Disney+ Hotstar's FY21 revenue up 5% to Rs 1670.63 crore

The company's ad revenue saw a 15% decline to Rs 829.74 crore from Rs 974.23 crore

e4m by Javed Farooqui
Updated: Oct 27, 2021 1:27 PM
disney+ hotstar

Novi Digital Entertainment, the company which houses Star India's streaming platform Disney+ Hotstar, has reported a 5% jump in revenue from operations to Rs 1670.63 crore in FY21 compared to Rs 1593.02 crore in the previous financial year.

According to the company's financial data accessed by the business intelligence platform, Tofler, the company's ad revenue saw a 15% decline to Rs 829.74 crore from Rs 974.23 crore. Subscription revenue saw a 34% increase to Rs 830.96 crore as against Rs 618.79 crore. The company earned Rs 9.93 crore from licensing of content rights.

The company's net loss has increased 66% to Rs 601 crore as compared to a loss of Rs 361.89 crore in the previous financial year on the back of double digital rise in expenses.

The company’s total expenses for the fiscal rose 16% to Rs 2304.8 crore from Rs 1990.58 crore. Its advertising promotional expenses expanded by 68% to Rs 479.63 crore, compared to Rs 286.03 crore. Rights & Programme cost was up 22% at Rs 397.64 crore from Rs 325.98 crore. Licence fees stood at Rs 708.61, a marginal increase of 2% compared to Rs 722.53 crore.

There was no comment from Star India till the time of filing this report.

In its filing, Novi Digital said that Disney+ Hotstar has become one of the market leaders in 2020-21, leaving behind the other OTT platforms during the Covid-19 pandemic. It further stated that one of the key factors for the growth of subscriptions for online video was the aggressive pricing model adopted by Disney+ Hotstar. Currently, the platform offers more than 100,000 hours of content spanning TV shows, short form content through Disney+ Hotstar’s ‘Quix’ feature and movies in 8 languages and coverage of every major sporting tournament.

Disney+ Hotstar Premium has a large selection of Disney+ originals, the latest American shows, blockbuster Hollywood movies and award-winning content from international studios; whereas with Disney+ Hotstar VIP, users get access to Disney content in local languages, exclusive new content from the Hotstar Specials label, new Bollywood blockbuster movies for direct release on Disney+ Hotstar through its ‘Multiplex’ feature, access to STAR network serials before television, and the latest and best of live sporting action.

The company also said that Disney+ Hotstar has been downloaded by more than 400 million users, making it one of the most in-demand apps in India and also secured top spots on the Google Play Store as well as the Apple App Store. Further, Disney+ Hotstar had 227 million monthly active users during 2020-2021.

During the year under review, Novi Digital allotted 92,46,73,417 equity shares of Rs 1/- each at a premium of Rs 6.90/- per share on rights basis to the existing shareholders of the company in March 2021 which resulted in the increase in the paid up share capital of the company to Rs 10,69,21,07,579 consisting of 10,69,21,07,579 equity shares of Rs 1/- each as on March 31, 2021.

The company also regularised the appointment of Prabh Simran Singh at the Annual General Meeting (AGM) held on December 08, 2020. Sheenaz Dastur, Director of the company, resigned w.e.f December 17, 2020 from the board of the company. Consequent to her resignation, the board consisted of two directors as on March 31, 2021 namely Prabh Singh and Prateek Garg.

Subsequent to the closure of financial year, Sidharth Shakdher was appointed as an additional director on April 16, 2021 and his designation was changed to whole time director at the same board meeting. Further, Prabh Simran Singh was also appointed as the whole time director on April 16, 2021

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