On Jul 21, 2017 Mukesh Ambani bought 25% stake in Balaji Telefilms for ₹413 crore, or ₹164 per share.
ALTBalaji, a subsidiary of Balaji Telefilms, is a subscription based video on-demand service with 32 original shows in Hindi, Bengali, Tamil and Gujarati.
ALTBalaji has 4 million downloads currently with 6 shows and looking at 40 shows a year going forward. It doesn’t need capex for the next 5 years. According to Ekta, the shows have just begun.
It is looking at 4 million subscribers by 2020. ALTBalaji app is available in 80 countries.
Netflix produced 600 hours of original content globally in 2016, whereas ALTBalaji plans to produce 250 hours of original content this year.
Reliance Jio will get access to the content generated by Balaji.
Amazon Prime and Netflix are global brand, but no distribution power. ALTBalaji has got access to Jio’s distribution network.So it is the only OTT platform in India with content and distribution.
RIL bets on Balaji Telefilms. Watch video: [CNBC]