Mumbai: Zee Entertainment Enterprises Ltd’s Y21 revenues remained suppressed due to the impact of COVID in H1FY21.
The consolidated net profit for the quarter ended in March 2021 stood at Rs 272.36 crores. The revenue declined by 4.9 per cent to Rs 7,729.92 crore as compared to last year. In Q4FY21, the Consolidated revenue grew by 0.8 per cent year-on-year to Rs 1,965.8 crore.
The Zee network witnessed a strong recovery in domestic advertising, and it is continuing.
Domestic advertising revenue for the quarter grew by 8.9% YoY, driven by the continued recovery in the macro advertising environment; FY21 domestic advertising revenue declined by 19.7% due to the impact of the pandemic in H1.
Like to like growth (excluding reclassification of music subscription revenue) of 5.6% and 5.8% for the quarter and year, respectively, was primarily driven by ZEE5 Other Sales & Services
Decreased YoY due to continued impact of a pandemic on theatrical revenues and reclassification of music revenue to subscription
Programming cost (excluding one-time inventory write-off of Rs. 2,598mn in Q4FY20) declined by 19.2% during the quarter, primarily due to lower accelerated inventory amortisation this quarter;
Adjusted programming cost for the year declined by 8.2% due to lower original programming during first quarter A&P and Other expenses
A&P and other costs (excluding the one-time provision of Rs. 3,433mn in Q4FY20) declined by 14.1% YoY during the quarter; there was a decline of 16.4% in FY21 due to lower marketing spends in the first quarter
International revenue break-up- Advertising revenue – Rs. 526mn, Subscription revenue – Rs. 553mn, Other Sales & Services – Rs. 154mn
ZEE network share improves to 18.9%, continues to be India’s #2 TV entertainment network.
A 7% increase in the TV universe reaffirms its status as the biggest reach media in the country.
Network share grew by 70bps QoQ led by FTA and two channels in South markets.
Performance of regional channels shows improvement. Bengali, Telugu and Kannada media improved percentages during the year. Performance in Tamil and Marathi lagging expectations
Resurgence in COVID cases impacted the near-term plan of the Movies business.
Zee Music Co saw a growth of 50%+ YoY growth in YouTube video views, showing strong consumer affinity for the ZMC music library. ZMC added ~4mn subscribers on YouTube; with 72.8mn subscribers, it is the second most subscribed Indian music channel on YouTube.
