Entertainment firm Zee Entertainment Enterprises Ltd (ZEEL) shares rallied ten percent in trade on Monday, June 23, as the media firm's investor update shared the firm's growth plans for the current financial year.
At 11 a.m., shares of Zee were trading near the day's high at Rs 146.21, up nearly 10 percent on the NSE, compared to the previous session's closing price.
Compared to the largest player in the media industry, Zee noted that it was the most profitable network, despite being smaller in scale due to its lack of presence in the sports segment. Further, Zee said it is executing its growth plans for the next few years to further strengthen its presence in General Entertainment.
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Major players are shifting to a 'full stack' model where they continue to operate their traditional
channels, but also incorporate emerging media into their platforms, noted Zee. The firm plans to "enhance its digital offerings in a profitable manner both domestically and internationally without going beyond content ecosystem."
Zee is also positioned to become leading & profitable OTT player, having completed the investment cycle. The entertainment player is also developing new business verticals to expand its target
audience and augment revenue streams, such as micro dramas, UGC, Live Events, Edutainment, Emerging Sports, and more.
Other initiatives include:
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