Balaji Telefilms to invest Rs 500 Crore, in their Video on demand platform, ALT Balaji over the course of 3 years, to majorly strengthen its content offerings.
ALTBalaji CEO Nachiket Pantvaidya told, "We plan to invest Rs 150-170 crore every year, out of which 70% would be invested in strengthening our content offerings. Over the next 3 years, we plan to invest Rs 450-500 crore,"
ALTBalaji, is aiming to launch upto 45-50 shows, in the next 2 years, it currently has 21 Original shows on it’s platform and 32 shows in total. ALTBalaji started its operations in April 2017 and has a current subscriber base of 2.8 million, which they plan to double with the new investment.
The company had then announced that this investment would be utilised to speed up content development, especially for ALTBalaji, to help it compete and be at par with the current leading platforms both nationally and globally.
In July 2017, Reliance acquired 25% stake in Balaji Telefilms, worth 413 crore.