The platform, which had only recently announced 11 original series in Telugu as part of its aim to cater to multiple languages in the nation, is also making investments in the amount of “hundreds of crores” this year for the purpose of content production.
Taking advantage of the momentum it has built up over the course of the past two years during the Covid pandemic, which acted as a catalyst for people to explore content online, the indigenous video streaming platform ZEE5 is aiming for high double-digit to triple-digit revenue growth this year. According to a top company official, the company will achieve this goal by riding on the momentum it has built up over the course of the last two years.
The platform, which had only recently introduced 11 original series in Telugu as part of its aim to cater to multiple languages in the nation, is also making investments in the amount of “hundreds of crores” this year for the purpose of content production.
When questioned about ZEE5’s chief business officer’s hopes for the company’s revenue growth for this year, PTI cited Manish Kalra’s response that, “We have enormous objectives and want to guarantee that we are reaching high double-digit or triple-digit growth this year as well.”
ZEE5’s revenue reached 549.6 crore at the end of the fiscal year 22 (FY22), representing a 31% increase from 419.1 crore at the end of the previous fiscal year (FY21).
He responded, “There is an opportunity and there’s intent for consumers to consume content online and more and more of them are coming…” when asked to explain the reasons why the firm is so positive.
Additionally, as Kalra pointed out, there is “an insatiable need on our part to produce content and to supply consumers with the appropriate sort of content. At the moment, we work in an industry that is both rapidly expanding and extremely lucrative, and we aim to continuing expanding greatly in the future as well.”
Concerning the effects of COVID-19, he stated that “People were prompted to explore stuff online with gamers like us as a result of the epidemic, which served as a trigger. We were able to develop content of a high quality that was unique to our site and could not be found anyplace else. The change took place, and as a result, we were given the chance to attract an increasing number of viewers to begin consuming our material. This was possible because these viewers had found a treasure trove of high-quality content that was only accessible through OTT platforms.”
When questioned about investments, he responded with the following: “We can’t reveal absolute amounts, but I can say that compared to last year, we’re hoping to invest 1.3 to – 1.4 times as much this year, depending on how well our content does.”
Kalra stated that ZEE5 is seeing strong growth with all of the launches that it has done and went on to say the following: “Therefore, the answer is that we do intend to increase our efforts and our revenue while also making the most of our potential. As a result of this, throughout the course of this year we will also be making enormous prospective investments, the amounts of which will range in the hundreds of crores.”
According to him, the goal is to provide for the various requirements of the customers and to make it possible for them to access the material of their choosing while remaining in the convenience of their own homes.
“In exchange for this, we will receive fresh material, sourced from higher-quality production companies, and great character arcs, all of which will be taken into consideration with the platform’s long-term interests in mind. We are pleased to be able to fulfil the requirements since we are rewarded when more and more customers subscribe to the platform, and this makes us happy “Kalra added.
He asserted that ZEE5’s strength is very much in Indian languages because it comes from the house of ZEE, and he said, “We understand the Indian diaspora and understand their aspirations and the kind of real, relatable content they like, and we have provided them with contents in Hindi, southern languages including Tamil, Telugu, as well as in Punjabi and Bangla.” ZEE5’s strength is very much in Indian languages because it comes from the house of ZEE.
According to him, the platform has been met with positive reception from viewers in southern India. He went on to say that the number of viewers and subscribers the platform has in southern India is comparable to that of Hindi viewers and subscribers.
When asked if the reopening of movie theatres will have an effect on the number of people watching videos online, Kalra responded, “I believe we will operate synergistically with movie releases and movie theatres.”
In addition, he elaborated by saying, “People go to theatres for a specific audience, but there is also an audience that prefers to watch content from the convenience of their own homes. We catered to this audience, which consists of individuals who want to watch content of high quality on their televisions while also benefiting from high-quality audio at home. Therefore, it appears that there is a synergistic interaction.”
In addition to this, Kalra mentioned that “we’re also seeing huge theatrical movies do very well on ZEE5 even after we’re distributing them after the traditional 30 to 60-day timeframe.”
In relation to the over-the-top (OTT) platform industry, he stated, “People are subscribing to various OTT services based on the material they hear about and the quality of the content they hear about. People are subscribing to many OTT services based on the content they hear about. As a result, there has been a general increase in the number of subscriptions purchased.”
According to him, content is the primary factor driving demand in this market sector “When we are able to generate content or movies of a high quality, consumers have the desire to consume media through a variety of over-the-top (OTT) platforms. Therefore, this is the point at which it becomes essential to provide the appropriate type of material to the appropriate type of customer.”