Weakness in ad revenues persists; recovery expected to be gradual

Company
11 Mar 2024
5 Min read 
  • Zee Entertainment's 3QFY24 results showed a decline in revenue and EBITDA due to weakness in ad revenues.
  •  The company revised down its EBITDA/PAT estimates for FY25 due to slower recovery in ad revenues.
  •  The merger process with Sony has been called off, and the company's growth plans will be a key monitorable going forward.
  •  The company expects a gradual recovery in ad revenues and improved visibility in subscription revenues with the implementation of NTO 3.0.
  •  Zee5, the company's OTT platform, showed revenue growth and improved cost control.
  •  The company implemented a price increase across its bouquet and expects the investment in the OTT segment to have peaked.
  •  The target price for the stock is INR200/share, and the rating remains neutral.
Login / Open Demat Account to read the report

Never Miss Out on Hot Market Updates

Get exclusive market news delivered to your inbox - on priority