The COVID related lockdown of more than 3 months has created a huge impact on the movie and television content creators. As digital content viewing numbers surged across the world, the content producers and broadcasters are expecting huge losses as advertisers limit ad spends.
Balaji Telefilms had their earning call on the 11th of Aug with their investors.
Balaji Management expects to renegotiate terms with its broadcasters.
The last quarter of last financial year has seen Balaji post a loss of $2.4 Million, out of which $800K is due to COVID 19 crises.
While the Joint Managing Director, Ekta Kapoor announced that she will forgo her salary, it was also reported that there is a 50% cut in salaries for the Group for April. May and June.
The Group is expecting that their future focus is going to be a lot of digital content. They are also expecting to bring in new investors as their future strategy pivots.