Zee will launch a new GEC towards the end of FY15, says Punit Goenka

MUMBAI: The delay in digitisation of phase III and IV markets has got even the industry giants to speak up. And adding to the list is ZEEL MD and CEO Punit Goenka who feels that the delay in digitisation will invariably have negative impacts on the overall industry.

In an interview with CNBC-TV18’s as part of the IDFC Annual India Conference, Goenka spoke about the delay in digitisation, a new GEC launch and his expectations from the advertising revenue in FY15.

 “The growth levels have slowed down for the industry and therefore for us, as well. The consumer billing has not started to happen the way it was envisaged. All this is having a negative impact on the overall industry,” he said.

When asked if the delay caused a drop in subscription revenues, Goenka explained that the dip in subscription revenues was mostly due to some accounting changes.

He elaborated, “The dip is largely on account of some accounting changes that we have had since the aggregate of paper that came out of TRAI. Like-for-like, these are flat or just low single digit kind of growth but as I said, it is attributable to the ongoing delay in the digitisation process. But I do expect that this will pick up hopefully in the next fiscal itself.”

Goenka also revealed that Zee Entertainment plans to launch a new Hindi general entertainment channel (GEC) towards the end of FY15.

“It will be in line with the cost structures of any other GEC because it is a mainstream GEC launch competing with the current incumbent players in the market. So, it will not be very different from those,” he said.

Speaking about the sports business, Goenka explained that the losses seen in the sports business were envisaged by the company and they had guided that the losses would be similar to that seen last year.

Goenka added that he expects advertising revenues to see 11-12 per cent growth in FY15 as from 8-9 per cent seen in earlier two fiscals. He said, “We have seen some improvement in the ad spends especially during the first half of the year. I do expect that the advertising revenues will be seeing healthy numbers from 8-9 per cent that we have been seeing over the past few years to 11-12 per cent.”

Latest Reads
SPN obtains Delhi HC injunction order to protect copyright of India-England cricket series

Sony Pictures Networks (SPN) has obtained a Dynamic John Doe injunction order from the Delhi high court to prevent copyright infringement for the India-England international cricket series in July. This will protect SPN against unauthorised and illegal IP disclosure on the internet and other social...

Television TV Channels Sports
Zee TV rolls out 360-degree campaign for its reality show DID Super Moms 3

Mumbai: Over the last three decades, Zee TV has been a pioneer in shaping the contours of reality television in India, introducing audiences to homegrown non-fiction formats like Sa Re Ga Ma Pa, Dance India Dance, and India’s Best Dramebaaz. These properties have not only emerged as immensely...

Television TV Shows Reality
Colors Tamil is all set for the world television premiere of RK Nagar

Mumbai: Entertainment channel Colors Tamil has announced the world television premiere of "RK Nagar" on 3 July at 2:00 pm. An entertaining tale set in a world of crime is here to grapple audiences by exploring plots around politics, romance, and buckets of drama and humour.

Television TV Channels Regional
Zee Media CEO Sudhir Chaudhary quits to pursue entrepreneurial venture

News broadcaster Zee Media on Friday said its chief executive officer Sudhir Zee Media CEO Sudhir Chaudhary quits to pursue entrepreneurial venture.

Television TV Channels News Broadcasting
TCH 2022: Language no barrier to consume South content, only quality

Mumbai: The unending reservoir of talent emerging from the South across languages like Malayalam, Telugu, Tamil and Kannada indicates that language is no longer a barrier in the consumption of content, only quality. Experts discuss the implications of the South content market boom at Viacom18...

Television TV Channels Viewership
TCH 2022: How can Indian content woo the world?

Indian cinema and entertainment has been gradually gaining a share in the global market, with audiences around the world being more receptive to Indian content now than they have been in the past. Spurred, no doubt, in part due to the increased accessibility of the content on online streaming...

Television TV Channels Viewership
NDTV elevates Parimal Dutta to senior vice president

Mumbai: NDTV has elevated Parimal Dutta as senior vice president. He has been associated with the company for over 11 years. He leads the brand solutions team at the news broadcaster. During his career spanning 23 years, Dutta has been associated with The Times of India, Star India, CNBC and...

Television TV Channels Viewership
Colors Tamil to telecast new fiction show 'Pachakili' on 4 July

Mumbai: Exploring marital values, familial bonds and sibling relationships, Colors Tamil, is all set to premiere Pachakili, a brand-new fiction show, starting 4 July.  Based on the life of a naive village belle Pachakili (played by Actor Monisha Arshak) and Adithya (played by Actor Kishore), the...

Television TV Channels Regional
Cosmos-Maya to invest $50 mn to expand into Europe and North America

Mumbai: Indian animation company, Cosmos-Maya, is planning global expansion and aims to grow five fold in the next three years. The company has drawn up a blueprint to scale up in new geographies with an investment in the range of $50 million, expanding in the Europe Union and establishing a...

Television TV Channels News Broadcasting