Terming it as the next growth driver for the company, Ekta Kapoor promoted Balaji Telefilms has forayed into digital content business with the launch of ALT Digital Media Entertainment.
ALT Digital Media will create original, ad-free digital content for the entire connected ecosystem spanning mobiles, Internet, smart TVs, tablets, boxes, and play stations, the company said.
Meanwhile, the company has posted an 80.28 per cent dip in its consolidated net profit at Rs 2.08 crore for the first quarter ended June 30, 2015, as against Rs 10.55 crore in the same period a year ago.
Its net sales in the quarter under review stood at Rs 74.63 crore, down 44.85 per cent from Rs 135.33 crore in the corresponding quarter of the previous fiscal.
Balaji is also roping in a team of talented professionals and is gearing up to launch in early 2016. Balaji says it will move “beyond the current themes of television entertainment to set a new benchmark with younger, edgier, and smarter contemporary content that merits a different medium”
In addition to developing its own platform, ALT Digital Media is also in advanced discussions to seek synergistic associations and partnerships with technology and video distribution platforms.
Ekta Kapoor, Joint Managing Director, Balaji Telefilms Ltd said, “Our foray into the digital space is aligned to our strategic intent to tap into the growing digital video phenomenon, where we bring our unique story telling strengths to create compelling content and deliver it directly to audiences who are always connected and seek quality, original entertainment in new formats.”
This is the group’s second attempt at digital. It had first launched a series of digital initiatives a couple of year back with a show called Bol Niti Bol . Apart from Bol Niti Bol , Balaji’s digital content foray had included entertainment recruitment portal Hoonur.com as a social network for those looking to work in the entertainment industry. The site is now offline.