Shemaroo to invest Rs 75 cr to expand TV, OTT businesses

Media company Shemaroo Entertainment plans to spend ?75 crore in FY24 to bolster its broadcast and over-the-top (OTT) businesses, a senior company executive told ET. The company had invested ?55 crore in the two streams in FY23.

Hiren Gada, the company’s CEO, said the money will be used for the ShemarooMe platform and the TV business.

“The company intends to expand its TV and OTT businesses in FY24 by introducing a new regional channel in the second quarter, and introducing fresh offerings on its OTT platform during the latter half of the fiscal year,” he said.