Shemaroo Entertainment, one of India’s leading players in the media and entertainment industry has announced its financial results for the fourth quarter and financial.
The results included revenue from operations which stands at Rs. 164.5 crores as against Rs. 93.6 crores in Q4 financial year 2022; Up by 75.8% year on year. Earnings reported was at Rs. 16.9 crores as compared to Rs. 8.7 crores in Q4 2022.
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• Yearly growth of Digital Media and Traditional Media for FY23 is 23.3% and 66.5% respectively
• ShemarooMe, the OTT Platform released 14 new titles during the quarter
• Shemaroo GECs have a viewership share of over 9% in the overall Hindi GEC genre
• The contribution of B2C revenue as a percentage of total revenue has doubled in FY23 vs FY22 and now contributes to around 1/3rd of the overall revenue
Commenting on the results, Hiren Gada, CEO – Shemaroo Entertainment Ltd said: “Considering the external economic scenario, I am very pleased with our overall performance in this financial year. We started on this journey of changing our business strategy in 2019 and against all odds and headwinds that we have faced over the last few years, we have overcome all these challenges and have been successful in meeting our strategic goals. We are extremely confident that the agility, strength and innovative business model, along with a professionally run organization with freshly inducted talent from the media industry, will see our company delivering strong financial performance in the coming years.”