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Monday, 11 November 2019 14:24

Wynk faces Rs 6.2 crore loss in FY19

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Wynk, the OTT vertical of the telecom operator Bharti Airtel, has registered a net loss of Rs 6.2 crore in FY19 compared to a net profit of Rs 14.1 crore in the previous fiscal. Its loss before tax stood at Rs 9.5 crore as against a profit before tax of Rs 21.6 crore.

The telco is building Wynk as a start-up. Wynk provides a digital platform to access on-the-go entertainment content across music, Live TV, Movies & TV Shows. The carrier-agnostic and multi-device compatible applications enable customers to stream, download and buy content.

Wynk’s revenue from operations grew to Rs 613 crore from Rs 281.2 crore. Expenses rose to Rs 613.7 crore compared to Rs 250.3 crore. A bulk of the company’s expenditure went into content costs which increased to Rs 545.9 crore from Rs 202.1 crore.

Wynk has 50 million plus installs, and claims to have 350+ channels, 10000+ movies and 100s of TV shows. Wynk Music, which has over 100 million installs, has more than 3 million songs from multiple music labels.

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