Zee Plans To Shut Down Some of Their Channels

The COVID pandemic has put a stop to business and sales all around the world. Advertising agencies have also seen a great drop in their revenues and the digital industry has seen a boom in their business but it also led to shutting down some channels due to lesser revenue.

Zee Entertainment Enterprise has announced that it will shut down some of the channels due to this changing market conditions. “We constantly re-evaluate our portfolio of content offering that’s out there, whether in linear form or digital form. And we have taken certain decisions in the international markets for the shutdown of linear channels. Similar things we are evaluating even in the domestic market, and you may see some announcements coming in the current fiscal,” said Punit Goenka, MD, and CEO of Zee Entertainment Enterprises.

People are now shifting to digital platforms like Hotstar, Netflix, Amazon Prime, and so on as they offer new and entertaining content in their platforms during this lockdown. The main reason for the attraction is its vast content and the quality they offer.

He said that they invest 7% of their revenue in Zee5, their OTT platform, and that audiences don’t evaporate, they just shift from one platform to another. The profit they earn in Zee5 is much more considerable compared to their channels and also said that it wouldn’t affect them in their long term or short term process.

“I do not see them [the 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,” confirmed Goenka.