Thursday 22 May 2014

ZEEL to invest 100 cr for new channel

Zee Entertainment Enterprises Ltd (ZEEL) will invest 100 crore to launch a second Hindi general entertainment channel, Zindagi.
In 2007, the Subhash Chandra-promoted network had launched a Hindi GEC, Zee Next, which was shut down within a year.
With the launch of Zindagi, it would also increase the content cost by nearly 15 per cent as Zindagi would have shows written by overseas authors and produced in places such as Pakistan and Latin America.
The network is also looking forward to attracting a new set of ‘premium’ advertisers, who may not have used the mass Hindi GEC genre in the past.
Today, the bulk of TV advertising is skewed towards the mass Hindi GEC channels.
Last year, the network invested 150 crore on new channels such as Zee Anmol and Pictures, and digital verticals to increase revenue in a fragmented market.
But a cap on advertising inventory is making even its competitors like Star and Sony resort to new channels.
Last year, with the cap on advertising, most TV networks were forced to raise ad rates by nearly 30 per cent for their Hindi GEC channels.
ZEEL has been trying to reduce its dependency on advertising revenue and is seeking new revenues from the digital space, where it has a host of brands.
Besides, there is growth in international subscription revenues at 16 per cent today compared to ad income, which has slowed down to 9-11 per cent for ZEEL.

Source: http://cablequest.org/news/national-news/item/4911-zeel-to-invest-100-cr-for-new-channel.html
Source: http://cablequest.org/news/national-news/item/4911-zeel-to-invest-100-cr-for-new-channel.html

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