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Zee Media Corporation Limited declares Q2FY23 results: reports consolidated revenues of ₹ 4,017.3 mn for the half year ended September 30, 2022

Nov 09, 2022
Zee Media Corporation Limited (ZMCL) (BSE: 532794, NSE: ZEEMEDIA) reported consolidated revenues of ₹ 4,017.3 mn for the half year ended September 30, 2022. The network incurred expenditure of ₹ 3,414.9 mn in the same period. The Board of Directors, in the meeting held today, approved and took on record the financial results of ZMCL for the quarter and half year ended September 30, 2022.

Highlights:

(₹ million)

For the Quarter Ended

Upto the Quarter Ended

Q2FY23

Q2FY22

Gr o w t h

Q2FY23

Q2FY22

Growth

Operating Revenue

1,947.7

2,061.4

-5.5%

page1image66807968

4,017.3

3,763.2

6.8%

page1image66909808

Expenditure

1,743.8

1,438.9

21.2%

page1image66907312

3,414.9

2,687.6

27.1%

page1image66938832

Operating Profit (EBITDA)

203.9

622.5

-67.2%

page1image66954384

602.4

1,075.6

-44.0%

page1image66938832 


Business Highlights

The 14 TV news channels of ZMCL comprising 1 Global, 4 National and 9 Regional language channels, together with 5 digital channels and 17 digital brands, continued to be one of the largest news networks in the country.

Zee News enjoyed 11.9 minutes ATSV, while its digital version had 660+ million video views on YouTube in Aug'22. The channel did 75 hours special coverage on Independence Day and held a mega event 'Zee Sammelan'. The channel reached over 51.7 million viewers through continued focus on innovative news programming [Source: BARC, All 15+, HSM, 0600-2400 hrs, WK 38'22 (4 weeks rolling average)].

WION enjoyed 6.3 minutes ATSV [Source: BARC, All 22+ Male AB, India Urban, 0600- 2400 hrs, WK 38'22 (4 weeks rolling average)].The channel aired 4 unique episodes covering India's 75 years of Independence and did special coverages such as Shinzo Abe Assassination in Japan, swearing-in of Ranil Wickremesinghe sworn as Sri Lankan President and annual meeting of SCO Summit.

Zee Business is leading the Hindi business news segment with 57.2% market share, 1.27 mn viewers and 30 minutes ATSV. [Source: BARC, All 22+, Male ABC, HSM, 0600- 2400 hrs WK 38'22 (4 weeks rolling average)]. It was the most viewed Hindi business channel on major social media platforms and aired a series of special shows showcasing how investment habits and preferences of people have changed over the past 75 years.

24 Taas, our Marathi news channel, enjoyed 2nd ranking with 21.2 minutes ATSV. The channel continued to lead the Marathi news segment, reaching 28.7 mn viewers [Source: BARC, All 15+, 0600-2400 hrs, WK 38'22 (4 weeks rolling average)].

Zee Hindustan, our National Hindi news channel reached 41.9 million viewers through continued focus on innovative news programming. The channel enjoyed ATSV of 9.4 minutes. [Source: BARC, All 15+, HSM, 0600-2400 hrs, WK 38'22 (4 weeks rolling average)]. 

Zee 24 Kalak, our Gujarati news channel reached over 10.7 million viewers. The channel is leading the genre with 25.1% share and ATSV 20.9 minutes [Source: BARC, All 15+, Guj/D&D/DNH, 0600-2400 hrs, WK 38'22 (4 weeks rolling average)]. 

Zee 24 Ghanta, our regional channel targeting the population of Bengal reached 14.5 million viewers with 9.4% market share and enjoyed ATSV of 10.1 minutes. [Source: BARC, All 15+, West Bengal, HSM, 0600-2400 hrs, WK 38'22 (4 weeks rolling average)]. 

Zee Rajasthan, our regional channel catering to the Rajasthani audience retained its top position leading the market with 79.2% share, with an ATSV of 17.5 minutes and 4.4 mn viewers. [Source: BARC, All 15+, Rajasthan, 0600-2400 hrs, WK 38'22 (4 weeks rolling average)]. 

Zee Bihar Jharkhand, our regional channel for the states of Bihar and Jharkhand, maintained its top position in the market with 64.4% share, 15.5 minutes ATSV and reached more than 5.6 million viewers. [Source: BARC, All 15+, Bihar/Jharkhand, 0600- 2400 hrs, WK 38'22 (4 weeks rolling average)]. 

Zee Uttar Pradesh Uttarakhand retained its 1st position in the genre with 49.5% market share and 10.6 minutes ATSV and reached over 3.9 million viewers. [Source: BARC, All 15+, UP/UK, 0600-2400 hrs, WK 38'22 (4 weeks rolling average)]. 

Zee Madhya Pradesh Chhattisgarh, continued to top the genre with 65.5% market share, 18.1 minutes ATSV and 6.6 million coverage. [Source: BARC, All 15+, UP/UK, 0600-2400 hrs, WK 38'22 (4 weeks rolling average)]. 

Zee Punjab Haryana Himachal enjoyed the 1st ranking amongst its audiences across Punjab, Himachal Pradesh and Haryana with 33.1% market share and reached more than 8.55 million viewers, 17.3 minute ATSV. [Source: BARC, All 15+, PHCHPJ&K, 0600- 2400 hrs, WK 38'22 (4 weeks rolling average)]. 

Zee Salaam, our Urdu offering, continued to be at the top position with 94.1% market share, 6.7 mn viewers and 9.4 minutes ATSV. [Source: BARC, All 15+, India, 0600-2400 hrs, WK 38'22 (4 weeks rolling average)]. 

Digital properties with 17 brands in 11 languages, have 3.99 billion pageviews in Q2FY23 in compared to 3.7 Bn in Q1FY23 and MAU 320 Mn in Q2FY23, compared to 294 Mn in Q1FY23. 
  • Zee News Hindi is on 1st position & highest ever users in Q2 FY23 at 70.3 million, also our Health Site is on 2nd Position (ComScore, Aug'22). 
  • In News/Information category, we are on 2nd position with 214 Mn Users (ComScore, Aug'22). 

Corporate Development

ZMCL has been repeatedly raising the issue of ratings being drawn from the usage of landing pages / channels. ZMCL believes that the impact of such landing pages / channels should not be considered since these channels / services are obtained on commercial terms. Pending resolution of this issue, ZMCL has sought suspension of BARC ratings for TV channels during the quarter under review.

The Nomination and Remuneration Committee of the Board, at its meeting held today, considered the candidature of Mr. Purushottam Vaishnava for appointment as Director and advised the management to file requisite application with the Ministry of Information and Broadcasting for seeking prior approval for the same.

Report By: Mayank Agarwal
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