Zee Entertainment’s video streaming service ZEE5 on May 27 launched ‘Friends: The Reunion’, a special of the popular series ‘Friends’.
On the launch day the content attracted millions of viewers, the company said.
Commenting on the overwhelming response the ‘FRIENDS: THE REUNION’ received as it went on air on ZEE5, Goenka said: “We at ZEE are extremely delighted to note the roaring response that ‘Friends: The Reunion’ received on ZEE5, by amassing 1mn+ views and counting from across the country.”
“We feel extremely proud to have played a part in understanding and serving the cult-loyal audience of the show, by seamlessly streaming it across millions of screens. Consumer delight and seamless user experience have been an integral aspect of our approach across platforms and this step reinstates our commitment towards our viewers and partners,” he added.
ZEE5 which is seeing strong growth in its number of users is adding premium content on the platform.
Recently, the platform released Salman Khan-starrer ‘Radhe’ with an aim to drive the adoption of its annual subscription plan of Rs 499.
While announcing the Q4 FY21 results, the company announced that ZEE5 currently has 72.6 million monthly active users (MAUs) and 6.1 million daily active users (DAUs).
The platform in Q3FY21 had 65.9 million MAUs and 5.4 million DAUs.
In addition, it is estimated that the platform has around four to five million paid users. And the platform is aggressively adding more content to acquire more users.
In an earlier interview to Moneycontrol, Manish Kalra, Chief Business Officer, ZEE5, said that the platform has a lineup of 50 theatricals through the year. “Across four to five languages, we have a plan of 40 web series,” he had said.
While ZEE5 is adding premium content, the acquisition cost of such content is high. While Kalra said that there was a good amount of acquisition cost to get ‘Friends: The Reunion’ on the platform, he did not specify numbers.
In case of the big-budget venture ‘Radhe’, industry experts estimate that the film’s rights were bought for around Rs 225 crore.
The high cost of content is impacting the platform’s revenue.
In the fourth quarter of FY21 revenue growth in Zee5 declined nine percent quarter-on-quarter (QoQ) despite a steady growth in users.
While premium content has high acquisition cost, Shailesh Kapoor, CEO, Ormax Media, a media consulting firm, in an earlier interview said that new subscribers join when they see that a platform is consistently coming out with new content.
“With two high-profile properties from two ends of the spectrum within two weeks, ZEE5 has definitely gained visibility in the SVOD (subscription video on-demand) space in India this month,” he added. Money Control.