Balaji Telefilms announced its financial results for the quarter ended 30th June 2021.
ALTBalaji’s total subscriptions sold for the quarter at 1.8m vs 0.9m in Q1FY21, direct subscription revenues stood at Rs 17 Crore vs Rs 13 Crore. The current active subscriber base is at 2.4m, and 86 shows live on the platform. The company’s TV business continued on average in Q1 with 174.5 hours of production across 6s hows and a strong pipeline for the year.
In the Overall financial performance for the quarter, the group revenues stood at Rs 65 Crore of which ALTBalaji contributed Rs 21 Crore. The Group EBITDA loss at Rs 30 Crore and Loss after tax 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. 5 new additional shows, including one regional show in Marathi, have been signed and should commence shortly.
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.
Shobha Kapoor, Managing Director, Balaji Telefilms Limited said, “ALTBalaji continues to drive subscription growth and we added 1.8m 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.”