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ALTBalaji has awarded its media mandate to Lodestar UM, part of the IPG Mediabrands Network. This mandate includes media investment and strategic partnership including print, television, online, out of home (OOH) and radio.
Following the footsteps of its Hindi counterpart Balaji Telefilms, Bengali film and TV production house Shree Venkatesh Films has launched its subscription-led OTT platform Hoichoi. In India, the service has three introductory plans. The lowest price is Rs 149 for three months.
On an average, fiction content of 20-30 minutes on digital can cost anywhere between Rs 1.2-1.5 mn, Balaji Telefilms said. This is nearly twice as high as content cost on television, the company added.
Balaji Telefilms wants to own IP rights of the content that it produces. It seeks to bolster TV biz by pushing weekend fiction format and capitalising on Doordarshan slots. Plan is also to up content for ALTBalaji and other digital platforms. Move will be to retain and get better terms on syndication and remake rights.
Balaji Telefilms has invested over Rs 100 cr in its digital biz, which comprises ALTBalaji. The OTT service, which debuted on 16 April, reported gross billing of Rs 2 cr in the quarter ended 30 June. Balaji’s digital biz posted revenue of Rs 8 mn in Q1.
Balaji Telefilms reported Q1 consolidated loss of Rs 23.4 cr even as it launched ALTBalaji in the quarter. Revenue from movie biz totalled Rs 57.3 cr.
A quirky story about two couples and their misadventures, ‘Fourplay’ showcases cheating and loyalty, albeit in a lighter and humorous way.
The deal will give Reliance Industries a TV and movie production house and, above all, an OTT biz in ALT Balaji. It will help ALTBalaji to compete with other OTT service providers. Along with the earlier deal, Balaji will now be armed with around Rs 520 crore to expand its biz.
The board of Balaji Telefilms will meet on 20 July to consider various fund-raising options. This will include raising funds through issue of securities on preferential basis.