ALTBalaji, homegrown OTT platform from Balaji Telefilms, has seen a significant rise in engagement levels as consumers continue their content consumption online. It continues to make a mark in the original Hindi SVOD space and has witnessed an average of 17,000 subscriptions added per day post lockdown.
Watch times and subscriptions have been seeing strong growth during this period with high levels of growth in all our key markets and demographics. ALTBalaji has witnessed 60 per cent growth in the uptake of digital subscriptions in comparison to 10,600 subscriptions before the lockdown commenced. Till date, the platform has over 1.7m active direct subscribers.
Since February ALTBalaji has added five new shows including Mentalhood and It Happened in Calcutta. Shows launched in earlier months continue to see good engagement as consumers are now watching more of the library of 60 original shows. The streaming platform is well placed to add more shows once the lockdown is lifted.
ALTBalaji has also successfully completed the first ever syndication of a web series to a broadcaster with three popular shows now airing on prime time television. Karrle Tu Bhi Mohabbat, Baarish and Kehne Ko Humsafar Hain are now available between 9pm and 11pm on Zee TV. This deal helped the platform to generate additional revenues for ALTBalaji via syndication fees and creating a larger consumer funnel.
Closely monitoring the COVID-19 situation and taking necessary steps to protect the health and safety of all its stakeholders, ALTBalaji company has initiated work from home policy in line with regulatory directives.
Balaji Telefilms continues to have a very strong balance sheet with zero debt and cash balance of Rs 141 crores as on 31 March 2020. In addition, they hold readily monetisable inventory and receivables of films totalling Rs 99 crores which will add to our cash balance. The effective cash balance of the company stands at Rs 240 crores.
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