ZEE Entertainment Enterprises Limited has confirmed that it will be launching its new digital platform, ZEE5 in February.
ZEE5 was announced at the launch of ZEE Network’s new idents in October. Since then, no official news has come out until now. Buoyant on its high advertising revenue for Q3/18, ZEEL Managing Director and CEO Punit Goenka said, “We are delighted to deliver a strong operating performance during the quarter. The slower growth in the last four quarters was due to specific events that required advertisers to recalibrate spends. As the impact of these factors is now behind us, ad spends have bounced back strongly and the outlook remains encouraging. The recent cut in GST rates across a wide category of products should aid the growth. Our domestic ad revenue growth of 26 percent is a testimony to the fact that television continues to remain the most effective medium for brand building. With a dominant time share along with an increasing reach, television will remain an important medium for advertisers in the foreseeable future. On top of this, digital platforms are driving incremental video consumption which represents another growth opportunity for content monetisation. Our new digital platform, ZEE5, scheduled to be launched in February, will enable us to capture this growth.
He added, “The domestic subscription growth for the quarter was at 7.5 percent. The growth so far has been lower than what we had last year as the content deals with our distribution partners are taking slightly longer to conclude due to litigations regarding the TRAI tariff regulation. Last year we had closed majority of these deals in the second and third quarter. However, this does not have any significant impact on our full year outlook for subscription growth.”