ZEEL on track for launch of new regional channels: Punit Goenka
The company is working towards launching four regional channels in Kannada, Tamil, Bhojpuri and Punjabi, as per media reports
Zee Entertainment Enterprises Limited (ZEEL) is working towards launching four regional language channels in Kannada, Tamil, Bhojpuri and Punjabi, as per media reports.
ZEEL MD and CEO Punit Goenka has been quoted as saying in media reports, “We are on track for the launch of new regional channels in line with our annual plans.” He was speaking to analysts during the Q2 earnings call.
Asked about the increase in inventory during the quarter, Goenka was reported as saying that these inventories have accumulated as the company has not launched the channels yet. “And therefore, it got passed into the PL as the [sitting agreement]. So I had a plan to launch a Kannada movie channel, a Tamil movie channel, a Bhojpuri movie channel and a Punjabi channel. Four channels are still not launched from which are accumulated in a lot of libraries,” he was quoted as saying.
Queried about the impact on ad revenue, Goenka said ZEEL has seen a 2 per cent growth, while the TV industry has seen a de-growth of 4 per cent. He also said the festive season will bring some advertising growth for the industry.
