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Zee Media Q2FY24 revenue drops 22%

The news network posts consolidated revenues of Rs 1,51.6 crore for the quarter ended September 30, 2023

Zee Media Corporation Limited (ZMCL) on Tuesday reported consolidated revenues of Rs 1,51.6 crore for the quarter ended September 30, 2023. The network incurred expenditure of Rs 1,71.8 crore in the same period and operating loss of Rs 20.2 crore.

The company incurred a net loss of Rs 30.7 crore in Q2 of the financial year 2024.

ZMCL’s consolidated advertising revenue fell 22% YoY in the September quarter.

The advertising revenue for the quarter ended September 30 stood at Rs 142.5 crore as compared to Rs 184.3 crore in the corresponding quarter of the previous year.

ZMCL in its regulatory filing said that the company has re-registered for the Television Audience Measurement System with the Broadcast Audience Research Council (BARC).

“This move comes after constructive discussions with BARC, resulting in an agreement to share raw data on a timely basis. It reflects ZMCL's steadfast commitment to transparency and a mutually beneficial partnership and reaffirms the media industry's collective commitment to transparent and credible audience measurement,” the company said.

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