365telugu.com online news, Hyderabad, November 10th, 2021:Balaji Telefilms announced its financial results for the quarter and half year ended 30th September 2021. ALTBalaji remains one of the most consistent hit content creators for OTT adding 9 shows in the half year taking the overall library to 87 shows. The company sold 2.9m subscriptions during the H1Fy22 and currently has an active direct subscriber base of over 1.45m. This excludes subscribers on partner apps where the content continues to do well.
The Company continues its strategy to drive deeper audience engagement by creating content that is targeted at mass India seeking differentiated stories. The platform has over 87 shows and some of the hits launched in H1Fy22 includes Punchh Beat Season 2, Broken but Beautiful 3 and Cartel. During the half year TV business produced 363.5 hours of content across 7 shows for 4 broadcasters. 5 new additional shows have been lined up and should commence shortly.
Movie business resumed production and the company made good progress. The Company continues to wait for availability for theatrical launch windows and looking at deals across direct to digital as well. As part of its strategy the company continues to control investments in movies and pursue pre sales and co-production deals where feasible.
Mrs. Shobha Kapoor, Managing Director, Balaji Telefilms Limited said, “ALTBalaji continues to drive subscription growth and we added 2.9m subscriptions during the half year. We added 9 shows in the half year and now have a very strong line up for the rest of the year. Our strategic content sharing deals will ensure we maintain control on the cash spend while driving overall profitability. Our TV business has shown good recovery in terms of production hours and we hope to improve this momentum as 5 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.”
OPERATIONAL and FINANCIAL HIGHLIGHTS
· ALTBalaji total subscriptions sold for the half year at 2.9m vs 1.7m in H1FY21, direct subscription revenues at Rs 34cr vs Rs 24cr
· Current active subscriber base at 1.45m and 87 shows live on the platform
· TV business continued at normal in H1 with 363.5 hours of production across 7 shows and strong pipeline for the year
· Movies current pipeline include 5 exciting projects
· Overall financial performance for the half year
o Group revenues at Rs 141cr of which ALTBalaji contributed Rs 39cr
o Group EBITDA loss at Rs 68cr and Loss after tax at Rs 73cr