.jpg)
Zee Entertainment Enterprises Ltd (ZEEL) has reported a significant improvement in the performance of its streaming platform, ZEE5, during the financial year 2024–25, with revenue growth, reduced losses and global breakeven marking a turning point for its digital business.
The results, disclosed in the company’s annual report for FY25, highlight a shift towards tighter cost discipline in the highly competitive over-the-top (OTT) market.
According to the report, ZEE5 recorded revenue of ?9,760 million in FY25, representing a 6% year-on-year increase. At the same time, its EBITDA loss narrowed by nearly half, coming down to ?5,480 million from ?11,144 million in FY24. The company attributed this improvement to a combination of revised pricing strategies, increased syndication revenues and tighter cost control in content and operations.
According to the company, the platform released 59 shows and movies during FY25, including 20 originals, across a wide range of languages. Its content library has scaled to over 1.35 lakh hours, with over 4,000 films, 1,800 TV shows, 420 originals and 4,400 music videos in 12 Indian languages.
It notes that regionalisation and localisation have been central to expanding ZEE5’s reach.
The platform introduced customised language packs and offered hyper-personalised viewing experiences across devices, helping deepen penetration in Tier-2 and Tier-3 markets, it said.
“Several regional titles emerged as breakout successes during the year. Productions such as Aindham Vedham, Sankranthiki Vasthunam, Bhaiyyaji and Vikkatakavi achieved strong engagement across local markets. A Kannada-language original even outperformed big-budget theatrical releases, reinforcing the value of cost-effective, culturally rooted storytelling,” said the company.
ZEE5 Global, which achieved EBITDA breakeven in FY25, retained its #1 position among South Asian streaming services across key markets in the US, Europe, Middle East and Asia-Pacific, as per App Annie data (March 2025), it said.
Alongside its subscription-driven model, ZEEL built ZeePlex, Cinema-to-Home transactional video-on-demand (TVOD) service. In FY25, the platform expanded its content library and added several high-performing titles, it said.
The company noted that audiences are increasingly open to selective paid content under the TVOD model.
The report highlights that content investments are being made selectively, with an emphasis on regional impact and scalable monetisation models.
Pricing strategies have been recalibrated to increase subscriber stickiness while protecting margins.
At the same time, the company has leaned on digital syndication and third-party licensing to expand revenue opportunities without significant incremental costs.
The company has repeatedly emphasised that television and digital will continue to co-exist in India’s media landscape, with the two platforms designed to complement rather than cannibalise each other.
By integrating digital releases with linear programming, leveraging cross-platform synergies in music and studios, and building innovative advertising models, ZEE5 is positioned as part of an interconnected ecosystem rather than a standalone entity.
The report does not disclose subscriber numbers but points to consistent engagement and improved average revenue per user (ARPU) from tiered pricing models and regional packs.
With content localisation, international community engagement and new monetisation formats forming the pillars of growth, ZEE5 is expected to play a central role in ZEEL’s strategy going forward.
For ZEEL, the challenge will be to maintain the momentum of FY25 — keeping costs in check, sustaining regional content success and defending its global leadership among South Asian platforms — while navigating a market dominated by global giants and aggressive domestic players.
.jpg)
