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Digital entertainment company Silly Monks reports profit of Rs 2.12cr in FY18

Digital entertainment company Silly Monks, which opened its IPO early this year, reported a consolidated revenue of Rs 15.76 crore in the fiscal year 2018, up 31% as compared to Rs 12 crore in FY 2017.

The Hyderabad-based company, which listed on SME listing platform of the National Stock Exchange- NSE Emerge- posted a profit of Rs 2.12 crore in FY 2018, up 34% from Rs 1.58 crore last fiscal year

Incorporated in 2013, Silly Monks is an entertainment & media startup which focuses on areas such as digital media publishing, movie/content production, celebrities social media management, app development,  audio content Distribution, Google Ad word and digital Advertising, event management, and live band performances. The company publishes digital content on various platforms, such as Saavn, YouTube, Facebook, Vuclip, Amazon etc. The contents that are published on these platforms are either created by the company by its in-house production or acquired through outright purchase or through syndicated method.

Operational Highlights

  • Silly Monks said in its statement that the company is associated with platforms like Amazon Prime Video, YouTube, Yahoo, Yupp TV, Viu, Spuul, Hungama, Facebook, Idea, Zee5, amongst others. It added that the company has produced Telugu web series GangStarsTrailer which is launched as Amazon Prime exclusive, and the same series will be available in Hindi and Tamil as well.
  • Creator acquisitions:  Silly Monks also acquired YouTube Short Film channel in Tamil, called Tamil Short Cuts, which added to company’s subscriber base on YouTube, the company said. Silly Monks has a total of 2, 92,000 subscribers on YouTube.  The company reports 10 Billion minutes of watch time in FY 2018, up 121% as compared to 4.32 billion minutes of watch time last year.
  • Content acquisitions: The company acquired about 1200 short films in various south India languages and about 150 music videos during FY 2017-18.
  • New office: Opened new offices in Chennai and Kochi and said in the statement that more offices are in the pipeline to strengthen its presence in South.

Read: Lowdown of Silly Monk’s prospectus

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