ZEEL records 41% growth in domestic subscription revenue for Q4 FY20
The advertising revenues for the year declined by 7% YoY due to a weak macroeconomic environment and conversion of two FTA channels to pay, the company has said
ZEE Entertainment Enterprises Ltd has released its annual audited Financial Results for the 4th Quarter and Financial Year ended March 31, 2020.
The network has recorded 41% growth in domestic business, driven by implementation of NTO and growth in ZEE5's subscription.
Poor macroeconomic environment, conversion of two FTA channels into pay in Mar'19, and market share loss in certain markets drove the decline. Lockdown in March further impacted revenues.
The advertising revenues for the year declined by 7% YoY due to a weak macroeconomic environment and conversion of two FTA channels to pay.
The underlying operating cost grew by 16% primarily driven by higher movie amortisation costs and ZEES content investments. It also includes accelerated content amortisation cost of Rs 259.8 crore.
The administrative cost includes a one-time provision of Rs 343.3 crore for the balances related to advertising, subscription and other assets where recovery has become doubtful on account of COVID-19 led uncertainty.
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