Latest news with #PunitGoenka
Broadcast Pro
11-06-2025
- Business
- Broadcast Pro
Zee Entertainment unveils transformation into content and technology powerhouse
As part of this strategic transformation, the company unveiled a new and dynamic brand universe for its next phase of growth. Zee Entertainment Enterprises Ltd. ('Z') has announced a significant transformation, repositioning itself as a cutting-edge Content and Technology Powerhouse with a renewed focus on delivering premium content and immersive consumer experiences across entertainment platforms. This strategic pivot reflects the Company's forward-looking vision, as it seeks to drive enhanced performance, profitability, and sustainable growth through innovation and digital integration. In a bold step marking this transformation, Zee introduced a dynamic new brand universe aimed at propelling the company into its next phase of growth. This brand refresh encapsulates Zee's strong ambitions for the future, underpinned by its commitment to continuous innovation and value creation. With a modern design and futuristic appeal, the brand embodies the spirit of a young and emerging India—ambitious, agile, and optimistic. The redesigned identity reflects the Company's deep-rooted legacy, innovative mindset, and future-ready approach, reinforcing its long-standing relationship with consumers over the past three decades. Through this evolution, Zee aims to inspire trust and deliver rich, meaningful entertainment experiences globally, while integrating advanced technology across its content creation, distribution, and monetisation ecosystems. The unveiling of the new brand universe took place during the Zee Cine Awards 2025, with CEO Punit Goenka leading the launch in the presence of industry stalwarts and stakeholders. As part of this strategic rollout, all Zee channels and platforms officially adopted the new branding on June 7, 2025, coinciding with the televised event. Sharing his thoughts on the new brand universe, Punit Goenka, CEO, Zee Entertainment Enterprises Ltd. said: 'As we embark on a phase of growth backed by a robust focus on content and technology, the new look envisioned for the Company is futuristic, dynamic and agile; which is a firm representation of our team's capabilities to capitalize on the emerging opportunities. It also reflects our commitment to embrace emerging technologies to enhance the overall consumer experience. The new brand universe underscores our bold spirit and resolve to remain agile and adaptive in a fast-evolving landscape. Our brand promise of 'Yours Truly, Z' reflects the Company's consumer-centric approach and its commitment to consistently deliver meaningful entertainment experiences. The brand pillars have been crafted in line with our rich value system, and will serve as our north star, guiding the Company in achieving the targeted aspirations to build a robust growth trajectory for the next century. We firmly believe this new approach exemplifies our relentless pursuit for excellence by taking accountability for results and innovating to deliver purposeful business outcomes.' Amit Goenka, President, Zee International, Digital Business & Platforms, remarked: 'This new chapter in Z's journey reflects our ambition to lead the next era of global entertainment. By blending creativity with cutting-edge technology, we are unlocking new possibilities across markets, delivering content that resonates across borders and generations.' In the letter written to its valuable viewers, 'Z' expressed: 'I promise to make you laugh louder, dream bigger and feel more deeply in every moment and through every experience. After all, life is not about counting the beats of your heart, but counting the moments that make your heart beat!' Expressing gratitude towards the employees, 'Z' said, 'The magic that we bring alive together is unmatched. But the most beautiful part of our story is not what we have achieved together, but the journey we have undertaken to achieve it. You are not just a part of this journey; you are the journey. Let us keep narrating stories that matter, creating moments that last and shaping a future that shines as brightly as you do!' The new brand design incorporates vibrant hues and a cohesive visual identity that captures India's cultural richness while embracing a global outlook. This visual transformation supports the brand's architecture, resonating deeply with audiences across languages and regions. Zee's transformation is anchored by three core pillars: Purpose, Vision, and Mission. Its stated purpose is 'to enrich the lives of people around the world by creating extraordinary moments, which celebrate the power of optimism and togetherness.' The vision reflects a drive to 'bring about a positive change in people's lives through purposeful entertainment,' while the mission commits to 'creating value for all stakeholders with a sharp focus on delivering world-class infotainment.' With over 30 years of legacy as a pioneering Indian media brand, Zee is reaffirming its leadership role in the entertainment sector. By enhancing capabilities across its business and integrating innovative technology into its operations, Zee is positioning itself at the forefront of a rapidly evolving industry, set to redefine the future of entertainment on a global scale.
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Business Standard
10-06-2025
- Business
- Business Standard
Over 500k cable TV jobs lost in India as OTT eats into market: Report
The cable television industry in India experienced a sharp contraction over the past seven years, with an estimated 577,000 jobs lost between 2018 and 2025. The downturn coincides with a steady decline in subscriber numbers, driven by changing consumer habits and intensified digital disruption. These insights were released by the State of Cable TV Distribution in India report on Monday, published jointly by the All India Digital Cable Federation (AIDCF) and EY India. According to the report, pay-TV households fell from 151 million in 2018 to 111 million in 2024, with projections suggesting this number could decline to between 71 million and 81 million by 2030. This 40 million drop in subscriptions was attributed to rising channel prices, increased competition from OTT platforms, and the growing popularity of free-to-air options such as the government-backed DD Free Dish. Revenue, Ebitda fall as cable TV operators shut shop Financially, the sector has also struggled. The combined revenue of four major direct-to-home (DTH) operators and ten leading multi-system operators (MSOs) fell to ₹21,500 crore in FY24 from ₹25,700 crore in FY19, a decline of more than 16 per cent. Over the same period, earnings before interest, taxes, depreciation, and amortisation (Ebitda) dropped 29 per cent to ₹3,100 crore from ₹4,400 crore. The job losses have hit local cable operators (LCOs) especially hard. Based on responses from over 28,000 LCOs across 34 states and Union Territories, the State of Cable TV Distribution in India report found that their workforce has shrunk by 31 per cent, resulting in nearly 38,000 job losses. On a national level, the number of LCO-related jobs lost is estimated to be between 114,000 and 195,000. Combined with the closure of approximately 900 MSOs and 72,000 LCOs since 2018, the cumulative job loss exceeds 577,000. Decline in pay-TV households in India Sector is resilient but need policy support Despite these challenges, industry leaders are cautiously optimistic. Executives such as Uday Shankar (JioStar), Punit Goenka (Zee Entertainment), and Gaurav Banerjee (Sony Pictures Networks India) argue that linear television continues to be resilient. They cite the 85 to 90 million households still paying for TV services as a sign of untapped potential, especially among DD Free Dish users and homes in media-dark regions. Ashish Pherwani, partner at EY India, said nearly 100 million homes in India still do not have cable or satellite TV, a gap that could be bridged with low-cost plans and affordable set-top boxes. But in many regions, especially near borders, affordability remains a hurdle. 'This is the first report to truly reflect the realities on the ground,' he said, urging policymakers to treat it as a basis for targeted intervention. Reforming the industry: Pricing, set-top boxes and more To address the crisis, the report recommends reforms, including: Enabling a level playing field across all content distribution platforms — cable TV, DTH, HITS, and IPTV. Allowing regional pay-TV pricing based on local affordability. Reactivating over 20 million dormant set-top boxes. Restricting free or delayed broadcast of pay-TV content on alternative platforms. Forming a unified front to curb piracy, which costs the media sector over ₹20,000 crore annually. Cable TV sector: Shrinking base, rising costs At the ground level, the picture remains stark. Some 93 per cent of LCOs reported a decline in subscribers since 2018, with nearly half noting a drop in monthly income. Over a third said they had lost more than 40 per cent of their subscriber base. LCOs highlighted several operational hurdles, including their inability to raise customer fees amid rising input costs. The growing migration of viewers to OTT services, DD Free Dish, and smart TVs, along with concerns over the declining quality of television content, has further strained their viability. Additionally, fewer households are now subscribing to multiple TV connections. As SN Sharma, CEO of DEN Networks and AIDCF President, said, the collapse of small cable operations isn't just a business issue; it has wiped out incomes for thousands of families who depended on them. 'It's not just statistics — these are stories of lost livelihoods and disrupted entrepreneurship,' he said, urging regulators and broadcasters to act before the ecosystem erodes further.
Economic Times
09-06-2025
- Business
- Economic Times
Sharp decline in pay-TV subscriptions leads to 577,000 job losses: Study
Mumbai: India's cable television industry has undergone a significant contraction over the past seven years, with an estimated 577,000 cumulative job losses between 2018 and 2025, driven largely by a sharp decline in pay-TV subscribers, according to a report released on Monday. Pay-TV subscriber base dropped from 151 million in 2018 to 111 million in 2024 and is expected to fall further to between 71-81 million by 2030, said the report, 'State of Cable TV Distribution in India', jointly prepared by the All India Digital Cable Federation (AIDCF) and EY India. It attributed the decline to rising channel costs, increased competition from over-the-top (OTT) platforms, and the growing popularity of free, unregulated services such as DD Free revenues of four direct-to-home (DTH) players and ten major cable TV providers, or multi-system operators (MSOs), have declined by more than 16% since 2018, while their margins have reduced by 29%, the report FY19, their combined revenue stood at ₹25,700 crore, which dropped to ₹21,500 crore in FY24. Combined Ebitda fell to ₹3,100 crore in FY24 from ₹4,400 crore in FY19. The study drew inputs from 28,181 local cable operators (LCOs) across 34 states and union LCO workforce has been severely affected, with surveyed operators reporting a 31% drop in employment, representing a loss of 37,835 jobs. When extrapolated to the national level, this translates into job losses ranging from 114,000 to 195,000 across various operational addition, closure of approximately 900 MSOs and 72,000 LCOs since 2018 has contributed to the overall job loss figure of 577,000, the report these challenges, industry leaders remain cautiously vice-chairman Uday Shankar, Zee Entertainment chief executive officer Punit Goenka, and Sony Pictures Networks India CEO Gaurav Banerjee have, in recent times, reiterated their belief in the resilience and growth potential of linear have noted that 85-90 million Indian households still pay for television subscriptions, indicating scope for expansion by converting DD Free Dish viewers into paying customers and reaching media-dark regions.'Despite the challenges, the industry still has room to grow, provided corrective steps are taken by the broadcasters, distributors and policymakers,' said Ashish Pherwani, partner and media & entertainment leader at EY highlighted the opportunity to bring an estimated 100 million cable-dark homes into the fold through affordable subscription plans, as well as lower-cost televisions and set-top boxes (STBs). He also advocated government support in the form of hardware subsidies and free STB distribution, particularly in sensitive and border ensure a level playing field, the report called for regulatory parity across all content distribution platforms, including cable TV, DTH, headend-in-the-sky (HITS), and internet protocol television (IPTV).It also recommended allowing differential pricing for pay-TV services based on regional affordability and called for reactivation of more than 20 million inactive STBs — referring to subscribers who have not renewed their report also recommended restricting the free or delayed broadcast of pay-TV content on other platforms and emphasised the need for a unified industry response to tackle is estimated to cost the media and entertainment sector over ₹20,000 crore the grassroots level, the findings present a concerning picture. Since 2018, 93% of LCOs — that serve as the key link between MSOs and end customers — have reported a decline in their subscriber half said their monthly income has fallen, while more than one-third have experienced subscriber losses exceeding 40%.Operators cited their inability to raise customer tariffs in line with rising channel costs as a significant challenge. Other issues include migration of viewers to DD Free Dish, OTT platforms, and connected TVs; a perceived decline in content quality on linear television compared to OTT offerings; and a reduction in second television set connections within households.
Time of India
09-06-2025
- Business
- Time of India
Sharp decline in pay-TV subscriptions leads to 577,000 job losses: Study
Mumbai: India's cable television industry has undergone a significant contraction over the past seven years, with an estimated 577,000 cumulative job losses between 2018 and 2025, driven largely by a sharp decline in pay-TV subscribers, according to a report released on Monday. Pay-TV subscriber base dropped from 151 million in 2018 to 111 million in 2024 and is expected to fall further to between 71-81 million by 2030, said the report, 'State of Cable TV Distribution in India', jointly prepared by the All India Digital Cable Federation ( AIDCF ) and EY India. It attributed the decline to rising channel costs, increased competition from OTT platforms and growing popularity of free, unregulated services such as DD Free Dish. Cumulative revenues of four DTH players and 10 major cable TV providers, or multi-system operators (MSOs), have declined by more than 16% since 2018 while their margins have reduced by 29%, the report said. In FY19, their combined revenue stood at ₹25,700 crore, which dropped to ₹21,500 crore in FY24. Combined Ebitda fell to ₹3,100 crore in FY24 from ₹4,400 crore in FY19. The study drew inputs from 28,181 local cable operators (LCOs) across 34 states and union territories. The LCO workforce has been severely affected, with surveyed operators reporting a 31% drop in employment, representing a loss of 37,835 jobs. When extrapolated to the national level, this translates into job losses ranging from 114,000 to 195,000 across various operational tiers. In addition, closure of approximately 900 MSOs and 72,000 LCOs since 2018 has contributed to the overall job loss figure of 577,000, the report said. Despite these challenges, industry leaders remain cautiously optimistic. JioStar vice chairman Uday Shankar, Zee Entertainment chief executive officer Punit Goenka, and Sony Pictures Networks India CEO Gaurav Banerjee have, in recent times, reiterated their belief in the resilience and growth potential of linear television.
India Gazette
19-05-2025
- Business
- India Gazette
Zee unveils its new brand image 'Z', to roll out from June 8
New Delhi [India], May 19 (ANI): As part of its strategic transformation, ZEE Entertainment Enterprises Ltd. ('Z') has unveiled a new brand universe for its next phase of growth. As part of it, Zee has changed its brand to 'Z'. The new brand universe was unveiled by the CEO, Punit Goenka, at the Company's marquee event, ZEE Cine Awards 2025, amid the industry's glitz and glamour. The corporate brand embraced its new identity with an enthralling unveiling in the presence of its stakeholders. In line with its consumer-focused approach, all the company's channels and platforms will embrace the new brand universe on June 8, 2025, during the telecast of the ZEE Cine Awards. Sharing his thoughts on the new brand universe, Punit Goenka, CEO of ZEE Entertainment Enterprises Ltd, said, 'As we embark on a phase of growth backed by a robust focus on content and technology, the new look envisioned for the Company is futuristic, dynamic, and agile. This is a firm representation of our team's capabilities to capitalise on emerging opportunities. It also reflects our commitment to embrace emerging technologies to enhance the overall consumer experience.' 'Our brand promise of 'Yours Truly, Z' reflects the company's consumer-centric approach and its commitment to deliver meaningful entertainment experiences consistently. The brand pillars have been crafted in line with our rich value system, and will serve as our north star, guiding the Company in achieving the targeted aspirations to build a robust growth traiectory for the next century. We firmly believe this new approach exemplifies our relentless pursuit of excellence by taking accountability for results and innovating to deliver purposeful business outcomes,' Goenka added. Zee, in a statement, said it aims to transform itself into a content and technology powerhouse, offering premium quality content and an immersive consumer experience across entertainment platforms. In line with its futuristic approach, the company said it is taking bold steps to realise its long-term growth aspirations to enhance performance and profitability. 'The company will identify and create value-accretive opportunities that seamlessly amalgamate technology across all functions, including content creation, distribution and monetisation,' the statement read. According to the company, the new design aims to inspire trust and deliver meaningful entertainment experiences to consumers across the globe. The cutting-edge design further leverages the power of 'Z' in its adaptive and dynamic expressions across all platforms. The approach reflects the company's synonymity with 'Z' and its strong consumer connect established over the last three decades. In a letter to its valuable viewers, 'Z' expressed, 'I promise to make you laugh louder, dream bigger, and feel more deeply in every moment and through every experience.' 'Yours Truly, Z' will come to life in diverse languages on the company's platforms across markets, reiterating the brand's commitment to viewers. (ANI)
