Television

Shemaroo's third quarter numbers improve, digital revenue increases

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BENGALURU: Indian integrated media content house Shemaroo Entertainment Ltd (Shemaroo) reported 15.3 percent higher y-o-y consolidated total revenue for the quarter ended 31 December 2017 (Q3 2018, the quarter under review) at Rs 132.85 crore as compared with Rs 115.22 crore in Q3 2017. Revenue from operations increased by 16.8 percent y-o-y to Rs 132.63 crore from Rs 113.54 crore.

In its investor presentation, Shemaroo says that 22 percent of its revenue came from digital media and 78 percent from digital media in fiscal 2017. Revenue from digital media grew by 40.9 percent y-o-y in Q3 2018 to Rs 33.1 crore (20.7 percent of operating revenue) from Rs 23.5 crore (25 percent of operating revenue). The company caters to all types of revenue models such as pay per transaction, subscription and advertisement supported. Shemaroo says that due to its large library ownership, it has the ability to slice and dice content and package it in different ways that are more suited for the digital media platforms. During the nine-month period of the current financial year, revenue from digital media grew by 41.7 percent to Rs 95.8 crore (25.8 percent of operating revenue) from Rs 67.6 crore (20.8 percent of operating revenue) during the corresponding year ago nine-month period.

In Q3 2018, the company said that it had crossed 50 lakh (0.5 crore) subscribers on its YouTube channel ShemarooEnt. Shemaroo has agreements with various internet video platforms like YouTube, Hotstar, Reliance Jio, Apple iTunes, Google Play and YuppTV. The company has agreements with major telecom operators, namely Airtel, Vodafone and Idea, for mobile value-added services (MVAS). Shemaroo distributes imagery, videos, full songs and live streaming under MVAS through both operator branded portals as well as its own branded portals

Although revenue from traditional media grew by 10.6 percent y-o-y during the quarter under review to Rs 99.5 crore from Rs 90 crore, its contribution to operating revenue declined to 75 percent from 79.3 percent. Shemaroo’s traditional media platforms include television syndication, subscription-based services through DTH players and cable operators, home entertainment services and other media like airborne rights for in-flight entertainment, overseas, international film festivals.

Shemaroo’s consolidated profit after tax, or PAT, for the quarter under review improved by 26.5 percent y-o-y to Rs17.95 crore (13.5 margin) as against Rs 14.19 crore (12.5 percent margin) in the corresponding quarter of the previous year.

Shemaroo’s EBIDTA, including other income in the quarter under review, at Rs 36.03 crore (27.1 percent margin on total income of operating revenue) increased by 12.8 percent y-o-y from Rs 31.94 crore (27.7 percent margin on total income of operating revenue).

The company’s total expenditure in Q3 2018 at Rs 105.55 crore (79.3. percent of operating revenue) was 13.6 percent more y-o-y than the Rs 92.66 crore (81.6 percent of operating revenue). Its cost of raw materials consumed declined by 29.2 percent y-o-y in Q3 2018 to Rs 71.98 crore (54.3 percent of operating revenue) as compared with Rs 101.72 crore (89.6 percent of operating revenue).

Employee benefits expense increased by 26.9 percent y-o-y during the quarter under review to Rs 10.25 crore (7.7 percent of operating revenue) from Rs 8.08 crore (7.1 percent of operating revenue). Other expenses grew by 4.6 percent y-o-y in Q3 2018 to Rs 5.74 crore (4.3 percent of operating revenue) from Rs 5.49 crore (4.8 percent of operating revenue).

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