OML Entertainment focuses on new overseas markets to boost revenue growth
OML Entertainment is driving an aggressive revenue growth strategy as it enters new international markets, grows its artist management roster, and develops diverse content for top streaming platforms, Gunjan Arya, chief executive of the company told ET.
The company had a top line of over ₹330 crore in FY23 and expects a significant jump in FY 24, Arya said.
In FY23, the digital entertainment company recorded a strong double-digit growth in revenue mainly on the back of its strong performance internationally in the branded content segment and tours by its artists.
Arya said the company's objective in FY24 has been to maintain profitability and competitiveness in its three key verticals — artist management, content production, and brand solutions. She said OML also sees big opportunities in untapped markets like Japan and China.
«Our artist management has expanded its roster with diverse talents, the OTT content segment is poised for success with upcoming releases, and our branded content initiatives continue to make remarkable strides in both domestic and international markets,» Arya said.
OML, which started as an artist management company, has over the years pivoted to content production in a big way, even as it strengthens its position in the artist management and branded content segments.
In the last few years, the company has exited non-core businesses like online ticket sales and live events to focus on the three verticals. In 2021, the company sold its live events and IP business, comprising properties like NH7 Weekender, to Nazara-backed Nodwin Gaming for ₹73 crore.
