Sony Pictures Networks India Private Limited and Zee Entertainment Enterprises Ltd. on Wednesday announced that they have signed definitive agreements to merge ZEEL with and into SPNI and combine t…
Entertainment Enterprises Ltd. on Wednesday announced that they have signed definitive agreements to merge ZEEL with and into SPNI and combine their linear TV networks, digital assets, production operations and program libraries.
Motivation for the merger stems from massive changes within the Indian entertainment landscape and also from internal corporate pressures within each company. They also said that: “under the stewardship of the Sony Group, a global leader in consumer technologies, gaming and entertainment, the combined company is expected to be able to better compete with the world’s largest streaming players.”
Streaming companies have aggressively pushed into sportscasting, which was previously the preserve of broadcast television. But the average revenue per user is very low.to just $1.97. Both Zee and Sony operate streaming platforms in India, though neither is the market leader.
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