DOCSLIB.ORG

Zee Entertainment Enterprises Limited Show’S On; New Season Begins

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Zee Entertainment Enterprises Limited Show’S On; New Season Begins Zee Entertainment Enterprises Limited Show’s on; new season begins Powered by the Sharekhan 3R Research Philosophy Media & Entertainment Sharekhan code: ZEEL Company Update Update Stock 3R MATRIX + = - Summary We re-initiate coverage on Zee Entertainment Enterprises Limited (ZEEL) with a Right Sector (RS) ü Buy rating with a PT of Rs. 275, considering better ad growth outlook and reducing balance sheet concerns Right Quality (RQ) ü Q3FY21 numbers were strong; expect ZEEL to clock revenue/net profit growth of 18%/22% over FY21-FY23E. Right Valuation (RV) ü Management is focusing on rebuilding investor confidence by 1) improving disclosures, 2) introducing polices and 3) strengthening board composition. + Positive = Neutral - Negative We believe ZEE5 is one of the leading digital platforms, centered on regional content and would continue to leverage its reach further led by hyperlocal content. We re-initiate coverage on Zee Entertainment Enterprises Limited (ZEEL) with a Buy Reco/View rating considering strong results for Q3FY2021, improving outlook for advertisement revenue, sharp recovery of viewership share across genres, marginally lower inventories Reco: Buy q-o-q, increase in net cash position for last three consecutive quarters, receivables CMP: Rs. 215 from Dish TV as per schedule, recovery of offshore investments and potential to make strong inroads into tier-2-3 markets though its digital platform ZEE5. Considering its Price Target: Rs. 275 patchy past (including both internal and external factors), the management is focused on rebuilding investor confidence since the beginning of FY2021 with 1) improved á Upgrade Maintain â Downgrade disclosures (quarterly balance sheet including break-up of a content inventory and content advances and key financials for ZEE5) and 2) introducing polices pertaining to treasury management, investments and related party dealings. Further, the company has strengthened its board composition with the appointment of R Gopalan as Chairman Company details of the Board post resignation of Mr. Subhash Chandra. The company’s balance sheet Market cap: Rs. 20,680 cr and operational performance have improved over last three quarters with reduction in inventories, improvement in net cash position, recovery in advertisement demand, rise 52-week high/low: Rs. 261 / 114 in viewership share and strong performance in subscription revenues. We believe that ZEEL has taken steps in right direction. ZEE5 is one of the leading digital platform which NSE volume: 292 lakh primarily focuses on regional content, would continue to leverage its reach further (No of shares) on the back of hyperlocal content. In Q3FY2021, the management has guided higher BSE code: 505537 investments in movie production business, with 30-40 movies per year versus 10 movies currently, which implies a decline in profitability and cash generation. We estimate NSE code: ZEEL revenue and earnings would grow at a 18% and 22% CAGR over FY2021-23E as ad spends improve, new channels are launched and digital content on ZEE5 is monetised. Free float: 92.2 cr Our Call (No of shares) Valuation: ZEE5 holds key to re-rating, risk-reward favourable: With improving disclosures, change in board structure and reducing inventory and receivables, we believe that balance sheet concerns have gradually eased. Given lot of headroom for growth in Shareholding (%) the broadcasting business (30-35% untapped TV penetration), improving ad revenue outlook, ramp-up of its movie business and monetization of digital content, we expect Promoters 4.0 the company to deliver a healthy 22% CAGR in adjusted net profit over FY2021-FY2023E. The stock is currently trading at a reasonable valuation at 13x/12x of FY2022E/FY2023E FII 76.5 earnings, which is at a 60% discount to the 10-year average 1-year forward PE. We believe DII 13.8 ZEE5 could surprise positively given its strong focus on regional content, which has been dominating the overall streaming growth at present. We re-initiate our coverage on ZEEL Others 5.8 with a Buy rating, with a PT of Rs. 275. Key Risks 1) A slowdown in economy leading to lower demand and subdued realisation for Price chart advertisement revenue stream, 2) delay in monetisation benefit from digitisation and a 325 faster-than-expected content costs could affect earnings, 3) potential ownership change 275 at ZEEL as promoters own less than 5%. 225 175 Valuations (Consolidated) Rs cr 125 Particulars FY19 FY20 FY21E FY22E FY23E 75 Revenues 7,933.9 8,129.9 7,403.5 9,327.5 10,255.0 20 20 20 21 - - - - OPM (%) 32.3 20.1 24.4 26.2 26.0 Jun Oct Feb Feb Adjusted PAT 1,541.7 501.8 1,190.4 1,598.1 1,765.1 % YoY growth 14.1 -67.4 137.2 34.3 10.5 Price performance Adjusted EPS (Rs.) 16.1 5.2 12.4 16.6 18.4 (%) 1m 3m 6m 12m P/E (x) 13.4 41.2 17.4 13.0 11.7 P/B (x) 2.3 2.2 2.0 1.8 1.6 Absolute xx xx xx xx EV/EBITDA (x) 8.1 12.7 9.2 6.1 5.2 Relative to xx xx xx xx RoNW (%) 17.3 5.4 11.6 13.9 13.8 Sensex RoCE (%) 24.0 13.4 14.5 18.4 18.0 Sharekhan Research, Bloomberg Source: Company; Sharekhan estimates February 05, 2021 1 Powered by the Sharekhan 3R Research Philosophy Update Stock Strong macro improvement would benefit broadcasters Post a 3% y-o-y decline in ad volumes (in million seconds) on televisions in 2020, there has been a strong ad volumes growth recovery of 23% y-o-y to 133 mn seconds in January 2021. During H12020, television ad volumes were severely impacted due to the COVID-19 outbreak, strict nationwide lockdowns, lower ad spends by enterprises to maintain liquidity and shutting down of businesses. With fresh content back to television screens and the start of the Indian Premier League (IPL), television ad volumes recovered strongly in the H22020 (up 34% versus H1), which indicates television continues to be the preferred screen of the household. Being one the leading broadcasters with strong and diversified portfolios of channels, we believe ZEEL would be major beneficial from the improved outlook of ad spends. TV ad volumes up 23% in January Ad volumes in million seconds by Genre 140 133 25% 40 36 38 40% 35 32 35% 35% 120 112 108 23% 31 20% 29 30 31% 30% 100 28% 15% 24 25 25% 80 23% 10% 20 20% 18% 16 in in seconds million in in seconds million 60 15 13 15% 5% 40 10 10% 0% 3.24.3 20 -3% 5 5% 0 -5% 0 0% Jan-19 Jan-20 Jan-21 GEC News Movies Music Kids Ad volume (mn seconds) Growth (%) Jan.20 Jan.21 Growth (%) Source: BARC *excludes spots placed by association, social ads and cultural organisation, ads by NGOs and fillers TV advertising to remain strong As per a KPMG report, the Indian media and entertainment (M&E) industry growth would be significantly impacted in FY2021 owing to a nationwide lockdown restrictions owing to the pandemic, slowdown in ad spends, and breaking down of content supply chains. However, the M&E sector is expected to bounce back in FY2022 rising 33.1% y-o-y to reach a size of Rs. 1.86 trillion. The TV segment is expected to bounce back 8.6% y-o-y in FY2022 on the back of strong 19% growth in ad revenue and a 4% growth in subscription revenues. The pandemic has accelerated video consumption on both television and smartphone as consumers spent more time at home. Further, OTT players especially with quality original and local content expanded their presence to tier-2-3 cities. Digital & OTT revenue (Rs. Bn) and growth (%) TV revenue (Rs. Bn) and growth (%) 400 50% 900 15% 338 800 350 43% 41% 40% 9% 10% 300 700 9% 10% 9% 778 254 8% 769 600 714 32% 33% 708 250 218 30% 652 5% 500 200 173 26% 596 in Rs. bn in Rs. in Rs. bn in Rs. 400 150 121 20% 0% 86 17% 300 100 10% 200 -5% 50 100 -9% 0 0% 0 -10% FY17 FY18 FY19 FY20 FY21E FY22E FY17 FY18 FY19 FY20 FY21E FY22E Revenue (Rs. Bn) Growth (%) Revenue (Rs. Bn) Growth (%) Source: KPMG February 05, 2021 2 Powered by the Sharekhan Stock Update Stock 3R Research Philosophy Update Stock Digital & OTT ad revenue (Rs. Bn) and growth (%) TV ad revenue (Rs. Bn) and growth (%) 350 50% 300 25% 262 258 292 251 20% 300 250 19% 40% 224 217 38% 203 15% 250 223 12% 35% 200 10% 10% 10% 32% 199 31% 30% 200 4% 5% 160 150 24% 0% in Rs. bn in Rs. in Rs. bn in Rs. 150 116 20% 100 -5% 86 100 12% -10% 10% 50 50 -15% -17% 0 -20% 0 0% FY17 FY18 FY19 FY20 FY21E FY22E FY17 FY18 FY19 FY20 FY21E FY22E Revenue (Rs. Bn) Growth (%) Revenue (Rs. Bn) Growth (%) Source: KPMG Daily average time spent on TV viewing remains constant in the last three years at 220-225 minutes and a 65-67% penetration of TV in total households provides a huge headroom for subscriber growth going ahead. % Households with TV cable connection 2019 2020 98.7% 99.3% 92.8% 92.7% 66.4% 67.2% % of% household India USA China ARPU ($ per M) $2.9 $75.9 $3.1 Source: BCG Analysis, SNL, Ovum database Hyperlocal OTT players likely to strong growth in subscription base going ahead According to a PwC report, overall OTT market in India is expected to grow at 21.8% CAGR reaching Rs.
Load more

Recommended publications
  • (“Rio”)/ Interconnection Agreement of Zee
    ZEEL – RIO (MRP) - HITS VERSION 4/2020 (16-09-2020) REFERENCE INTERCONNECTION OFFER (“RIO”)/ INTERCONNECTION AGREEMENT OF ZEE ENTERTAINMENT ENTERPRISES LIMITED (“ZEEL”) FOR HEADEND IN THE SKY (“HITS”) PLATFORM FOR INTERCONNECTION WITH HITS OPERATOR TO BE EFFECTIVE FROM OCTOBER 17, 2020. THIS RIO / INTERCONNECTION AGREEMENT SUPERSEDES THE PREVIOUS RIO / INTERCONNECTION AGREEMENT(S) OF ZEEL ON ZEEL’S WEBSITE. ZEEL HAS CHALLENGED THE AMENDMENTS TO THE TRAI REGULATIONS BEING THE TELECOMMUNICATION (BROADCASTING AND CABLE) SERVICES INTERCONNECTION (ADDRESSABLE SYSTEMS) (SECOND AMENDMENT) REGULATIONS, 2020 AND TELECOMMUNICATION (BROADCASTING AND CABLE) SERVICES (EIGHTH) (ADDRESSABLE SYSTEMS) TARIFF (SECOND AMENDMENT) ORDER, 2020 BOTH DATED 01.01.2020, WHICH CHALLENGE IS PENDING ADJUDICATION BEFORE THE BOMBAY HIGH COURT BY WAY OF A WRIT PETITION BEING W.P. (L) NO. 117 OF 2020 AND AS SUCH, THE SAID REGULATIONS HAVE NOT BEEN IMPLEMENTED. THIS RIO, THUS, IS IN STRICT COMPLIANCE WITH THE TELECOMMUNICATION (BROADCASTING AND CABLE) SERVICES INTERCONNECTION (ADDRESSABLE SYSTEMS) REGULATIONS, 2017(AND TELECOMMUNICATION (BROADCASTING AND CABLE) SERVICES (EIGHTH) (ADDRESSABLE SYSTEMS) TARIFF ORDER,2017 BOTH DATED 03.03.2017, WHICH CAME INTO EFFECT FROM 01.02.2019. THE RIO CHANGE HAS BEEN MANDATED DUE TO DISCONTINUATION OF “ZEE ETC” STANDARD DEFINITION (SD) CHANNEL AND LAUNCH OF “ZEE VAJWA” SD CHANNEL. THIS RIO READ WITH THE INTERCONNECTION AGREEMENT SHALL BE SUBJECT TO THE OUTCOME OF ANY ORDER/JUDGMENT/DIRECTIVE OF ANY COURT OF COMPETENT JURISDICTION WITH REGARD TO THE SUBJECT MATTER INCLUDING BUT NOT LIMITED TO (I) WP NOS. 4135 OF 2017, 4091 OF 2017, 7017 OF 2017, 6915 OF 2017 PENDING BEFORE THE HIGH COURT OF DELHI; (II) CIVIL APPEAL NO.
    [Show full text]
  • Schools, Provides Serviceseducational
    IMPROVING HUMAN CAPITAL From conception to career, we’ll nurture the unique potential in each individual, thereby improving the Human Capital of this world. 1 Disclaimer This presentation contains confidential information regarding Zee Learn Limited (ZLL, the Company) and it’s subsidiaries and affiliates (together with the Company, the Group) and is being furnished for limited use and for information purposes only. This Presentation and the information contained herein does not constitute or form part of an offer or invitation, or a solicitation of any offer, or recommendation for the purchase or acquisition of securities or any interest in the Company (including without limitation, to the Indian public or any section thereof). Neither the information contained in this Presentation nor any further information made available in connection with the Company or the Group will form the basis of any contract nor should they be relied upon in relation to any contract or commitment. This Presentation shall not be taken as any form of commitment on the part of the Company. Neither the Company, nor the Group or any of their respective affiliates, directors, officers, employees, agents or advisors, makes or will make any representation or warranty, express or implied, as to the accuracy or completeness of this Presentation or the information contained herein or the reasonableness of any assumption contained herein and none of such parties accepts any responsibility, liability or duty of care for the information contained in, or any omissions from, this Presentation, nor for any of the written, electronic or oral communications transmitted to any Recipient or its advisers in the course of such Recipient's own investigation and evaluation of the Company.
    [Show full text]
  • Airtel Digital Tv Recharge Offers in Mumbai
    Airtel Digital Tv Recharge Offers In Mumbai usuallyBoris corrugate noddled hissome tragopans cane or beguilingcounterplots instrumentally, fitly. Goober but dilated patronized fresh. Karl never paid so representatively. Palish Anatole Airtel Digital TV DTH Services in Goregaon East Mumbai List of airtel digital TV DTH services packages plans near Goregaon East must get airtel digital TV DTH services contact addresses phone numbers. Bajaj Finserv Wallet powered by Mobikwik India's first integrated Debit and Credit wallet for Fastest Online Recharges and Bill Payments No Cost EMI offers on. What axis the best TV packages? Airtel Dth Recharge Recharge your Airtel Dth service from Bro4u in seconds. Click on your entertainment channel plans? Airtel DTH Mumbai Toll-Free Customer a Number- 022 4444-00. Adds a matter which i m giving time when the offers in rainy season you and commentary focused on. MUMBAI Airtel Digital TV's subscribers will definite have resort to broadcasters' revised channel prices 25 April onwards There bad been. Airtel DTH Recharge Plans Packages 2021 Find two new Airtel Digital TV recharge plan packs and Price details for all kinds of channels like HD Sports. Airtel Digital TV Recharge Plans Gizbot. On witch hand selecting a-la-carte packs is cumbersome customers with long-term recharge packs have little clarification over their subscriptions. Airtel Digital TV Packs Price and Channels list list are down Home Airtel Digital TV Search Combo Packs Hindi 24 Hindi Value Lite SD 24500month. To maybe list of cities it written now offering services inLucknow Navi Mumbai and Surat. Browse best prepaid recharge plans for your Airtel number.
    [Show full text]
  • D2h Brings the Latest Converged Technology to Homes with a Range of New-Age Products
    PRESS RELEASE d2h brings the latest converged technology to homes with a range of new-age products Introduces Android based Set Top Box and ‘Alexa Built in’ kit for d2h customers that promises to change the way traditionally TV is watched The ‘d2h stream’ Hybrid HD Set Top Box comes with AndroidTV™ 9.0, and support for Dolby Audio for superior sound clarity with seamless switching between Live TV and popular OTT Apps The ‘d2h Magic (voice enabled)’ which transforms d2h set top box into an Alexa enabled connected STB. It enables content discovery, access to thousands of Alexa Skills through voice commands along with access to popular OTT apps India, 12th March, 2020: With an aim to provide world-class TV viewing for its customers, d2h, a brand of Dish TV India Limited, today launched its new range of ‘Connected Devices’; an internet enabled Android based HD Set Top Box and Voice enabled stick with Alexa built-in. These two launches further strengthen its position as a technology innovator in the DTH industry. ‘d2h stream’, an internet enabled Android based HD Set Top Box runs on the latest Android TV Android TV™ 9.0 OS by Google and is available at a price of INR 3,999 for new subscribers & INR 2,499 for existing subscribers. Apart from live TV channels, it will offer access to the Google Play Store allowing the viewer to download and stream content from OTT platforms. d2h stream will support all popular OTT platforms like Watcho, Amazon Prime Video, Zee5, Voot, ALTBalaji, YouTube and more.
    [Show full text]
  • A New Vision Is Blooming
    A NEW VISION IS BLOOMING ZEE 4.0 - ANNUAL REPORT 2020-21 Zee Entertainment Enterprises Limited Transformation stems from the natural evolution of every living being. Inside each of us lies a distinctive desire to do something more than the norm, out of the ordinary. This nature of existence flows from people to businesses, leading them from old path to new, creating opportunities for themselves and for the rest of the world. Media and Entertainment landscape is not untouched by this phenomenon. From consumer FINANCIAL behaviour to consumer experiences, the industry has evolved in all shapes and forms over STATEMENTS the last few decades. Today, we are seeing a paradigm shift in the consumption and delivery 03 of entertainment. In this new realm, the alchemy of the consumer experience is one that blends content creation, delivery, and monetization in a seamless manner. This hyper- STANDALONE competitive, digitally accelerated environment demands a unique strategic vision. We at ZEE INDEX Independent Auditor’s Report 107 are preparing to step into this future with a sharper and synergised version, transforming into ZEE 4.0 - a future-ready organisation to gain competitive advantage. ZEE 4.0 is Balance Sheet 115 designed around enhanced customer centricity with levers for capitalizing on Statement of Profit and Loss 116 immense growth opportunities and driving higher profitability. COMPANY Statement of Cash Flow 117 OVERVIEW The 5G pillars - Governance, Granularity, Growth, Goodwill and Gusto, form 01 Statement of Changes in Equity 119 the cornerstone of ZEE 4.0, sharpening our abilities to capture the emerging Notes 121 opportunities across markets, to transform ZEE into South Asia’s leading Media & Key Performance Indicators 04 STATUTORY Entertainment Company.
    [Show full text]
  • Earnings Release for the Quarter Ended September 30, 2019
    Strong performance in a challenging environment 26.8% YoY growth in Q2FY20 domestic subscription revenue 1.4% YoY growth in Q2FY20 domestic advertising revenue 7.4% YoY growth in Q2FY20 consolidated revenue EBITDA at Rs. 6,929 mn, EBITDA Margin of 32.7% Profit after tax grew by 6.9% YoY to Rs. 4,132 mn ZEE5 recorded peak DAU base of 8.9 mn in September Q2FY20 HIGHLIGHTS ❖ Total revenue for the quarter was Rs. 21,220 million, growth of 7.4% YoY. The growth was driven by the strong performance of domestic broadcast and digital businesses. ❖ Advertising revenue for the quarter was Rs. 12,247 million, growth of 1.2% YoY. Domestic advertising revenue grew by 1.4% YoY to Rs. 11,690 million. International advertising revenue for the quarter was Rs. 557 million. ❖ Subscription revenue for the quarter was Rs. 7,235 million, growth of 19.0% YoY. Domestic subscription revenue grew by 26.8% YoY to Rs. 6,459 million. International subscription revenue was Rs. 776 million. ❖ EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) for the quarter grew by 2.5% to Rs. 6,929 million and EBITDA margin stood at 32.7%. ❖ ZEE5 recorded a peak DAU (Daily Active User) base of 8.9mn in the month of September. ❖ ZEEL’s television network had an all-India viewership share of 18.4% during the quarter. Zee Entertainment Enterprises Limited 18th Floor, A-Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel, Mumbai - 400013, India +91 22 7106 1234 Mumbai, October 17, 2019: The Board of Directors in its meeting held today has approved and taken on record the unaudited consolidated financial results of Zee Entertainment Enterprises Limited (ZEEL) (BSE: 505537, NSE: ZEEL.EQ) and its subsidiaries for the quarter ended September 30, 2019.
    [Show full text]
  • CORPORATE ZEE 30 06 06.Qxp 03/806 11:26 AM Page 36
    CORPORATE ZEE 30 06 06.qxp 03/806 11:26 AM Page 36 Corporate The zest in Zee Through a series of changes, Zee Telefilms has moved rapidly ahead. Ryan Rodrigues reports few years ago the average Telefilms, softer changes were introduced. benefit from the increased management viewer in India had written off The traditional rectangular Zee logo was focus on respective businesses," it says. Zee Telefilms as a potential given a contemporary look, with bends and Next was a Merrill Lynch report. "Zee TV A No 1. A media and entertain- curves to target a younger audience. has finally overtaken Star Plus in the 9-10 ment company, it had been a market leader Headquarters shifted from the suburbs to a pm band in the first week of June with its in the Indian television space for long. But swanky building in the centre of the city. shows beating Star Plus after six years," it stiff competition had started to take its toll. Today behind the glass walls of this says. "Developments reinforce our view At its offices in Mumbai, senior managers two-storey structure, executives buzz that improving content and platforms will would walk in - and then they walked out. around with purpose in their feet. be key triggers to sustain Zee's premium One successful show on rival Star TV, fol- The verdict first came from TAM valuations." lowed by a serial onslaught, had whittled Ratings in June. The industry's audience Stock analysts' now stick their necks down homegrown Zee from prime position measurement system lists 10 Zee shows in out for Zee; the company has become a to No 3.
    [Show full text]
  • Media and Entertainment
    MEDIA AND ENTERTAINMENT April 2021 For updated information, please visit www.ibef.org Table of Contents Executive Summary 3 Advantage India 4 Market Overview 6 Recent Trends and Strategies 15 Growth Drivers 19 Opportunities 28 Key Industry Contacts 31 Appendix 33 2 Executive summary Digital and OTT • Digital media in India stood at Rs. 234.9 billion (US$ 3.16 billion) in 2020, increasing at a CAGR of 22% between 2019 and 2023, to reach Rs. 424.5 billion (US$ 5.72 billion). Broadcasting markets • The growth is driven by rising content • The Union Budget 2021 allocated funds demand by consumers in India. By worth Rs. 4,071.23 crore (US$ 562.80 2023, the demand for original content million) to the Ministry of Information and is expected to reach >3,000 hours a Broadcasting. year, up from 1,187 hours in 2020. • The allocation to Prasar Bharati stood at • Curated short video platforms are Rs. 2,640.11 crore (US$ 364.96 million). expected to account for 25% of the • The budget for other autonomous bodies total online video viewing time by such as the Press Council of India stood 2023. at Rs. 20 crore (US$ 2.76 million), Films • By 2025, regional language and Television Institute of India (FTII) at consumption on OTT platforms are Rs. 58.58 crore (US$ 8.10 million) and expected to surpass Hindi langage, Indian Institute of Mass Communication which accounted for 45% of the total at Rs. 65 crore (US$ 8.99 million). time spent in 2020. • The allocation for broadcasting under social services stood at Rs.
    [Show full text]
  • Press Release 29.06.2019 – Altbalaji and Zee5 Announce Content Alliance to Grow the SVOD Business
    C·13, BaIaJI House, Dalla Industrial Estate, Opp. Laxmllndustrtes. New Link Road, Andherl (West), Mumbai • 400 053. 1el.:40698000 Fax: 40698181 182 183 Website: www.balajitelefilms.eom crN No.: L99999MH1994PLC082802 July 29, 2019 To, BSE Limited. National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, "Exchange Plaza" I Dalal Street, Bandra-Kurla Complex, Bandra (East), Mumbai-400 001 Mumbai-400 051 Stock Code: 532382 Stock Code: BALAJITELE Sub: Corporate Announcement Dear Sir/Madam, Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing the Press Release of Balaji Telefilms Limited. Kindly take the same on record and upload it on your respective sites. Thanking you. Yours truly, For Balaji Telefilms Limited ~=~ ~~D Simmi Singh Bisht Group Head Secretarial Membership No. A23360 Enc1:'- a/a ALTBALAJI & ZEE5 ANNOUNCE CONTENT ALLIANCE TO GROW THE SUBSCRIPTION VIDEO ON DEMAND BUSINESS ~A first of its kind OTT collaboration to co-produce 60+ Originals ~ ~ Both players will co-create cutting edge content and share consumer insights ~ National, July 29, 2019: With an aim to leverage each other’s strengths in the OTT domain, ZEE5 and ALTBalaji have collaborated to co-create original content which will only be available on both platforms. The content sharing arrangement, includes co-creation of 60+ Original content series (in Hindi) which will be available exclusively to SVOD subscribers of both platforms. This association is a collaborative process of co- understanding consumer insights and co-marketing to serve the viewer better and resulting in improved monetisation for both. ZEE5 and ALTBalaji have established their content strength globally, and the synergy will result in two of the largest homegrown video streaming platforms coming together to expand their subscription base and grow the binge-watching culture globally.
    [Show full text]
  • Zeel's Mission Goal
    ANNUAL REPORT 2016-17 A TO ZEE OF CONTENT LEADERSHIP CORPORATE OVERVIEW STATUTORY REPORTS 01 02 ZEEL At A Glance 02 46 Management Discussion And Analysis 04 Events And Milestones 66 Notice 06 Message From The Chairman 70 Directors’ Report 08 Key Performance Indicators 76 Annexures to Directors’ Report 10 Message From The MD & CEO 88 Secretarial Audit Report 12 All You Can See 90 Report on Corporate Governance 14 We Speak Your Language 104 Business Responsibility Report 16 We Are Where You Want To Be 109 Certification of Financial Statements 18 All The World Is A Stage 20 More. Much More Than TV. 22 Business Overview FINANCIAL STATEMENTS 30 Strategy For Sustainable Growth 03 STANDALONE 32 Q&A With Amit Goenka - CEO (International Business) 110 Independent Auditor’s Report 34 Q&A With Chief Finance and Strategy Officer 114 Balance Sheet 36 Board Of Directors 115 Statement of Profit and Loss 38 Leading With People 116 Statement of Changes in Equity 40 Leading With Thought. Growing Through Engagement 117 Statement of Cash Flow 42 Corporate Social Responsibility 119 Notes 43 Caring For The Environment 162 Last Five Years Financial Highlights 44 Corporate Information 163 Performance Ratios - An Analysis CONSOLIDATED 164 Independent Auditor’s Report 168 Balance Sheet 169 Statement of Profit and Loss 170 Statement of Changes in Equity 171 Statement of Cash Flow 173 Notes ATTENDANCE SLIP & ROUTE MAP FOR VENUE OF AGM PROXY FORM ON THE COVER Forward-looking statement In this Annual Report, we have disclosed forward-looking information to enable investors to comprehend our A TO ZEE OF CONTENT prospects and take investment decisions.
    [Show full text]
  • ZEE ENTERTAINMENT ENTERPRISES Strong Q1 Reinforces Our Top Pick Stance
    RESULT UPDATE ZEE ENTERTAINMENT ENTERPRISES Strong Q1 reinforces our top pick stance India Equity Research| Media COMPANYNAME Zee Entertainment Enterprises’ (ZEE) Q1FY19 revenue and EBITDA came EDELWEISS 4D RATINGS in line, while PAT surpassed estimate. Key positives: (i) 22.3% YoY growth Absolute Rating BUY in domestic advertising. With innovations likely to be at a record high in Rating Relative to Sector Outperform FY19 (HUL’s ad spends jumped 27% YoY in Q1FY19), we expect ad Risk Rating Relative to Sector Medium expenses of FMCG players to continue to be high; and (ii) 12.3% YoY spurt Sector Relative to Market Overweight in domestic subscription revenue. The 21.2% YoY rise in selling & admin cost incurred for promotion of newly launched ZEE5 was key negative. Broad-based ad growth across categories, higher ratings for Zee TV and MARKET DATA (R: ZEE.BO, B: Z IN) CMP : INR 515 sustained focus on regional markets (likely GEC launch in Kerala) brighten Target Price : INR 700 prospects. Response to ZEE5 (launched in February) and implementation of TRAI’s tariff order are key monitorables. Maintain ‘BUY’. 52-week range (INR) : 619 / 477 Share in issue (mn) : 960.5 M cap (INR bn/USD mn) : 496 / 7,252 Domestic ads extend robust run; digital initiatives yielding results Avg. Daily Vol.BSE/NSE(‘000) : 2,247.3 ZEE sustained robust domestic LTL ad growth (up 22.3% YoY; our estimate 18.0%) driven by higher ad spends across categories and increase in the network viewership SHARE HOLDING PATTERN (%) share. The company had an all-India viewership share of 19.2%.
    [Show full text]
  • Indepth Analysis of the D2H Industry on Behalf of Videocon and Handling
    WELINGKAR INSTITUTE OF MANAGEMENT RESEARCH & DEVELOPMENT SUMMER PROJECT ON Indepth analysis of the D2H industry on behalf of Videocon and handling Brand promotions and events for Planet M (Research on “India has 6 major DTH players whereas the world over every country has approx 2. Can the Indian market absorb all?” done to develop the Videocon brand name Handling Planet M brand promotions and a major event called “Mirchi Create With Agnee” in collaboration with Radio Mirchi) BY ESHA SYLVIA BAILEY PGDM 2009 – 11 Marketing TRIMESTER IV ROLL NO 9 1 Table of Contents Industry Overview ............................................................................................ 3 History: .................................................................................................... 3 GLOBAL SCENARIO ....................................................................................... 5 Current Indian Scenario:................................................................................... 6 VIDEOCON INDUSTRIES LTD. ........................................................................... 9 Objectives of the project: .................................................................................... 13 EXECUTIVE SUMMARY ................................................................................. 14 Porter‘s Analysis of the DTH industry: ..................................................................... 16 SWOT Analysis ............................................................................................. 18 Concept
    [Show full text]