2.9 mn subscriptions of ALTBalaji sold for H1 FY2022, up 69% YoY

ALTBalaji, the OTT streaming service from Balaji Telefilms, saw total subscriptions sold for H1 FY2022 at 2.9 million, compared to 1.7 million in H1 FY2021, a growth of 69%. Direct subscription revenues stood at Rs 34 crore for the period vis-a-vis Rs 24 crore in the corresponding period of FY2021.

ALTBalaji’s current active subscriber base stood at 1.45 million and 87 shows live on the platform

Consumer engagement remains high with multiple competing content, while the focus remains on minimising consumer churn. Pricing remains at Rs 300 a year (less than Re 1 a day making it affordable to the mass audiences).

The overall revenue for H1 FY2022 as per IND-AS stood at Rs 39 crore, however additional Rs 14 crore of revenue will be accounted for in the next 4 quarters as deferred revenue.

Television business

Balaji Telefilms’ TV business returned to normal in H1 FY2022, with 363.5 hours of production across 7 shows and a strong pipeline for the year.

However, hourly realisations remain muted at Rs 28 lakh per hour and are expected to remain soft as broadcasters continue to assess the COVID-19 impact. Balaji Telefilms has 5 new shows lined up, which include 2 shows on Colors, 1 show each on Sony, Zee TV and Doordarshan.

As far as movies are concerned, Balaji Telefilms is currently working on 5 projects even as it continues to monitor shooting schedules and availability of theatrical windows. The company is open to various monetisation opportunities for existing and future projects, including direct to digital launches.