iWorld
Have 10-12 banked shows to sustain even if lockdown continues: ALTBalaji’s Nachiket Pantvaidya
MUMBAI: Balaji Telefilms’ digital arm ALTBalaji recently completed three years. While the management always spoke of profitability and breaking even faster rather than cash-burn and tons of investment, the platform seems on track in achieving its ambitions despite the COVID-19 climate. Though production may be halted, content-hungry subscribers have flocked to the streaming service for their dose of entertainment. Despite the setback, the OTT platform is confident that it has enough shows in the bank to woo subscribers for the next few months even if lockdown persists.
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In an interview with Indiantelevision.com, Balaji Telefilms group COO and ALTBalaji CEO Nachiket Pantvaidya spoke about the growth during post COVID-19 period and overall outlook FY21.
Edited excerpts:
ALTBalaji had a good run in the first three years focusing on the Hindi-speaking market. Will there be any significant change in the content strategy going forward?
We are currently focusing on ensuring that we dominate the Hindi speaking markets and then move ahead. If you look at the geography and demography of the country, 70 per cent of the content consumed is Hindi. As a platform, it makes sense to focus your efforts in one direction and win over the Hindi-speaking population. Hence, this year we are first going to focus on ensuring that we dominate the Hindi space.
We will gradually move towards other regional markets as well in the coming years. A host of our Hindi offerings have also been dubbed in Indian and international languages like Tamil, Telugu, Malayalam, Bahasa, Arabic, etc. amongst others. We shall continue to focus on expanding our language content library in the coming years.
ALTBalaji had the mantra of breaking even within 2021 which you are nearing as per the last investors call. What will be the big target now?
ALTBalaji has been working towards its goals and is the first OTT platform already on the road to profitability. With our costs getting controlled in the first half of fiscal 2020 and the loss margin further reducing at the end of the current fiscal, we are aiming to break even in 2020-2021.
Given the national lockdown, all content production has come to a standstill; we continue to monitor the situation closely. We are very confident that the demand for content will increase once the situation returns to normal and are well prepared to resume business and ramp up content sales once the lockdown is over.
Do you expect a significantly higher-than-expected jump in FY 21 under the current situation?
We are looking at a 1.7 million active subscription base which is a high record for us. We are adding roughly 17,000–20,000 subscribers per day, that’s nearly doubling the run rate from where we were in February. In Q3, we had already said that our losses were down to single digits, and we are hopeful that in the next 12 months period, we will break even ALTBalaji's business.
Could you share the current growth under COVID-19? Which genres see more uptake? Did any particular demography or age group consume more content on the platform?
Indian originals have picked up pace in the past few days as audiences are on the lookout for local relatable content. We believe in creating shows which appeal across segments however, with narratives that are unique or untold.
For instance, shows like Kehne Ko Humsafar Hain, Karrle Tu Bhi Mohabbat, It Happened in Calcutta, Baarish, Dil Hi To Hai etc., are mostly consumed by women in 25-45 years TG across India. However, thrillers like Apharan, Ragini MMS, Code M are consumed by men in the 22-45 age bracket. In addition to the above, shows such as Mentalhood, The Test Case, MOM: Mission Over Mars, Bose: Dead/ Alive, The Verdict – State vs Nanavati are being consumed extensively by urban Indians across age groups.
Shows launched in earlier months continue to see good engagement as consumers are now watching more of the library that we have successfully built. The ALTBalaji library as of date has 60-plus shows with engaging content for mass Indian audiences.
What has been the growth of new subscribers? How will you retain them once the lockdown is lifted?
Watch times and subscriptions have been seeing strong growth during this period and we are witnessing a high level of growth in all our key markets and demographics. ALTBalaji is witnessing strong uptake of digital subscriptions with an average of 17,000 subscriptions added per day post lockdown vs an average of 10,600 in March 2020 pre-lockdown, a growth of 60 per cent. As of date, the platform has over 1.7 million active direct subscribers.
With the SVOD OTT space in the country becoming increasingly price-sensitive, we have facilitated growth by keeping our pricing extremely low, at less than a rupee a day (Rs 300/- annually). What works best for us is to concentrate on consumer segmentation behaviour, understanding how to retain the customers better and working on onboarding the new segment who have just been acquainted with the internet. With content being king, there is a growing acceptance amongst consumers to pay for unique narratives and good storytelling which keeps them hooked to their screens. Having said that, we are confident that having sampled our portfolio of exciting, original digital series to a wider audience that has a higher propensity and capacity to subscribe, we will continue as one of the top OTT platforms.
Due to the stoppage in production, do you expect any rescheduling of your content slate? Has there been any change in the guidance of expected originals during the calendar year?
So far, we are on track in terms of the show launches. We have 11-12 shows that have been shot already and only need post-production and editing, which can happen from home as well. So we actually have a stock of 10-12 shows which can be put out in the next six to seven months even if the unfortunate lockdown continues for a few more months. We are in a good position to give out one to two shows per month for the next five to six months. We are now launching, in the next 25 days, Baarish season two and KKHH season three.
How has the overall ecosystem changed since you started the journey?
Having set milestones and breaking new grounds for over three years, our journey has been fairly business-positive and will continue to do so. Since its inception, ALTBalaji has been on top of the consumer mind for its unique narratives and clutter-breaking original Hindi content and we have aggressively grown on the back of innovative business strategies. Moving from strength to strength, we’ve today become a major player in the Indian OTT industry and gained further encouragement by the massive increase in subscriber base. With a substantial bouquet of original content across genres that keeps viewers engaged, our app has consistently ranked amongst the top three grossing video streaming apps in the country across the app store (Source: App Annie).
According to a recent report by PwC, the OTT market is set to grow at a rate of 22 per cent to reach Rs 12,000 crore in the next four years. The soon-to-arrive 5G networks will only work as a shot in the arm for OTT platforms to scale further heights. Digital is an ever-evolving medium and when it comes to OTT players, competition across the industry is soaring high with everyone trying to secure their places in the minds of consumers.
Last year you struck a deal with ZEE5. How has it helped you? Are you planning any similar deal?
With our collaboration with ZEE5, we aim towards leveraging each other’s strengths in the OTT domain, to co-create original content. This association is a collaborative process of co-understanding consumer insights and co-marketing to serve the viewer better while reaping in increased dividends for both. ALTBalaji and ZEE5 have established their content strength globally, and the synergy resulted in two of the largest home-grown video streaming platforms coming together to expand their subscription base and grow the binge-watching culture globally.
ALTBalaji has also successfully completed the first-ever syndication of a digital series to a broadcaster with three hit digital shows now airing on prime time television. Karrle Tu Bhi Mohabbat, Baarish, and Kehne Ko Humsafar Hain are now available between 9 pm and 11 pm on Zee TV. This deal helped generate additional revenues via syndication fees and created a larger consumer funnel for us.
Gaming
India’s new online gaming rules take effect today, banning money games and creating a regulator
The rules, in force from today, separate e-sports from gambling and impose jail terms and stiff fines on violators
NEW DELHI: India’s online gaming sector woke up this morning to a new reality. The Promotion and Regulation of Online Gaming Rules, 2026, came into force today, May 1st, turning a year of legislative intent into enforceable law. The message from New Delhi is blunt: e-sports and social games are welcome; online money games are not.
The rules operationalise the Promotion and Regulation of Online Gaming (PROG) Act, passed by Parliament in August 2025. Together, they represent the most sweeping regulatory intervention India has made in its booming digital gaming market, one that generated Rs 23,200 crore in 2024 and is projected to grow at a compound annual rate of 11 per cent to reach Rs 31,600 crore by 2027. The stakes, in every sense, could not be higher.
A sector out of control
The urgency behind the legislation is not hard to find. An estimated 45 crore Indians have been affected by online money gaming platforms, with losses exceeding Rs 20,000 crore. Addiction, financial ruin, money laundering, and suicides have all been linked to the sector. Seventy-seven per cent of the market’s revenues came from transaction-based games, a figure that made regulators deeply uneasy.
The government’s response, effective as of today, is categorical. Online money games, whether based on chance, skill, or any mix of the two, are banned outright. So is their advertising, promotion, and facilitation. Banks and payment processors are barred from handling related transactions. Unlawful platforms can be blocked under the Information
Technology Act, 2000.
The penalties are designed to sting. Offering or facilitating online money games can attract up to three years in jail and a fine of up to Rs 1 crore, or both. Repeat offenders face a minimum of three years, extendable to five, with fines between Rs 1 crore and Rs 2 crore. Advertising such games carries up to two years in prison and fines of up to Rs 50 lakh, with repeat violations attracting higher penalties still. Cyber cell officers at state and union territory levels, including at police station, district, and commissionerate levels, are empowered to investigate offences.
The new sheriff in town
At the centre of the new framework sits the Online Gaming Authority of India, a digital-first regulator constituted as an attached office of the Ministry of Electronics and Information Technology, headquartered in Delhi. It is chaired by the additional secretary of MeitY and includes joint secretary-level representation from home affairs, finance, information and broadcasting, youth affairs and sports, and law and justice, a deliberately multi-sectoral design built for a complex sector.
The authority’s powers are broad. It will maintain and publish lists of online money games, investigate complaints, issue directions, orders, and codes of practice, hear appeals on user grievances, and coordinate with financial institutions and law enforcement to ensure effective and timely action.
Its decisions on game classification are to be completed within 90 days, a time-bound commitment that industry players have welcomed after years of regulatory ambiguity. Classification can be triggered by the authority acting on its own initiative, by an application from a service provider, or by a notification from the central government. Games will be assessed on objective factors: whether stakes are involved, whether players expect monetary winnings, the revenue model, and whether in-game assets can be monetised outside the game. The outcome is recorded in a determination order specific to the game and provider.
E-sports gets its moment
While the crackdown on money gaming dominates today’s headlines, the rules also carve out a structured path for e-sports and online social games. Registration, required when notified by the central government, applies to all games offered as e-sports and is based on factors including risk to users, scale, financial transactions, and country of origin. A successful application yields a digital certificate of registration with a unique number, valid for up to ten years. Service providers must display registration details, designate a point of contact, comply with data retention requirements, and follow directions on facilitating payments.
Online money games are explicitly ineligible for recognition or registration as e-sports under the National Sports Governance Act, 2025. The separation is deliberate, and the industry has noticed.
Akshat Rathee, co-founder and managing director of NODWIN Gaming, called today’s operationalisation “encouraging,” pointing to publisher-led registration of esports titles and a time-bound determination process as creating “much-needed certainty for all stakeholders.” He added that the “continued emphasis on clearly separating esports from online money gaming is critical in preserving the integrity of competitive gaming as a skill-driven discipline.” He described it as “a proud moment to see official acknowledgement of the broader benefits of responsible esports and gaming, from building confidence, discipline, and teamwork to creating new career pathways for young talent,” and said the framework sets “a strong foundation for the ecosystem to scale in a more structured and globally competitive manner.”
Animesh Agarwal, co-founder and chief executive of S8UL, was equally bullish. “This clarity is critical in unlocking investor confidence and attracting multi-genre brands, while also enabling organisations to take a more long-term view, whether in investing in talent, scaling teams, or building globally competitive formats,” he said, adding that it “strengthens trust among audiences and mainstream stakeholders, positioning esports not just as a sport, but as a fast-growing youth entertainment category in India.”
But Agarwal urged caution on several fronts. There remains limited clarity around financial frameworks, particularly in how esports earnings are treated by banks and financial institutions. A well-defined pathway for the formal recognition or registration of esports teams is still evolving, as are structured player protections. He also called for smoother visa processes for esports athletes competing in international tournaments and for government support in developing infrastructure, including bootcamps, training facilities, and access to high-performance equipment across titles.
Vishal Parekh, chief operating officer of CyberPowerPC India, pointed to downstream effects on education and careers. “With formal recognition and policy backing, colleges and institutions are more likely to take the sector seriously, whether through dedicated esports infrastructure, training programmes, or curriculum integration,” he said, adding that this helps students view gaming as a viable career spanning roles across competitive play, content, game development, and allied industries. He noted that as esports gains prominence in global multi-sport events, the framework strengthens India’s position in international competitive gaming, and called on the ecosystem to provide the right infrastructure and access to high-performance hardware to unlock opportunities in talent development and job creation.
Protecting users, one safeguard at a time
The rules introduce a layered system of user protections calibrated to the risk profile of each game. These include age verification, age gating, time restrictions, parental controls, user reporting tools, counselling support, and fair-play and integrity monitoring. Service providers must disclose their safety features and internal grievance mechanisms when applying for determination or registration.
A two-tier grievance redressal system sits atop these safeguards. Users who are dissatisfied with a platform’s resolution can escalate to the authority within 30 days. The authority aims to dispose of such appeals within a further 30 days. A second appeal lies before the secretary of MeitY, who must also endeavour to resolve matters within 30 days. Enforcement proceedings will be conducted in digital mode wherever possible, with cases targeted for resolution within 90 days from receipt of a complaint.
Penalties under the framework are proportionate, taking into account gain from non-compliance, loss to users, the gravity of the offence, and whether violations are recurring. Mitigation efforts by service providers will also be considered when determining penalties. All penalties imposed under the Act will be credited to the Consolidated Fund of India.
The money follows the rules
For investors and founders, the implications are immediate and significant. Sagar Nair, head of incubation at LVL Zero Incubator, a 100-day sprint designed to accelerate early-stage gaming startups across India, argues that with real-money gaming now prohibited, capital will shift “away from transaction-driven models toward content-led, IP-driven, and global-first gaming businesses.” He acknowledged trade-offs: for operators with exposure to real-money formats, the market becomes more restrictive in the near term. But he argued that by clearly separating esports and non-money gaming from online money gaming, “India is positioning itself as a hub for responsible, creative, and scalable game development.” The opportunity, he said, is “to view India not just as a monetisation-first market, but as a talent, IP, and scale market,” adding that “for founders and investors willing to adapt, this shift could ultimately strengthen India’s position in the global gaming landscape.”
The government frames the wider impact in equally ambitious terms: a boost to India’s creative economy and digital exports, new career pathways for young people, protection for families from predatory platforms, and a stronger voice in global digital governance. India, it argues, offers a model for other countries grappling with the same tensions between gaming’s economic promise and its social risks, one that shows innovation and strong safeguards need not be mutually exclusive.
Whether the framework delivers on those promises will depend on enforcement, always the hardest part. But from today, the architecture is firmly in place: a regulator with teeth, a classification system with deadlines, penalties designed to deter, and a clear dividing line between games that build careers and games that destroy finances. For a sector that has grown fast and governed itself loosely, May 1st, 2026 is the day the free ride ends.
