Media firm Zee Entertainment Enterprise Ltd (ZEEL) is focusing on strengthening its digital footprint in the global market as it senses a good opportunity in it.
As the global trends are emerging in favour of various digital platforms, the company is now intending to concentrate on the entire entertainment value chain of content creation from TV to films to live events, according to its annual report.
“The global media and entertainment industry is expected to grow at a CAGR of 4 per cent during 2015-18 to reach around USD 2.3 trillion. This may seem modest in relative terms but its absolute impact is significant… the share of various media is constantly getting recalibrated with digital growing at the fastest rate,” said ZEEL Chairman Subhash Chandra in the annual report.
He further said that the digital space is no longer about just viewing content on multiple devices only.
On-demand viewing patterns have resulted in newer content formats, crisper episodes and differentiated content packaging tailor-made to audience preferences.
“This is where our expertise of rightly gauging the audience pulse is being leveraged ensuring that rich, engaging and relevant content is offered to our viewers across the globe,” said Chandra.
According to Chandra, India will be at the cusp of the transformation in the entertainment industry as it has good growth rate with growing disposable incomes.
“However, the share of wallet that entertainment commands today is lower than the global average presenting a great opportunity for growth,” he said.
Moreover, increasing urbanisation coupled with the Phase III and IV digitisation of the home cable delivery system is ensuring better entertainment infrastructure and a more addressable and understandable TV audience across the country.
“ZEEL is proactively reorganising its operations focusing on newer delivery formats and ramping up its digital business in line with the changing dynamics of the operating environment,” he said. KRH MR
Zee Entertainment to Strengthen Digital Business
