains subject to applicable regulatory and other approvals, <keyword id="353090" type="General" weightage="80" keywordseo="zeel" source="Orion">ZEEL</keyword> said.</li><li>The combined entity will own over 70 TV channels, 2 video streaming services (ZEE5 and <keyword id="6358540" type="General" weightage="100" keywordseo="sony" source="Orion">Sony</keyword> LIV) and two film studios (<keyword id="3415325" type="General" weightage="50" keywordseo="zee-studios" source="Orion">Zee Studios</keyword> and Sony Pictures Films India). </li></ul> The Competition Commission on Tuesday gave its conditional approval to the mega-merger deal between Sony and <keyword id="6372205" type="General" weightage="80" keywordseo="zee" source="Orion">Zee</keyword> that will create one of the largest media groups in the country. The deal, announced in September last year, has received the Competition Commission of India's nod after the regulator accepted "voluntary remedies" proposed by the parties, sources close to the development said. In a tweet, the watchdog said it has cleared the deal with certain modifications. CCI said it has approved the "amalgamation of <keyword id="1417408" type="General" weightage="50" keywordseo="zee-entertainment-enterprises-limited" source="Orion">Zee Entertainment Enterprises Limited</keyword> (ZEEL) and Bangla Entertainment Private Limited (BEPL) with Culver Max Entertainment Private Limited (<keyword id="55015" type="General" weightage="80" keywordseo="cme" source="Orion">CME</keyword>), with certain modifications". Details about the proposed modifications could not be immediately ascertained. CCI had issued show cause notices to the parties after it initially concluded that the deal could have an adverse impact on competition, the sources said. Subsequently, the parties proposed voluntary remedies, which have been accepted by the regulator, they added. ZEEL said CCI has granted the approval in phase-1 after evaluating the official legal and economic submissions made by the company. Most of the deals get cleared by CCI in phase-1 and only if there are serious concerns then the deal concerned is put up for public scrutiny under phase 2. "Considering the immense value which the proposed merger will generate for all its stakeholders, the company has offered the necessary remedies in accordance with the regulator's guidelines," ZEEL said, adding that further details are awaited. On September 7, the National Company Law Tribunal (NCLT) had advised the company to convene and conduct the meeting with its shareholders on October 14 to seek their approval for the proposed merger. The deal remains subject to applicable regulatory and other approvals, ZEEL said. In a separate statement, Sony Pictures Networks India said it is delighted to receive CCI approval for the merger. "We will now await remaining regulatory approvals to finally launch the new merged company. The merged company will create extraordinary value for Indian consumers and eventually lead the consumer transition from traditional pay TV into the digital future," it said. Culver Max Entertainment Private Limited was earlier known as Sony Pictures Networks India Pvt Ltd. Deals beyond certain thresholds require the approval of CCI, which keeps a tab on unfair business practices and also promotes fair competition in the marketplace. Both parties had entered into a definitive agreement for the deal in December last year and the proposed merger has already received approval from stock exchanges NSE and BSE. ZEEL, in September 2021, said it has entered into a non-binding term sheet with SPNI to bring together their linear networks, digital assets, production operations and programme libraries. The combined entity will own over 70 TV channels, 2 video streaming services (ZEE5 and Sony LIV) and two film studios (Zee Studios and Sony Pictures Films India), making it the largest entertainment network in India, ZEEL said in September last year. Under the deal, there will be amalgamation of ZEE and BEPL with CME. Besides, preferential allotment of certain shares will be made by CME to Sunbright International Holdings Limited, earlier known as Essel Holdings Limited, and Sunbright Mauritius Investments Limited, according to a release issued by CCI. CME is an indirect wholly-owned subsidiary of Sony Group Corporation (SGC). CME has several general entertainment channels, film, sports and kids' entertainment channels in India. SonyLIV is CME's digital entertainment video service which provides OTT services in India and international markets. CME reaches out to over 700 million viewers in India and is available in 167 countries. BEPL is an indirect wholly-owned subsidiary of SGC and a part of the SGC Group. It is broadly engaged in the acquisition of rights for motion pictures, events and other TV cont ent; and in generating advertising revenue from the telecast of TV content. ZEE is a media and entertainment company, with presence across the segments of broadcasting, digital content, movies, music and live entertainment, spread over 190 countries, as per the release. ZEE5 is the company's digital entertainment video service which provides OTT services in India and international markets. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-to-begin-beta-trial-of-5g-in-four-cities-on-dussehra-with-unlimited-data/articleshow/94645577.cms">Reliance Jio to begin beta trial of 5G in four cities on Dussehra with unlimited data</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/with-950-billionaires-asia-outnumbers-all-other-regions-forbes/articleshow/94644883.cms">With 950 billionaires, Asia outnumbers all other regions: Forbes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/15-ott-releases-to-watch-this-festive-season-starring-madhuri-dixit-hasan-minhaj-and-more/articleshow/94640843.cms">15 OTT releases to watch this festive season starring Madhuri Dixit, Hasan Minhaj and more</a>

Competition Commission gives conditional approval to Sony-Zee merger deal

<ul><li><keyword id="144995" type="COMPANY" weightage="20" keywordseo="Elara-Capital">Elara Capital</keyword>’s latest analysis predicts that GEC's performance will improve in the near term due to fresh content on channels. </li><li>It further shares a few trends that the industry can predict in the coming months as the Maharashtra Government permits shootings of TV shows, films and digital content in the <keyword id="9080220" type="UNKNOWN" weightage="20" keywordseo="non-containment-zones">non-containment zones</keyword>. </li></ul>As per an update by the Maharashtra Government on Sunday May 31, the shootings of films, TV shows and OTT shows can be resumed in the non-containment zones. In its latest analysis, Elara Capital predicts that the shoots for films will probably begin at a later time, except the ones which have a closed set ready or the ones which require some minimal shoot needs for its completion. It further said that this move is a big relief for TV broadcasters like ZEEL, SUN TV and TV18 as GEC genre had seen a sharp down tick in viewership share from 52% pre-COVID to 43% in the last weeks. Ad volumes too had declined by almost 35% since pre-COVID given no new shows were being showcased. The decline would have been sharper, not including mythological series by DD which attracted big eyeballs during initial phase of lockdown TV consumption had grown by 40% in the second week of April, led by 31% increase in time spent. However, the consumption growth still remains healthy at 26% until last week led by 19% growth in time spent; Elara Capital expect this to remain strong until the end of year. In terms of advertising performance, TV ad revenue had declined by 80% in the second week of May primarily due to IPL. Post June, Elara Capital expects sharp convergence in this decline as IPL base will move away. Once fresh content starts from July and August, we may see the decline factor converging towards 15-20% with some more respite in H2 and festive. TV will see the second best performance, after digital, in terms of advertising and expect the quantum of decline to converge sharply in the coming months. On the other hand, print may continue to report sharp decline in the coming months as circulation gets negatively impacted. Elara Capital estimates a higher growth in subs revenue (12-15% YoY) for FY21 given the increase in number of active TV households. News and movies have been the largest beneficiary during lockdown and it expects GEC to improve in the near term due to the fresh content on channels. The analysis further said that even after lockdown is lifted gradually across the nation, TV consumption will remain strong throughout the year due to the following reasons: <ul><li>People avoiding socialising. </li><li>More people opting to work from home.</li><li>More people staying indoors until the fear factor moves away.</li></ul>While the production process is similar for OTT and TV, the only difference is that TV is continuous and OTT is time bound and has limited episodes. Here are few things we can expect: <ul><li>TV-based content to start before web series as the latter involves more complex sets comparatively</li><li>Movie shoot to start with a bigger delay even after OTT as the larger movie stars/actors will take time to come back on sets.</li><li>A lot of movie and web series shoots would have got disrupted as monsoon will begin June onwards in Mumbai. </li><li>Many large non fiction shows like Comedy Nights with Kapil Sharma and KBC are also exploring an option to shoot from home or online in order to avoid use of large sets which involves multiple people. </li><li>Since it is not possible to test people on sets on a daily basis, broadcasters are also exploring an option of shooting with the entire cast and crew in a particular location for 15-20 days based on schedule, until then all will have to quarantine and work together.</li></ul>Broadcasters to cut costs on production budget given the tepid ad environment Pressure on Broadcasters &amp; OTT players to cut down on costs due to revenue impact from ad revenues etc. There will be an increase in costs due to sanitisation facilities for actors, cast &amp; crew, etc. Shooting in Bombay is a big challenge where majority shoots happen and if the production house plans to shift out of Bombay, it would further add to the costs. Cost of TV shows and web series will go up by almost 4-5% due to precautionary measures. Vanity Van sharing would change to separate for each actor which too would increase costs. Budgets for large non-fiction shows, which is in the range of Rs 60-70 crore, would be cut by almost 30%. Temporary gains by some broadcasters to get impacted after shooting begins GRPs of SUN TV have moved up from 1,100 towards 1,800 only on the back of large movie catalogue but once shoot resumes for Star and Zee Tamil for new shows, Elara Capital expects GRP of SUN TV to come down. ZEE5 has been the most aggressive in terms of content production even though the budgets are being cut at various levels, SUN TV remains to be a laggard when it comes to new web series/new non fiction shows.

Shoots to resume with immediate effect in Maharashtra, Elara Capital shares what the broadcast industry can expect in the coming months

<ul><li>On January 1, 2020, TRAI issued a few amendments to the New Tariff Order and Interconnection Regulations for the Broadcast industry. </li><li>After broadcasters spent over Rs 1000 crore to implement the NTO passed in Feb’ 19 and lost more than 13 to 15 million subscribers, the key stakeholders of the industry gathered in Mumbai today to challenge the latest TRAI amends. </li><li>Television experts think the New Tariff Order pan out to be counterproductive as it would affect the content quality, take away the choices consumers have now, hit revenues, employment and take away the fundamental right to monetise their content in the manner they choose. </li></ul>Key broadcasters united on January 10 in Mumbai, under the aegis of Indian Broadcasting Federation, to discuss the consequences of new Telecom Regulatory Authority of India’s (TRAI) order that restricts pay-TV charges and could impact employment, economic growth, profitability of broadcasters and the quality of content that the industry produces. Senior executives such as The Walt Disney’s Uday Shankar, ZEEL’s Punit Goenka, Discovery’s Megha Tata, Viacom18’s Sudhanshu Vats, TV Today’s Aroon Purie, and Star and Disney’s K. Madhavan came together to highlight how the regulator’s intervention at the fundamental level could prove detrimental for the entire economy. To implement the NTO passed in February 2019, the collective cost that broadcasters bore was more than Rs 1000 crore. They also lost more than 12 to 15 million subscribers in the process. While the consumers and the industry were still grappling with the shift, NTO 2.0 could worsen the situation, leading to smaller channels shutting down. <div type="Video" msid="73196599" hostid="261" title="NP Singh explains how capping the prices under TRAI's latest amendments will impact broadcasters and consumers in the long-run" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=73196599"></div>

 “As broadcasters, we expect a stable regulatory regime, which is necessary to enable long-term business planning and a strategic approach towards investments. This is absolutely critical to enable us to provide the best of content to our consumers, more so in these times of rapid technological change,” said NP Singh, MD &amp; CEO, Sony Pictures Networks India and President - IBF. Lack of Insights He thinks that a 40% reduction from Rs 19 to Rs 12 for creating bouquets, has no backing of consumer insights and serves no ‘logical rationale.’ This could directly affect the quality and cost of content that is offered to the consumers. In a competitive market like broadcast, channel pricing should be determined through open market forces “IBF believes the latest amendments will severely impair broadcasters’ ability to compete with other unregulated platforms and adversely affect the viability of the pay TV industry,” added Singh. TRAI’s decision will come in force from March 1. Hampers Freedom TV Today’s Purie said, “A regulator’s job is to facilitate, enable and encourage growth, not strangulate. They are killing the golden goose which lays the egg.” He further said that content is not an essential commodity. Therefore, the market forces should be free to run it according to their will. Drawing an analogy, he added, “These regulations are like tying our feet and asking us to swim.” Too Soon to Meddle; Proves NTO 1.0 Missed Depth Uday Shankar said that the implications are so disruptive, that it has forced all of the broadcasters to come together. He thus questioned the very need of implementing another NTO in such a short span of time. He also questioned if there was a need for another regulation, which implies that the previous tariff lacked depth and planning. The broadcasters also pointed out the dichotomy of NTO; while on one side it aims to bring the prices down for consumers, on the other, it restricts discounting completely. On top of that, 60% of the cut goes to distributors, as they charge Rs 106 as Network Capacity Fee (NCF). What is the Agenda? Viacom18’s Sudhanshu Vats, highlighting the success of previous NTO, said that 70% of the consumers bought a bouquet from DPOs, a crore and a half of the audience opted for NTO, month-on-month churn showed how consumers are making choices, 94% of the audience were aware about the shift, and transparency was achieved. Vats, therefore, questioned the fundamental need for another NTO. “Micro-managing in a diverse country like India is impossible. Why is there a desire to serve a standard thalli to our sector? In every other sector, there are wide options; there is a shirt from Rs 100 rupee to Rs 10,000 and above. India is a very heterogeneous country and that plays out even more in media with the complexities, genres, languages and events. Therefore, there will be different choices made by different people, so this entire thing of keeping it consistent is not in the interest of the industry,” said Vats. No Feedback from the Stakeholders Questioning the fact that TRAI had taken enough feedback from the industry stakeholders and also the need to further reduce the prices in our country, Megha Tata said, "India is already the cheapest market in the world. There are 100s of channels and there is no evidence of market failure or high channels price compared to other developed economies that warrants TRAI fixing a cap on prices, discounting and the number of bouquets one can form.” The new amendment also begs the question -- has TRAI taken considerable feedback from all the broadcasters before coming up with this amendment order? A progressive policy framework must be impartial to all stakeholders in the ecosystem. The new change will impact the equilibrium of stakeholders," concludes Tata.

Why India's top broadcasters believe the latest TRAI amendments will severely impair the industry

<ul><li>With the industry changing at a rapid pace, throwing a new set of challenges every day, experts are hoping that 2021 will be a game-changer that will help them redefine a lot of rules in advertising, with smarter marketing techniques. </li><li>We spoke to a few industry experts to identify these new opportunities that 2021 will bring forth for the broadcast industry and here is what they had to say. </li></ul>In 2020, the <keyword id="34937" type="ORGANIZATION" weightage="20" keywordseo="media-industry">media industry</keyword> changed a lot and because of that, 2021 will see a far-reaching impact on consumer behaviour and their viewing habits. While some changes will take us back to the ‘old normal’ like on-set shoots, going back to office, etc., some would accelerate digitalisation in the media industry and push us forward at least by 2-3 years. When the whole country was confined to their homes, consumers turned to OTT platforms and TV channels to entertain themselves. TV sets and mobile phones became the only sources of connection with the outside world. News channels also benefited as people stayed glued to their TV sets to catch on COVID-related updates and lockdown measures. As a result, consumption of content increased like never before. There is no denying that the future is digital. Technology will continue to play an important role in redefining the business operations and broadcasters will also focus on delivering aggregated content and device experiences this year. During the lockdown, the return of old mythological shows like Ramayan and Mahabharat from the 90s led to an exponential rise in viewership and advertisers count on TV. These shows soon became the main source of entertainment among Hindi GECs as it contributed about 43% to overall viewership of the genre, revealed BARC. The re-telecast of Ramayan alone garnered the highest-ever rating for a Hindi GEC show since 2015 at 1.20 trillion minutes and Doordarshan’s average daily viewers grew by 62 million. As the lockdown was lifted gradually and the economy started limping back to normalcy in July, television continued to be the screen of the household and an important medium for advertisers to reach their consumers. After seeing a lean few months, IPL brought the much-needed cheer for the Indian advertising industry and consumers in September. Dream11 IPL 2020 set a viewership record with an overall consumption increase of 23% than 2019. IPL’s Television viewership reached an outstanding 31.57 million, revealed Star India. It was the biggest IPL carnival the nation saw. According to BARC, return of original shows on TV along with the festive season and live sporting events boosted the ad volumes, taking the overall growth in ad volumes to 34% as compared to H1, 2020 and eventually minimising the reduction in volumes to a marginal -3% for the overall year than 2019. After facing unprecedented turbulence in the year 2020, broadcasters are now looking forward to seeing what 2021 has in store for them. Here is what they are expecting: <keyword id="3387826" type="PERSON" weightage="20" keywordseo="Prathyusha-Agarwal">Prathyusha Agarwal</keyword>, Chief Consumer Officer, ZEEL: <div type="image" title="Prathyusha Agarwal" msid="80617012" hostid="261"></div> I see "Thriving VideoVerse of The Soaring 20s" as the biggest trend in Entertainment that will shape 2021. As a whole generation hit by the pandemic will kick into hyper-active mode to rebuild lives, economy and a whole new world, consumers will demand entertainment not as an earned indulgence at the end of a hard day's work but an always on entitlement. It will be a need as essential as the daily bread, acting as food for their souls, sparking their minds and a reservoir of emotions that they can dip into as a respite from the hard reality that a post COVID world will be. Viewers will share their dining tables and living rooms with our content on television satisfying the craving for anticipation of a new story, the first bite to savour the emotion and form a firm bond engaging with our characters every day. They will then stretch it across multiple screens, platforms and interactions, micro-dosing, binging on it, dipping in, dipping out and gorging on it through time and space. As broadcasters, we need to gear up our backend to tailor-make our content such that it is adept to the multiple platform front-end user interfaces. There is a shift needed from thinking of content development as an uncertain creative process to building a nuanced understanding of the cultural core that makes viewers tick, what they want/ need, where do they need it and have the capability to evolve our craft to deliver that. Its time to unleash the full potential of the Viewer VideoVerse which is way larger than any product x platform, seamlessly serving "fit for delight" content across screens. Nina Elavia Jaipuria, Head - Hindi Mass Entertainment and Kids TV Network, Viacom18: <div type="image" title="Nina Jaipuria." msid="80617021" hostid="261"></div> In a connected world where linear and digital media are increasingly becoming intertwined, the year 2020 has been crucial in reaffirming the fact that unlike many western countries, Television and Digital will grow together in India. And this is one of the key trends that will continue and further take shape in the year 2021. The industry is expected to grow at 17% CAGR over next 4-5 years – while digital is expected to grow at a rapid pace, the traditional TV medium is also expected to witness a steady growth. This TV + Digital combined growth will result in a continued hike in demand for content – both long form, episodic and short form – as well as provide significant opportunities for content creators. Rural and semi-urban areas witnessed highest growth driven primarily by increased reach due to top broadcasters going back on Freedish this year. Furthermore, the availability of original content in regional languages across all genres contributed to this upswing. Concurrently on digital, given the increased demand and competitive landscape, OTT players are betting heavily on regional and differentiated original content to expand their library and drive-up user engagement. The growth in consumption of content across touchpoints is a trend that will enable unlocking the industry’s true potential – from both macro-economic as well as soft power capabilities. Avinash Pandey, CEO, ABP Network: <div type="image" title="avinash ABP news" msid="80617060" hostid="261"></div> In 2021, online content consumption will continue to trend. Broadcasters are now open to new ideas of reaching out to their audiences, be it through podcasts or online video content. Furthermore, empathetic, intimate, and contextual storytelling will be crucial for content creators this year as the pandemic has placed a special focus on personal experiences and unfeigned stories. Hyperlocal content and neighbourhood stories, therefore, will help broadcasters engage with their consumers on a deeper level. At ABP Network, we have left no stone unturned when it comes to expanding on digital. We have invested into video content, podcasts and other forms of digital media to create greater value in the long-term. Our regional channels, too, continue to dominate in their respective markets across diverse platforms. Harnessing new opportunities on both fronts, we have expanded our offerings to create new avenues of growth and monetisation for 2021 and beyond. Abhishek Dutta, South Asia Network Head for Cartoon Network and POGO: <div type="image" title="Abhishek Dutta, Abhishek Dutta, South Asia Network Head for Cartoon Network and POGO" msid="80617040" hostid="261"></div> Indian viewers now expect relatability and relevance in terms of characters and contexts so demand for homegrown IPs will continue to rule the roost in 2021. India’s sustained co-viewing patterns and the rise in greater access to entertainment will cement Kids and Family Content as the ‘anchor genre’ in the country. Markand Adhikari, Chairman and Managing Director, SAB Group: <div type="image" title="Markand-Adhikari SAB" msid="80617050" hostid="261"></div> We will not just see the addition of new users but also increasing the retainership of existing digital consumers. Online gaming consumption and demand for OTT originals is only going to increase as technological advances greatly aid them. The best part is that their model is subscription-driven and not dependent upon advertisers. Though television is very much here to stay, OTT is going to gain a lot of traction in the mid-term. Further, the dependency of M&amp;E companies on technology will likely increase to leverage cost-efficiency and create revenue enhancement opportunities. As monetisation and revenue in terms of ad-spend, continues to grapple, profit protection and cash management with greater technology integration will gain strategic significance for M&amp;E companies. The industry is likely to remain focused on sustenance at current levels along with a renewed emphasis on flexibility which would accelerate the move to a variable cost model and reduced fixed costs. While the long-term implications of COVID-19 are yet to emerge, the above-mentioned developments will likely come into focus in the M&amp;E industry as the post-COVID reality becomes clearer.

You Searched For "zeel ad revenue" and got 11 results

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