Zee Entertainment’s President of Content and International Markets Resigns

Zee Entertainment's President of Content and International Markets Resigns/Mint

VoM News Desk | April 5, 2024 | 06:11 PM IST | Breaking News | Follow on Google News

Zee Entertainment’s President of Content and International Markets Resigns

Zee Entertainment’s President of Content and International Markets Resigns

Punit Misra, President of Content and International Markets at Zee Entertainment Enterprises Ltd (ZEEL), has stepped down. During his tenure, Misra played a key role in managing content for Zee’s linear television networks and digital platform, ZEE5, catering to domestic and international audiences.

Zee, aiming to trim expenses and streamline operations, has witnessed several senior-level departures in recent weeks, including Rahul Johri, President Business, and Nitin Mittal, President and Group Chief Technology Officer.

Strategic Focus and Outlook

In response to the failed merger with Sony Pictures Entertainment, Zee articulated a three-pronged approach—cost reduction, eliminating overlaps, and enhancing quality to boost margins. Punit Goenka, MD and CEO, emphasized a focus on frugality, quality improvement, and synergy enhancement.

Earnings Projection and Financial Performance

Zee anticipates margin improvement reflecting in FY25’s second half, targeting an EBITDA margin of 18-20% by FY26. Despite a 6.4% dip in net profit to ₹53.4 crore in Q3 FY24, Zee remains committed to bolstering revenue delivery to advertisers and exploring alternative content monetization avenues. Operating revenue stood at ₹2,045.7 crore, down from ₹2,108.8 crore in the previous year.

VoM News Desk

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