Last year, things took an interesting twist for Alt Media, the digital platform from Balaji Productions, akin to the sitcoms that the production house is famous for churning out. In July 2017, Reliance Industries acquired 25% stake, estimated to be around INR 413 crore, in the Ekta Kapoor-owned production company. Part of these funds will be ploughed into creation of unique content for Alt Media to help it establish a foothold in the competitive online space. This announcement was followed by the appointment of Nachiket Pantvaidya as Balaji’s Group COO, and Alt Media’s CEO. In a bid to take on the well-established players in the OTT business, the company has adopted a monthly subscription model, charging users a nominal monthly fee of INR 25. This low fee has helped it rope in more viewers from rural cities, who currently comprise 80% of it subscription database.
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