ZEEL MD and CEO Punit Goenka commented: “Films are one of the most important avenues of entertainment for Indian consumer and a key long-term growth driver. ZEEL’s strong presence across broadcast, digital and international businesses allows it to exploit movie rights better compared to its peers.”
He added: “We already offer 8 Hindi movie channels and 5 regional movie channels. We are now set to expand our regional movie business further and we intend to launch 3 new movie channels.”
At present, ZEEL’s OTT app ZEE5 has 3500+ movie library across 12 languages which creates a unique competitive advantage for it. Since its launch, ZEE5 has premiered 80+ movies across languages.
Goenka said: “This vast library also helps us build the popularity of our channels in international markets. We have taken a conscious decision to continuously invest behind the movie library and even other content whether it be for ZEE5, domestic market or even international markets. We will continue to see heightened investments but despite that, I’m confident that the EBITDA margin will remain at 30%+.”