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Zee Entertainment’s ad revenues increases to 61% of total income

ZEEL generic site

Advertising continued to increase its share in the revenue mix of Zee Entertainment as the company reported advertising revenues of Rs 843.3 crore for the quarter ended September 30, 2015, which was up 35% year-on-year (y-o-y) compared to Rs 625.9 crore in the same period last year. Advertising revenues represented 61% of the total revenues compared to 56% in the same quarter last fiscal. On a sequential basis, ad revenues grew 8.13% from Rs 779.9 crore.

Subscription revenues stood at Rs 479.1 crore at the end of Q2 FY16 recording a growth of 12.9% over Q2 FY15. During the quarter, domestic subscription revenues stood at Rs 375.2 crore while international subscription revenues stood at Rs 103.9 crore. Subscription revenues formed 38 % of the total revenues.

zee entertainment results Q2 FY16

Other sales and services revenue, which include syndication sales, film distribution, commission on sales, play out & transmission services, facility usage income, stood at Rs 62.5 crore, a decline of 7.4%  from Rs 67.4 crore in the same quarter last year. On a quarter-on-quarter basis, other revenues declined 35.83% from Rs 97.4 crore.  The other sales and services segment represented 5% of total revenues in Q2 FY16 compared to 6% in Q2 FY15.

Profit after Tax (PAT) for the quarter was Rs 246.3 crore, recording a growth of 8.5% over Q2 FY15. Operating profit (EBITDA) for the quarter stood at Rs 354.6 crore. EBITDA Margin stood at 25.6%. Total revenues stood at 1,384.9 crore.

Investment write off in MirriAD

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The company also said that it approved write-off of an investment of GBP 3.25 Million (equivalent to Rs. 33.1 crore) made by Asia Today Limited, a wholly owned overseas subsidiary of  Zee Entertainment made in 2013 for acquiring minority stake in MirriAD in the UK. This write-off was on account of continuing losses and consequent capital reduction and restructuring in MirriAD.

Zee Entertainment invested in London-based ad firm MirriAD. The company analyses content and delivers campaigns together with audience engagement and supporting analytics.

Other developments

– In July, 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 was an all-cash deal at Rs 115 crore, which included Rs 15 crore payable in financial year 2017 and 2018, linked to certain performance milestones of the channel.

– 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 will be available on lifeismusic.in and ZEEL’s live TV streaming and VoD service Ditto TV. This is ZEEL’s first attempt at producing original digital content.

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

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– ZEEL also partnered with the US based Internet TV portal FilmOn to launch a customised channel called Zee Bollywood TV. The channel will be broadcast in Hindi with English subtitles and be available for free on the desktop, tablet and mobile.Through the partnership will broadcast Zee’s programmed content to Indian audiences in the US and UK as well. The HD channel will also broadcast premium content, along with Bollywood movies, talk shows and drama shows.

Download: Earnings and press release

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