Expect to outperform industry growth of 30% in New Media: Shemaroo Entertainment

Shemaroo Entertainment reported a good quarter. Revenues are up 8 percent and profit after tax (PAT) is up almost around 22 percent.

Shemaroo Entertainment buys content and distributes it via different mediums.

In an interview to CNBC-TV18, Hiren Gada, Whole-time Director and CFO of Shemaroo Entertainment spoke about his company’s performance.

Trends on the advertising front look promising for the second half of the year or the rest of the year, so we are very confident that the year should be positive, he said.

Overall industry trend looks like will be closing the year near double-digit growth so we should be targeting to achieve that kind of growth. On the New Media side, industry trend forecasts are at around 30 percent, we have always been trying to focus majorly on that and outperform the industry growth trend, he added.

We have a strong presence and a relationship with most of the major service providers in this ecosystem with a fair amount of content already deployed on most of the major platforms, said Gada.

We continuously aggregate and distribute content so we keep entering into new deals and tie ups always, he further mentioned.