ZMCL posts revenue of Rs 172.5 crore in Q3FY23

Zee Media Corporation Limited (ZMCL) has reported a 29.5% decrease in operating revenue at Rs 171.20 crore in Q3FY23, compared to Rs 242.8 crore the previous year in the same quarter. The network's total revenue was Rs 172.5 crore, compared to Rs 243.8 crore in Q3FY22.

The network's advertising revenue was Rs 160.18 crore, a 30.9% decrease from Rs 231.71 crore in Q3FY22. Similarly, the company's subscription revenue fell 3.0% to Rs 9.4 crore in Q3 FY23, compared to Rs 9.6 crore in Q3 FY22.

Total network expenses increased 6.8% to Rs 165.87 crore in Q3 FY23, compared to Rs 155.31 crore in Q3 FY22. When compared to the same period last year, operating costs increased by 1.7% to Rs 35.64 crore. Employee benefits costs increased by 22.2% to Rs 67.20 crore. Meanwhile, the company's marketing, distribution, and business promotion expenses fell by 33.3% to Rs 17.97 crore in Q3FY22, from Rs 26.94 crore.

In the BSE filing, ZMCL said that Zee News became the number 1 Hindi News Channel on YouTube with 361+ million video views. Also network’s other regional channels and properties continued to perform strongly, engaging the respective target audience with relevant content. It's Digital portfolio with its 17 brands in 11 languages, had 3.5 billion pageviews in Q3FY23 and MAU count of 311 Mn in Q3FY23. 

The network also shared that ZMCL had stepped out of the BARC rating system with a resolve to oppose the inclusion of the landing page views in the total viewership numbers. “ZMCL believes that the impact of such landing pages/channels should not be considered since these channels / services are obtained on commercial terms. The network kept the advertisers’ faith by innovative product and brand placement,” read the official document. 

Zee Media has a bouquet of 14 TV news channels comprising 1 Global, 4 National and 9 Regional language channels, together with 4 digital-only channels and 17 digital brands.