In Q4 2017, the apps for ALT Balaji, Balaji Telefilms's streaming service, were downloaded over 2 million times in 75 countries, though the company did not disclose how many of those translated into paid subscriptions. The digital business is balance sheet negative because of continuing investments to scale it. Their TV revenue also declined slightly from the previous quarter, because two shows were discontinued in Q4 -- however, their TV revenue was significantly higher than the same quarter last year, at Rs 80.9 crore, compared to Rs 55.6 crore in Q4-16. Their earnings per hour of programming also increased modestly over the previous quarter. Balaji didn't release any films this quarter, leading to a YoY decline in their quarterly revenue, from Rs 18.7 crore in 2016 to Rs 10.5 crore this year. The company claimed in its investor presentation that…
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