Punit Goenka, managing director and CEO of Zee Entertainment Enterprises Ltd., announced strategic adjustments in the revenue vertical of the company’s broadcast division on Saturday.
Rahul Johri, President, Zee Entertainment Enterprises, has left the company following a three-and-a-half year tenure, as part of the development.
The chief growth officer of advertising revenue, Ashish Sehgal, who previously answered to Punit Goenka, will now report back to him. According to a statement from the corporation, Punit Goenka will now oversee revenue teams, therefore all staff members who previously answered to Rahul Johri will now report directly to Goenka.
“With his rich expertise and experience, Rahul has added immense value to the organization. I wish him all the success in his future endeavours. I am most certain that with his passion towards the sports and media business; he will continue to contribute towards the industry at large,” Goenka mentioned in a statement. “I also look forward to working closely with Ashish and team, with an aim to drive higher growth in the advertisement revenue segment, as the linear business landscape unlocks more growth opportunities.”
“I wish Punit and team ZEE, all the very best,” he added.
Zee was taking a three-pronged strategic strategy to recover margins: decreasing costs, minimizing business overlap, and increasing quality.
“Going forward, there will be a sharper emphasis on frugality, with a crystal-clear focus on quality and output. Across verticals – including technology, content and marketing – we are implementing steps to optimise spends and enhance the return on investments. A sound recalibration of the OTT cost structure will be an integral part of this process,” Goenka had stated.
“On the revenue side, we will take steps to increase value delivery to our advertisers, apart from exploring alternative content monetisation avenues. This also includes leveraging the strength and reach of our platforms,” Goenka continued.
In the second half of fiscal year 2025 (FY25), he emphasized, a modest improvement in margins was likely to show up in earnings, and Zee aimed for an Ebitda margin of 18% to 20% by FY26.
During the third quarter of FY24, Zee’s net profit decreased 6.4% on an annual basis to ₹53.4 crore. In comparison to ₹2,108.8 crore a year earlier, operating revenue in the three months leading up to December was ₹2,045.7 crore.
