Bollywood aggregation and production firm Shemaroo posted new media revenue of Rs 23.5 crore for the quarter ended December 2016 (Q3FY17), up 41.6% Year-on-Year (YoY) from Rs 16.6 crore in the same quarter last year. In the preceding quarter, the company reported new media revenue of Rs 23.95 crore.
However, Shemaroo’s new media revenue accounted for only 17% of the overall revenue. The company made more money (83%) via traditional offline media operations, which stood at Rs 89.2 crore during the quarter, up 5.7% YoY from Rs 84.4 crore. Overall, the company made Rs 112.7 crore in revenue during Q3FY17, which is up 11.6% YoY from Rs 10.1 crore.
Shemaroo’s net profit after tax stood at Rs. 14.5 crore for the quarter, up 13.4% YoY from Rs. 12.8 crore in the same period last year along with a Profit After Tax Margin (PAT) of 12.6% in Q3FY17 as compared to 12.7% in Q3FY17.
Founded in 1962, Shemaroo Entertainment provides services including content creation, aggregation, and distribution with a content library of over 3400 titles. The company distributes content for satellite channels, telecom operators, sells physical format CDs and streams content on digital mediums like mobile, Internet, broadband, IPTV and DTH, among others.
Digital business highlights:
– Shemaroo’s claims to have crossed 2 billion views on YouTube during the quarter ended December 2016 (Q3FY17). This is up from 1 billion views that it reported in the previous quarter. The company has a network of 75 channels on YouTube with a cumulative subscriber base of 8,145,336 subscribers.
– The company renewed a content partnership deal with streaming provider Vuclip during the quarter. It currently has partnerships with platforms like Hotstar, HooQ, iTunes, Google Play, among others.
-Shemaroo claimed that “there is a significant spike in overall YouTube views in Q3” due to Reliance Jio’s free data offer followed by similar data pack offerings by other rival operators. However, the company did not provide data on how the spike in data usage may have influenced revenue.
– The company has recently appointed Zubin Dubash as its new Chief Operating Officer for its New Media business segment. Dubash joined Shemaroo from AppsDaily, where he was Chief Product and Strategy Officer.