ZEEL domestic ad revenue grows by 23.3% in Q2 FY19
Advertising revenue for the quarter was Rs 1210 crore, a growth of 22.7 per cent YoY. International advertising revenue for the quarter was Rs 580 million
ZEEL (Zee Entertainment Enterprises Ltd ) reported consolidated revenue of Rs 1975 crore for the second quarter of fiscal 2019. EBITDA was Rs 675 crore with an EBITDA margin of 34.2 per cent. PAT for the quarter was Rs 386 crores.
Subhash Chandra, Chairman, ZEEL, commented, "Media and entertainment industry around the world is going through some seminal changes and India is no different. Digital has opened new possibilities for content creators and multiplied the entertainment choices consumers have at their disposal. As India's leading entertainment content company, ZEEL is strongly positioned to capitalise on this new growth opportunity. Our deep understanding of the Indian consumers will be as instrumental in helping us become the leader in the digital space as it was in helping us achieve the leadership in television. In a short time, ZEE5 has received an overwhelming response and I am confident that the platform will continue to scale-up going forward."
Punit Goenka, Managing Director & CEO, ZEEL, commented, "ZEE5 is the fastest growing entertainment platform in the country. In a little over six months, it has become the second most popular OTT platform. With a monthly active user base of 41 million and an average daily time spend of 31 minutes, it is growing faster than our expectations. Despite the strong initial performance, I believe it is just the beginning of a long digital journey for us. With a strong pipeline of original content and partnerships with key players in the digital eco-system, we are confident that ZEE5 will become the default entertainment platform for the digital audience. Our broadcast business continues to grow at an impressive pace as evident from the domestic advertising and subscription revenue growth numbers. We continue to consolidate our viewership share which is driving our market leading growth. We believe that our broadcast portfolio has the potential to further increase its market share and the launch of the new channel in Kerala will surely help it. The advertising and subscription revenue growth will be aided by the scaling-up of digital business and the growth outlook for both remains strong. This robust performance also gives us room to increase our investments in digital, if required."
Highlights of Q2 FY19
- Total revenue for the quarter was Rs 1975 crore, growth of 24.9 per cent YoY. The growth was driven by the strong performance of our domestic broadcast business and aided by other businesses.
- Advertising revenue for the quarter was Rs 1210 crore, a growth of 22.7 per cent YoY. Domestic advertising revenue grew by 23.3 per cent YoY to 1152 crore. International advertising revenue for the quarter was Rs 58 crore.
- Subscription revenue for the quarter was Rs 608 crore, growth of 21.3 per cent YoY. Domestic subscription revenue grew by 26.0 per cent YoY to Rs 509 crore. International subscription revenue was Rs 98 crore.
- EBITDA for the quarter grew by 37.6 per cent to Rs 675 crore and EBITDA margin stood at 34.2 per cent.
- ZEE5 became the number two digital entertainment platform with 41.3 million Monthly Active Users (MAU) in September 18, 190 per cent growth since April 18.
- ZEEL continued to be the number one television entertainment network with an all-India viewership share of 19.9 per cent.
- Zee Studios released two Hindi movies – ‘Dhadak’ and ‘Paltan’, during the quarter.
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