The Outperformers 2017

A Perfect Script

A frugal approach and concerted effort to build its regional presence are paying off for Zee Entertainment

soumik kar

It has been nine years since Punit Goenka moved into the corner office at Zee Entertainment Enterprises (ZEE). A lot has changed since then, from moving into a new building and managing more businesses across more verticals to the reading glasses that sit on the 42-year-old’s nose. “I was in denial about it but I guess I do need them now,” chuckles the MD of ZEE. The biggest change, though, is in how the business, started by his father, media baron Subhash Chandra, is now run. Chandra kicked off Zee TV’s journey as the first Hindi general entertainment channel (GEC) in the early 1990s. At the time Punit took over, Zee TV drove 90% of the revenues. “Every time our television ratings fell, the stock price would take a beating. There was no way business could be this volatile, and we could not spend our time just looking at the ticker,” he recalls with dismay.