ALT Balaji Plans to Invest Rs 500 Crore To Enhance Customer Base
The Balaji Telefilms owned video on demand platform, ALT Balaji has major plans to invest up to Rs 500 crore over the next three years. The Reliance-Jio backed company aims to make its content offerings strong and sturdy.
The subscription-based video platform began to operate last year in April and now its objective is to highly increase its customer base and double the number of subscribers from 2.8 million currently to over 8 million by 2021, excluding the Jio customers.
"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," said Nachiket Pantvaidya, CEO of ALTBalaji.
The CEO also stated that almost 95 percent of the content on ALT Balaji is original and fu...