Content consumption experience has been another key driver for the overall exponential growth. Series of technological developments and innovations have made it easy for consumers to access content while also enabling interactivity and personalization. The viewers are no longer restricted to consume content within the confines of time and place. They are empowered with multiple options from around the world, at a device, place and time of their choice. This has given ‘content discovery’ a whole new meaning, paving way for multiple solutions to emerge which are making it further easier for consumers to access relevant and customized content. The immersive content viewing experience enables the viewers to not just view, but to also interact and share, enhancing the overall engagement levels. Technology is not only enabling a personalized experience but is also making it possible to serve customized content to smaller audience segments. As this evolution continues, we will not only be limited to creating content for mass audience but it will be imperative for us to give a personalized entertainment experience to the viewers.

In the evolving media landscape, along with the changing relationship between the viewers, content creators, and distributors, we are also seeing a set of new players emerge. While the existing players will cede some ground to the new entrants, the explosive growth in content consumption is providing enough growth opportunities for all players in the value chain. The incumbents are able to expand their addressable market by creating new touch-points while the new players are thriving on niche or untapped opportunities. While content will remain fundamental to the proposition of entertainment, technology is playing a much more influential role. As an industry, we will have to be agile to adapt to changes, develop new skills, and accelerate the pace of innovation to benefit from these new opportunities. Consolidation will certainly follow this phase of hyper-growth. Constant innovation and incessant efforts to satisfy the consumers’ needs will be critical for survival in this new landscape.

Financial Year 2018-19 has been successful for our Company. Our strong operating performance is in line with the trend over last several years. The investments we made over a period of time are showing results, helping us grow ahead of the market. Our decision to strengthen our focus on regional television markets has yielded results, reflected in our strong competitive position in each of the territories. Zee Keralam is our latest step in this direction which would help us consolidate our position. In a short time, ZEE5 has been able to establish itself as one of the leading digital entertainment platforms in the country. It has learnt from the success of our television business, and has a really sharp focus on regional markets. ZEE5 will certainly be the vanguard of our growth in the coming years. Our movie production and music publishing businesses are getting strengthened every year. While Zee Studios continues to build on the success of the last two years, Zee Music Company is rapidly scaling-up its music library. The International Business is entering a new phase of growth with the addition of ZEE5 to its portfolio. While ZEE5 will be launched across the globe in coming months, the broadcast business will continue to focus on increasing its reach. Zee Live is now expanding its footprint in the organised events space and we expect it to become a strong player in this segment. Our strong operating performance is reflecting in our financials. 12% revenue CAGR and 16% EBITDA CAGR over the last five years is a result of the careful execution of our strategy.

At ZEEL, we have been always cognizant about our responsibilities towards the society. Our content revolves around stories from the varied social, cultural and economic milieu of our great nation. These stories not only serve to entertain, but also help our audience subliminally find inspiration to achieve the extraordinary, build empathy for fellow human beings, and bring about a positive change in the society. Extending our brand philosophy of ‘Extraordinary Together’, we launched the Dibba Lautao and Revive Odisha campaigns to encourage citizens across the country to contribute to relief efforts for the natural calamity affected states of Kerala and Orissa. Our programming initiatives and on-ground activities are making a conscious effort to mitigate the impact of drought in some parts of Maharashtra. With Project Prerna and the Kisan Abhiman initiative, we are constantly working to bring small improvements in their lives of the farming community. As a responsible organization, driven by a rich value system, we remain committed to bringing a positive change in the lives of our audience.

I am grateful to all our stakeholders for their constant support and the trust reposed in us. We are working to strengthen our value proposition and I hope that we will be able to bank on your support in the future as well.