As of March 2018, ALTBalaji has 1.2 million paid subscribers ( excluding Reliance Jio platform users). ALTBalaji has over 11 million direct app install and an additional 2.2 million through the web browser.
Update: ALT now has 2.5 million+ subscribers.

We are very happy to announce that ALTBalaji has doubled its subscriber base in just 40 days! We had 1.2 Million+ subscribers on 31st March and have 2.5 Million+ subscribers as of today ?

— ALTBalaji (@altbalaji) May 24, 2018

ALTBalaji’s revenue for the exit quarter was Rs 3.7 crore compared to Rs 1.1 crore in the third quarter. Net loss widened to Rs 29.5 crore as against Rs 5.4 crore in the corresponding quarter of the previous fiscal.
ALTBalaji forays into a bit of soft porn content, but the point is that subscription business do work in India.
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