Zee Board Starts Mentorship Program For Management For Achieving Key Goals

Zee Entertainment Enterprises Ltd.’s board started a Monthly Management Mentorship (3M) Program to guide and enable the management to achieve key performance metrics.

As part of the 3M Program, the board also set up a special committee to review the management’s business performance and provide the required directional guidance, Zee said in a stock exchange announcement.

The Indian media and entertainment company said the special committee consists of Zee Chairman R. Gopalan and Uttam Prakash Agarwal, chairman of the audit committee.

Zee said the special committee conducted the first set of review sessions with the management to evaluate business vertical plans, enhance the revenue generation approach and optimize resource utilization for improving efficiencies across the company.

The special committee identified business verticals that need to further enhance performance.

The committee’s key observations and suggestions are:

• The business verticals that require critical assessment include 1) Margo Networks (Sugarbox) 2) Teleplay & Zindagi 3) Hipi 4) Weyyak and 5) English Cluster of Linear TV Business. The identified business verticals will need to substantially reduce losses and enhance their performance levels.

• The Technology & Innovation Centre (TIC) has developed a substantial level of technology and tools, but many of the development projects have reached its maturity levels and there’s an immediate need to focus on return on investment.

• There’s scope for streamlining the work for the TIC, which incurred an expenditure of around 600 crore rupees ($72 million).

• The management should reduce the expenditure at the TIC by 50% for FY25 and utilize its services to enhance the company’s content development, distribution and monetization approach.

• The management should stay focused on its core expertise, ethos and DNA i.e., content and leverage the TIC’s Artificial Intelligence (AI) and Machine Learning (ML) tools to gain a deeper insight into the consumer profiles.

• The management should also enhance the monetization avenues for the music business and subsequently increase the vertical’s contribution to the company’s bottom-line. The music business should focus on further optimizing its costs, without losing its leadership position in the market.

Note: $1 = 83.4488 Indian rupees

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