Mumbai: Balaji Telefilms announced its financial results for the quarter and half year ended 30 September 2021.
Selling 2.9m subscriptions during H1Fy22 (vs 1.7m in H1FY21) ts streaming platform ALTBalaji reached a current active direct subscriber base of over 1.45m. This excludes subs on partner apps. Direct subscription revenues stood at Rs 34cr vs Rs 24cr. ALTBalaji contributed Rs 39cr to the half-year Group revenues at Rs 141cr
The platform added nine shows in the half-year taking the overall library to 87. Some of the hits launched in H1Fy22 include Punchh Beat Season two, Broken but Beautiful season three, and Cartel. ALTBalaji continues its strategy of driving deeper audience engagement through differentiated content targeted at mass India.
During the half-year, the TV business produced 363.5 hours of content across seven shows for four broadcasters. Five new shows have been lined up, and should commence shortly, it said.
Movie business also resumed production. With five projects in the pipeline, the company said it is making good progress, even as it waits for the availability of theatrical launch windows. Deals across direct to digital are also being explored. As part of its strategy, it continues to control investments in movies and pursue pre-sales and co-production deals where feasible.
Balaji Telefilms Limited MD, Shobha Kapoor said, “ALTBalaji continues to drive subscription growth. We added 2.9m subscriptions during the half-year. We added nine shows in the half-year and now have a very strong lineup for the rest of the year. Our strategic content-sharing deals will ensure we maintain control on the cash spends while driving overall profitability.”
Commenting further on the TV and movies business, she added, “Our TV business has shown good recovery in terms of production hours and we hope to improve this momentum as five new shows commence. In the movie business, production for some of the exciting projects are at various stages of completion and we are closely monitoring the availability for theatrical releases as well and direct to digital launches. Overall, the year has started well and we will build on this momentum through the year.”
