Zee Entertainment Enterprises : Investor Presentation – November 20241

Investor Presentation

Zee Entertainment Enterprises Limited - November 2024

Disclaimer

Safe Harbor Statement: This Release/Communication, except for the historical information, may contain statements, including the words or phrases such as 'expects, anticipates, intends, will, would, undertakes, aims, estimates, contemplates, seeks to, objective, goal, projects, should' and similar expressions or variations of these expressions or negatives of these terms indicating future performance or results, financial or otherwise, which are forward looking statements. These forward looking statements are based on certain expectations, assumptions, anticipated developments and other factors which are not limited to, risk and uncertainties regarding fluctuations in earnings, market growth, intense competition and the pricing environment in the market, consumption level, ability to maintain and manage key customer relationship and supply chain sources and those factors which may affect our ability to implement business strategies successfully, namely changes in regulatory environments, political instability, change in international oil prices and input costs and new or changed priorities of the trade. The Company, therefore, cannot guarantee that the forward-looking statements made herein shall be realized. The Company, based on changes as stated above, may alter, amend, modify or make necessary corrective changes in any manner to any such forward looking statement contained herein or make written or oral forward-looking statements as may be required from time to time on the basis of subsequent developments and events. The Company does not undertake any obligation to update forward looking statements that may be made from time to time by or on behalf of the Company to reflect the events or circumstances after the date hereof.

This document should be read in conjunction with the published financial results. Certain analysis undertaken and represented in this document may constitute an estimate or interpretation and may differ from the actual underlying results.

Use of Operating Metrics: The operating metrics reported in this presentation are calculated using internal company data. While these numbers are based on what we believe to be reasonable estimates for the applicable period of measurement, there are some inherent challenges in these measurements. The methodologies used to measure these metrics are susceptible to source issues, calculation or other technical errors. We regularly review our processes for calculating these metrics, and from time to time we may discover inconsistencies in our metrics or may make adjustments to improve their accuracy, which can result in adjustments to previously disclosed metrics. In addition, our metrics will differ from estimates published by third parties due to differences in methodology.

2

M&E Industry Opportunity

4

ZEE's Business

9

Content

Financial History & Road Ahead

14

Growth Strategy

20

M&E Industry Opportunity

India is a High Growth Economy with Attractive M&E Market Opportunity

	India: Robust GDP Growth			M&E industry's revenue as % of GDP (2022)
	9.7%	8.2%
	7.0%	GDP->	$3.1 Tr	$3.1 Tr	$25.5 Tr
6.5%	7.0%

	3.9%				174	180-190
140	145	137	150	161
		-5.8%				4.5%

2.7%

							0.7%
FY19	FY20	FY21	FY22	FY23	FY24	FY25E	India	UK	US
		India GDP (INR tr.)		YoY

• India is 5th largest and fastest growing

economy with over 1.4 billion people

• India's M&E industry has significant

headroom for growth given rising

income levels and relatively lower

spending compared to global norm

• Rising middle class population in

India would promote growth in

Indian M&E industry

India: Increasing Per Capita GDP

			17.5%			2,698
					2,497
				2,366
			2,250
	2,050
1,974	1,916
				8.0%
	3.8%			5.2%	5.5%
0.8%
		-6.6%
FY19	FY20	FY21	FY22	FY23	FY24	FY25E
	GDP per capita, current prices (USD)		YoY

India: M&E Industry Revenue (Rs Bn)

		2,553	3,081
2,144	2,317
CY22	CY23	CY24E	CY26E

• Indian demographic changing:

Increasing affluence1 (>25% HH by

2050) along with higher media

consumption in Tier 2, 3 cities

• India M&E industry is expected to

grow at a healthy pace of 10% CAGR

till CY26E.

5	Source: Bloomberg, MoSPI, IMF, EY FICCI, UK Office for National Statistics, USA Bureau of Economic Analysis, PwC UK Entertainment & Media Outlook 2022-2026, TRAI
1: Households (HH) with annual income more than ₹1 Mn per annum.

This changing shape of the Media and	… presents numerous opportunities to
Entertainment market …	media companies

High demand for relevant local language content

Shaping local language markets & consumer behavior

&

across platforms

TV & OTT "additive" consumption phenomena

Network effect-TV & OTT interplay

Different consumption patterns across TV & OTT

>

Focused investments in OTT & UGC

Consumer funding will continue to be prominent

Exit of international studios from the Indian market

Strengthening Direct-to-Consumer & IP offerings

Scope for movie growth path

Fast growth gaming market penetrating beyond kids

Explore new frontiers in adjacencies

6

Integrated Media Company with leading Content Creation and Distribution Assets

Creating the Content …

And Monetizing it…

• 260K+ hours of content created in 11+ Indian languages
• 490+ hours of fresh content every week
• ZEE owns all original content and IP
• Several strategically aligned business support content creation

Domestic

International

• One of the leading entertainment network in India with a market share of 17.4%* in Q2 FY25
• Offered in 11 languages across 50 channels
• Presence in over 190 countries
• International Broadcast has reach of ~470mm viewers

• 40+ international channels; focusing on providing	Global
content for local audiences in across geographies

• Content Production (Film, TV & Digital) and distribution arm of ZEE
• Over 20 Movies & Web Series released in FY24 across 6 languages

• One of the Fastest growing music label of the country with presence in 20+ languages
• Partnerships with major movie studios & distribution partners

Digital

• Our OTT Platform offers over 3,600+ films/movies, 1,600+ TV shows, 300+ originals and 5 lakhs+ hours of on-demand content across 12 languages
• ZEE5 recorded strong engagement in FY 2023-24 continues, with around 100 billion streaming minutes

7 *BARC: All 15+ (U)

One of India's Largest Media & Entertainment Company

1

A diversified media and entertainment (M&E) platform with wide array of content offerings

for viewers across segments

2

Well positioned to capitalize on high growth India M&E market with demonstrated history

of quality content and experienced management team

3

One of the leading OTT services provider with strong presence in rapidly growing digital

media space

4

Compete effectively for advertisers and viewers in the dynamic and competitive TV market

being one of the leading TV networks in India

5

Strong synergies across businesses - Build a holistic reach, distribution and monetization strategy across TV, OTT and Studio businesses to emerge as a leader in a changing market landscape

6

Healthy Balance Sheet, proven track record of profitable growth, and further enhance cost

leadership to drive growth

Note: 1: App Rating on Android Play store and iOS App store; 2: Across all ZEE Music Company (ZMC) channels in FY24;

3: Others: includes AIF, Domestic co, Body Corp, Govt co, Retail, Foreign Nationals/Entity

8 # Source: BARC All 15+ (U); * Cash and cash eq. includes Rs 2 Bn proceeds from first tranche of FCCB USDINR: 82.78 in FY24 & 83.79 as on 30th Sept'24

	Key Headline KPIs
17.1%	4.5+	165 Bn
ZEE Music YouTube
TV network share#	ZEE5 App rating1
views2
50	USD ~1.04 Bn	~3K
No. of channels in India	FY24 Operating Revenue	Headcount

Healthy Balance sheet and cash generation

USD 213 Mn*	1.2x
Cash and Cash	FCF/ PAT in H1 FY25
Equivalent as of Sept'24

Shareholding Pattern Sept'24

	Promoter, 3.99%
Others3, 58.72%	DII-MF, 12.39%
	DII-Insurance, 6.39%
	FII, 18.52%

ZEE's

Business

From giving India its first private satellite TV channel in 1992, to reaching 1.3 billion viewers around the world through linear and digital platforms. ZEE, today, is the global entertainment go-to, with an integrated team creating and serving extraordinary content.

Linear: One of India's Largest TV Entertainment Network

Customer Offerings Through its vast Portfolios

• Focus on family audience
• Balanced focus on localized content
• Strong fiction-based entertainment content
• Broad regional presence with vernacular content
• Strong global reach

1992	Established
859mn+	Viewer (India only)1
50	# of channels (India only)
11	# of languages (India only)
40+	# of channels (International)

Viewership share2

	17.4%
17.0%	17.1%
16.8%

FY22

FY23

FY24

Q2 FY25

More than 30 years in India M&E Industry

10 Source: 1: FY24 BARC 2+ U+R India; 2: BARC 15+ U India