Shares of Zee Entertainment Enterprises were higher by over 3 percent on June 10 after the media group signed a strategic partnership with content start-up Bullet to launch a micro-drama app focusing on short-format entertainment.
The stock climbed as much as 6.39 percent to hit an intraday high of Rs 135.56 on the NSE before trimming some gains. Around 11 am, Zee's shares were trading at Rs 130.95, up 2.77 percent, marking the second consecutive session of gains.
A total of 8.36 lakh shares changed hands today of Zee Entertainment Enterprises Ltd generating a total turnover of Rs 11.11 crore. The company has a market cap of Rs 12,582.80 crore, as per BSE website. In volume terms, nearly 2.7 crore shares of the company were traded on the NSE till 11: 15 AM.
In a regulatory filing, Zee said on June 9 that it has entered into a strategic tie-up with Bullet, a new-age content and technology start-up, to launch a micro-drama app within the ZEE5 ecosystem. The company said the integration would help deliver short-format entertainment to viewers directly through the platform by leveraging ZEE5’s existing user base.
"The application will also introduce AI-driven pricing and performance prediction models for content acquisition and distribution, Gamification layers to increase user retention and loyalty through reward mechanisms and Creator-generated content pipelines to pave the way for independent creators and studios to monetize and grow," the company said.
Company Spokesperson of Zee Entertainment Enterprises Ltd. said, "Our strategic partnership with Bullet aims to build a competitive advantage for the future by identifying innovative formats and scaling them through our platforms to drive stronger monetization."
Azim Lalani, Co-Founder and Chief Business Officer, Bullet added, "With snacky content increasingly capturing the audiences’ short attention span and keeping them engaged, the next wave of content consumption will encompass creators that nurture the ability to deliver intrigue and emotions in bite-sized formats."
The announcement also lifted the broader Nifty Media index, which rose 1.2 percent during the session, supported by gains across all nine constituents. Zeel was the top gainer in the Nifty Media Index.
The company had reported a sharp rise in consolidated net profit for the March quarter of FY25, which jumped 1,305 percent year-on-year to Rs 188 crore from Rs 13.4 crore a year ago.
Revenue for the quarter stood at Rs 2,220 crore, up 1.6 per cent from Rs 2,185.3 crore in the corresponding period last year.
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