CLSA bullish on India's Zee Entertainment as Z5 growth offsets content costs

Zee Entertainment Enterprises

23/06/2026 10:40

** Brokerage CLSA says Zee's ZEE.NS OTT service Z5 has seen weekly active users double to a record 27 mln since the Fifa World Cup began 
** Says Zee's surge in Z5 and viewership will aid revenue, offsetting rights costs estimated at under $60 mln over eight years, adding upside to growth forecasts
** Maintains "outperform" rating on stock, with PT at 125 rupees, implying 8% upside to last close 
** Says Z5 has been the most downloaded OTT in the past two weeks despite premium subscription monetisation for World Cup content
** Shares of the satellite television and digital media operator were down about 1% to 114.63 rupees
** 6 of 13 brokerages rate the stock "buy" or higher, 2 "hold" and 5 "sell" or lower; their median PT is 100 rupees
** YTD, ZEE up 28%

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.Parmar@thomsonreuters.com;))