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Tuesday, 12 November 2019 08:27

Star India’s Hotstar faces Rs. 554.38 crore loss in FY19

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Star India owned video streaming platform Hotstar (Novi Digital Entertainment) has registered to Rs. 554.38 crore loss in FY19. Its revenue from operations surged 95% to Rs. 1,112.74 crore. Total expenses jumped to Rs. 1,677.51 crore in FY19, from Rs. 965.7 crore in FY18.

Novi Digital had posted a loss of Rs 489 crore for the fiscal ended March 2017, which is a 20% increase over the previous fiscal’s loss of Rs 408.9 crore. It revenue from operations increased by 81.4% to Rs 321 crore from Rs 178.5 crore in FY16. Subscription saw a four-fold increase to Rs 129.4 crore from Rs 24.17 crore while ad revenue was up 24% to Rs 168 crore. The revenue from licensing of content rights stood at Rs 23 crore compared to Rs 19.2 crore in FY16.

As reported, Hotstar in March 2019 had received a fresh round of fund infusion from its parent company Star India and Star US Holdings. The two companies have together pumped in Rs 1066 crore ($153 million) into Novi Digital.

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