Balaji Telefilms invests ₹795 cr in its OTT Arm
Balaji Telefilms has made a cumulative investment of Rs 795 crore in its over-the-top (OTT) subsidiary ALT Digital Media Entertainment, the content production company said in its annual report for 2023-24.
The subsidiary owns and operates entertainment streaming platform ALTT, which was earlier known as ALT Balaji. The platform was launched in April 2017 as part of Balaji Telefilms’ expansion into the business-to-consumer segment.
Apart from the investments, Balaji Telefilms also provided loans, including interest accrued thereon, aggregating to Rs 103 crore. The company's trade receivables outstanding stood at Rs 18 crore as of March 31.
The company also stated that ALT Digital Media Entertainment has been valued at Rs 1,209 crore, reflecting a 32% premium over its carrying cost, according to a valuation exercise conducted by Balaji Telefilms through one of the Big Four independent valuation firms.
It added that the premium highlights the impact of the strategic changes implemented by ALT Digital over the past year.
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