Zee Entertainment's Q1 figures show a loss of Rs 53 crore and a 2.6% decline in ad income

10 Aug 2023 , 10:52 AM

Zee Entertainment recorded a loss of Rs 53.4 crore on Wednesday, compared to a profit of Rs 106 crore during the same time previous year. The company’s advertising income was Rs 901.8 crore, down 2.6% annually and 6.4% on a quarterly basis.

Revenue from other sales and services increased by 42%. YoY helped by movie release-related theatre revenue. Because of ZEE5 investment and greater content prices for movies (including theatrical releases), the company’s programming and technology costs rose year over year. Zee’s EBITDA was Rs 154.9 crore for the quarter.

The Indian Premier League, a cricket competition, predominated advertising spending for the first two months of the quarter, according to Zee. According to Zee, marketing costs climbed as a result of investments in new series, films, and theatrical releases, while programming and technological costs rose as a result of greater content costs in movies.

The broadcaster reported that ‘green shoots emerged toward the end of the quarter, with early signs of advertisement spending starting to pick up, led by fast-moving consumer goods companies.’

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