Shemaroo Entertainments Expects New Media Growth Rate To Slow Down
Mumbai-based entertainment content provider Shemaroo Entertainment Ltd. expects growth to taper in its new media business as a high customer base results in slower growth for the overall industry.
The new media industry is expected to grow at 20-25 percent compared with the earlier estimate of 30-35 percent, but the company expects to continue to outperform the industry, Hiren Gada, chief executive officer of Shemaroo, told BloombergQuint.
Gada said Shemaroo’s new media business has typically grown 5-8 percent higher than that of the industry.
The company’s revenue stood at Rs 490.3 crore in the year ended March, of which the new media segment’s contribution was 27 percent.
Gada said the company’s YouTube channel has gained more customers after the launch of Reliance Jio, which has driven growth for the last 18 months.