ZEEL to invest 7% of profits into ZEE5
August 4, 2020
By Chris Forrester
Subhash Chandra’s Zee Entertainment Enterprises (ZEEL) looks set to commit 7 per cent of its operating profits (EBITDA) into its growing ZEE5 streaming service.
Punit Goenka, MD at ZEEL, says that the company is not concerned about closing some specialty channels because audiences are shifting to streaming services.
Addressing the changes in strategy, Goenka said: “I do not see shutdown of niche channels having a long-term impact on our subscription revenue, because with regard to any loss there, the gains we will see on our digital platforms will be far higher”.
“At the end of the day, the audience doesn’t evaporate. The audience has moved from one platform to another. Therefore, we will get our share of that niche content on our digital platform,” he added.
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