“Transparency is good to an extent, but some opaqueness is necessary. If one discloses exactly where the audience is coming from and who is viewing how much, it could lead to piracy, misuse of first-party data, and wastage of impressions. Our loyal viewer, who generates more impressions, may not be valued enough. In digital media, excessive transparency can devalue the consumer, as it shifts the bargaining power entirely to the advertiser,” said Ashish Sehgal, Chief Growth Officer – Ad Sales Broadcast and Digital of Zee Entertainment, weighing in on the ongoing debate around increasing transparency in audience measurement.
He cited linear television as an example, where advertisers often base decisions on the overall value proposition presented by broadcasters. Television viewership is tracked by an independent third-party body, the Broadcast Audience Research Council (BARC). In contrast, digital platforms rely on self-reported data from individual publishers in the absence of a third party measurement body.
“Since there isn’t always clarity about individual viewer data, advertisers tend to cast a wider net. Their perception is that when a large audience comes together, it’s worth being part of it. But increasingly, they are seeking precision—they want to reach specific audiences and show their ads only to them,” Sehgal said.
He acknowledged that advertisers are also trying to reduce the cost of reaching their customers, which is understandable. “But if the cost per reach drops too drastically, we, as broadcasters creating content for wide audiences, could be at a disadvantage. The concern is that advertisers might say, ‘I only want to reach these four specific people,’ even though the content is made for the public,” he added.
Since the content is created for the masses and consumed by the public, Sehgal argued that the value exchange should reflect that broad reach. “While concerns around ad wastage are understandable, a certain amount is necessary to sustain the broader content ecosystem,” he said.Sehgal contrasted user-generated platforms with content-driven models, highlighting the structural challenges faced by creators in algorithm-dominated ecosystems. YouTube India has distributed Rs 21,000 crore to content creators in the last three years.“Platforms like YouTube prioritise precision targeting and audience monetisation over content investment—and this presents a challenge. While creators do earn based on reach, the algorithm-driven model—where the platform sets the rules—has commoditised creativity and weakened their leverage, often rewarding clicks over quality storytelling and production. In contrast, OTT platforms that invest in original storytelling foster a more sustainable content economy by valuing both the creator and the craft, not just audience reach,” Sehgal said.
As India’s media landscape continues to evolve, Zee Entertainment is adapting its approach to content production, monetisation, and distribution. Sehgal outlined how the company is aiming to expand its role beyond traditional broadcasting, with a growing focus on digital and hybrid viewing formats.
Zee is adopting an “omnichannel, omni-screen” approach, aiming to create stories that seamlessly span formats—such as TV serials, digital mini-series, micro-dramas, and social media snippets—rather than treating television and digital as separate platforms.
One example of this approach is the rollout of original mini-series for ZEE5, such as Ayyana Mane (Kannada). These are created with digital audiences in mind and later adapted for television, reversing the traditional TV-first development model.
A key part of this strategy is Zee’s focus on intellectual property—content that can generate value over time across different platforms. Long-running TV shows are seen not just as popular programming but also as long-term assets.
“For us, both fiction and non-fiction are IPs that can be developed with longevity and repeatability in mind,” Sehgal said. These assets can be extended through syndication, franchising, digital spin-offs, and even live events.
Zee’s flagship event property, the Zee Cine Awards, recently transitioned to a live event format. Around 5,000 to 6,000 tickets were sold, priced between ₹2,000 and ₹50,000—an indication that audiences are willing to pay for premium experiences beyond the screen.
While Zee continues to expand its reach, Sehgal noted that its own platforms—on both TV and digital—remain the central focus.
“The maximum yield comes from our own platforms,” he said. “Fresh content always debuts here. Only once that cycle is exhausted do we explore other screens like YouTube or DD Free Dish.”
This strategy aims to preserve the value of Zee’s content and avoid overexposure in ad-supported environments. YouTube, for instance, is reserved for selected library content rather than newly produced programming.
On the topic of emerging platforms, Sehgal expressed caution about the near-term potential of Connected TV (CTV) in India. While the medium currently reaches an estimated 40 million homes, only about 20 million are actively streaming content.
“It’s fragmented, limited in reach, and not delivering returns yet,” he noted.
Although advertisers are showing interest, he believes it will take time for the CTV ad market to scale meaningfully. “Once the threshold grows to maybe 70–80 million homes, then we’ll see a real difference,” he said.
He also pointed out that the value chain for CTV—spanning OEMs, tech partners, and content owners—adds layers of complexity that make monetisation more challenging.
