ZEEL Q2 consolidated revenue stands at Rs 2028.4 crore
The company has posted advertising revenue of Rs 1012.8 crore for the quarter
Zee Entertainment Enterprises Limited (ZEEL) has reported 2.5% growth in revenue at Rs 2028.4 crore for the quarter ending 30th September against Rs 1978.8 crore in the same quarter of the previous fiscal.
Advertising revenue declined 7% to Rs 1012.8 crore compared to Rs 1089.3 crore. Domestic ad revenue fell 7.7% to Rs 961 crore from Rs 1040.6 crore due to FTA withdrawal (Zee Anmol) and a challenging macroeconomic environment.
Meanwhile, subscription revenue increased 4% to Rs 821.9 crore from Rs 788.5 crore aided by catchup revenue from the previous quarter in linear business and underlying organic growth in ZEE5 and Music. Other Sales and Services revenue jumped 92% to Rs 193.7 crore due to theatrical revenues and other syndication deals.
The company's advertising revenue from the international business increased by 6.36% to Rs 51.8 crore from Rs 48.7 crore. Subscription revenue grew 21% to Rs 106 crore from Rs 87.8 crore. Other Sales & Services revenue came in at Rs 19.5 crore, a 44.44% jump over Rs 13.5 crore.
Expenditure grew 10.5% to Rs 1731.1 crore from Rs 1566.6 crore. Operating profit fell 27.9% to Rs 297.3 crore from Rs 412.1 crore. Net profit dropped 58.3% to Rs 112.8 crore from Rs 270.2 crore.
Operating revenue increased 13% to Rs 1017.3 crore from Rs 903.7 crore due to higher theatrical releases, investment in ZEE5, and higher programming hours in linear business. Advertising & Promotional expenses rose 29% to Rs 316.9 crore from Rs 244.9 crore due to new content launches and higher theatrical releases.
Zee Studio released 4 Hindi and 6 Regional movies during the quarter. Zee Music company witnessed 65% YoY growth in video views and an addition of 11 million subscribers since Q2 FY22 on the back of new age catalogue.
ZEEL's network share increased by 30 bps to 16.4% on the back of Hindi and South Cluster. The company continues to invest in ZeeTV, Zee Marathi, Zee Tamil & Movies to further grow its market share. It is also strengthening its market position in Bangla, Odia, Telugu, and Kannada markets.
The company's video streaming platform ZEE5 registered a growth of 28% to end the quarter with revenue of Rs 167.1 crore compared to Rs 130.5 crore in Q2 FY22. Operating loss widened by 61% to Rs 276.9 crore from Rs 172 crore. ZEE5 launched 66+ shows and movies including six originals during the quarter.
ZEE5 achieved the highest ever daily active users (DAUs) of 11.4 million. The monthly active users (MAUs) stood at 112.4 million. The average watch time on the platform was 198 minutes.
ZEEL's content inventory increased QoQ to Rs 7890 crore from Rs 7460 crore due to movies acquired for linear and digital businesses.
