Balaji Telefilms Q4 | Loss at Rs 19.68 crore versus loss at Rs 27.84 crore, revenue at Rs 107.67 crore versus Rs 88.86 crore YoY. (Image: balajitelefilms.com)
Media company Balaji Telefilms' over the top (OTT) platform ALT Balaji has registered a 42 percent growth in subscriptions for FY21.
The OTT known for its shows like Apharan, Married Woman, among others sold 4.7 million subscriptions in FY21 and registered direct subscription revenue of Rs 54 crore as against 3.4 million subscriptions with revenue of Rs 37 crore in FY20.
According to Shobha Kapoor, Managing Director, Balaji Telefilms Limited, this is the highest subscription growth since the launch of the platform four years back.
The OTT has plans to add 40 new shows to its current content portfolio of 80 shows.
While digital remained strong, TV and movies were impacted due to COVID-19.
Coronavirus-led lockdown put a halt on TV, films and web series production. Content cost also escalated post reopening due to COVID-19 safety protocols.
Theatres were also shut last year for around six months which led to Balaji Telefilms selling two of its movies to digital platforms.
Overall, the company recorded Rs 118 crore loss after tax in FY21 as against Rs 59 crore in FY20.
"After the initial setback in the first half of FY21 our TV business has shown good recovery in terms of production hours and we hope to maintain this momentum," said Kapoor.
When it comes to recovery, there were eight projects running on TV in the fourth quarter of FY21 including four shows like Kumkum Bhagya, Kundali Bhagya on Zee, Yeh Hai Chhatein, among others.
In addition, four new shows are confirmed across three broadcasters to launch in FY22.
When it comes to the movie business, the company has two film projects of which production work has started including John Abraham starrer Villain 2 directed by Mohit Suri and Goodbye directed by Vikas Behl which stars Amitabh Bachchan.
One film titled Dobaaraa directed by Anurag Kashyap staring Taapsee Pannu is now under post production.
The company has one film in the pre-production stage and another one which is yet to start production.
"In the movie business, production for some of the projects are at various stages of completion. We are closely monitoring the availability for theatrical releases as well and direct to digital launches," said Kapoor.