iWorld
Balaji Telefilms goes big on movies and OTT, trims TV bets
MUMBAI: Balaji Telefilms is flipping its script. In a year marked by a strategic overhaul, the Ekta Kapoor-backed entertainment house has declared a decisive pivot from television towards high-growth verticals: movies, digital streaming, and branded content.
Addressing analysts on its FY25 earnings call, group chief executive and CFO Sanjay Dwivedi outlined a transformation roadmap: “Movies will be our growth engine, digital will scale next, and television—once our mainstay—will become the third line of business.”
The studio reported consolidated revenue of Rs 453 crore in FY25, down from Rs 625 crore the previous year. Yet net profit surged to Rs 84.6 crore from Rs 19.4 crore, largely due to a rights-heavy strategy in film and digital. The PAT margin stood at 18.7 per cent, and the company ended the year with Rs 172 crore in cash and mutual funds.
Balaji’s OTT platform ALT Balaji saw a turnaround. Once burning Rs 120–145 crore a year, its cash burn has now dropped to just Rs 35 lakh a month. The platform added 3.29 lakh subscriptions in Q4 FY25, with total active subscribers crossing the 2 million mark.
The company is also phasing out its pure SVOD model in favour of a hybrid SVOD–AVOD play, supported by a short-form vertical content app called Kutting. YouTube strategy and advertiser-funded content (AFP) are set to bolster revenue.
Crucially, Balaji sealed a long-term content partnership with Netflix, spanning original films, binge series, telenovelas, and reality formats over 3 to 7 years. “This is not a one-off deal—it’s a foundational alliance for the future,” said Dwivedi.
Balaji is betting on movies to power future growth. It has de-risked the vertical by recouping up to 90 per cent of production costs via pre-sales and co-production deals. In FY25, films contributed 30 per cent to revenue.
Its upcoming slate includes Vrushabha (starring Mohanlal), the Priyadarshan-directed Bhoot Bangla with Akshay Kumar, and Vvan, a collaboration with TVF featuring Sidharth Malhotra.
The studio targets 6 theatrical releases per year and is building on a franchise playbook with sequels like Dream Girl, LSD, and Shootout.
TV content production touched 133 hours in Q4, with four shows on air. However, broadcaster yields remain 25 per cent below pre-Covid levels, and Balaji is cautious about further TV expansion.
“TV is a volume game now. Rates aren’t recovering. We’ll stick to 6–8 shows a year, with a cap around Rs 350 crore,” said Dwivedi.
New shows include Bade Achhe Lagte Hain – Phir Se and a reboot of Kyunki Saas Bhi Kabhi Bahu Thi.
The company is also experimenting with AI-led production, launching a series titled Kalnagri on its platform. Regional expansion is on the cards, starting with Tamil and Telugu.
On YouTube, Balaji hit 1 million subscribers in a month, banking on a mix of new shows and IP-retained repurposed content—especially as Indian viewers seek alternatives to banned Pakistani serials.
Balaji has a Rs 300 crore B2B order book from leading OTT platforms. It expects digital to contribute 20–25 per cent of revenue in two years. The company is not planning a spin-off of the digital business for now, but hints at unlocking value once scale justifies it.
“We are storytellers, not just platform owners,” Dwivedi said. “Our job is to find the next big content wave—whatever the screen.”
iWorld
Prime Video drops trailer for Lukkhe, a rap crime drama starring KING in his acting debut
Eight episodes of revenge, redemption and hard-hitting rap arrive on the streaming platform on 8th May
MUMBAI: Prime Video has unveiled the trailer for Lukkhe, an eight-episode musical action drama built around the world of rap, crime and bruised relationships — and it has done so in suitably loud fashion, launching it at a live concert in Mumbai featuring electrifying performances by KING, Amira Gill, Akshath, Raashii Khanna, Ruaa Kayy and RUTVXK. As if that were not enough, the show’s music album was also dropped at the event, in collaboration with exclusive music streaming partner Amazon Music and music label Warner Music India.
The series is directed by Himank Gaur and produced by Vipul D. Shah and Rajesh Bahl under the banners of Optimystix Entertainment and White Guerrilla LLP. It is created and executive produced by Agrim Joshi and Debojit Das Purkayastha.
The cast is the talking point. KING, the acclaimed Indian rapper and songwriter, makes his acting debut as MC Badnaam, a performer consumed by rivalry and hunger for recognition. Raashii Khanna, returning to Prime Video after Farzi, plays Gurbani. Palak Tiwari, making her streaming debut, plays Sanober. Lakshvir Singh Saran plays Lucky. The ensemble also includes Nakul Roshan Sahdev, Kritika Bharadwaj, Shivankit Parihar, Yograj Singh and Ayesha Raza Mishra in pivotal roles.
The trailer plants its flag squarely in the tension between MC Badnaam and his rival MC OG, played by Parihar, while threading in the love story between Lucky and Sanober. The soundtrack, which spans hard-hitting rap anthems to emotionally charged melodies, is as much a character in the show as any of its leads.
Gaur was candid about what drew him to the project. “Lukkhe gave me a chance to dive into a world that’s loud, emotional, and constantly on edge,” he said. “What stayed with me was how every character is chasing something personal, and music becomes their way of expressing it. Working with this cast, especially KING in his debut, along with Raashii, Lakshvir, and Palak, was incredibly rewarding because they brought honesty that elevated every moment.”
Khanna reflected on her character with evident relish. “Playing Gurbani in Lukkhe was a really intense and fulfilling experience,” she said. “What I found most interesting was how her strength comes from something deeply personal, which shapes every decision she makes. It was about finding that balance between vulnerability and grit.”
KING, stepping in front of the camera for the first time, was characteristically direct. “Stepping into Lukkhe as MC Badnaam has been a defining moment for me,” he said. “What drew me in was how real his hunger and need to be heard felt. It’s something I connect with as an artist. Bringing music into his journey made the experience even more personal.”
Tiwari described the role as a first on multiple fronts. “It was my first time working with Prime Video, and the whole experience felt new and creatively satisfying,” she said. “Being part of a story that has both intense and heartfelt moments, along with a team that brought so much honesty to it, made this journey truly memorable.”
Saran, for his part, zeroed in on what made Lucky tick. “Lucky is someone who’s trying to move forward while still carrying the weight of his past, and that push-pull made him really interesting to explore,” he said. “There’s a sincerity to his journey that I hope people connect with.”
Lukkhe premieres on Prime Video in Hindi on 8th May, across India and in more than 240 countries and territories worldwide. In a streaming landscape drowning in crime dramas, this one is betting that putting a rapper at its centre – and meaning it – is enough to cut through the noise. On the evidence of the trailer, it might just be right.
