KOLKATA: India is one of the most promising markets for pay TV and one of those few markets where the business is still growing at a higher rate compared to streaming. Zee Entertainment Enterprises Ltd (Zeel), the leading force for three decades in the industry, is also the pioneer of this burgeoning business in the country. However, the network’s journey has not been rosy always. After facing strong financial headwinds in the business in the last 18 months, Zeel is ready to take the next leap with 5 ‘G’s through its vision of ZEE 4.0.
Governance, granularity, growth, goodwill and gusto are the five pillars of ZEE 4.0. Zeel managing director and CEO Punit Goenka has laid out the roadmap for its new journey while clarifying it he is here to stay and lead the transformation.
Under an all-new reconstituted board, the focus going forward will be to build a process-oriented structure for the future along with achieving the highest levels of automation with zero manual intervention. Goenka also cleared the air by stating that the questions raised on some of its decisions taken earlier have been answered. Moreover, he informed that an independent review commissioned by the board has not found anything adverse to report. Zeel will also be releasing the findings of this review, to maintain the utmost levels of transparency. Considerably, the board was reconstituted last year after media baron Subhash Chandra resigned from his position of chairman.
In a letter addressing to shareholders, Goenka assured that a transparent approach while reporting will be an important area of focus in the new phase of Zeel. The company will ensure that every single aspect including segmental reporting across businesses, consistent reporting on business KPIs, or regular communication pertaining to steps undertaken on ESG and CSR related activities will be informed properly.
“ZEE’s constant endeavour to stay ahead of the industry performance will always be a guiding factor in all our future initiatives. We will continue to build our business with speed, responsiveness and decisiveness. Apart from constantly reinventing our existing business models, the focus will be to maximise our core, expand into adjacent spaces and explore new areas of business. With an undeterred focus on growth and profitability, our aim would be to constantly enhance shareholder value,” Goenka stated in the letter.
Since the time Zeel promoters announced stake sell to repay debt, number of speculations and rumours floated in the market about acquisitions and mergers. Even a few days ago, a rumour made the rounds about a large corporate of India acquiring Zeel. Hence, Goenka reaffirmed that he is here to stay and will remain committed towards the organisation. “I have taken this up as a challenge to restore the goodwill; not just for me, not just for my family, but for the entire team at ZEE,” he stated.
“I am very proud of the professional leadership team at ZEE. Our entrepreneurial spirit, rich expertise in content creation and the unique ability to gauge the pulse of our consumers, have been instrumental to our success. The zeal, passion and commitment which the team brings to the table, gives me a deep sense of pride and I assure you that this will only grow with greater intensity,” he added.
The proud son of media mogul Chandra has reminded that it was not possible to create such a large media conglomerate without his father's visionary approach.
