New Delhi, Zee Entertainment Enterprises Ltd (<keyword id="20115912" type="General" weightage="20" keywordseo="zeel" source="keywords">ZEEL</keyword>) is seeking rapprochement with <keyword id="19914172" type="General" weightage="20" keywordseo="sony" source="keywords">Sony</keyword> Group as it makes a last-ditch effort to resurrect a USD 10 billion merger, according to industry sources. After the Japanese multinational firm pulled the plug on its USD 10 billion merger deal in January, the Indian company reached out again to Sony to reconsider the termination and offered for talks this month, a source said. On the other hand, Sony is understood to be evaluating the proposal from Zee. Comments from Sony Picture Networks India could not be obtained as an e-mailed query remained unanswered. A Zee spokesperson said, "Since the matter is subjudice we have no comments to offer." Another source said ZEEL never stopped working for a possible reconciliation dialogue citing that it was ZEEL that moved to NCLT to make the merger happen. "The ball is in Sony's court. They need to respond if the deal has to be revived," the source said. The development comes amidst the two parties filing cases against each other after the deal collapsed. Sony had initiated arbitration proceedings before The Singapore Arbitration Center (SIAC) claiming USD 90 million (around Rs 748.5 cr) as a termination fee. On the other hand, ZEEL filed a petition before the Mumbai bench of the National Company Law Tribunal (NCLT), seeking a direction to Sony Group to implement the merger scheme. SIAC also denied Sony Group's plea seeking interim relief against ZEEL to restrain it from moving NCLT to enforce the failed merger of its subsidiary Culver Max with the Indian media house. ZEEL also initiated appropriate legal actions to contest the claims of USD 90 million filed by Sony Group before SIAC. More than two years after announcing their proposed merger, Sony on January 22 announced the termination of the deal while accusing ZEEL of not meeting closing conditions even after extending their closing period by a month. ZEEL has maintained that it was willing to meet most of the conditions. Sources said during the one-month extension of the negotiation period, ZEEL had proposed an extension of a further six months for closing the transaction, even offering to discuss any other alternate closing timeline that Sony believed would be reasonable and achievable. ZEEL had also offered that its MD and CEO Punit <keyword id="19897741" type="General" weightage="20" keywordseo="goenka" source="keywords">Goenka</keyword> would not lead the merged entity as per the condition. Earlier, the market watchdog SEBI had barred Essel Group chairman <keyword id="20115911" type="General" weightage="20" keywordseo="subhash-chandra" source="keywords">Subhash Chandra</keyword> and Goenka from holding the position of a director in any listed company. The market regulator took the action after they were allegedly found diverting funds from the company. However, this order was quashed by the Securities Appellate Tribunal (SAT). But the investigations against Goenka by SEBI (Securities and Exchange Board of India) are still pending. Last week, Sony's top management in its December quarter earnings said it will seek various options, including finding another opportunity to replace the plan and organic growth opportunities in India, which has great potential in the long term. "India on a long term basis has a great growth potential. It's a very appealing market. Therefore, we will try to seek various opportunities and if we can find another opportunity that would replace this type of plan," said <keyword id="20660368" type="General" weightage="20" keywordseo="hiroki-totoki" source="keywords">Hiroki Totoki</keyword>, president, COO &amp; CFO of Sony when asked about the company's strategy in India after the termination of the proposed merger. While, Goenka in the first earning call of the company last week, after the deal to merge with Sony collapsed, said ZEEL is focusing on a three-pronged approach -- frugality, optimisation and sharp focus on quality content. The company aspires for an 8 to 10 per cent CAGR revenue growth, with digital business growing at a much faster pace, he said. ZEEL, in the financial statement of the December quarter also informed it spent nearly Rs 427 crore on the merger process. Overall Rs 250.73 crore were spent on the merger in the nine months of FY24. It had spent Rs 176.20 crore in FY23 for the deal, announced in December 2021. If the merger were completed, the combined entity would have owned over 70 TV channels, two 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 the country.

Zee Entertainment reaches out to Sony to revive terminated merger

<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>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>Shares of Zee Entertainment have rallied 21% in the last one month and outperformed the benchmark index that gained 11%.</li><li>Analysts believe that the strong box office collection of movie “The Kashmir Files” and expectation of significant opportunities from the Zee-Sony merger has fuelled the stock.</li><li>Moreover, there are hopes that the company’s revenue will cross ₹10,000 crore in next two fiscal years.</li></ul>Things are finally falling in place for investors of Zee Entertainment Enterprises as shares of the company rallied sharply in the last one month and even outperformed the benchmark index. Shares of Zee Entertainment rallied 21% in the last one month outpacing the benchmark index Sensex that gained 11%. It seems like a rather fresh start for investors that literally made no money in the last five years of investment in this stock as shares of the company lost value by 45%. It was only after September 2021 that the stock picked up with reports of <a href="https://www.businessinsider.in/business/corporates/news/zee-entertainment-merges-with-sony-pictures/articleshow/86416420.cms#:~:text=Media%20company%20Zee%20Entertainment%20announced,to%2040%25%20since%20last%20week.">Sony-Zee merger.</a> The combined entity is likely to emerge as a strong player in both television (TV) and over-the-top (OTT) business by leveraging their ability to create content across genres and regional markets. The merger has made the new entity one of the largest entertainment groups in the country. The combined entity is expected to make its mark in both TV and OTT business and create content across genres and regional markets. “The merger is expected to strengthen ZEEL’s [Zee Entertainment Enterprises Limited] portfolio with Sony’s sport, kids, and English movie content. The combined entity will be in a superior position on maximising its revenue across platforms, including OTT, given its wider content choices, investments on digital, aggressive bidding for sports rights, and focus on leveraging Sony Group’s deep capability in gaming and presence in international markets,” said analysts at Sharekhan. Financial estimates for coming years after Zee-Sony merger <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 estimate </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 estimate </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY24 estimate </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7,729 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,087 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9,277 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10,070 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adjusted profit after tax </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,122 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,232 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,560 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,731 crore </td></tr></tbody><tbody></tbody><tbody></tbody></table>(Source: Sharekhan Research) Analysts expect the company’s revenue to cross 10,000 crore in next two fiscal years. Another reason that cheered investors was the huge success of the movie ‘The Kashmir Files’ produced by Zee Studios, a subsidiary of Zee Entertainment. The film, featuring Anupam Kher, Mithun Chakraborty and Pallavi Joshi, made more than ₹100 crore. Along with it, the hit Tamil movie ‘Valimai’ also added money to the kitty. Analysts at Sharekhan say that strong box office collections of ‘The Kashmir Files’ and ‘Valimai’ would drive revenue of other operating sales. They forecast Zee’s overall revenue to grow by 12.2% year-on-year in the fourth quarter of FY22. Recent share sale by its largest investor Invesco brought some turbulence to the company’s stock. Invesco recently offloaded up to 8% of its stake in the company through the block deal on April 7, 2022. Invesco stated that the purpose of the sale is to only align its fund exposures to Zee with other funds managed by the investment team. 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Zee Entertainment rallies sharply in one month on strong box office collection of ‘The Kashmir Files’ and on high hopes from Zee-Sony merger

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>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.

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Zee Entertainment reaches out to Sony to revive terminated merger

PTI

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Competition Commission gives conditional approval to Sony-Zee merger deal

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Zee Entertainment rallies sharply in one month on strong box office collection of ‘The Kashmir Files’ and on high hopes from Zee-Sony merger

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Subhash Chandra resigns as chairman of Zee Entertainment Enterprises

PTI

Broadcast industry: Trends to watch out for in 2021

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