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Balaji reports gross billing of Rs 3.2 cr from ALTBalaji in Q2; total investments in digital biz at Rs 125.2 cr
MUMBAI: Balaji Telefilms’ video on demand (VoD) service ALTBalaji, which launched on 16 April, has reported gross billing of Rs 3.2 crore for the quarter ended 30 September. Gross billing is total collections in the year.
The content company has so far invested Rs 125.2 crore in the digital business. The company said it will be in an investment phase for ALTBalaji for the next 2 to 3 years.
ATLBalaji has launched 10 original shows so far in four languages Hindi, Marathi, Punjabi, and Gujarati. It has seen 8.9 million app downloads. App download does not include anonymous users through the website
Users have consumed 270 million+ minutes of video on the platform. The platform has 100,000+ daily active users with 97 minutes of average watch time per user.
The original shows added in the quarter include Class of 2017, Cybersquad, Pammi Aunty and over 25 hours of stand up comedy in Hindi, Marathi, Gujarati, and Punjabi.
ALTBalaji now available to Vodafone users as part of Vodafone Play. Also entered into more B2B partnerships across a range of OEMs, telecom/internet service providers and payment wallets
It has been ranked number three video streaming app by revenue in the latest App Annie survey.
In Q2, ALTBalaji’s net loss swelled to Rs 18.1 crore compared to Rs 1.8 crore in Q1 FY17 due to increase in costs as ALTBalaji commenced commercial operations and began expensing content and marketing spend. EBITDA loss stood at Rs 19.2 crore compared to Rs 4.3 crore in Q2 FY17.
The company said that ALTBalaji will follow a very controlled cash burn linked to subscriber revenue growth.
The quarterly revenue came in at Rs 1.2 crore compared to Rs 0.8 crore in Q1 FY18. There were no revenues in Q2 FY17 as the service was launched this year. Revenue recognition policy is based on the validity of subscription plan selected by customers.