ALTBalaji's direct subscriptions revenues for 9 months FY2022 grows to Rs 45 cr
Balaji Telefilms announced its financial results for the third quarter and nine-months ended 31st December 2021.
ALTBalaji remains one of OTT’s most consistent hit content creators adding 11 shows in the nine months taking the overall library to 89+ shows. The Company sold 3.48mn subscriptions during nine months ending 31st December 2021. 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 89+ shows and some of the hits launched in Q3Fy22 includes Girgit & Pavitra Rishta 2. At the same time, the engagement time stands at 72 mins, with watch time at 15.45 billion in minutes. Video views stand at 1.26 billion cumulative till date.
During the nine months TV business produced 618 hours of content across 7 shows for 4 broadcasters. 3 new 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 3.48mn subscriptions during the nine months. We added 11 shows in the nine months and now have a solid line up for the rest of the year. Our strategic content sharing deals will ensure we 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 3 new shows will commence. In the movie business, production for some exciting projects is at various stages of completion. We closely monitor the availability of theatrical releases and direct to digital launches. Overall, the year has been good and expected to continue the momentum.”
OPERATIONAL and FINANCIAL HIGHLIGHTS
ALTBalaji total subscriptions sold in Q3YTD FY21 were 3.3 mn. Q3YTD FY22 is 3.48 mn. Direct subscription revenues at Rs 45cr vs Rs 37 cr
ALTBalaji 89+ shows live on the platform
TV business continued at normal in nine months with 618 hours of production across
7 shows and a strong pipeline for the year.
Movies current pipeline includes 5 exciting projects
Overall financial performance for the nine months
o Group revenues at Rs 217cr of which ALTBalaji contributed Rs 52cr o Group EBITDA loss at Rs 90cr and Loss after tax at Rs 99cr