Shemaroo Entertainment Ltd. shares gained more than 4 percent on Wednesday after the media and entertainment company announced expanding its senior leadership team by appointing two executives.

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The company has roped in former Star India executive Arpit Mankar as head of non-Bollywood category and Abhishek Joshi as head of its OTT platform ShemarooMe as it looks to bolster both its regional and foreign content as well as OTT verticals.

According to a statement, Mankar will develop a content strategy for various regions in India and abroad. He has more than 20 years of experience in the broadcasting and entertainment industry. Mankar has worked with Star India Pvt. Ltd., Sony, AXN Networks and Reliance group in the past.

Abhishek Joshi will oversee the strategy, planning and operations of OTT platform ShemarooMe. Joshi has worked with Sony Pictures Networks India, Reliance Big Pictures, SonyLIV, ZengaTV, and ABP Group.

Joshi will be responsible for subscriber acquisition and driving revenue and will lead a team of cross-functional executives.

Shemaroo currently operates three TV channels- Shemaroo TV, a Hindi general entertainment channel (GEC); Shemaroo Umang, a Hindi channel that offers light-hearted stories targeting the women; and Shemaroo MarathiBana, the first regional channel of the company.

According to Shemaroo, digital streaming business contributed 48 percent of its topline during the previous financial year. The company’s digital platforms have a cumulative subscriber base of over 20 crore.

Shares of Shemaroo Entertainment are trading 3.1 percent higher at Rs 114.1.

First Published:Mar 22, 2023 1:25 PM IST