iWorld
ALTBalaji subscription up by 42% y-o-y in FY21
KOLKATA: ALTBalaji seems to be driving the growth of Balaji Telefilms with a 42 per cent growth in subscriptions for FY21. The platform sold a total of 4.7 million subscriptions for the year, compared to Rs 3.4 million in FY20.
Despite the speedy growth of ALTBalaji, overall financial performance for the year was impacted by the pandemic-led restrictions on the TV and movie business. Balaji Telefilms’ consolidated revenue stood at Rs 293.7 crore for FY21, compared to Rs 573.6 crore. TV business returned to more normal production in Q4 With 223 hours content produced in the quarter, the company stated in a statement.
Four shows were on air during the quarter. Hourly realizations remained soft at Rs 30 lakh per hour and it is expected to remain soft as broadcasters continue to assess Covid 19 impact, the company stated.
“ALTBalaji continues to drive subscription growth and we added 4.7m subscriptions during the year, the highest since our launch four years ago. We have also done strategic content-sharing deals with two large OTT players to drive creative synergies. We will continue to see strong subscriber additions with over 40 shows greenlit,” Balaji Telefilms managing director Shobha Kapoor said.
“After the initial setback in the first half of FY21 our TV business has shown good recovery in terms of production hours and we hope to maintain this momentum. In the movie business, production for some of the exciting projects are at various stages of completion. We are closely monitoring the availability for theatrical releases as well and direct to digital launches. Overall, the business has performed well in very challenging conditions and I am confident we will build from the base created,” Kapoor added.
Meanwhile, the Board has considered and approved a dividend of ten per cent (Rs 0.20 per share) subject to shareholder approval. It is going to highly focus on maintaining liquidity and balance sheet strength through the year with the current cash and cash equivalent balance at Rs 144 crore.
iWorld
Anirudh Ravichander and Universal Music India join forces to take South India’s sound to the world
The composer behind 13 billion streams launches Albuquerque Records with UMI as its exclusive global partner
MUMBAI: Universal Music India has struck an exclusive partnership with Albuquerque Records, the freshly minted independent label of singer-composer Anirudh Ravichander, in a deal that bets big on South India’s booming pop and hip-hop scene going global.
The arrangement, announced on 17 March, will see Universal Music India handle future pop and hip-hop releases by Anirudh himself, as well as artists signed to the new label. A first release is already in the pipeline for April, featuring Anirudh.
The numbers behind the man are hard to ignore. Debuting in 2012 with the viral sensation “Why This Kolaveri Di”, Anirudh has since clocked over 13 billion audio streams across more than 770 tracks, cementing his position as the No.1 South Indian artist on Spotify by total streams. His fingerprints are all over some of the Tamil film industry’s biggest musical moments, from Hukum and Vaathi Coming to Arabic Kuthu and the A23 Theme.
But Albuquerque Records is a different beast. Built for the non-film space, it is designed to nurture independent talent and champion the next wave of Indian pop voices. “Universal Music India’s leadership in pop and hip-hop made them the natural partner,” said Anirudh. “I’m excited to take independent voices to audiences around the world.”
Universal Music India’s chairman and CEO Devraj Sanyal was equally effusive. “Anirudh represents the future of Indian music, bold, original, and with enormous potential,” he said. “Identifying transformative talent is our superpower, and this partnership reflects that belief.”
Sanujeet Bhujabal, managing director of Universal Music India, framed the deal as more than a distribution play. “Albuquerque Records represents Anirudh’s bold artistic vision in the world of pop and hip-hop,” he said. “True to his legacy of innovation, this partnership is set to establish yet another landmark creative space, this time for the emerging world of iPop and beyond.”
For Universal Music India, the deal deepens a long-running push into South India’s four key language markets: Tamil, Malayalam, Kannada and Telugu. The label already has regional imprints, film partnerships with Maddock Films and Excel Entertainment, and a growing non-film roster. Landing Anirudh, arguably the south’s most bankable music brand, is a statement of intent. South Indian music has the streams. Now it is coming for the world.
