We are hopeful that ALTBalaji will break even in 2020-21: Nachiket Pantvaidya
MUMBAI: Balaji Telefilms-owned over the top (OTT) platform ALTBalaji, which is eyeing a revenue of Rs 80-100 crore in FY20, is hoping to break-even in FY21.
Balaji Telefilms COO and ALTBalaji CEO Nachiket Pantvaidya said 2019 has been a phenomenal year for us both in terms of content and subscriber growth. “We have registered 4X growth in our direct subscribers base and we will clock a revenue between INR 80-100 crore.”
He further stated that the aim is to tap the next billion users coming onto the internet by enabling easy and seamless access to the content at no extra cost. “On the back of successful 2019, we are hopeful that ALTBalaji will break even in 2020-21,” he noted.
ALTBalaji plans to launch 25-30 more shows in the year 2020. In 2019, ALTBalaji launched 23 originals taking its content library to 53 originals. It currently has over 33 million cumulative subscriptions to date.
Some interesting shows are already in the pipeline like Cartel, Apharan 2, Code M, Mentalhood, It happened in Calcutta, Dil Hi Toh Hai S3, Class of 2020, Kehne Ko Humsafar Hain Season 3, Baarish 2, Dev DD 2, Haq Se 2, Virgin Bhaskar 2, Gandii Baat 4 and Mumbhai among many others.
ALTBalaji is also working towards strengthening its UI/UX for a seamless experience by focusing on aspects like language interface, voice search, targeted retention strategies, tailored recommendations, quick onboarding, and convenient payment gateways.
ALTBalaji’s association with payment gateways like Amazon Pay, Mobikwik, Grabon, and Paypal helped reach out to a wider set of audiences and enabled a plethora of payment options to choose from. Through these partnerships, the OTT platform offered a one-click purchase of its services making it a seamless experience for the consumers.