Laxmi Shetty replaces Ashish Sehgal as Zee’s ad revenue head – Industry News

Zee Entertainment (Zee) on Tuesday announced the elevation of Laxmi Shetty as head, advertisement revenue, broadcast and digital with immediate effect. The announcement comes following the exit of Ashish Sehgal, who was leading the advertisement revenue vertical as chief growth officer. Shetty will report directly to CEO Punit Goenka. Sehgal resigned on Tuesday. 

In a statement, Zee said that it had mutually agreed to part ways with Sehgal as he embarks on a new journey. “Laxmi will lead the company’s efforts to enhance monetization across the linear and digital businesses,” it said.

Veteran Insider Takes Charge

Shetty has been with the company for over two decades and has played a key role in the revenue function. Zee said her experience in advertising, coupled with her contributions in building cross-platform solutions and enhancing revenue opportunities, made her a natural choice for the position.

In her expanded mandate, Shetty will be responsible for tapping into new revenue streams, and strengthening relationships with advertisers across television and digital platforms.

Transition Amid Advertising Challenges

The changes come as India’s advertising market undergoes a transformation, with digital platforms gaining share even as television remains a dominant medium. For Zee, reinforcing its advertising revenues across both digital and broadcast is considered crucial to sustaining growth. The company has said that it is looking at around 8-10% revenue growth and 18-20% Ebitda margins in FY26.

The broadcaster has seen several leadership changes in recent months as it adapts to an evolving media and entertainment landscape marked by consolidation. Sehgal was associated with Zee for 20 years, spearheading the strategic alignment of the network’s media assets and overall value of the organisation.

In Q1FY26, Zee’s advertising revenue dropped 17% year-on-year to Rs 759 crore, with domestic ad revenue falling 19% due to an extended sports calendar and reduced FMCG spending.

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