MUMBAI: Balaji Telefilms' video on demand platform, ALTBalaji has planned to invest up to Rs 500 crore over the next three years with a focus on strengthening its content offerings, according to a report by Brandequity. 

The network is aiming to more than double its subscriber base to over eight million, which excludes Jio customers, by 2021 from 2.8 million at present. 

ALTBalaji CEO Nachiket Pantvaidya said, "We plan to invest Rs 150-170 crore every year, out of which 70 per cent would be invested in strengthening our content offerings. Over the next three years, we plan to invest Rs 450-500 crore."   

The network is aiming to launch 45 to 50 shows in the next two years. 

Pantvaidya added, "About 95 per cent cent of the content on ALTBalaji is original. We are planning to launch 45 to 50 original shows in the next two years. We are investing in good quality content and we aim to reach subscriber base of over eight million by 2021."

ALTBalaji gets 60 per cent of traction from cities outside the top-four metros. The network claims to offer an inventory of 32 shows and over 250 hours of entertainment.