ZEE Entertainment Enterprises: Zee’s special committee asks verticals to cut down losses

ZEE Entertainment Enterprises (Zee) board has created a structured Monthly Management Mentorship (3M) Program to guide the management team to achieve key performance metrics, including the target of 20% EBITDA margin by cutting down losses from five business verticals.

The 3M Program Special Committee has advised business verticals like Margo Networks (Sugarbox), Teleplay & Zindagi, Hipi, Weyyak, and English Cluster of Linear TV Business to substantially reduce losses and enhance their performance levels.

The special committee, which comprises chairman R Gopalan and Audit Committee chairman Uttam Prakash Agarwal, has also asked the management to reduce the Technology and Innovation Centre (TIC) expenditure by 50% for FY25. Zee incurred an expenditure of approximately Rs. 600 crore on the TIC last year.

“After completing a detailed set of 33 meetings with various business verticals, corporate functions, and leaders of the management team; our confidence and belief in the potential of the Company to deliver the targeted results, has certainly strengthened. Under the able leadership of Mr. Punit Goenka as the MD & CEO of the Company, the businesses are well-aligned and focused towards the set goals for the future,” he stated.

The 3M Program Special Committee has also reviewed the Music Business of the Company and has advised its leadership team to enhance the monetization avenues and subsequently increase the vertical’s contribution to the Company’s bottom line. It has also advised that the Music Business should focus on further optimizing its costs, without losing its leadership position in the market.

 

Reference

Denial of responsibility! My Droll is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
DMCA compliant image

Leave a Comment