Zee Entertainment earlier this week announced the consolidated financial results for the quarter ending December 31, 2020. The company’s net profit zoomed to Rs 398 crores, up from Rs 93.4 crores in Q2 FY 21. The increased profit came on the back of revenues getting back to normalcy at Rs 2756.9 crores, up from Rs 1760.6 crores in Q2 FY 21.
The total expenses for the quarter stood at Rs 2164.9 crores, up from Rs 1496.2 crores with ZEEL’s operation cost increasing to Rs 1414.22 crores.
The advertisement revenue stood at Rs 1302 crores, up from Rs 902.8 crores in the trailing quarter while subscription revenue stood at Rs 841.9 crores, up from Rs 800.29 crores in the trailing quarter. The domestic advertising revenue for the quarter grew 43.6% Q-o-Q with a sharp recovery reflecting the rebound in consumer demand and spending.
ZEEL during the quarter launched Zee Zest (Lifestyle) and Zee Vajwa (Marathi) making 6 new channels in the last 14 months. Zee Zest was however a mere rebranding of ertswhile Living Foodz. The company’s TV viewership reverted to earlier level with movie genre share dropping due to lack of new movie releases.
The network share decline due to FTA channels losing share and decline in overall Hindi movie genre whereas ZEEL’s multi-lingual movie portfolio now garners a quarter of total viewership across all movie channels in India.