Star India posts profit of Rs 1,395 cr in FY21

By: |
October 29, 2021 8:39 AM

Disney+ Hotstar accounted for the majority of Disney+’s global subscriber additions between January and June 2021

n August 2021, Star India unleashed new subscription plans for its video streaming platform.n August 2021, Star India unleashed new subscription plans for its video streaming platform.

Television broadcaster Star India, which is now owned by the Walt Disney Co India, posted a net profit of `1,395 crore on a standalone basis during financial year 2020-21 (FY21) against a loss of `85.61 crore in FY20, according to the company’s filings with the Registrar of Companies (RoC).

During the year, the company’s total revenues stood at `12,026.18 crore, down 13.38% from FY20. Revenue from operations at `11,761.90 crore declined 12.79% from FY20.

Total expenses during FY21 at `9,667.57 crore came down by 31.22% from FY20.

Star India operates a network of 60 channels in eight languages. It also has a film production and distribution arm for both Hollywood and Indian films.

Disney+ Hotstar accounted for the majority of Disney+’s global subscriber additions between January and June 2021, and comprised about 40% ― 46.4 million ― of the platform’s total paid subscriber base as of the end of June 2021. The platform also acquired direct-to-digital rights for films like Dil Bechara, Laxmii, and Sadak 2 in the last fiscal.

In August 2021, Star India unleashed new subscription plans for its video streaming platform. Until FY21, Disney+ Hotstar offered only two annual subscription plans (`399 and `1,499). Users now have a choice between three plans (`499 ― mobile only, `899 ― super, and `1,499 ― premium).

Further, Star India is likely to exit the English general entertainment space by discontinuing Star World, Star World HD and Star World Premiere HD. The company recently announced new MRPs for its channels in compliance with NTO (new tariff order) 2.0. The broadcaster has priced 12 of its 62 TV channels at over `12 across Hindi, regional and sports genres. Its flagship channels including those in the sports genre have been left out of bouquets.

Read Also: Glance signs partnership with Realme to provide lock screen content

Follow us on TwitterInstagramLinkedIn, Facebook

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

BrandWagon is now on Telegram. Click here to join our channel and stay updated with the latest brand news and updates.

Next Stories
1KFC India launches new campaign for its Express Pick-up service
2Lancer Capital acquires franchise in UAE T20 league
3Hotstar is the preferred choice for majority of the OTT viewers: Report