Hiren Gada on Shemaroo's 60 years: As Shemaroo completes 60 years Hiren Gada takes deep dives into its business and expansion plans | The Financial Express

As Shemaroo completes 60 years, Hiren Gada takes deep dive into its business and expansion plans

The US, the UK, Australia and New Zealand (ANZ), and East Africa account for the majority of the company’s international user base

Shemaroo
According to Gada, Bollywood still remains the core of its business with titles such as Omkara, Kuch Meetha Ho Jaye, and Ishqiya as part of its roster

As Shemaroo completes 60 years in India, it has expanded into various media offerings which include over-the-top (OTT) services such as ShemarooMe, along with general entertainment channels (GECs) Shemaroo Umang alongside Shemaroo TV and MarathiBana. “Digital accounts for 50% of the business and the rest comes from traditional media. Traditional media includes TV channels, syndication of various channels, cable, and direct-to-home (DTH) services. Digital media for us includes YouTube, our telecom business, besides syndication deals,” Hiren Gada, CEO, Shemaroo Entertainment Ltd, told Brandwagon Online.

As per the company’s Q2, 2023 results, the operational income stood at Rs 147 crore thereby recording a growth of 53% on a quarter-on-quarter (QoQ) basis and 19% on a year-on-year (YoY) basis. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the quarter stood at Rs 13 crore, and net profit was reported at Rs 3.4 crore with a profit after tax (PAT) margin of 2.31%. Furthermore, in Q2, 2023, the revenue from digital media stood at Rs 64 crore, which was up by 36% YoY. Revenue from traditional media in the second quarter stood at Rs 83 crores which was up by 9% YoY.

According to Gada, Bollywood still remains the core of its business with titles such as Omkara, Kuch Meetha Ho Jaye, and Ishqiya as part of its roster. He stated that for the last three to four years, the company has limited its fresh investment into Bollywood largely due to the pandemic, and has instead claimed to have diverted those funds towards expanding its new television business. “The company’s subscription-based OTT video-on-demand (VOD) service has exceeded the expected consumption metrics,” he alleged. Under its digital space, YouTube accounts for the largest piece of the pie, claims the company.

The company stated that YouTube accounts for more than 100 million views daily across its more than 70 channels. “Our business endeavour via YouTube began nearly 12 to 13 years ago. In the meantime, our OTT platforms are focused towards the Gujarati audience and since April 2021, for more than 1.5 years, we have released one new content every week,” he added. As per Gada, Shemaroo’s OTT platform released over 60 fresh titles every year.

The company plans to further expand its presence across markets such as the US, besides the UK, Australia and New Zealand, and East Africa. Meanwhile, at home, Gujarat, along with cities such as Mumbai, Pune, Delhi, among others are its key markets.

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First published on: 23-11-2022 at 10:03 IST