Latest news with #ZEEL
Time of India
3 hours ago
- Business
- Time of India
JioStar ups damage claim to over $1 billion in ICC rights arbitration with Zee
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Jio Star India , jointly owned by Reliance and Disney and formerly known as Star India, has increased its damage claim against Zee Entertainment Enterprises Ltd (ZEEL) to over $1 billion in the ongoing arbitration over the now-terminated ICC broadcast rights a disclosure to the exchanges, ZEEL said, 'On 13 June 2025, Star filed its Reply and Defence to Zee's Counterclaim of terminating the Alliance Agreement and updated its damage claim to $1,003 million (from $940 million) as of 30 April 2025.'The dispute stems from an agreement signed on 26 August 2022, under which Star sublicensed the television broadcasting rights for ICC Men's and Under-19 global events for the 2024–2027 cycle to Zee, while retaining the digital Alliance Agreement was subject to certain conditions precedent, including financial commitments, corporate and bank guarantees, and final approval from the International Cricket Council (ICC).Star had acquired the ICC TV and digital rights for India for $3 billion and sublicensed the television rights to Zee under a prior commercial early 2024, Star, through its legal counsel, alleged that Zee had breached the agreement by failing to pay the first installment of $203.56 million and by not submitting the required response, ZEEL terminated the agreement on 8 January 2024, citing Star's alleged repudiatory breach. The company also sought a refund of Rs 685 million (approximately $8 million) paid towards bank guarantee commissions and initiated arbitration proceedings before the London Court of International Arbitration (LCIA) on 14 March 2024, initially seeking specific performance of the agreement or, alternatively, damages. On 20 June 2024, Star terminated the agreement and opted to pursue damages to a procedural order issued by LCIA on 18 July 2024, Star filed its Statement of Case on 16 September 2024, seeking a declaration that it had validly terminated the agreement and quantifying damages at $940 million as of 31 August 2024, the proxy date used for the final award, along with interest and responded with its Statement of Defence and Counterclaim on 23 December 2024, denying Star's claims and seeking a refund of $8 million plus interest. On 31 May 2025, both parties exchanged their respective responsive documents as part of the document discovery phase in the its latest filing on 13 June 2025, Star raised its damages claim to $1.003 billion. Zee is required to file its rejoinder by 8 August 2025, and evidentiary hearings are scheduled for November.'The Board continues to monitor the progress of the aforesaid matter,' ZEEL said. 'The management, based on legal opinion and internal assessment, has determined that the company is not in default of the Alliance Agreement and believes that the claims made by Star are unfounded and legally not tenable.'ZEEL added that it does not expect any material adverse impact from the proceedings, reiterating its view that the contract has been repudiated and no adjustments are required to its financial ZEEL MD and CEO Punit Goenka said the company was open to 'all possible avenues' in resolving the dispute. 'We are open to all possibilities available to us, both legal and non-legal, including out-of-court settlements,' Goenka said during the Q4 earnings call. 'But it's too early to comment further.'
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Business Standard
4 hours ago
- Business
- Business Standard
Zee Entertainment Q1 results: Net profit rises 21.7% to ₹143.7 crore
Zee Entertainment Enterprises (ZEEL) reported a consolidated net profit increase of 21.7 per cent to Rs 143.7 crore in the April-June quarter, compared to the same quarter last year. This growth was primarily due to the absence of restructuring costs following the failure of the Zee-Sony merger. In Q1FY25, ZEEL had incurred restructuring costs of Rs 28.6 crore after the Zee-Sony merger did not go through. The net profit in Q1FY26 also includes gains from the company's portfolio rationalisation initiative and the treatment of Margo Networks as a discontinued operation. Margo Networks had incurred a loss of Rs 7.6 crore in Q1FY25. On a sequential basis, the company's net profit declined by 23.7 per cent in the April-June quarter. The Mumbai-based broadcaster's revenue from operations decreased by 14.3 per cent to Rs 1,824.8 crore in Q1FY26, on a year-on-year (YoY) basis. ZEEL's other income rose by 31.6 per cent to Rs 25 crore for the quarter ended June 30, compared with the same quarter last year. The company's advertising revenue fell by 17 per cent to Rs 758.5 crore YoY in the April-June quarter. This decline was attributed to an extended sports calendar and a slowdown in FMCG (fast-moving consumer goods) spending, as per its investor presentation. 'The increase in digital subscription revenue was offset by a decline in linear subscription revenue due to a fall in PayTV subscribers. Other sales and services (down 64 per cent to Rs 84.6 crore YoY) declined due to lower theatrical and syndication revenue,' the company stated in its presentation. Its profit before interest, depreciation, and tax (PBIDT) decreased by 8.8 per cent to Rs 264 crore for the quarter ended June 30, compared with the same quarter last year. Meanwhile, the total revenue of ZEE5, the company's streaming platform, increased by 30 per cent to Rs 290 crore in the April-June quarter, on a YoY basis. ZEE5 also saw a Rs 111.9 crore reduction in its EBITDA (earnings before interest, taxes, depreciation, and amortisation) in Q1FY26, compared with the same period last year. During this quarter, the platform released 17 shows and movies, including five original productions. 'Accelerating growth, profitability, and cash generation continue to remain our priority, and this will further be driven by the new initiatives we are working on," said Mukund Galgali, Deputy Chief Executive Officer (CEO) and Chief Financial Officer (CFO) of ZEEL, in the company's investor call. He added, 'Within the music business, our profitability continues to remain fairly healthy, and we are further diversifying our catalogue into other language markets.' 'Over the last couple of quarters, the team has put in significant efforts to enhance our content offerings in every market," said Punit Goenka, CEO of ZEEL, during the investor call. "I am pleased to share that we are beginning to witness positive momentum in this direction, with our linear viewership share touching 16.8 per cent in Q1, further fortifying our position as a strong player in the industry. In fact, during the month of June itself, we clocked a viewership share of 17.8 per cent, which is nearly a two-year high.'
Business Standard
5 hours ago
- Business
- Business Standard
Zee Entertainment drops after Q1 PAT slumps 24% QoQ to Rs 144 cr
Zee Entertainment Enterprises declined 5.07% to Rs 134.70 after the company's consolidated net profit from continuing operations dropped 23.81% to Rs 143.7 crore on 16% decline in operating revenue to Rs 1,824.8 crore in Q1 FY26 over Q4 FY25. On year on year (YoY) basis, the companys net profit from continuing operations and operating revenue each jumped 14% in Q1 FY26. Profit before tax (PBT) jumped 9.62% YoY to Rs 197.2 crore in Q1 FY26. EBITDA declined 16% to Rs 228 crore in Q1 FY26 compared with Rs 271.6 crore in Q1 FY25. EBITDA margin contracted to 12.5% in Q1 FY26 as against 12.7% in Q1 FY25. For Q1 FY26, advertising revenue was Rs 758.5 crore (down 17% YoY), subscription revenue was Rs 981.7 crore (down 1% YoY) and revenue from other sales & services was Rs 84.6 crore (down 64% YoY). Domestic advertising revenue declined by 19% YoY for the quarter due to extended sports calendar, and slowdown in FMCG spending. The company stated that increase in digital subscription revenue was offset by decline in linear subscription revenue due to fall in PayTV subscribers. Zee Entertainment Enterprises (ZEEL) is a media & entertainment company offering entertainment content to diverse audiences. It is present across broadcasting, movies, music, digital, live entertainment, and theatre businesses, both within India and overseas.
News18
7 hours ago
- Business
- News18
Zee Entertainment Enterprises Q1 net profit rises 22 pc at Rs 143.7 cr
New Delhi, Jul 22 (PTI) Zee Entertainment Enterprises Ltd on Tuesday reported a 22 per cent increase in consolidated net profit at Rs 143.7 crore in the first quarter ended June 30, 2025, on the back of improved network viewership, healthy performance of its digital segment and lower expenses. The company had posted a consolidated net profit of Rs 118.1 crore in the corresponding quarter last fiscal. In the same period, an exceptional item outgo of Rs 28.5 crore was incurred, Zee Entertainment Enterprises Ltd (ZEEL) said in a regulatory filing. Consolidated total income in the first quarter stood at Rs 1,849.8 crore as against Rs 2,149.5 crore in the same period a year ago, it added. Total expenses in the first quarter were lower at Rs 1,652.7 crore as compared to Rs 1,941.1 crore in the corresponding period last fiscal, ZEEL said. In an investor presentation, the company said it maintained profitability despite macro-headwinds in the first quarter on the back of improved network viewership aided by language market performance along with continued healthy performance in the digital segment. It, however, said domestic advertising revenue declined by 19 per cent Y-o-Y for the quarter due to extended sports calendar, and slowdown in FMCG spending. 'Domestic advertising environment continues to be soft, healthy monsoon and festive pick-up augurs well for the near future," it noted. Increase in digital subscription revenue was offset by decline in linear subscription revenue due to fall in PayTV subscribers, ZEEL said. PTI RKL DR DR view comments First Published: July 22, 2025, 17:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
4 days ago
- Entertainment
- Time of India
Media Moves: Indian cinema's ascent, Gen Z engagement, and evolving ad models
Welcome to your weekly dose of insights from the dynamic world of media and entertainment. In this edition, we delve into whether Indian cinema's recent strong performance signifies a lasting comeback, explore how brands are effectively engaging Gen Z through authentic outdoor campaigns, examine ZEEL 's innovative hybrid content strategy to boost viewer engagement, and look at Flipkart's new advertising model designed to ease ad spending risks for sellers. Let's find out more Is Indian cinema's resurgence a blockbuster or a cameo? Indian cinema is experiencing a significant revival, moving past the uncertainties of the pandemic to achieve robust box office results. This resurgence is largely attributed to compelling content and the irreplaceable communal experience of watching films in theatres, with the industry possibly approaching pre-pandemic consumption levels. Read more.. Why you should care: For stakeholders across the media and entertainment spectrum from filmmakers and distributors to exhibitors and investors this signals a healthy recovery and substantial growth potential. It suggests a renewed audience appetite for cinematic releases and offers crucial insights into the evolving landscape of film consumption. Marketing to Gen Z in the wild: Why authenticity works better outdoors This article examines how brands are successfully connecting with Gen Z audiences through authentic outdoor advertising. It suggests that traditional marketing tactics are less effective with this demographic, who value genuine engagement and experiences, particularly in out-of-home settings. Click here to know more.. Why you should care: This is vital for marketers and advertisers keen to reach a discerning Gen Z audience. It underscores the importance of authenticity and innovative outdoor strategies that resonate with a generation known for its digital fluency but also its appreciation for real-world interactions. Hybrid content model: ZEEL blends cinema with GEC for enhanced viewer stickiness ZEEL has strategically adopted a hybrid content model, rebranding to 'Z' and launching innovative hybrid channels like Zee Power and Zee Bangla Sonar. This approach merges cinematic content with General Entertainment Channels (GEC) programming to significantly enhance viewer engagement and improve profitability. Find out more.. Why you should care: This is a vital blueprint for broadcasters and content creators, showing how to adapt to changing consumer demands, diversify content, and boost ad revenue in today's competitive media landscape. Flipkart takes the risk out of ad spending for sellers with new 'Pay Later' model Flipkart has introduced an "Advertise Now, Pay Later" (ANPL) model, which aims to alleviate the financial burden on sellers by allowing them to run ad campaigns without upfront costs. This system uses predictive algorithms, charging sellers only when their advertisements lead to incremental sales, thereby democratising advertising and fostering long-term brand value. Read here.. Why you should care: This innovation is highly significant for the digital advertising and e-commerce sectors within media and entertainment. By shifting the advertising risk from sellers to the platform and focusing on performance-based payments, the ANPL model could revolutionise how advertising evolves across digital platforms. Read more Pitch Perfect: Startup-themed content takes centre stage on TV and OTT Streaming platforms shift from dark thrillers to family-friendly stories to woo small-town India Popularity of re-releases shows that audiences want old school films IPL valuation jumps nearly 13% to $18.5 billion on strong media deals, fan growth Apple reportedly bids $150M for annual F1 streaming rights in US And that's a wrap on this week's tour of the media and entertainment landscape. We trust these insights sparked new ideas and offered valuable takeaways. We'd love to hear your thoughts! Connect with us on LinkedIn and tag @ETBrandEquity to share your perspective. Don't miss our next edition for more essential updates shaping the industry. See you next Friday -Team ETBrandEquity
