India’s media giant ZEEL says its local advertising revenues grew 22.3 per cent in the quarter to March 31st, to an impressive $159 million, and up from $131 million in the same quarter last year.
During the quarter year ZEEL enjoyed significant ratings success with an all-India viewing share of 19.2 per cent.
The main challenge for the upcoming period, says ZEEL, is migrating to the Telecom Regulatory Authority’s new tariff orders, effective July 3rd, and to be applied from January 2019. ZEEL said that the regulation could be beneficial for all the stakeholders and improve overall customer experience. It further stated that the medium-term outlook of domestic subscription growth remains unchanged.
Punit Goenka, CEO, commented, “Our domestic advertising growth of 22 per cent was driven by higher ad spends across categories and an increase in our network viewership share. Based on our discussions with the advertisers and the visibility on ad campaigns, we believe that the ad growth for the industry could be higher than the initial estimates for this financial year.
“Our domestic broadcast portfolio further increased its market share and continues to be the leading television entertainment network in the country. The increase in viewership share is across the markets with strong traction, particularly in our regional channels. We believe that there is still room for monetising the increase in market share, which will allow us to grow ahead of the market.”