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Shemaroo new media revenues up 41.7% to Rs 28.53 crores

Shemaroo’s new media revenues increase by 41.7% to Rs 28.53 crores, up from 20.15 crores in Q1-FY17. In the preceding quarter, the company reported new media revenue of Rs 24.76 crore, prior to which it had reported Rs 23.51 crores in Q2, and Rs 23.95 crores in Q2.

While new media accounted for 27.8% of Shemaroo’s overall operating income, it’s not lost on us that Traditional Media revenues declined by 1.5% year on year, and just a year ago, new media was 21.18% of total revenues for Shemaroo. Growth is coming from new media, and the launch of multiple video platforms is helping Shemaroo. From its annual report:

“On a positive note, this year also saw the entry of various new OTT platforms in India, with players such as Netflix, Amazon Prime, Vuclip and many others entering the Indian digital entertainment space. Additionally, leading broadcast networks, production houses and content owners also launched OTT platforms, creating more avenues for a company like Shemaroo to monetise its content”

Traditional offline revenues stood at Rs 73.82 crores, down 1.5% from Rs 74.96 crores in the same period last year. Overall, the company made Rs 102.34 crore in revenue during Q1FY18, which is up 7.6% YoY from Rs 95.09 crore.

Shemaroo’s net profit after tax stood at Rs. 15.93 crores crore for the quarter, up 12.3% YoY from Rs. 14.18 crore in the same period last year, along with a Profit After Tax Margin (PAT) of 15.2% in Q1FY18 as compared to 14.7% in Q1FY17.

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: Sharp rise in views

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 Shemaroo claims to have crossed 350 million views on YouTube by the end of June 2017. As you can tell, it has been a fairly sharp rise in views for the company. At the end of March, this was at 300 million.

In its earnings conference call last quarter, Shemaroo said that “full impact of cheaper data pack in terms of video consumption has really been seen on the views trajectory of the YouTube, which has continued to grow sharply,” but at that time, “monetisation visibility [had] not caught up in this partly due to demonetisation”, but also, “the spends on digital media, which have grown much, much slower than the viewership has actually grown, so that has resulted in a fall in the ad rates on digital media. ”

The company has a network of 75 channels on YouTube with a cumulative subscriber base of 8,145,336 subscribers. The company:

  • Crossed 3 million subscribers on its channel ShemarooEnt on YouTube
  • Crossed 3 million subscribers on its channel FilmiGaane on YouTube. This channel also crossed 2 billion cumulative views.
  • Crossed 500,000 subscribers on its YouTube channel Indian Comedy

Shemaroo also pointed out that some brands have pulled advertising from YouTube owing to their ads being shown next to hateful and offensive content. “As a result, YouTube has implemented stricter brand safety guidelines and therefore stopped monetizing certain videos.” We’re not sure of whether this would have impacted Shemaroo’s videos, but the target of such action was meant to be hateful videos largely in the US and Europe.

Earnings release

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