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<ul><li><keyword id="4241922" type="PERSON" weightage="20" keywordseo="ALTBalaji">ALTBalaji</keyword> direct subscriptions up 35% QoQ. </li><li>It added 6 new shows in the quarter, taking its overall library to 86 shows. </li></ul><keyword id="5214" type="COMPANY" weightage="20" keywordseo="Balaji-telefilms">Balaji Telefilms</keyword> announced its financial results for the quarter ended 30th June 2021. ALTBalaji remains one of the most consistent hit content creators for OTT adding 6 shows in the quarter taking the overall library to 86 shows. The company sold 1.8m subscriptions during the quarter and currently has an active direct subscriber base of over 2.4m. This excludes subscribers on partner apps where the content continues to do well. The company continues its strategy to drive deeper audience engagement by creating content that is targeted at mass India seeking differentiated stories. The platform has over 86 shows and some of the hits launched this quarter include Punchh Beat Season 2 and Broken but Beautiful 3. <keyword id="154993" type="PERSON" weightage="20" keywordseo="Shobha-Kapoor">Shobha Kapoor</keyword>, Managing Director, <keyword id="1227219" type="PERSON" weightage="20" keywordseo="Balaji-Telefilms-Limited">Balaji Telefilms Limited</keyword> said, “ALTBalaji continues to drive subscription growth and we added 1.8m subscriptions during the quarter. We added 6 shows in the quarter and now have a very strong line up for the rest of the year. Our strategic content sharing deals will ensure we maintain 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 5 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.” OPERATIONAL and FINANCIAL HIGHLIGHTS <ul><li> ALTBalaji total subscriptions sold for the quarter at 1.8m vs 0.9m in Q1FY21, direct</li><li>subscription revenues at Rs 17cr vs Rs 13cr</li><li>Current active subscriber base at 2.4m and 86 shows live on the platform</li><li> TV business continued at normal in Q1 with 174.5 hours of production across 6</li><li>shows and strong pipeline for the year</li><li> Movies current pipeline include 5 exciting projects</li><li>Overall financial performance for the quarter</li><li>Group revenues at Rs 65cr of which ALTBalaji contributed Rs 21cr</li><li>Group EBITDA loss at Rs 30cr and Loss after tax at Rs 34cr</li><li>Group liquidity and balance sheet with current cash and cash equivalent balance at</li><li>Rs 138 cr</li></ul>

ALTBalaji's total subscriptions sold for the quarter at 1.8 million vs 0.9 million in Q1FY21;direct subscription revenues at Rs 17 crore vs Rs 13 crore

<ul><li>One of India’s biggest producers, <keyword id="6354597" type="PERSON" weightage="20" keywordseo="Ekta-Kapoor">Ekta Kapoor</keyword>, says streaming giants will go for movies which are economical. </li><li>She suggested Indian film makers to start producing cost-effective films so that they can approach OTT players in case they are unable to release their films theatrically. </li><li>Kapoor is confident that people will still watch films — even if they stream it online. </li></ul>Indian film and television producer Ekta Kapoor believes the budgets for movies should go down by at least 30% post the COVID-19 crisis. “I would say to keep in mind that tomorrow supply vs demand might change with different apps, because there are only three or four big apps picking up films people like us will be making more content instead, they will have to deliberately keep cost at 30% lower, one sector i.e theatres have gone down,” Ekta Kapoor, Joint Managing Director and Creative Head of '<keyword id="1227219" type="COMPANY" weightage="20" keywordseo="Balaji-Telefilms-Limited">Balaji Telefilms Limited</keyword>', told Business Insider in its latest episode of the Big reset. <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="63" retweetcount="35" status="#TheBigReset | @Biindia's @iyer_sriram speaks to @SunjoyJ of @orfonline, @BTL_Balaji's @ektarkapoor, @oyorooms'… https://t.co/KazRSOwkCG" createdat="1591785193000" id="1270665315731386369"></div> Kapoor is the Managing director of Balaji Telefilms and is famous for producing some of best-selling soap operas for more than two decades. She suggested Indian film makers to start producing cost-effective films so that they can approach OTT players in case they are unable to release their films theatrically. “Since everyone is aware of the situation being so drastic, the industry must come together and say let’s make cost-effective films, tomorrow if they don’t release in the theatres there are many apps,” Kapoor told Business Insider “Film will be watched” While India was under lockdown, the multiplexes did not only lose ticket sales but also sales from pricey food and cold drinks served within the theatres. This, in turn,will reduce the returns multiplexes used to share with the film producers. “We (Balaji telefilms) are now pumping more money into films because we believe deliberation will lead to celebration — and it takes one and half to a year to make a movie. We’re hoping that there is a mindset change and we are investing” Kapoor says Balaji telefilms simultaneously is also investing in digital platforms now and television. “We are not scared as the producers of the industry know if the film can’t be released automatically there’s a digital platform where the film will be watched,” Kapoor added. SEE ALSO: <a href="https://www.businessinsider.in/international/news/a-chinese-company-trump-tata-nano-by-selling-the-worlds-cheapest-car-but-it-still-looks-like-a-giant-matchbox/articleshow/76300728.cms">A Chinese company trump Tata Nano by selling the world’s cheapest car — but it still looks like a giant matchbox</a> <a href="https://www.businessinsider.in/thelife/personalities/news/arun-bharat-ram-and-arvind-lal-the-two-businessmen-became-billionaires-during-the-lockdown/articleshow/76297080.cms">Arun Bharat Ram and Arvind Lal — the two businessmen who became billionaires during the lockdown</a>

Indian filmmakers should cut production cost by at least 30%, says Ekta Kapoor

<keyword id="5214" type="COMPANY" weightage="100" keywordseo="Balaji-telefilms">Balaji Telefilms</keyword>, the production house that has been munching stereotypical saas-bahu sagas in the name of entertainment for quite some time now, seems to have come of age. Catching up with the trend of going digital, Balaji has come up with a digital platform called ALTBalaji, which they say houses the biggest library of original exclusive digital content in India. With varied shows that cater to a different audience than Balaji’s usual, the platform has had an overwhelming response, says CEO <keyword id="158783" type="PERSON" weightage="100" keywordseo="Nachiket-Pantvaidya">Nachiket Pantvaidya</keyword>, adding that they have got close to four million downloads and customers from more than 80 countries. Unlike other players in the industry that offer viewers a free period to watch their shows, ALTBalaji provides them with free episodes of every show on <keyword id="10879" type="CITY" weightage="100" keywordseo="YouTube">YouTube</keyword>, and when they like it and want to proceed with further episodes, they can subscribe to the service. Pantvaidya feels that even though rival platforms were launched before ALTBalaji, their timing couldn’t have been better because of demonetisation and <keyword id="6354504" type="UNKNOWN" weightage="100" keywordseo="Reliance-Jio">Reliance Jio</keyword>’s launch, which made an average Indian more digital- and internet friendly. Talking of the future, Pantvaidya says that India is still afar from the time when internet would replace television, but digital entertainment channels still have three defined types of audience to cater to: Indian men, who don’t have anything to watch on the television; people who would like to watch a finite series with limited episodes; and lastly, audiences who want to see better production values, which sadly Indian television can’t provide because of the compulsion of daily episodes. To gain massive success, he says that digital entertainment platforms need to create a habit of OTT viewing in Indian audience, and have affordable subscription plans to further attract them. Also, commitment to good characters and good stories is important as well. About the transition from television to internet, he says that the transition required us to deep-dive and come up with shows that were not typically Balaji-types, in order to create a variety. When asked why there’s a sudden shift from television to internet, he credits the speed and spread of internet and the technology of internet-ready devices, which has led to people watch digital shows at great speed, from anywhere across the country, and on bigger screens as per their preference. While Balaji has been stereotyping women and men in gender roles for as long as we remember, ALTBalaji, Pantvaidya suggests, is doing the opposite by bringing out female characters that defy these stereotypes. In <keyword id="4302697" type="UNKNOWN" weightage="100" keywordseo="Karrle-Tu-Bhi-Mohabbat">Karrle Tu Bhi Mohabbat</keyword>, Sakshi Tanwar’s character is a single, working woman who is committed to her profession. In the female-centric show of DevDD, lead character Devika is taking on the system, standing up for women and their right to express themselves. Even in <keyword id="4408510" type="UNKNOWN" weightage="100" keywordseo="bewafaa-sii-wafaa">Bewafaa sii Wafaa</keyword>, the female lead Meghna, played by <keyword id="444213" type="UNKNOWN" weightage="100" keywordseo="Aditi-Vasudev">Aditi Vasudev</keyword>, has an affair, which you won’t see in any of the shows that Balaji has produced. While we don’t agree with the idea that in order to appear modern and unconventional, a woman needs to have an extramarital affair, we understand what he means by saying that the women in these shows are different from their television counterparts. Speaking of the financial aspects of these web series, they work on a subscriber model and not an advertising model. Therefore, they need to give it some time to work to return money. While they get new subscriptions every month, they are also coming up with a new show every 15 days, so it’s difficult to decide as of now if a particular show is financially working or not. About a year or so down the line, they might also have some way to measure the success of individual shows, but it’s too soon to talk about that, signs off Pantvaidya.

In conversation with ALTBalaji CEO Nachiket Pantvaidya on foraying into digital space

<ul><li>The 30-share BSE index was trading 0.56% higher; while the NSE Nifty jumped 62.90 points at 9:50 am. </li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market index Sensex jumped over 200 points in early trade on Tuesday driven by gains in index-heavyweights TCS, Infosys and HDFC amid positive cues from global markets. They have now pared their morning gains, led by fall in the banking stocks. The 30-share BSE index was trading 0.56% higher; while the NSE Nifty jumped 62.90 points at 9:50 am. These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td></tr></tbody></table>*as of September 29, 10:00 am These are the top stocks in news today. Shalby gains 4% The shares of Shalby Limited were trading 4% higher after the board approved the decision to reduce promoters’ shareholding in the company to 75% from the current level of 79.45%. The company will issue equity shares and convertible securities up to ₹ 117.02 crore, it said. Maruti Suzuki India up over 1% The automaker Maruti Suzuki India was trading 1% higher after Morgan Stanley, and HSBC upgraded their ratings to ‘Buy’. The Morgan Stanley revised target price is now at ₹7,570 a share. Anuh Pharma surges 5% The shares of Pharma major Anuh Pharma were up 5% on September 29 after it received approval from the World Health Organization— Geneva Prequalification for Pyrimethamine API, which is used as antimalarial drugs. Tata Consultancy Services up 4% Tata Consultancy Services (TCS) shares were trading 4% higher after the IT major told investors that it won four Stevies at the 2020 International Business Awards. TCS was recognized with two Gold Stevies, one Silver Stevie and one Bronze Stevie for achievements in North America and India, the company said. Hero MotoCorp gains 2% Extending gains for the second day, Hero MotoCorp shares were trading 2% higher after <a href="https://www.newindianexpress.com/business/2020/sep/26/hero-motocorp-harley-engaged-in-advancednegotiations-2202082.html">news reports</a> surfaced that the US-bike maker Harley Davidson is in talks with the Indian two-wheeler major to enter into a distribution arrangement. Infosys surges 2% The shares of IT major Infosys surged over 2% after its wholly-owned subsidiary EdgeVerve Systems recently signed a partnership with Minit, a leader in process mining, to help clients accelerate process excellence. The company said it would jointly create a solution that will empower enterprises with superior insights for business transformation, leading to better operational efficiency and enhanced business results. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/uti-amcs-2160-crore-ipo-opens-today-heres-all-you-need-to-know/articleshow/78376756.cms" data-type="tilCustomLink">UTI AMC’s ₹2,160 crore IPO opens today — Here’s all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-infosys-central-bank-of-india-dhfl-anuh-pharma-shalby-balaji-telefilms-and-others/articleshow/78376167.cms" data-type="tilCustomLink">Top stocks to watch— Infosys, Central Bank of India, DHFL, Anuh Pharma, Shalby, Balaji Telefilms and others</a>

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ALTBalaji's total subscriptions sold for the quarter at 1.8 million vs 0.9 million in Q1FY21;direct subscription revenues at Rs 17 crore vs Rs 13 crore

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Indian filmmakers should cut production cost by at least 30%, says Ekta Kapoor

Preeti Soni

In conversation with ALTBalaji CEO Nachiket Pantvaidya on foraying into digital space

Nandini Sharma

Top stock movers — TCS, Wipro, Infosys, Maruti Suzuki, Hero Motocorp, Anuh Pharma and more

Navdeep Yadav

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