Tag: ALTBalaji

  • Chimp&z Inc bags digital mandate for ALTBalaji’s Metaverse game ‘Lock Upp’

    Chimp&z Inc bags digital mandate for ALTBalaji’s Metaverse game ‘Lock Upp’

    Mumbai: Chimp&z Inc, from the aegis of Merge Infinity Network has bagged the digital mandate for ALTBalaji’s “Lock Upp,” a first-of-its-kind reality show-based fantasy metaverse game. This establishes a strategic partnership for the game’s launch on seven popular social media platforms.

    With this partnership, the agency forays into a metaverse market that offers in-game cards of the celebrity contestants which players can own, buy, sell, and trade and earn points through skilled gameplay and contributions to the ecosystem, said the statement.

    As per the mandate, the agency will amplify enrollment in the game with creative communications across social platforms such as Discord, Facebook, Instagram, Twitter, YouTube, and Telegram. The digital duties further extend to online reputation management and influencer collaborations.

    https://www.instagram.com/lockuppgame/

    “As we embark on a first-of-its-kind journey for an innovation like the Lock Upp Game, we are delighted to have Chimp&z Inc on board to support us in this unique project which will break barriers and open paths for future content innovation,” commented Balaji Telefilms group COO Zulfiqar Khan.

    “We’re thrilled to partner with Zulfiqar and his team on delivering a surreal experience to the audience with a Metaverse-based game,” stated Chimp&z Inc VP- growth and operations Ashish Duggal. “The game plan is to develop identifiable social and digital solutions that will assist in supporting the brand’s thrust area of being the first fantasy game based on a reality show. We put together a team of gaming enthusiasts for this project who formulated a digital strategy that will appeal to the target audience, which includes gamers, metaverse wizards, and NFT buffs. This innovative intellectual property has manifested a bridge between virtual reality and entertainment, making the audience a part of the content they are consuming.”

  • Are women able to make their presence felt in M&E industry?

    Are women able to make their presence felt in M&E industry?

    Mumbai: Media and entertainment companies must take deliberate action to foster gender diversity at the workplace. This includes instituting mentorship programmes for emerging leaders, flexible work policies and empowering the female workforce to take up non-traditional roles.

    In the corporate world, women are not just encumbered by low female labour force participation of 27 per cent, they also face deeply embedded biases in leadership roles and emerging disciplines such as technology, product development and data science. Women have always been an integral part of the Indian media and entertainment (M&E) industry since its inception. The sector which employs four million people, both directly and indirectly, has a higher female labour force participation compared to other industries with more women represented in leadership roles every year.

    In the last decade, the M&E industry has seen a transformative shift led by increasing digitisation of workflows and emerging technologies. While women are well represented in creative fields they still lack a presence in management positions. Although this trend is changing, corporates have an outsized role to play in ushering in an era of gender inclusivity and diversity at the workplace. This includes policy changes that engender not just an egalitarian work culture but also encourage women to aspire to leadership roles. For example, the Companies Act 2013 mandated that every board should have at least one woman and today women hold 17.1 per cent of board seats in India.

    “I don’t think any organisation begins by saying ‘I do not want a woman for this role’.  Nor women begin by saying ‘I do not want a challenging role’,” remarked Wunderman Thompson South Asia chief talent officer Roopa Badrinath. “By now, all organisations are aware of the benefits of having more women in their workforce.  I would like to believe that it is not that organisations do not want to hire women, it is just that they do not know where to find them.”

    “With digital becoming mainstream only in the recent past, tech and product are still relatively new roles. However, of late, we have seen the emergence of many women entrepreneurs who are creating their own digital businesses,” observed Josh country manager Rubeena Singh. “We are also seeing more women in management roles today, as compared to a few years ago. It takes years of work and experience to get to the top step and with more women today in middle management roles, there is hope of seeing many more women leaders in the coming future.

    A recent study by Grant Thornton India showed that the percentage of women in senior management roles in India is at 39 per cent versus 31 per cent globally. This pace of change has been aided by changing perception of women in the workplace as well as the shift towards hybrid style of working. “Covid-19 has taught us all to work from home at scale. This has provided women with the luxury of flexibility, a big positive, as it has enabled us to balance work and family responsibilities seamlessly,” explained Singh. “With this increased flexibility, women now have the opportunity to explore more with their careers and experiment with it.”

    In India, women do seven times more unpaid labour, i.e., household chores, as compared to men. This huge disparity was considerably reduced during the lockdown, enforced in 2020, when both men and women were working from home and divided domestic duties more fairly. “Work from home is a blessing for both genders. I see men enjoying it equally as much as women. Women are more challenged to work from home because while working from home, and you are expected to take care of the home chores, cooking, cleaning, kids, exams, tuition, teachers, etc. So, yes, I think work from home or a hybrid model is good, and it should encourage more diverse talent to come into the industry. It is suitable for the companies because A) your infrastructure cost is less and you can hire talent from vast geography,” said Altbalaji SVP marketing partnerships and revenue Divya Dixit.

    “Organisations like ours were quick to understand this and relentlessly emphasized on the importance of an empathy and trust driven leadership.  We encouraged our leaders to course correct their leadership style if need be and be more mindful of such challenges of women and focus on the well-being of their people.  The hybrid workplaces where we do not work 100 per cent from home or 100 per cent from the office will be empowering this under-served population to make choices which will be in their career interest and eventually be beneficial to the organisations,” said Badrinath.

    According to an industry observer, women in M&E have been confined to traditional roles such as HR, creative, media planning, business development, legal, corporate communication and marketing and have shied away from male dominated roles such as distribution, product development, strategy and operations. Strongly disagreeing with this view, Dixit said, “I’ve seen women take up leadership roles and challenges across industries and not just in the M&E sector. I think what needs to be kept in mind is that more women are reinstating themselves in non-traditional roles despite the glass ceiling. Today, I still think the male workforce is paid about 15-20 per cent more than women.”

    Women in corporate roles are judged by different standards by men and often face gender biased appraisals, found a McKinsey study. There is a need to retrain HR managers in the way they evaluate women candidates for leadership roles. “As an industry which almost always works on changing perceptions, attitudes and behaviours of consumers, we have a huge role to play through the work we do in breaking societal stereotypes imposed upon women,” noted Badrinath.

    “Social change takes a long time and we’re in the process of change,” according to Zee Entertainment Enterprises chief creative officer special projects Shailja Kejriwal. “If you’re a business leader you’re expected to be the ‘alpha’ and until you change the concept of a leader being ‘alpha’ a business won’t be run by women leaders who are perceived as empathetic.”

    I think as an industry and society we are heading towards a more empathetic way of working, whether it is flexible working hours or leave policies, and this is brought about by the pandemic,” she added. “It has made people question a lot of embedded beliefs and, therefore, you see things such as ‘The Great Resignation.’ What happens if corporates start realising that you need to nurture talent regardless of whether it is a man or a woman, otherwise your business won’t run? Then there is no choice but to go in the direction of dealing with things differently.”

  • ‘Lock Upp’ garners 15 million views in 48 hours

    ‘Lock Upp’ garners 15 million views in 48 hours

    Mumbai: MX Player and Altbalaji’s new reality show “Lock Upp” has garnered 15 million views within 48 hours of its launch, according to the streaming platform. “This made it the first digital reality show to achieve such a massive opening in its launch week,” said the statement. 

    The show which released on 27 February features Kangana Ranaut as the host and brings together 13 controversial celebrities in a jail for 72 days. 

    The celebrities include Nisha Rawal, Munawar Faruqui, Poonam Pandey, Kaaranvir Bohra, Swami Chakrapani, Siddharth Sharma, Anjali Arora, Babita Phogat, Shivam Sharma, Sara Khan, Payal Rohatgi, Tehseen Poonawalla and Saisha Shinde.

    “While television has run its course on the over hashed sentiment of unity amid differences of opinions, ‘Lock Upp’ is a reality format that is quite the opposite — it pits celebrities and influencers who are known for very strong views on various issues in a hostile environment that has bare minimum amenities. The show has attracted a huge following even amongst international viewers because of its distinct look and feel,” said the statement.

  • ALTBalaji adds 3.48 mn subscriptions in 9MFY22; direct sub revenue at Rs 45 cr

    ALTBalaji adds 3.48 mn subscriptions in 9MFY22; direct sub revenue at Rs 45 cr

    Mumbai: Balaji Telefilms announced its third quarter financial results for FY 2022. The company’s quarterly income from operations at the end of 31 December 2021 stood at Rs 76.2 crore. It posted a net loss after tax of Rs 26.4 crore for the quarter.

    The company reported that total subscriptions sold for their OTT platform ALTBalaji for the third quarter year-to-date FY22 stood at 3.48 million. The direct subscription revenue was recorded at Rs 45 crore.

    Engagement time on the video-on-demand platform was recorded at 82 minutes with a watch time of 15.45 billion in minutes. Till date, cumulative video views on the platform stands at 1.26 billion.

     ALTBalaji added 11 shows in the nine months and has taken the overall library to 89+ shows.

    The company said its TV business continued normal in the past nine months with 618 hours of production across seven shows and a strong pipeline for the year. “Three new shows have been lined up and should commence shortly,” said the company statement.

    The company also has five film projects in the pipeline. “Movie business resumed production and the company made good progress,” said the company adding that it continues to wait for availability for theatrical launch windows and looking at deals across direct to digital as well. As part of its strategy it continues to control investments in movies and pursue pre-sales and co-production deals where feasible.

    “ALTBalaji continues to drive subscription growth and we added 3.48 million subscriptions during the nine months,” said Balaji Telefilms managing director Shobha Kapoor. “We added 11 shows in the nine months and now have a solid line up for the rest of the year. Our strategic content sharing deals will ensure we control on the cash spend while driving overall profitability. Our TV business has shown good recovery in terms of production hours and we hope to improve this momentum as three new shows will commence. In the movie business, production for some exciting projects is at various stages of completion. We closely monitor the availability of theatrical releases and direct to digital launches. Overall, the year has been good and expected to continue the momentum.”

  • MX Player, ALTBalaji rope in Kangana Ranaut for new reality show ‘Lock Upp’

    MX Player, ALTBalaji rope in Kangana Ranaut for new reality show ‘Lock Upp’

    Mumbai: MX Player and ALTBalaji have partnered to launch a reality show ‘Lock Upp: Badass Jail, Atyaachari Khel’ with Bollywood actor Kangana Ranaut as the host of the show. The show premieres on 27 February.

    Produced by Endemol Shine, the show features 16 celebrities who are put together lock- up for months and stripped of their amenities. The announcement was made at a press conference on Thursday by Ekta R. Kapoor along with MX Media CEO Karan Bedi and actor Kangana Ranaut. Also present were ALTBalaji Group COO Zulfiqar Khan, MX Media COO Nikhil Gandhi, and MX Player SVP and head – acquisitions Mansi Shrivastav.

    The show will be live-streamed 24X7 on both ALTBalaji and MX Player. ALTBalaji will also introduce a fantasy metaverse game based on the reality show. “I am thrilled and excited to be foraying into OTT with such a unique and brilliant concept,” said Kangana Ranaut. “I want to thank Ekta for always being by my side, she has always been someone I admire and respect a lot. I am glad that she is there with me for my OTT debut as well.”

    “Lock Upp is being launched on a massive scale and has all the elements that make for an entertaining reality show,” said Ekta R. Kapoor. “The concept of the show is brilliant, and I am sure that it will captivate the viewers and set a new standard for reality shows.”

    “MX has always been a market disruptor – our user-first approach to create product and content experiences that appeal to our huge audiences’ segments has made us India’s largest entertainment platform today,” said MX Media CEO Karan Bedi. “Lock Upp is yet another step in disrupting the Indian entertainment ecosystem as it is designed as a digital-first non-fiction offering that will release on a scale that is unprecedented for India.”

    “ALTBalaji is proud to be the first in the world to launch a metaverse game that is based on a reality show,” said ALTBalaji Group COO Zulfiqar Khan. “Gaming enthusiasts around the world can explore this fantastic world that we are creating with elements of blockchain and NFTs.”

    “At the heart of MX Player’s success lies the ‘global Indian’ consumer and we have constantly been working towards creating content as per consumer preferences, especially given the large user base of over 300 million globally spanning across the US, UK, Middle East Southeast Asia and more that we cater to on our platform,” said MX Media COO Nikhil Gandhi.

    “MX Player’s content design focuses on building a bouquet of engaging and entertaining offerings for our diverse audience and the biggest pillar of our content creation philosophy is our partnership with content creators and aggregators,” said MX Player SVP and head – content acquisitions Mansi Shrivastav.

  • ALTBalaji ropes in Pitchfork Partners to strengthen viewer base

    ALTBalaji ropes in Pitchfork Partners to strengthen viewer base

    Mumbai: Homegrown digital platform ALTBalaji has appointed Pitchfork Partners Strategic Consulting as its communication partner to increase awareness about the OTT platform, its shows and widen the viewer base through multi-channel outreach.

    The OTT platform currently has a library of 89+ Hindi originals across genres, which are also dubbed in regional languages like Tamil, Telugu & Malayalam, and in international languages like Arabic and Bhasa, which has helped the OTT player engage with a wide variety of consumers.  

    ALTBalaji senior VP and head marketing Divya Dixit said, “Alternative content being the core ethos of the group, ALTBalaji is focused on building a content bouquet that serves inclusive and individualistic viewing. We are delighted to have Pitchfork on board to support us in our journey and take the platform to the next level.” 

    Pitchfork Partners co-founder Jaideep Shergill said, “We’re thrilled to partner with ALTBalaji. Our diverse experience with entertainment clients will facilitate us in achieving milestones together. OTT is an ever-evolving, dynamic space and increasingly so due to the pandemic, ALTBalaji is disrupting the space by introducing content which caters to mass viewers.”  

    The OTT platform has witnessed a 15-20 per cent growth in its viewership numbers; however, the lockdown increased subscribers from the Hindi heartlands. At least 59 per cent of the total viewership is now coming from non-metros. “While cities like Lucknow, Ludhiana, and Guwahati saw an increase of 189.84 per cent, 106.50 per cent, and 108.41 per cent, respectively, Srinagar, Shimla, and Ranchi weren’t behind either, with an uprise of 103.81 per cent, 103.05 per cent, and 192.01 per cent, as compared to ALTBalaji’s viewership from these cities in 2020,” the platform said in a statement.

  • ALTBalaji partners with Telenet to expand footprint to Nepal

    ALTBalaji partners with Telenet to expand footprint to Nepal

    Mumbai: In a bid to expand its reach beyond India, ALTBalaji has entered into a partnership with Telenet Pvt Ltd for promotion and distribution services in Nepal. The partnership aims to unlock a new demographic for the OTT player in the neighbouring country. 

    Telenet Pvt Ltd, a local company in the region is an authorised distributor-reseller of ALTBalaji app subscription. Within a single subscription, users can create five profiles and access the content across mobile devices and laptops, as well as smart TV and android boxes for the big screen experience. “OTT platforms are the next wave of entertainment. Our strategy to provide uninterrupted access to users via various business models will ensure a new dimension in collaboration for Nepal market while ALTBalaji will ensure high quality engaging content stream for the Nepali viewers,” said Telenet CEO Navankur Sood.

    Telenet will ensure integration across local billing channels like digital wallets, telecom operators and payment gateways, allowing users to activate ALTBalaji’s subscription from the comfort of their homes. In addition, all users in Nepal can visit the website www.gfsarena.com to activate the subscription or renew the service instantly. Payment can be made through digital wallets like eSewa, IME Pay and Khalti, said the statement.

    “The partnership with Telenet Pvt Ltd is a major step for ALTBalaji to go global,” said ALTBalaji SVP – marketing and revenue Divya Dixit. “ALTBalaji constantly strives to make the platform as user-friendly as possible, and this partnership will draw in more audience for our blockbuster content. Tie-ups with the payment gateways will further widen the reach of the platform due to the convenience of one-click transactions that were earlier not possible.”

  • How short video apps took media brands to masses in 2021

    How short video apps took media brands to masses in 2021

    Mumbai: “It came, it saw, it conquered…” the statement perfectly describes the meteoric rise of ByteDance-owned short video app TikTok in India. Such was the momentum created by it that by December 2020 – that just six months after TikTok was banned – the market was flooded by its Indian counterparts with Dailyhunt’s Josh leading the pack. Roposo, MXTakaTak, Chingari, Moj and others followed. 

    According to consulting firm RedSeer by April-June this year, the short-form video user base at 40-45 million creators hailing mostly from smaller towns and cities, was back to nearly 100 per cent of pre-TikTok ban, with strong loyalty to Indian apps. Monthly average users were up 1.2 times, while time spent on the apps was about 0.4 times higher.

    2021 was the time for short video app owners to tap into the goldmines that they were now sitting on. For players in the ecosystem partnerships and monetisation emerged as the key theme for the year, as all kinds of media brands like TV channels, OTT platforms and music labels latched on to the opportunity. Short-video apps were their window to ‘Bharat’.

    “Short video and entertainment platforms have seen one of the highest increases in monthly active users (MAUs) and the engagement time spent during the second wave of Covid-19. The changes in people’s emotions, platforms and emerging trends led to this growth. 

    With content offerings in 14 Indian languages, Josh boasts of 124 million Monthly Active Users (MAUs) and 60 million Daily Active Users (DAUs) coming from across 19000 pin codes in the country.

    Commenting on how the country’s dynamic digital landscape driven by ‘Bharat’ has affected partnerships and collaborations for him, Josh head of creator and content ecosystem Sunder Venketraman, says, “Tier-2 and tier-3 cities have widely been considered a niche market in terms of content, despite holding a majority of the country’s actual population. While initially it was the telcos, FMCG and handset manufacturers that targeted these markets, there has been growing interest from every major category from auto, retail, e-commerce, OTT and financial services.”

    With regard to media brands in particular, he adds, “At Josh we operate at the intersection of video and vernacular which presents a unique opportunity for media brands to reach out to a vast majority of the country’s audiences, given the growing popularity of vernacular content.”

    To promote season 15 of the popular show ‘Bigg Boss’ Josh collaborated with Voot in producing a rap song and a hashtag #BIGGBOSSS15ASLIFAN, resulting in 250 million + video views, 10,000 + UGC videos and 17 million + likes. Zee Bangla’s ‘Uma’ was promoted with a challenge around the show’s main theme Cricket. Female users on Josh were asked to balance a ball on the Cricket bat for 10 seconds. The collaboration resulted in over eight million + views, 140 + UGC videos and 630,000 + likes.

    The app also collaborated with Shemaroo, SVF Entertainment (Bengali film, television and OTT content production house), Pitaara TV (Punjabi movies channel, and recently launched OTT platform Chaupal), ALTBalaji (‘Cartel’), and ten leading music labels including Saregama. “This is revealing of how short-video apps are now a viable route for music labels to reach new audiences, and how new and upcoming artists can use platforms such as ours to reach out to niche audiences organically,” notes Venketraman.

    ALTBalaji’s senior vice-president – marketing and revenue Divya Dixit believes that such collaborations open up multiple gateways to reach out to the youth and the masses with the right message. “Short video and entertainment platforms saw one of the highest increases in MAUs, and ‘time spent’ during the second wave of Covid-19. Their tremendous growth in terms of number of content creators, brands, as well as ads on these apps, was led by changes in people’s emotions, choice of media platforms and other emerging trends,” she observes.

    A large part of ALTBalaji’s organic reach comes from short-video apps. The platform has carried out various promotional activities with the likes of Josh (‘Cartel’ and ‘Girgit’), ‘Chingari, Roposo, Moj (‘Pavitra Rishta) and Firework.

    Sharing the impact of these campaigns, Dixit states, “Our collaboration with MOJ for ‘Pavitra Rishta’ and Josh for shows like ‘Cartel’ and ‘Girgit’ helped in generating eyeballs for various show assets like songs, trailers, and dialogues that were amplified by the creators on their respective platforms via UGC push. It gave us reach in the hinterland markets, thus indirectly impacting the engagement numbers.”

    The Q COO Krishna Menon notes that while the pandemic made entertainment a bit of a challenge for most broadcasting houses and digital production houses as well, short video apps proved to be a boon for creators. “These creators are mostly the GenZ/millennials. Not only have they taken engagement on the platform higher, but are today setting day-to-day trends for people. Because The Q’s basic DNA is to work with the best of digital creators, short video platforms become like a strategic alliance for us as a source of content.”

    A recent example was the channel’s partnership with Chingari wherein it carried out digital auditions for its recently launched show ‘Jurm Ka Chehra’. Close to a million entries were received through the collaboration.  The Q runs multiple VOD platforms on Snap where the best of linear programming is cut into VOD episodes and made available for viewing. Some of the prominent platforms include ‘Daraawni Kahaaniyaan’ which has grown from few thousands to one million subscribers in the last year itself, ‘Khaao Gali’ and ‘Comedy Centre’.

    Elaborating on the significance of short video format for the Q, Menon shares, “Most broadcasting houses have their own digital storefronts. We haven’t created one for us because we want to go with those in the market. They are an additional source of revenue for us, and of entertainment for people.”

    Chingari started its collaboration journey with promoting all OTT content and moved on to launching exclusive trailers on the app, promoting web series/ music albums to now launching its own IPs.

    The app’s co-founder & COO, Deepak Salvi says, “We saw a huge surge in the time spent and engagement by users on the app during the pandemic and this is exactly what is needed by brands to promote themselves and their content. Knowing that a large population of the audience that belongs to their TG is spending time on Chingari, media companies like TV channels, OTT platforms, music labels and even production houses started associating with us for the promotion of their latest content.”

    Some of Chingari’s latest brand associations include Shemaroo Entertainment Ltd, Alt Balaji, Hoichoi, and Radio City.

    Due to the growing accessibility and affordability of the internet and the digital boost experienced in 2020-21, people in the tier 2 and 3 towns are now not only consuming content but are also very actively creating it. Salvi shares, “One of the main focus points for Chingari therefore is to create a very strong network of creators and consumers in the tier 2 and 3 cities. We are trying to reach out to the remotest areas of India by conducting events, partnering with regional content creators, OTT platforms, and music labels.”

  • ALTBalaji ropes in 11 brand partners for its show ‘Girgit’

    ALTBalaji ropes in 11 brand partners for its show ‘Girgit’

    Mumbai: ALTBalaji has roped in 11 brands for its latest thriller series “Girgit.” 

    The list of brands includes Josh (short video partner), Viral Pitch (influencer marketing partner), Invisible Gastronomy Bar (hospitality partner), The Nonsense Store (official gaming partner), Sasha Eyewear (official eyewear partner), Bollywoo (fashion merchandise partner), Abhibus (travel partner), Flyrobe  (apparel partner), Storytel (official audiobook partner), Growfitter (fitness partner), and Ferns N Petals (gifting partner).

    With 80 per cent of its audience less than 35 years of age, collaborating with youth-oriented brands will enable both ALTBalaji and the partners to broaden their reach. As these brands cover major areas of interest for the youth, it will also increase the show’s visibility, said the OTT platform in a statement.

    “ALTBalaji has cracked the code to youth engagement. This is evident from multiple success stories with its previous shows as well as our ongoing shows,” said ALTBalaji SVP for revenue and marketing Divya Dixit. 

    “This multiple brand association model for the promotion of Girgit is a new experiment that looks to be working wonders for ALTBalaji as well as the brands that have been partnered with. We hope to keep bringing about innovations in the marketing and promotional strategies that can set a benchmark for other players in the industry as well,” she added.

  • ALTBalaji direct subs up 69% YoY; half-yearly revenue at 34cr

    ALTBalaji direct subs up 69% YoY; half-yearly revenue at 34cr

    Mumbai: Balaji Telefilms announced its financial results for the quarter and half year ended 30 September 2021.

    Selling 2.9m subscriptions during H1Fy22 (vs 1.7m in H1FY21) ts streaming platform ALTBalaji reached a current active direct subscriber base of over 1.45m. This excludes subs on partner apps. Direct subscription revenues stood at Rs 34cr vs Rs 24cr. ALTBalaji contributed Rs 39cr to the half-year Group revenues at Rs 141cr

    The platform added nine shows in the half-year taking the overall library to 87. Some of the hits launched in H1Fy22 include Punchh Beat Season two, Broken but Beautiful season three, and Cartel. ALTBalaji continues its strategy of driving deeper audience engagement through differentiated content targeted at mass India.

    During the half-year, the TV business produced 363.5 hours of content across seven shows for four broadcasters. Five new shows have been lined up, and should commence shortly, it said.

    Movie business also resumed production. With five projects in the pipeline, the company said it is making good progress, even as it waits for the availability of theatrical launch windows. Deals across direct to digital are also being explored. As part of its strategy, it continues to control investments in movies and pursue pre-sales and co-production deals where feasible.

    Balaji Telefilms Limited MD, Shobha Kapoor said, “ALTBalaji continues to drive subscription growth. We added 2.9m subscriptions during the half-year. We added nine shows in the half-year and now have a very strong lineup for the rest of the year. Our strategic content-sharing deals will ensure we maintain control on the cash spends while driving overall profitability.”

    Commenting further on the TV and movies business, she added, “Our TV business has shown good recovery in terms of production hours and we hope to improve this momentum as five new shows commence. In the movie business, production for some of the exciting projects are at various stages of completion and we are closely monitoring the availability for theatrical releases as well and direct to digital launches. Overall, the year has started well and we will build on this momentum through the year.”