Zee Entertainment Ltd. reported a decrease in total consolidated revenue by 23%, falling to Rs 2,130 crore in the third quarter of the financial year 2022 from Rs 2,757 crore in the corresponding period a year ago.
EBITDA for the quarter stood at Rs 429.4 crore as compared to Rs 592 crore reported for Q3FY21, down by 27.5%.
Zee’s advertising revenue increased on a quarterly basis, reaching Rs 1,260 crore as compared to Rs 1,089 crore last quarter. But on a yearly basis, there was a decrease in ad revenue as last year the ad revenue reported by the company stood at Rs 1,302 crore.
YTD subscription revenues were marginally lower due to linear business. The embargo on pricing due to the implementation of NTO 2.0 continues to impact revenue growth.
The company also reported an increase in marketing cost on a YoY basis on account of new launches and continued investments in Zee5.
Total TV viewership went down during the quarter due to lower contribution from the Movies.
Zee5, the digital arm of the company showed signs of relief reporting a YoY increase in monthly average users (MAUs) by 36 million, reaching 101.9 million. 51 shows and movies were released during the quarter.
There was a 42% YoY growth in YouTube video views on the Zee Music YouTube channel with 80 million subscribers. Zee Music is the second-most subscribed Music channel on YouTube behind T-series.