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Advertising continued to increase its share in the revenue mix of Zee Entertainment as the company reported advertising revenues of Rs 941.88 crore for the quarter ended December 31, 2015, up 26.8% year-on-year (YoY) compared to Rs 742.6 crore in the same period last year. Advertising revenues represented 59% of the total revenues compared to 54% in the same quarter last fiscal. On a sequential basis, ad revenues grew 11.68% from Rs 843.3 crore.

Subscription revenues stood at Rs 521.8 crore at the end of Q3 FY16 recording a growth of 17% over Q3 FY15. During the quarter, domestic subscription revenues stood at Rs 418.8 crore while international subscription revenues stood at Rs 103 crore. Subscription revenues formed 33% of the total revenues.

Other sales and services revenue, which include syndication sales, film distribution, commission on sales, play out & transmission services, facility usage income, stood at Rs 131.4 crore, a decline of 24.9% from Rs 175 crore in the same quarter last year. On a quarter-on-quarter basis, other revenues increased 110% from Rs 62.5 crore. The other sales and services segment represented 8% of total revenues in Q3 FY16 compared to 13% in Q3 FY15.

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Profit after Tax (PAT) for the quarter was Rs 274.4 crore, recording a decline of 10.47% over Q3 FY15. Operating profit (EBITDA) for the quarter stood at Rs 430 crore. EBITDA Margin stood at 27%. Total revenues stood at Rs 1595.08 crore.

Sarthak acquisition: In July, Zee approved in-principle acquisition of 100% equity stake in Sarthak Entertainment Private Limited, which owns and operates ‘SARTHAK’ an Odia language general entertainment channel. The company mentions that the acquisition is now complete, with Sarthak Entertainment becoming a wholly owned subsidiary from the 4th of December.

Other developments:

– In June, Zee Entertainment Enterprises Ltd’s (ZEEL) digital ecosystem Zee Digital Convergence (ZDC) and its content studio Essel Vision Productions Ltd said that they were working on a new online-only instrumental musical show called Life is Music. The show would be available on lifeismusic.in and ZEEL’s live TV streaming and VoD service Ditto TV.

– ZEEL also hired Piyush Sharma as the CEO of new initiatives for India and Asia-Pacific.  In his new role, Sharma would be responsible for new initiatives like showcasing programming and content across multiple media platform including web, mobile and on-demand video.

– ZEEL also partnered with the US based Internet TV portal FilmOn to launch a customised channel called Zee Bollywood TV.