Video streaming platform Alt Balaji has said that Ekta R Kapoor and Shobha Kapoor have resigned as heads of the company. It is a strategic decision to focus on his other ventures.
While the process of stepping down started last year, ALTBalaji has now appointed Vivek Koka as Chief Business Officer.
“We are thrilled to welcome Vivek Koka to the ALTBalaji family. His expertise and vision for the future of digital entertainment make him the perfect choice to lead the platform into its next phase of growth and success,” Ekta R Kapoor said in a statement.
Under the leadership of Koka, ALTBalaji will look for new opportunities to expand its reach and impact in India and globally. Though Ekta R Kapoor and Shobha Kapoor have resigned from the management of ALTBalaji, the holding company Balaji Telefilms will still hold shares in the platform.
In an interview last year, Nachiket Pantvaidya, former group chief executive officer of ALTBalaji, had said that Balaji Telefilms felt mass-market audiences would drive the growth of its digital platform ALTBalaji, which recorded 3.98 million net views in the first nine months of FY22. Million subscriptions were added. The platform last year planned to add 10-15 shows to its library that focused on the Hindi heartland, apart from dubbing in regional languages.
To be sure, media experts agree that there is a market for what ALTBalaji usually offers, but not without challenges. As a platform, they are targeting two different sets of audiences. One, the lady of the house who is hooked to TV and the other is the youth who is looking for violent or erotic content. While there is a huge youth market to tap into, they are also exploring programming available on other global OTTs and it remains to be seen whether ALT content works for them.
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