Tag: Zee Entertainment Enterprises

  • Industry trailblazers celebrated: Winners announced at Digital Reinvent Awards 2023

    Industry trailblazers celebrated: Winners announced at Digital Reinvent Awards 2023

    Mumbai: The Digital Reinvent Awards 2023, a prestigious event that celebrates and honours outstanding achievement in the world of streaming entertainment in India concluded its 2023 edition on 1 December 2023 with a virtual event. The Awards along with a distinguished ceremony recognizing excellence in the Indian streaming entertainment industry broadcasted live on the Digital Reinvent Facebook Page.

    Netflix has once again demonstrated its unparalleled prowess in the entertainment industry, as it bagged 7 Golds and 6 Silvers across diverse categories. Noteworthy victories include the gold accolades for the compelling documentary ‘The Elephant Whisperers,’ showcasing Netflix’s ability to deliver captivating narratives in the Documentary or Non-Fiction Program or Series category. The streaming giant’s triumph in the Supporting Actress of the Year category further solidifies its standing, with Shefali Shah in ‘Darlings’ and Tillotama Shome in ‘Delhi Crime S2’ securing top honours. Netflix’s consistent excellence is highlighted in the Movie/Mini-Series category, where ‘Darlings’ and ‘Monica O My Darling’ clinch gold, reaffirming Netflix’s status as an industry leader. The total metal count stood at 13 with maximum Gold. On Top of it all, Netflix won the Platform of the Year award.

    Zee Entertainment Enterprises has made a significant impact in the awards arena, securing a total of 4 gold and 4 silver awards across various categories. Zee’s adept use of influencers in ‘TVF Pitchers Season 2 Promo | Pitching to Ashneer Grover on Zee5’ earns them a silver in the Use of Influencers Using Social Media category, highlighting the strategic utilization of social media platforms. The silver-winning entry ‘Zee Bangla Mother’s Day Campaign’ showcases Zee’s prowess in the micro video content category. Additionally, Zee Bangla’s success extends to the Digital Brand Campaign of the Year, with gold awards for both ‘IPL Combat Campaign’ and ‘Neem Phuler Modhu Launch Campaign,’ exemplifying Zee Entertainment Enterprise’s versatility and creativity in digital marketing and content creation.

    Following on its heels and acing digital marketing innovations has been Amazon Prime Video winning both a gold and a silver award for the Web Series of the Year category for ‘Dahaad’ and ‘Farzi’. Other individual winners on the list were Shemaroo Entertainment, Warner Bros. Discovery, Sony Liv, White Turtle Studios, Applause Entertainment and Promoshop.

    PIM Asia events director Andy Chua commented, “Netflix and Zee Entertainment have truly outshone the competition at the Digital Reinvent Awards 2023, setting new benchmarks for excellence in the Indian streaming entertainment industry. This year’s total medal count of 13, with a remarkable dominance in Gold, solidifies Netflix’s status as an industry leader, culminating in the prestigious Platform of the Year award. Zee Entertainment Enterprises, equally deserving of accolades, showcased strategic brilliance across categories, securing 4 Golds and 4 Silvers. As we celebrate these achievements, it’s evident that the future of streaming entertainment is in the hands of trailblazers like Netflix and Zee, shaping the industry’s landscape with their creativity and dedication.”

     

  • Sebi contemplates Supreme Court Appeal After SAT Rules in Favor of Punit Goenka

    Sebi contemplates Supreme Court Appeal After SAT Rules in Favor of Punit Goenka

    Mumbai: After the Securities and Appellate Tribunal (SAT) overturned the Sebi order that imposed a one-year ban on Punit Goenka, the CEO of Zee Entertainment Enterprises (ZEEL), prohibiting him from holding managerial and directorial positions in listed companies, reports are suggesting that the market regulator may contemplate appealing to the Supreme Court. Additionally, there are indications that the Zee board might soon convene to discuss Goenka’s status in light of the favourable SAT ruling.

    Previously, the tribunal had barred Subhash Chandra, the Chairman of the Essel Group, and Goenka from assuming significant or directorial roles for a year, alleging that they had redirected funds from the listed entity for personal benefit. Following this, Goenka appealed the Sebi order to SAT, which has now quashed it.

    With SAT’s decision to invalidate Sebi’s directive, industry observers believe that it could expedite the Zee-Sony merger, as the company is no longer burdened by the legal uncertainties that were previously a source of concern.

  • BCCI implements e-auction to determine future value of bilateral cricket engagements

    BCCI implements e-auction to determine future value of bilateral cricket engagements

    Mumbai: The BCCI is all set to  conduct an e-auction today for Team India’s home matches during the 2023-28 cycle.

    The BCCI has decided to sell digital and TV rights separately. The collective base price for TV and digital has been pegged at Rs 45 crore per match. According to media reports, the BCCI is expecting a minimum of Rs 60 crore per match from the media rights auction.

    The reserve price for digital is higher at Rs 25 crore per match, while it is Rs 20 crore per match for TV. In both IPL and ICC media rights auctions, digital valuation went marginally over TV.

    The three bidders, Disney Star, Viacom18, and Sony Pictures Networks India (SPNI), are hoping to once again relax their financial restraints.

    Disney Star was once more in the thick of things when the ICC (International Cricket Council) later auctioned off its rights for four years, purchasing the rights for $3.03 billion.

    After that, it made the decision to keep solely the digital rights and sublicensed the TV rights for almost $1.4 billion to Zee Entertainment Enterprises.

  • BCCI media rights auction set to commence on 31 August

    BCCI media rights auction set to commence on 31 August

    Mumbai: Board of Control for Cricket in India (BCCI) is all set to have an auction on 31 August 2023, for the media rights of international and domestic matches for the upcoming five-year cycle. A few weeks ago, the BCCI released an Invitation to Tender (ITT) seeking proposals from reputable organisations.

    The ITT, which was made available after payment of a non-refundable fee of Rs 15,00,000 along with applicable GST, included the specific rules and regulations regarding the tender process, including eligibility requirements, the method for submitting bids, rights and obligations, etc. The ITT was up for grabs until 25 August 2023.

    For the new cycle, the BCCI is offering two packages: Indian subcontinent TV rights and Indian subcontinent digital rights, both of which are bundled with the remainder of the world’s TV and digital rights. The television bundle has a starting price of Rs 20 crore per match, however, the digital package commences at Rs 25 crore per match. It has also been mentioned that the total amount per match must not be less than Rs 60 crore per game. The upcoming cycle includes a total of 88 games.

    Only three companies have reportedly submitted technical proposals for the BCCI media rights – Disney Star, Sony Sports Network, and Viacom18.

    According to media reports, other entities such as ZEE Entertainment Enterprises and FanCode, as well as two other international corporations, Google and Amazon are not believed to have participated. As a result, the highly anticipated media rights auction for international and domestic fixtures in India will be a three-way fight between Sony and Star, and Viacom18.

  • Siti Networks CFO Vikram Singh Panwar resigns

    Siti Networks CFO Vikram Singh Panwar resigns

    MUMBAI: Even as all eyes have been focused on the drama at Zee Entertainment Enterprises, there’s been some developments at the troubled Subhash Chandra-owned Siti Networks too. Chief financial officer Vikram Singh Panwar put in his resignation a couple of days ago. The company filed a notice to this effect with the Bombay stock exchange on 9 August 2023. Panwar will continue with Siti Networks until the end of his notice period.

    Panwar had joined the company as CFO as recently as 15 April 2023. A chartered accountant with more than 18 years of experience, Panwar has been part of the digital and structural transformation journey of various companies in telecom, IT, apparel and textile, chemicals and consulting. Among the firms which he has worked with include:  HFCL, HCL Tech, PwC India, Raymond and PI Industries.

  • DD Free Dish announces Sony Pal & Colors Rishtey to go live effective 1 December

    DD Free Dish announces Sony Pal & Colors Rishtey to go live effective 1 December

    Mumbai: Prasar Bharti’s free direct-to-home (DTH) platform announced the return of two general entertainment channels, Sony Pal and Colors Rishtey, effective from 1 December. The free-to-air platform has unveiled the comeback news of big media giants via a tweet shared on 21 November.

     

     

    Colors Rishtey and Sony Pal won the 63rd e-auction process, which was conducted on 18 November 2022.

    Recently, the public broadcaster has invited applications for allotment of vacant MPEG-2 and MPEG-4 slots of DD Free Dish platform on a pro-rata basis for the period from 1 December 2022 to 31 March 2023.

    In April 2022, four big broadcasters—Zee Entertainment Enterprises, Viacom18 Network, Sony Pictures Networks, and Disney Star India—withdrew their flagship channels from bouquets. The decision came in January 2020, when the Telecom Regulatory Authority of India (Trai) announced NTO 2.0, which capped a bouquet channel price at Rs 12 instead of Rs 19 (as per the first NTO).

    In order to increase their advertising revenue and gross rating points (GRPs), the broadcasters decided to rejoin the DD Free Dish platform, as it has a lesser number (176+) of TV channels to compete with than private DTH (500+) services.

    Earlier, when the big players decided to quit the platform, they were completely aware that they had taken on the risk of losing subscribers and ad revenue through that move. Broadcasters knew that if they did not bring back their channels on the platform, then they may have to shut down these channels, as at present, free users are shifting to DD Free Dish for free entertainment and paid DTHs are moving towards OTT streaming apps.

  • Zee Marathi launches new chat show ‘Bus Bai Bus’ on bus ride

    Zee Marathi launches new chat show ‘Bus Bai Bus’ on bus ride

    Mumbai: Zee Marathi announced the launch of its new chat show, Bus Bai Bus. The channel conducted a unique promotional activity by taking the media fraternity on a bus ride with the host of the show, actor Subodh Bhave. While on a tour of the city, the media had a great time interviewing Subodh. Featured as guests, celebrities will be seen revealing their personalities, closest relationships, struggles and adventures, victories and setbacks, hopes and aspirations, fears and inhibitions, and other personal and professional issues.

    The show will begin airing on 29 July 2022, every Friday and Saturday starting at 9.30 p.m on Zee Marathi.

    Zee Entertainment Enterprises chief cluster officer – north, west & premium channels Amit Shah said, “At Zee Marathi, our aim is to delight our consumers with rich and engaging offerings coupled with innovative activities that provide a holistic entertainment experience. With its newly announced slate of shows, the channel has been taking various steps to elevate its marketing efforts and drive higher excitement amongst the audiences. We recently took another step in this direction for the launch of our upcoming offering Bus Bai Bus.”

    He further added, “Actor Subodh Bhave is making his comeback on Zee Marathi with this unique chat show, and the channel took the promotions to the next level with this innovative press conference that is generating huge buzz and word of mouth. We are glad that we pulled it off and created the right buzz around the show.”

  • Zeel elevates Adil Memon as EVP – content and marketing

    Zeel elevates Adil Memon as EVP – content and marketing

    Mumbai: Zee Entertainment Enterprises (Zeel) has elevated Adil Memon as executive vice president of content and marketing. He updated his new role on LinkedIn.

    Memon has been associated with the company for over 14 years. He was previously vice president of content and marketing and led the content and marketing verticals in the Middle East and North Africa (MENA) region. He is responsible for developing strategic partnerships and creating new IPs in content and marketing. Memon pioneered localising Indian drama formats in the MENA region through co-production as Arabic originals.

    He has expertise across media such as TV, print and digital.

  • EdTech sees exponential growth during pandemic

    EdTech sees exponential growth during pandemic

    Mumbai: Education has been one of the severely-hit sectors during the lockdown as the entire education system had to go online overnight. But on the other hand, the Covid-19 pandemic also led the education sector to an unplanned demonstration of e-learning methods, which was not possible otherwise. Interestingly, remote learning, which started as a substitute for offline classes for some time, emerged as a complementary and supplementary mechanism.

    The latest ZEE5 Intelligence Monitor Report gave evidence of the speed and scale of business activities in online education. Conducted on a cross-section of ZEE5 viewers in over 146 cities and towns across rural and urban India, the primary survey included parents who were also regular ZEE5 viewers from tier I, II, and III cities.

    ZEE Entertainment Enterprises chief operations officer Rajiv Bakshi said, “Innovation lies at the epicenter of our business. Coupled with our consumer-centric approach, we endeavored to introduce a property that will educate and empower our audiences as well as partners. ZEE5 Intelligence Monitor knowledge series offers the tenets, roadblocks, and insights of the sectors that have witnessed a massive change in the last two years.”

    The ed-tech report is the first in the series and highlights the disruption witnessed in the Indian education sector, fuelled by tech solutions, convenience and a new-age mindset. “We are confident that the report would benefit brand custodians and product leaders and provide new information and insights for them to make advertising and business decisions,” said Bakshi.

    The report aimed to gauge the changes in consumption patterns and consumer attitudes towards e-learning in India.  This survey by ZEE5 unearthed some interesting insights about online education. Let’s take a look!

    E-Learning Grows As A Nationwide Trend

    As the schools shifted to remote learning, 46 per cent of the survey respondents considered e-learning applications for their children during the pandemic. While 50 per cent of the parents in metro cities embraced e-learning for their children, the corresponding figure for non-metro parents stood at 40 per cent. The figures indicate that e-learning has accelerated nationwide.

    Same Quality of Education For All

    One significant benefit of e-learning apps is that they ensure a similar quality of education for all, which is impossible to imagine in offline classrooms. “E-learning platforms offer the same quality of education across the country, from tier I cities to tier II and tier III locations to the farthest corners of India,” said Toppr founder and CEO Zeeshan Hayath.

    Parents Adopt E-Learning Methods for Kids

    Millennials who were among the early adopters of computers and the internet have also emerged as the first group of parents to adopt e-learning applications. The ZEE5 report highlights that 55 per cent of millennial parents adopted e-learning platforms for their children. As millennial parents include people born during the 1990s, they have grown to see significant disruptions in technology. Hence they were quick to adapt to the e-learning applications.

    Parents See E-learning Cost As An Investment In Child’s Future

    The parents are quick to adopt e-learning and are also open to spending on the platform. As per the report, 63 per cent of parents don’t consider the cost of e-learning as a limiting factor; instead, they see it as an investment in their child’s future. According to ZEE Entertainment Enterprises’ chief operations officer, revenue, Rajiv Bakshi, parents’ willingness to adapt and invest in the new e-learning mechanism is a testimony to the efficacy and value of ed-tech.

    Internet Connectivity Still Remains A Big Barrier

    The applications offering e-learning services interact and participate in activities via computer; thus, robust internet connectivity becomes critical to this new learning mechanism. But even after winning the trust of the majority of parents, ed-tech platforms cannot effectively reach many due to the unstable internet connectivity across the country. With all family members working from home and students studying remotely, internet connectivity is insufficient. Even while mobile phones are available across the nation, the bandwidth it offers doesn’t support e-learning platforms.

    At least 40 per cent of parents feel that internet connectivity is a barrier to effective e-learning. They find internet connectivity even a more significant challenge than the cost of e-learning applications.

    Moving Towards A Hybrid Future Of Learning

    While the lockdown has disturbed human lives like never before, it has forced us towards the things that we couldn’t even think of otherwise- for example- an MNC operating entirely from home or an education system performing remotely. While we all wish to get rid of the pandemic soon, the behavioral changes it has brought will stay with us for life. As far as the education system is concerned, the ZEE5 Intelligence Monitor Report clearly illustrates that e-learning has become very effective.

    E-learning empowers individual learners and has the potential to improve access to education at a broader level when used in conjunction with the traditional class-based model, commented Bakshi on the findings of the ZEE5 survey.

    The e-learning industry trends suggest that teachers and learners have become comfortable with e-learning, they even like this system over the traditional classroom setting. And while the e-learning applications are becoming more immersive, parents also like the fact that they can monitor their children’s academic progress throughout. However, the school environment and physical interaction are crucial for children’s overall growth. We can expect the learning system to move towards a hybrid model where e-learning platforms support classroom learning. 

  • Sports not the only way to grow OTT business: Punit Goenka

    Sports not the only way to grow OTT business: Punit Goenka

    Mumbai: “Sports is not the only way to grow the OTT business,” remarked Zee Entertainment Enterprises Ltd (Zeel) MD and CEO Punit Goenka in an investor call on Wednesday. Zeel posted its third quarter financial results for the fiscal 2022. The company’s OTT platform Zee5 crossed 100 million monthly active users (MAUs) for the first time.

    While responding to a question on how acquisition of sports content will grow the OTT business, Goenka replied, “Until now we have not factored in sports in our OTT business. It is a faster way to grow the business but can it be done without sports? Certainly.”

    Streaming platform Zee5 posted impressive metrics during the quarter garnering 101.9 million MAUs and 9.6 million daily active users (DAUs) growing sequentially and over last year in terms of both MAUs and DAUs. The watch time on the platform also significantly improved to reach 201 minutes which is up by 15 minutes quarter-on-quarter. Zee5 released 51 shows out of which 11 were originals during the quarter.  The platform’s strong performance was registered on the back of a compelling slate of content launched during the quarter and enhanced user experience, said Goenka.

    Meanwhile, the merger process initiated between Sony Pictures Networks India and Zeel in December is making steady progress. The company noted that it will apply to National Company Law Tribunal (NCLT) after receiving necessary approvals for its scheme by the stock exchanges. Furthermore, the company will seek the approval for the scheme from the Competition Commission of India (CCI) in parallel.

    On the linear business side, all India viewership share of the network decreased by 40 bps to 17.3 per cent. During the quarter, the company launched 25+ shows across markets resulting in lower margins. “There have been significant investments in content this fiscal which in turn will reflect in our margins in the short term,” noted Goenka. “This is in line with the content strategy implemented across various genres. As we launch new shows across markets to drive viewership on the linear side we will post strong growth across viewer metrics.”

    “Advertising spending and consumer sentiment saw a significant boost in demand and we see this trend continue as we move forward,” he observed.

    Also read: Zeel reports Rs 21,126 million revenue in Q3’FY22 | Indian Television Dot Com

    Zeel posted an increase in revenues by seven per cent quarter on quarter but saw a slight decline of three per cent year on year in the third quarter of 2021. Both subscription and advertising revenues were lower compared to the same period last year.  

    “In the previous fiscal, we were recovering from a nationwide lockdown which had led to a huge pent-up demand,” explained Goenka. “On subscription revenue, the embargo on pricing has significantly impacted the overall growth across the industry. With NTO 2.0 implementation pushed to the next fiscal year, it is still too early to predict how FY 2023 will look.”

    He added, “In the last 12 months to 15 months the pay TV market has seen an erosion of 4.6 million households which have moved from pay TV to free to air and this is largely caused by the pandemic situation. That’s the cause of further degrowth in subscription revenues. The total TV business has reduced both in terms of reach and revenues on account of a slowdown in the movie business. The lack of fresh movie content for the last two years on the linear side has definitely had an impact. We’ve also had a cricket world cup which impacts movie viewership.

    Speaking about the impact of NTO 2.0 on subscription revenues he said, “It’s still too early to predict. We’re in an uncertain environment with regards to NTO 2.0 implementation. We need a 45-day window to implement and we’re already on 2 February. We must get a clear go ahead on implementation of NTO 2.0 by 15 February.”

    Zee Studios released five films during the quarter out of which one was Hindi and the rest were in regional languages. The movie business faced pandemic induced headwinds but overall opening of theatres and strong pipeline of films augured well for the movie industry at large, said Goenka. “Our studios business has a strong pipeline of films for the year ahead and we are hopeful that the third wave of the pandemic will subside soon, encouraging consumers to return to the big screen. We remain hopeful for an improvement in creative revenues for the subsequent three quarters.”  

    On the impact of the third wave, he said, “The third wave and surge of infections in 2022 could potentially have an impact on the fourth quarter results although it is too early to predict the outcome. The faster rate of recovery during this wave assures the quick resumption of services and activities across markets. We are hopeful that we will end the financial year registering steady growth across our businesses.”

    Zeel posted Rs 21,126 million in the quarter out of which advertising revenue stood at Rs 12,608 million and subscription revenue at Rs 7902 million. Zee5 posted quarterly revenues of Rs 1459 million which is up by 11.8 per cent quarter-on-quarter.