The company overall market share has risen from 16.9% in Q1to 18.3% in Q2. In the Hindi pay GEC space, its market share has risen from 22.7% to 25.5%.

Other revenue which includes movie production and distribution revenue sports syndication revenue, etc. saw a sharp fall YoY, as expected, since 2QFY17 had the movie "Rustom" in the base. Other sales and services largely driven by film business and music publishing.

Underlying ad revenue growth was slightly better as Zindagi was taken off-air from June 30, 2017 and is now only available on OTT platform. Recovery from GST related slowdown for advertisers has been sharp and the growth is back on track.

The company continues to see good ad spend from FMCG vertical. The E-commerce vertical also remains strong. H2 FY18 should see mid-teens ad revenue growth.

Delay in content deal closures due to uncertainty around implementation of the TRAI order resulted in just 7.2% subscription revenue growth. The growth should be in mid-teens for the full year. Implementation of tariff order will be positive for Zee as it will plug leakages..

International subscription revenue growth will remain muted considering higher competition from digital. The mgmt said that going forward it will stagnate in future and digital will be answer for it to grow. Presently it will grow, before some lack to be seen

Original programming hours on on Zee TV are currently 27.5 hrs per week. Zee targets to take them to 30 hrs by end Q3 and to 32 hrs by end-FY18. Original programming hours for &TV were at 24 and will remain at 24 in the near future

Total content cost for Q2 was also favourably influenced by lower costs on movie, which offset the increase in content cost on TV shows .

15-18% of content is produced in-house.

Digital - will have revenue model of both ad and subscription. Market to market it will differ in ratio. On content side, it will be unrival to present tv platform.

Digital - will be no different than TV in the way the content is produced. 300-500 hours per year may be produced for digital only.

Z5, the new digital platform, will be launched in H2FY18. The current Ozee and Ditto subscribers will get an automatic upgrade to Z5 on launch. Other than linear TV, all content created for Z5 will be exclusive. Exclusivity of international films etc. will depend on the deal struck.

Jio deal– given right fo watching content on mobile and not streaming on TV through cable

Acquisition of IWPL resulted in goodwill jumping from Rs 260 crore to Rs 610 crore from March to September.

Increase in inventory is due to acquisition of movie rights. Zee has been aggressive in acquiring movies in regional markets. To expand in other genre , the company need to buy movie, so content cost will be up gng fwd. Also acquiring digital right now for the content,as a result, the cost will rise. It will be high for next 24 months, then it will flatten.

The acquisition of six music channels from 9X Media will add to Zee's presence in the music genre. The deal is likely to be closed in 45-60 days and will mostly be consolidated from Q4FY18 onwards. 9X's profitability will be similar to other entertainment products

Effective tax rate – it is presently at 36%. For FY18, it will be at 35 – 36%.

Domestic ad growth- seeing some bounce back. overall the categories' are catching up.

Zee has maintained its 30%+ Ebitda margin for FY18, after considering re-branding costs, launch costs of Z5, and costs related to 25th anniversary celebrations.