From bringing the blockbuster shows to the public to getting a little low in subscriptions in recent, the OTT platform ALTBalaji by Ekta Kapoor is facing some collapse in its momentum.
ALTBalaji finished the monetary year FY22 (2021-22 ). To everyone’s surprise, the revenue was lower in contrast with FY21.
The subscription revenues in the following years were INR 54.4 Cr (FY21) and INR 52.39 Cr ( FY22).
The Evolution of ALTBalaji
Owned by Balaji Telefilms Ltd it is an Indian membership-based video-on-demand platform. ALTBalaji was projected on 16 April 2017 and since then it is accessible across 32 distinct connection points for its watchers.
According to a report from The Indian, Express ALTBalaji attained a ‘70% increase in subscribers during the lockdown’ and 80 percent of the viewing happens on smartphones’.
The rise of smartphones in India has accelerated the mass adoption of OTT platforms. Although the Utilization of web shows has been so much lately due to many competitive platforms offering the same it is not easy to stand in the game. But still, the platform manages to be inside the circle.
The aim is to make an easy and simple to use user interface. “We want to create a basic service that works for mass India… we don’t want to make the app complicated. We’ve moved from a seven to eight click pay process now to three to four clicks.” ~ Pantvaidya
Despite having specific issues regarding the content several times many of its shows managed to specific achievements like an achievement for the best marketing for a web original and many others.
What Comes Next
From 61 crore overall revenue in FY21 to INR 102 Cr for FY22 is how the OTT platform came up with earnings so far.
Although the comparative revenues in consecutive years declined but ALTBalaji set its marks in the digital world with all prominence and power and kept up with its audience.
Moreover, the organization is focussing on decreasing money consume in order to take care of the reductions in recent years.
“We continue to have strong controls on the cash spend while driving overall profitability including some strong strategic content-sharing deals which allows us to further our growth,” ~ Shobha Kapoor, Managing Director, Balaji Telefilms Limited.
As in the pandemic period, the consumption of shows and entertainment platforms spiked and people kept up with it. But as soon as life started getting to normal things changed.
People getting into normal life was like ” Getting out of the entertainment zone” going into the real world and doing things. This includes less use of social media or OTT platforms. Which lead to the recent decline.
The stage isn’t just contending with local players but getting tough for international platforms too. So coming out in public and making its worth was more than enough to show that the platform is all ready to go ahead and venture everything its way.
The increment in the OTT call has added a lot of assets to the Indian market. This is just a phase and it will pass. As the content channel is boosting, 2022 and further will be thrilling years for OTT players.
A report conveys that ” The Indian OTT streaming industry is expected to grow to USD 13-15 billion over the next decade at a CAGR of 22-25 percent”