Balaji Telefilms is planning to launch an over-the-top video service called ALT.
The film and television production company, Balaji Telefilms, is reportedly introducing the new video service via its subsidiary ALT Digital Media Entertainment. The OTT platform is expected to compete against other services in the Indian video streaming market such as HOOQ, Ditto TV and ErosNow.
Balaji intends to invest as much as INR2.5 billion in the OTT platform, a person familiar with the development told TelevisionPost. OTT app ALT will be priced at about INR50 a month.
“We are launching an OTT service called ALT through our subsidiary company. We are planning to launch the service in the January–March period,” said Balaji Telefilms group CEO Sameer Nair, according to Television Post.
Unlike other platforms, such as HOOQ and ErosNow, Balaji’s OTT app will showcase original content.
“We will only have new content that is not available on any other media. This will be our differentiator. While other OTT platforms like Hotstar, Ditto TV, Sony Liv and Eros Now will mainly have shows that are on TV or movies that are available on other delivery vehicles, our content will be entirely new,” the source told TelevisionPost.
In related news, Balaji Telefilms reported an 80.28% dip in consolidated net profit for the period ended 30 June; from INR105.5 million to INR20.8 million. The production recently launched its digital content arm and had hinted at developing new shows for online platform
“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,” Ekta Kapoor, Joint Managing Director, Balaji Telefilms Ltd, had earlier said in an interview.