JMD is expanding its ventures into the OTT Platform - Multiple Languages

JMD Ventures Ltd is a BSE-listed company that announces Strategic Expansion into Multi-language OTT Platforms through their Subsidiary Company JMD Cineplex Pvt. Ltd. Mumbai dated 19/01/2024- JMD Ventures Ltd, a pioneering name in the entertainment industry, has recently concluded a board meeting on 19/01/2024, during which the decision to enter the Over-The-Top (OTT) media services landscape was unanimously agreed upon. Recognising the tremendous potential and rapid growth of the OTT industry in India, JMD Ventures aims to launch multiple channels in Hindi and various regional languages. OTT application (Platform) will be in the Name of JMD Cineplex.

In response to the increasing digital penetration and the imminent rollout of 5G services, the board has approved a phased investment plan of approximately Rs. 400 Lacs through their subsidiary company. These funds will be allocated to cutting-edge technology and high-quality content creation, reflecting JMD's commitment to providing an unparalleled entertainment experience to its audience.

As a leading music production house, JMD Ventures has successfully produced over 10,000 songs in various regional languages, including Bengali, Bhojpuri, Rajasthani, and more. The company has been a trendsetter in the music industry and is now extending its expertise to OTT content production.

Beyond music, JMD Ventures also engages in television and radio production through its divisions: JMD TV, JMD Sounds, JMD Music, and JMD Digital. The company boasts a strong digital presence with channels like JMD-Rajasthani, JMD-Bhakti Sagar, JMD-Bangla, JMD Bhakti Geeti (Bangla) and JMD Purulia (Dhamaka).

Over the past four years, the OTT market in India has witnessed exponential growth, with 47 OTT providers currently catering to a massive audience of 481.1 million. As per the latest Ormax report, JMD Ventures is poised to tap into this vast market by offering a diverse range of content, leveraging its four-decade legacy in the music production industry.

JMD Ventures has invested significantly in state-of-the-art music studios, producing a wide range of music genres, including Popular Music, Classical Music, Soul Music, Dance Music, New-age Music, Experimental Music, Vocal Music, Electro Music, Devotional Music, Bhajans, Ghazals, and more. The company has played a pivotal role in the music industry's growth, contributing to its expansion from Rs. 1500 Crs in 2017 to an anticipated Rs. 3000 Cr. by the end of 2024.

This current year JMD Ventures has remarkable percentage (%) growth compared to the last year. JMD Ventures is poised to redefine the entertainment landscape in India, starting with the launches of its multiple OTT platforms in 2024.

"JMD Ventures is not just entering the OTT space; we are bringing with us a rich legacy of music production, content creation, and a deep understanding of the diverse Indian audience," said D.N. Jha, Managing Director of JMD Ventures. "Our foray into OTT platforms is a natural progression for us, aligning with our commitment to innovation and connecting with audiences on multiple fronts."

Shares of JMD Ventures Limited was last trading in BSE at Rs. 26.41 as compared to the previous close of Rs. 26.94. The total number of shares traded during the day was 14678 in over 157 trades.

The stock hit an intraday high of Rs. 26.41 and intraday low of 26.41. The net turnover during the day was Rs. 387645.00.

Source : Equity Bulls

Keywords

JMDVentures INE047E01031 FilmProduction Distribution Exhibition Expansion MultiLanguage OTTPlatforms JMDCineplex