Zee Entertainment Enterprises Ltd. (ZEE) on Wednesday announced a restructuring of the organisation, which includes bringing together all of its digital assets under a single umbrella, an integrated content team, combining the different parts of its movies business into a single integrated platform and the creation of an integrated revenue and monetisation team, among other measures.
The restructuring is a bid to capture the “emerging opportunities” in content consumption across genres in India and South Asia, the company stated.
Subsequent to this restructuring, which is effective immediately, Punit Misra will take over as President – Content & International Markets, while Amit Goenka will take over as the President – Digital Businesses & Platforms. Tarun Katial, who leads the ZEE5 India business, will continue to report to Amit Goenka. Shariq Patel will be responsible for the integrated movies business and Anurag Bedi will continue to drive the music business.
Rahul Johri, who was associated with the Board of Control for Cricket in India (BCCI) as its first CEO for over four years, has been appointed as President – Business, South Asia, and will be responsible for leading the integrated revenue and monetisation team. Punit Misra, Amit Goenka, Shariq Patel, Anurag Bedi and Rahul Johri will report to Punit Goenka, Managing Director & Chief Executive Officer of the company.
In line with the trend of digital viewership growing at a “frenetic pace”, the company will integrate its digital assets under a single umbrella, which includes ZEE5 (domestic AVOD+SVOD), ZEE5 Global, SugarBox and Digital Publishing. It will also combine the different parts of its movies business, which is currently embedded in multiple domains, into a single integrated platform. This team will be responsible for both aspects of the value chain – movie purchase/production as well as monetisation, across all markets (domestic and international), it said. This revised framework will substantially enhance the effectiveness of the company’s movies business, it added,
The company will also be creating an integrated revenue and monetisation team, combining all the existing B2B revenue generating teams – linear advertisement, sales, digital advertising, distribution and B2B SVOD partnerships – into a unified ecosystem. “With this revised framework, the company aims to drive a more synergised monetisation engine that will deliver enhanced solutions to its clients, improve wallet monetisation, extend coverage to small and medium enterprises (SMEs) and increase subscriber penetration across linear and digital formats,” it said.
As for its music business, ZEE will continue to invest and grow the business to achieve market leadership.
For content creation, ZEE has formed an integrated content team, responsible for creating and serving content to its viewers across linear and digital platforms.
The linear (advertising/distribution) and digital (AVOD/SVOD) teams in the international markets will be integrated into a single team, led by the market revenue leader who will be responsible for maximising revenues across all formats – linear/digital – and revenue streams, ZEE said. The integration will also enable each international cluster leader to craft a local-market aligned approach, it added.
“With this integrated approach, the company aims to maximise revenue and drive content monetisation, by optimally capitalising the opportunities presented in the international markets,” it further said.
“ZEE 4.0 will be an integrated and synergised organisation, with a sharp focus on delivering world-class entertainment content to our consumers across the world and enhanced value to our partners across the ecosystem,” said Punit Goenka
This restructuring process, implemented in line with the ‘ZEE 4.0 Strategy’, will set up the company for emerging opportunities. “In this new version of the company, its focus will be on reinventing the existing business models, maximising its core, expanding into adjacent spaces and exploring new areas of business,” it said. The Hindu BusinessLine