ALTBalaji direct subscriptions up 35% QoQ; Q1 FY2022 revenue at Rs 21 cr

ALTBalaji, the OTT platform from Balaji Telefilms, saw its total subscriptions go up by 1.8 million for the first quarter ended June 30, 2021, compared to 0.9 million in Q1 FY2021, while direct subscription revenues in Q1 FY 2022 stood at Rs 17 crore, as against Rs 13 crore in the corresponding quarter of the previous fiscal. ALTBalaji’s current active subscriber base stands at 2.4 million. The platform has over 86 Original shows and some of the hits launched this quarter included ‘Punchh Beat Season 2’ and ‘Broken but Beautiful 3’. 

Balaji Telefilms Group revenues for Q1 FY2022 were reported at Rs 65 crore, of which ALTBalaji contributed Rs 21 crore. 

However, the Group EBITDA reported a loss at Rs 30 crore in Q1 FY2022, while loss after tax for the quarter stood at Rs 34 crore. 

TV business has continued at normal levels as daily show production was ensured with pandemic restrictions. During the quarter, the company produced 174.5 hours of content across 6 shows for 4 broadcasters. Five new additional shows, including one regional show in Marathi, have been signed and should commence shortly. 

The movie business resumed production and the company made good progress with film shooting. 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. The current pipeline for movies includes 5 new projects. 

Commenting on the group’s performance, Shobha Kapoor, Managing Director, Balaji Telefilms Ltd, said, “ALTBalaji continues to drive subscription growth and we added 1.8 million subscriptions during the quarter. We added 6 shows in the quarter 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.”