New Delhi: Zee Media Corporation Limited (ZMCL) has reported a decline in its revenue for the financial year 2024 (FY24) due to a slump in advertisement revenue, content sales, and channel management fees. While the company’s subscription revenue saw a slight increase, the overall impact led to a 11.42% drop in its revenue from operations.
The network’s ad revenue experienced a significant decline of 11.92% in FY24 compared to the previous year. Similarly, content sales and channel management fees also witnessed a notable decrease. However, subscription revenue provided a glimmer of hope, growing by 11.74% during the same period.
Despite the decline in revenue, ZMCL’s total income for FY24 only dropped by 10.37% due to other income sources. Meanwhile, the company’s operating costs increased by 7.34%, primarily driven by investments in new properties and channels.
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The company’s marketing, distribution, and business promotion expenses surged by 52.09% in FY24, reflecting its efforts to expand its reach and market its offerings. However, advertisement and publicity expenses declined by 37.19%.
ZMCL attributed the decline in revenue to regulatory changes, such as the New Tariff Orders (NTO) and advertising caps introduced by the Telecom Regulatory Authority of India (TRAI). These changes have impacted the industry’s pricing and distribution strategies, affecting ZMCL’s business model.
Despite the challenges, ZMCL remains optimistic about its future, emphasizing its efforts to adapt to the evolving media landscape. The company’s foray into new markets and the launch of new channels demonstrate its commitment to growth and innovation.
