Zee Entertainment reports 18.8% decline in Q2 FY2021 revenues at Rs 17,227 mn

Zee Entertainment Enterprises Ltd (ZEEL) has seen an 18.8 per cent YoY decline in its consolidated revenue for Q2 FY2020-2021 at Rs 17,227 million. Adjusted EBITDA for the quarter (excluding one-offs) stood at Rs 3,948 million, EBITDA margin of 22.9 per cent.

Advertising revenue for the quarter declined by 26 per cent, compared to 66 per cent decline in Q1. Rebound in demand was seen across most consumer segments bodes well for advertising revenues in H2.

Meanwhile, subscription revenues reported a growth of 10.6 per cent, which includes revenue from music business, which has been reclassified as subscription revenue in this fiscal. On a like-to-like basis, domestic subscription grew 2.3 per cent YoY, primarily driven by growth in ZEE5 subscription revenues.

ZEEL reported a 19.0 per cent all India entertainment share in Q2, making it the No. 2 TV entertainment network in India. A strong rebound was seen in ratings across the markets with resumption of original content.

ZEE5’s Q2 FY2020-2021 revenue and EBITDA stood at Rs 989 million and Rs 1,894 million, respectively. ZEE5 reported global Monthly Active Users (MAUs) of 54.7 million, while Daily Active Users (DAUs) stood at 5.2 million in September 2020. ZEE5 users spent an average of 152 minutes per month on the platform, registering a 36 per cent QoQ growth. Also, ZEE5 launched HiPi – a short video platform, to capture the growth in short video segment during the quarter.

Also during the quarter, Zee Studios launched ZeePlex, a PPV platform for releasing new movies.