New Delhi: Zee Media Corporation Limited (ZMCL) reported a mixed bag of results for the first half (H1) of the financial year 2024-25 (FY25). While the company achieved a 6.6% growth in standalone revenue, reaching ₹224 crore compared to ₹210 crore in the same period last year, the second quarter (Q2) saw a decline.
Strong Start, Softer Second Quarter
The positive H1 performance was driven by a 3.1% increase in advertising revenue (₹283 crore vs. ₹274 crore) and a significant 35% jump in subscription revenue (₹24 crore vs. ₹18 crore). However, Q2 witnessed a 12% drop in total revenue (₹96.5 crore vs. ₹110 crore).
Consolidated Growth, Q2 Decline
Looking at the consolidated figures, Zee Media achieved a 5% growth in H1, with total revenue reaching ₹307 crore compared to ₹292 crore in the previous year. However, similar to standalone results, Q2 saw a 13.8% decline in consolidated revenue (₹131 crore vs. ₹151 crore).
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Zee News Viewership Gains Traction
Despite the mixed financial performance, Zee Media highlighted the strong performance of its flagship Hindi news channel, Zee News. The channel saw a significant improvement in market reach, currently ranking 4th with 58 million viewers (Source: BARC, All 15+, Zee News, 0600-2400 hrs, WK 41’24).
Focus on Growing Active Advertiser Base
Zee Media is aiming to capitalize on the improved viewership of Zee News. Sources close to the company revealed they are focused on building on the “phenomenal” number of active clients across their channels.
Continued Strength in Regional Channels and Digital
While Zee News garnered the spotlight, the company also emphasized the continued strong performance of its regional channels and digital properties. These platforms have maintained high engagement with their target audiences through relevant content creation.
Future Outlook Uncertain
The company refrained from disclosing its financial outlook for the remaining fiscal year. However, sources suggest the inventory fill rate is meeting expectations despite a subdued market environment.
Overall, Zee Media’s H1 performance indicates a cautious optimism. The growth in subscription revenue and the strong viewership of Zee News are positive signs. However, the decline in Q2 revenue and the uncertain outlook raise questions about the company’s future trajectory.
