Just yesterday, there was buzz that Reliance would invest in ALTBalaji. Today, Balaji Telefilms and Reliance announced that Reliance had indeed invested in the ALTBalaji business. The conglomerate is scheduled to invest around 500 crore rupees in the business.
This move is set to develop content development initiatives, especially in the streaming section – which is ALTBalaji. ALTBalaji has seen exponential growth ever since it first launched sometime in April. With a bouquet of web series, a platform of its own and an app, ALTBalaji has definitely made itself an integral part of the Indian streaming world now. Currently, ALTBalaji has something of everything on its online platform – from horror to love stories to drama.
ALTBalaji is one of the first Indian media houses to have original content and an exclusive platform to stream it. It works with the subscription model, something that’s similar to Hotstar, which exclusively streams Indian sports content.
Interestingly, when Ekta Kapoor started Balaji Telefims, Star TV had a stake in the production house, and that formed the background for a very profitable time for Ekta and Star, who ruled the airwaves in the nineties. Even today, Ekta Kapoor’s tv serials have a great following. In hindsight, Reliance JIO is a sister concern for Reliance Industries. So, whether this means that JIO users will be able to watch ALTBalaji content for free or even on heavily slashed rates remains to be seen.