Shemaroo Q3 consolidated revenue down 9.3% to Rs 88 cr
The company's digital media revenue fell 17.2% to Rs 39.9 crore; traditional media revenue was down 1.5% at Rs 48.1 crore.
Shemaroo Entertainment's revenue for the quarter ended 31st December 2020 has declined 9.3% to Rs 88 crore from Rs 97 crore in the corresponding quarter of the previous fiscal.
Digital media revenue fell 17.2% to Rs 39.9 crore. Traditional media revenue was down 1.5% at Rs 48.1 crore.
Total expenses increased to Rs 89.88 crore from Rs 85.5 crore a year ago. The company posted a net loss of Rs 1.7 crore as against a net profit of Rs 8.7 crore. EBITDA declined 64% to Rs 7.1 crore from Rs 19.5 crore.
The company stated that the quarter witnessed a resumption in economic unlock and hence advertising spends. It was backed by the festive season and an overall reduction in the fresh Covid cases.
Shemaroo said that broadcasters will resume the acquisition of film content over the next few quarters as they regain confidence in the economy and business environment.
The company said that continuous cost rationalisation in the last few quarters continued to pay off contributing positively to the Company's cash flow and profitability.
While Shemaroo continued to invest in its B2C initiatives, it witnessed some level of operational recovery as these new initiatives stabilised.
During the quarter, the Company continued its focus on its two broadcasting channels namely Shemaroo TV and Shemaroo MarathiBana to strengthen their viewership and reach.
Shemaroo MarathiBana completed one year of operations and established itself as the second most-watched movie channel in the Marathi genre. Shemaroo TV strengthened its reach by closing on key distribution partnerships and began monetization through advertisements during the quarter.
ShemarooMe partnered with Ooredoo in Qatar. Shemaroo's YouTube channel ‘FilmiGaane’ crossed 46 million subscribers. The channel became the 21st most subscribed channel in the world.
The company launched two new pre-loaded audio speakers - Bhakti Maalai (Tamil Devotional Speaker) and Bhakti Anand (Sub INR 1000 devotional product for gifting).
Total expenses increased to Rs 89.88 crore from Rs 85.5 crore a year ago. The company posted a net loss of Rs 1.7 crore as against a net profit of Rs 8.7 crore. EBITDA declined 64% to Rs 7.1 crore from Rs 19.5 crore.
The company stated that the quarter witnessed a resumption in economic unlock and hence advertising spends. It was backed by the festive season and an overall reduction in the fresh Covid cases.
Shemaroo said that broadcasters will resume the acquisition of film content over the next few quarters as they regain confidence in the economy and business environment.
The company said that continuous cost rationalisation in the last few quarters continued to pay off contributing positively to the Company's cash flow and profitability.
While Shemaroo continued to invest in its B2C initiatives, it witnessed some level of operational recovery as these new initiatives stabilised.
During the quarter, the Company continued its focus on its two broadcasting channels namely Shemaroo TV and Shemaroo MarathiBana to strengthen their viewership and reach.
Shemaroo MarathiBana completed one year of operations and established itself as the second most-watched movie channel in the Marathi genre. Shemaroo TV strengthened its reach by closing on key distribution partnerships and began monetization through advertisements during the quarter.
ShemarooMe partnered with Ooredoo in Qatar. Shemaroo's YouTube channel ‘FilmiGaane’ crossed 46 million subscribers. The channel became the 21st most subscribed channel in the world.
The company launched two new pre-loaded audio speakers - Bhakti Maalai (Tamil Devotional Speaker) and Bhakti Anand (Sub INR 1000 devotional product for gifting).
