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Zee Entertainment's ad revenue declines 8.4% in Q3, hit by FMCG ad budget constraints
According to the Q3 result of Zee Entertainment, the company's ad revenue stood at Rs 940.6 crore in Q3 FY25 compared to Rs 1,027.4 crore in the corresponding quarter of the last fiscal year
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Zee Entertainment's ad revenue declined by 8.4 percent year-on-year due to continued strain in ad demand from constrained FMCG ad budgets and an incremental shift to digital ad mediums by brands.
According to the Q3 result of Zee Entertainment, the company's ad revenue stood at Rs 940.6 crore in Q3 FY25 compared to Rs 1,027.4 crore in the corresponding quarter of the last fiscal year.
In the nine-month period of FY25, the ad revenue of the company witnessed a 7 percent fall. In 9M FY25, ZEEL ad revenue stood at Rs 2,753.6 crore compared to Rs 2,947.5 crore in 9M FY24.
While ZEEL aims to boost ad growth by tapping other sectors, Elara Capital's Karan Taurani said it may aid only partial recovery given that FMCG will continue to hit ad growth and only urban-led demand pick-up may improve growth materially.
For Zee Music, YouTube video views declined 7.5% QoQ to 43 billion. The total subscribers stood at 160 million in Q3, up 9.58 percent YoY.
However, the company posted a three-fold rise in profit driven by linear subscription revenue and ZEE5 growth. ZEEL's profit climbed 180 percent YoY to Rs 164 crore in Q3 FY 25. However, the operating revenue of the company declined 3 percent YoY to Rs 1,979 crore.
On a sequential basis, ZEEL's net profit fell 22 percent from Rs 209 crore reported in Q2 FY 25.
The company's subscription revenue stood at Rs 86.6 crore.
The shares of Zee Entertainment declined 2.29 percent to Rs 117.99 a piece on Friday at 11.24 am.
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