Category: GECs

  • NCLT admits Zee Entertainment to insolvency

    Mumbai: On Wednesday, Zee Entertainment Enterprises Ltd. was given permission to begin insolvency proceedings by the National Company Law Tribunal’s Mumbai bench.

    Sanjay Kumar Jhalani was chosen by the court to serve as the interim resolution specialist.

    The order was issued in response to a petition filed by IndusInd Bank Ltd. after the company failed to meet its obligations under a Debt Service Reserve Account Agreement between the bank and Siti Networks Ltd., to which Zee was also a party.

    Siti Networks is a subsidiary of the Essel Group.

    According to the terms of the agreement, Zee guaranteed IndusInd Bank’s Rs 150 crore loan to Siti Networks, which was required to keep an amount equal to one quarter’s interest and one quarter’s principal in the account at all times for the purpose of servicing its debts. Zee had promised to keep such a sum under the terms of the agreement, but had failed to do so.

    ZEEL MD  Punit Goenka’s office release a statement saying, “ Mr. Punit Goenka has filed an appeal in the Hon’ble National Company Law Appellate Tribunal (NCLAT) today, seeking relief against the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT). Mr. Goenka is taking all the necessary steps as per law, to protect the interests of all stakeholders of Zee Entertainment Enterprises Ltd. (ZEE) and to achieve a timely completion of the proposed merger with Culver Max Entertainment Pvt. Ltd. Mr. Goenka firmly believes in the potential of the merger, to deliver immense value to all stakeholders. ZEE is a debt-free & financially strong company, and believes in value creation for its stakeholders.” –

    According to IndusInd, Siti has been a continuous defaulter since September 2019 and has failed to maintain the account. According to it, the default amounted to Rs 89 crore on that date. Zee, as a guarantor, should be held liable for such defaults, it argued to the tribunal.

    Zee Entertainment questioned the petition’s viability, claiming that the default occurred in October 2020, when the insolvency code was suspended. According to it, a default cannot occur unless the bank explicitly invokes the guarantee, which did not occur until 2020.

    Objections were also raised regarding the default amount, which states that the claim amount cannot exceed Rs 69 lakh as of 2019, which is significantly less than the minimum threshold of Rs 1 crore mandated by the insolvency code.

    The tribunal granted the bank’s petition despite Zee’s arguments. Concurrently, the court granted IndusInd’s insolvency petition against Siti Networks. Rohit Mehra has been appointed as the process’s interim resolution professional. Zee Entertainment is in the process of merging with Culver Max Entertainment Pvt., a wholly owned indirect subsidiary of Sony Group Corp.

     

  • Star, ZEE and Sony disconnect services

    Mumbai : This morning the three main broadcasters have disconnected their services from cable platforms.

    A big question for the advertisers. Are they getting the reach that they have paid for?

    The action of disconnection of channels by three of the four leading broadcasters, Star, Sony and Zee, has left the consumers in a lurch. Consumers are bearing the brunt of this showdown since they have not been given adequate information by the broadcasters.

    Also read : Broadcasters threaten to disconnect their services on large cable platforms

    This pull out is affecting more than 40 mn TV households on a weekend, and that too, while the India – Australia match is being played. The cable operators (MSOs under the aegis of AIDCF) stand united in this fight and more cable operators (MSOs) across the country are joining this showdown with the broadcaster to protect the interest of their consumers.

    This sudden action also questions the attitude of the broadcasters towards the various stakeholders including the MSOs, LCOs and lastly, but not the least, the consumers. Are the broadcasters not answerable to the advertisers who have trusted them to give them adequate reach for their advertisements? Are they not answerable to the consumers who have loyally watched their channels? Are they also not answerable for the position in which the MSOs and LCOs have reached?

  • Zee’s Q3Fy23 revenue was flat with 92 per cent drop in net profit at Rs 24.3 crore

    Mumbai :  Zee Entertainment Enterprises Ltd (Zeel ) posted a 92 per cent drop in fiscal third-quarter net profit at Rs 24.3 crore, from Rs 298.7 crore a year ago.

    Total income during the quarter under review was flat at Rs 2,127 crore as against Rs 2,130 crore in the corresponding quarter of last year.

    On other side, Zee5 saw a healthy momentum. Zee5’s YoY Q3 FY23 revenue growth was Rs 194.3 crore. Zee5’s global MAUs was 119.5 million, increased by 17.6 million YoY.

    The company’s operating profit suffered as a result of slower revenue growth and increased investments in content, marketing, and technology.

    EBITDA (earnings before interest, tax, depreciation, and amortisation) was Rs 338 crore in the third quarter, a 29.5 per cent decrease from the previous year. In the previous year, it was Rs 479 crore.

    EBITDA margins fell to 16 per cent in the December quarter, down from 23 per cent the previous year.

    Domestic advertising revenues were Rs 1,015 crore during the quarter, down 16 per cent year on year, primarily due to FTA withdrawal (Zee Anmol) and a slowdown in FMCG spending due to the challenging macroeconomic environment.

    Subscription revenue increased 11.2 per cent year on year, aided by underlying organic growth in video streaming platform ZEE5, Zee Music, and recognition of subscription revenue from Siti Network, an Essel Group-backed multi-system operator.

    Other sales and services revenue YoY up 148 per cent aided by higher syndication revenue. Theatrical performance continues to be soft.

    Programming and Technology cost increased YoY due to higher content cost in movies and linear, and continued investment in Zee5.

    New content launches and theatrical releases increased the marketing cost on a YoY basis. QoQ A&P spend moderates from high base of Q2 which had heightened spending due to big ticket movies.

    In terms of the domestic linear television network, Zee had a 16.2 per cent share, down from 16.4 per cent in Q2. The firm’s weekly reach remained at 28.2 million as it seeks to strengthen its market position in Bangla, Odia, Telugu, and Kannada.

  • Sony BBC Earth launches anthology ‘The Wild Affair’

    Mumbai: Sony BBC Earth has launched a special anthology titled ‘The Wild Affair’. The anthology is airing ‘The Mating Game’, ‘Nature’s Greatest Dancers’, and ‘The Perfect Planet’ captivating the viewers with heart-warming and dramatic animal love stories.

    In five different ecosystems on six continents, ‘The Mating Game’ investigates the various, interesting, and downright odd methods that various animals employ to locate a partner. It gives a complete inside look at what it takes to win in the animal mating game. Viewers will learn how some animals like dancing and perform deftly timed moves to entice possible partners in ‘Nature’s Greatest Dancers’. The scientific explanation for these animals’ meticulously coordinated movements, from the gorgeous birds of paradise strutting their business to the ballet-dancing lemurs, is revealed in this delightful and amusing series. ‘Planet Earth II’ takes viewers on a journey to the four corners of the world to learn about the extraordinary forces that create life in each of these famous locations and the amazing ways that creatures have evolved to survive in the most remote areas of the planet.

    Apart from the Valentine’s Day anthology – ‘The Wild Affair’, the channel is premiering ‘Ancient Invisible Cities’ and ‘Rick Stein’s Secret France’ in February. In Ancient Invisible Cities, historians and archaeologists explore some of the world’s oldest cities at great depths in search of secret chambers and artifacts. Whereas Rick Stein’s Secret France will take viewers on a specially curated culinary journey. To learn more about the renowned Byzantine Empire’s little-known history and cuisine and to experience the special food menu, Rick Stein embarks on a fascinating tour through Italy, Croatia, Albania, Greece and Turkey.

    The month of February will undoubtedly pique viewers’ interest in learning more about the endearing ways that animals express their affection as well as their desire for delectable French delicacies.

  • COLORS announces romantic-fantasy-drama ‘Tere Ishq Mein Ghayal’

    Mumbai: Colors has announced the romantic-fantasy-drama ‘Tere Ishq Mein Ghayal’. Sparking excitement amongst fans with the promising trio of Karan Kundrra, Gashmeer Mahajani and Reem Sameer Shaikh, the channel curated an innovative campaign to celebrate the season of love, with a twist. ‘Tere Ishq Mein Ghayal’ is a compelling story of a girl next door Eisha and werewolf brothers Armaan and Veer who test the dangerous limits of love and survival. This storyline inspired an intriguing three phase marketing campaign that began with building intrigue for the show with massive hoardings of large red hearts. The same hearts were clawed after the night of the full moon, shocking the onlookers. Well timed on the cusp of Valentine’s Day, the mystery of the clawed hearts took over the social media by storm, garnering an unprecedented reach of 10 Mn and over 300K conversations.

    The campaign kicked off with billboards of big hearts emerging in cities such as Mumbai, Delhi, Lucknow, Kanpur, Agra, Bhopal and Indore on 3 February. It seemed that these cities were spreading love and cheering passers-by. The second phase of the campaign unfolded after the full moon night on 5 February, the perfect occasion to introduce a shocker. On this night, these hearts on hoardings and the hearts placed at iconic selfie points in Mumbai, Lucknow, Kanpur, Bhopal, Agra, etc. donned claw marks. These hearts piqued the curiosity of onlookers, who came up with many interesting theories about their appearance while posting stories on social media platforms. The lead actors of the show Gashmeer Mahajani and Karan Kundrra along with celebrities and media influencers Amit Sadh, Ankur Tewari, Nayandeep Rakshit, Shravan Shah, Siddharth Kanan, Karishma Singh, Viral Bhayani and Manav Manglani among others posted pictures of the clawed hearts sharing their curiosity on social media platforms.

    Heightening the curiosity further, soon CCTV video evidence surfaced and it showed the footage of the perpetrator, who looked like the werewolf versions of actors Karan Kundrra and Gashmeer Mahajani. The speculation of werewolves on a prowl and of it being a marketing stunt were rife. Taking the internet by storm, these theories were further amplified through various news channels featuring the CCTV video and building the speculation around the perpetrator. This was coupled with radio integrations and digital conversations adding on to the anticipation around the campaign.

    In the final phase of the campaign, it was revealed that the clawed hearts were part of the channel’s upcoming show with the unveiling of a captivating poster by the lead actors of the show. This poster summed up the entire campaign and underlined the show’s theme. Right from screen-shattering entrances to the actors spilling the beans on the campaign, the last phase heightened the anticipation surrounding the show.

    Speaking about the campaign, Viacom18 head marketing & digital Sapangeet Rajwant said, “Colors has always curated ways to leverage the flavour of the season and bring innovation and disruption in the marketing sphere. We wanted to ride on the month of love and associate our campaign with it to echo the mystery of Tere Ishq Mein Ghayal. This campaign stirred interest amongst onlookers, and it led to audience engagement on a deeper level. The curiosity was sustained by ensuring visibility for the clawed hearts and quenched with the unveiling of the show’s poster. We are certain that this disruptive campaign has created the right amount of buzz for the show.”

  • Dangal TV’s 4 fiction shows goes seven days a week

    Mumbai: Enterr10 Television Network’s Flagship HGEC Dangal TV which holds a strong No.2 position in the HGEC space has extended its original fiction programming from six to seven days a week in core prime time band of 7 to 9pm.

    Dangal TV took this decision after most of its Prime time shows were consistently leading in their respective time bands and extending these shows to 7 days a week would further strengthen the overall channel performance.

    Enterr10 Pvt Ltd managing Director Manish Singhal shared his thoughts on this strategic move that he has made and said “Sundar are immensely loved by the audience; Bindiya Sarkar too is promising. Our intent is Palkon ki Chhaon Mein 2, Nath Zevar ya Zanzir and Mann to offer more fiction related originals to our audiences by going seven days a week.”

    The channel’s performance is creating a buzz among the masses and loyal viewers, this reflects in the Sunday growth numbers. Dangal’s massive growth in reach for Sunday original programming.

    The Channel has seen immense growth on Sunday Prime Time band with 61% increase in reach. This itself shows the love showered by the audience for the channel and its shows. The Original shows ‘Bindiya Sarkar, Palkon ki Chhaon Mein 2, Nath Zevar ya Zanzir and Mann Sundar’ are the shows which will be running seven days a week.

  • Hits Now launches on Indonesian platform Indihome

    Mumbai: Rewind Networks has announced the launch of Hits Now on IndiHome. This is Telkom Indonesia’s fixed broadband service delivering internet, telephone and video entertainment.

    Hits Now is set to debut on February 6. It will deliver around the clock access to p shows that are airing in the US today. With its  up  to date content, Hits Now will aim to cater to a diverse audience seeking top quality entertainment, with genres ranging from reality and talent shows, dramas, comedies, to game shows and entertainment news. The channel will be available for the viewers on Indihome TV and IndiHome TV OTT  handpicked for Asian audiences and will advance into other markets in the coming months.

    Rewind Networks CEO Avi Himatsinghani said, ‘It is with great pleasure that we introduce HITS NOW on IndiHome, providing our subscribers with access to the latest and most popular US television programme. Hits Now offers an opportunity for viewers to experience the most coveted shows that are currently being aired in the US. At Rewind Networks, we have established a reputation for delivering exceptional entertainment through our channels Hits and Hits Movies. With the addition of Hits Now, we are confident that we can provide an unparalleled lineup of highly rated and in-demand programmes that won’t be available elsewhere. We are certain that Hits Now will soon become the premier destination for family entertainment in Indonesia and will keep them engaged and entertained.”

  • Colors’ ‘Bigg Boss’ and Garnier Men create history with stronger than ever 12 years association

    Mumbai: India’s reality show Bigg Boss has come a long way in its 15 years journey in the television entertainment landscape. The show has been instrumental in providing an unprecedented dose of glamour by entertaining the audience with its engaging content and adding grand new elements year on year. Within six  weeks of its launch, the show attracted over 127 million viewers on Colors and 600 million views on Voot. Bigg Boss has also continued to remain a quintessential IP for brands, such as Garnier Men, that get seamlessly weaved in within the dynamic journey of every season teeming with celebrity-led action.

    Bigg Boss has become a huge platform for brands to collaborate over the last decade and a half that offers a great canvas for advertisers to connect with their target audience. The sponsorships aim to provide brands with an opportunity to engage and collaborate through various touch points. Continuing its 12 year long successful partnership with Bigg Boss, Garnier Men associated with the show to create some memorable brand integrations this season too. Garnier Men has always laid emphasis on the branded tasks which focused on physical strength. This season, the brand explores the wit and grit of the men of the house. Bigg Boss House is a catalyst for confident men with wit and grit and Garnier embraces that with contextual moments in the house and through active integrations that are bound to further augment the brand’s line of thought.

    Commenting on this association, L’Oréal India Garnier general manager Anshuman Wanchu told, “Garnier Men’s association with Bigg Boss has not just been enduring but also deep-rooted one. Bigg Boss as an IP continues to break barriers both on TV & on digital platforms, and we’re delighted to be associated with it for over 12 years. Garnier Men stands tall as an ever-evolving brand and our synergistic approach with Bigg Boss & Colors has enabled us in reaching the right audience in the right manner.”

    Viacom18 Colors head Pavithra K said, “Our 12 year association with L’Oréal speaks volumes of our successful partnership. TV works on familiarity and the presence of Loreal & Garnier over the seasons has given both brands a strong mutual association and affinity. Men of the BB house have been engaging and resonating with Garnier products and attributes throughout the years of our association. This year, we not only focus on the physical strength but also the confidence and wit of the men through effective storytelling.”

  • ZEE presents adclub’s ‘M.Ad Quiz’

    ZEE presents adclub’s ‘M.Ad Quiz’

    Mumbai: Zee announces the advertising club’s M.Ad Quiz, in association with Brand Equity will be held on 3 February 2023 at Jade Sky, Worli, Mumbai, for the participating teams.

    The participants in the M.Ad Quiz are from the world of media, advertising and marketing industry, even students at the B School.

    Derek O’Brien will don the role of the Quiz Master.

    At this contested event, the winners stand to be richer by some attractive gifts like Haier refrigerator, Titan watches, Unilever hampers, Garnier, Britannia, Mondelez, Dabur, Bombay Shaving Company and Nestle. There are some good gifts for the audience as well.

    M.Ad Quiz committee chairperson Bhaskar Das said, “There is a lot more to the ad club than organising the most pre eminent awards of the country. We also conduct events like D-Code and M.Ad Quiz which are high on interactive experience and high octane live fun. Participation in M.Ad Quiz merits skill, curiosity and the fun of contesting. Derek O’Brien, the best in the business of conducting quiz shows, is all set for this Friday,  3 February 2023 to quiz the best brains from the field of advertising, media, and marketing. Go for it, partake in teams, and also attend as an audience.”

  • Bzinga to bring its first ever hindi show on Zee TV

    Mumbai: Bzinga, a product engagement and discovery platform, is preparing to introduce its exciting gaming platform to Hindi audiences through a brand new Zee TV show, Bzinga. The show aims to bring families together, celebrate their dreams and passions, and offer them an opportunity to compete and win amazing prizes. The show will be aired on Zee TV, every Sunday at 5 p.m. and will feature an interactive combination of the big screen and a mobile application. A viewer can also win prizes by playing along from their mobile application while watching the TV show.

    Bzinga is all poised to expand its wings and bring the experience of celebrating life, relationships and humanity to its Hindi audiences.

    Bzinga CBO Samir Gupta added, “At Bzinga, we take pride in celebrating the human spirit of achievements. Our goal has always been to develop a platform that is not only exciting and entertaining but also gives our users a sense of accomplishment. The Hindi show is a manifestation of the positive response we have received so far, and we are only committed to building on this journey and celebrating lives across languages and markets.”

    Actor Kavin Dave and actress Sunita Rajwar have been roped in to anchor the first season. While both the actors have been successfully enthralling their audiences with their impeccable screen performances, Bzinga would be their first anchoring stint together.

    Dave shared, “My journey as an actor has been very fruitful, and I cannot thank my audience enough for their love and support. I hope that I do justice to this amazing opportunity in my new stint as an anchor. It will be really exciting to share the stage with an artist of Sunita ji’s caliber. The format of the show is extremely engaging and I am sure that the audiences would love it!”

    Rajwar added, “My stint at the National School of Drama made me love the stage and the live audience. You are at your vulnerable best under the spotlight. I have worked with Zee before, and am extremely excited for this opportunity with Bzinga. I have never anchored a full fledged show, but with Kavin by my side, this ride is sure to be an exhilarating one!”