2025-01-23 19:07:00 :
Zee Entertainment Enterprises Ltd’s net profit is $Revenue for the third quarter ended December was Rs 164 crore, up 180% from the same period last year $585 million a year ago. Operating income fell 3% year-on-year $1,979 Crores.
While advertising revenue increased 4% quarter-on-quarter during the quarter, it fell 8% year-on-year due to lower advertising spending in the fast-moving consumer goods (FMCG) industry due to slower consumption during the festive season. media and entertainment companies said.
Subscription revenue increased 7% year over year in the third quarter $982 crore, driven by linear subscription revenue and the company’s video streaming platform ZEE5.
Other sales and services declined year over year due to a reduced movie calendar and lower syndication revenue. During the quarter, Zee Studios released films like “Sabarmati Report” and “Vanvas” in cinemas.
Zee’s board of directors on Thursday approved the appointment of Divya Karani as an independent director on the recommendation of the nomination and remuneration committee. Karani was previously CEO of Dentsu Media South Asia, leading the agency for more than 12 years.
She is a board member of Kulfi Collective, a modern media network building brands and studios at the intersection of content, commerce and culture, where she serves as Chairman and Executive Director. She has been serving as an independent director on the board of Jagran Prakashan since 2019.
In February 2024, Zee said it was formulating a three-pronged approach: cutting costs, reducing business overlap and improving quality to regain profits after its merger with Sony Pictures Entertainment failed.
The company has seen a series of high-level departures over the past few months, including business president Rahul Johri; Punit Misra, president of content and international markets; Nitin Mittal, president and group chief technology officer; and Zee Studios chief commercial officer Shariq Patel.
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