Zee Media Corporation (ZMCL), which runs television news channels Zee News and Zee Business among others, has reported consolidated revenue of Rs 114.45 crore for the quarter ended June 30, 2017 (Q1 FY18). This represents a growth of 9.7% from Rs 104.32 crore in the same quarter last year.
Note recently, Zee said it is merging its digital media and entertainment business undertakings of Zee Digital Convergence Ltd, including the Ditto TV and Ozee businesses, vesting it with the parent company ZEEL. As such, digital revenues of these channels will not be reported by the company.
The media conglomerate’s profit after tax (PAT) declined by 25% YoY at Rs 7.38 crore during the quarter, from Rs 9.85 crore in Q1FY17.
The company posted Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) of Rs 25.22 crore, registering a growth of 14.4% from Rs 22.04 crore in the same quarter last year.
Revenue streams: While advertising revenue grew by 16.7% with Rs 101.87 crore for the quarter, the subscription revenue declined by 29% at Rs 10.99 crore as compared to 15.48 crore in Q1 last year.
-Zee News reached 194.5 million viewers across the country during the quarter.
-Zee Business reached 20.9 million viewers as on June, 2017.
-WION, ZMCL’s global News channel which was launched in August 2016, has reached 5.1 million viewers.
-India 24×7 was re-launched as Zee Hindustan, the channel reached 126.7 million viewers.
Mergers and Acquisitions
-In October last year, ZMCL announced the demerger of its print media business into Diligent Media Corp. Ltd (DMCL), the publisher of the English newspaper DNA (Daily News & Analysis).
-Earlier this year, Zee Media Corp. also entered the television shopping business by acquiring a stake in two India Today Group companies—Today Merchandise Pvt. Ltd (TMPL) and Today Retail Network Pvt. Ltd (TRNL) in February 2016.
-In November 2016, Reliance Broadcast Network Limited (RBNL), the radio and broadcast business subsidiary owned by Anil Ambani’s Reliance Capital said that it is selling 49% stake of its radio business to Zee Media Corporation Ltd. According to a report, Zee Media Corporation is in discussions to acquire Business Broadcast News, an Anil Ambani-owned company that operates English business news channel BTVi.
In August last year, Rajendra Kumar Arora has stepped from Zee Media Corporation as its Executive Director and Chief Executive Officer. Before that in April, Bhaskar Das, Group CEO of News Cluster at Zee Media had resigned from his post. Das instead was appointed as the president and chief growth and innovation officer at Zee Unimedia Limited, Zee Entertainment’s media distribution arm.
In July, The marketing head of Zee Media Corp Ltd Pooja Gupta had put down her papers, she was promoted to the role in November 2015.