News
The Rise Of OTT Platforms In India
Published
5 years agoon
OTT (Over the Top) media services which offer direct streaming services to viewers, have been gaining popularity worldwide. Some of the frontrunners of such services are Netflix and Amazon Prime, which remain popular worldwide. However, the scenario is quite different when it comes to the Indian OTT industry. According to a report released by Counterpoint Research in April 2018, the Indian streaming platform Hotstar is the most popular OTT platform in India. Hotstar is closely followed by Amazon’s Prime Video and SonyLIV, while Netflix ranks 4th.
The popularity of OTT platforms is slowly rising with the increase of local OTT platforms like ALTBalaji, Voot and SonyLIV, which are giving direct competition to foreign platforms like Prime Video and Netflix. Recently, the popular food delivery app Zomato also joined the OTT industry with the introduction of its Zomato Originals. The main reason behind so many new OTT platforms coming to the market is the increasing profits generated by such platforms in India.
The video OTT revenue in India was Rs. 2,019 crores in 2017. It is expected to reach Rs. 5,955 crores by 2022. With 500 million internet users, another number which is growing steadily at the rate of 8 percent, India has become the number one market for media and entertainment sector. It is also reported that the Indian OTT market is set to outperform the global OTT market and will likely be ranked among the top 10 by 2022.
With so many options, the competition between the various platforms has also grown. The platforms are investing in originals produced by the platform itself in order to attract audiences. The success of Netflix’s Sacred Games and Ghoul, Prime Video’s The Family Man and Hotstar’s AIB On Air and Sarabhai Vs Sarabhai proved original series are a working formula. With Indian audiences looking for good original content, the platforms are taking full advantage in order to increase their revenue.
Another factor contributing to the popularity of certain platforms is the pricing of these OTT platforms. The prices play a really important role as many local OTT platforms provide the majority of their content free of cost, while international platforms like Netflix and Prime Video have a process of monthly or annual subscription in order to let the users access their content. This is a major reason behind the popularity of local OTT platforms.
With the explosion of OTT platforms in recent years and with the availability of affordable data, the consumption of digital media has also increased. It will be interesting to see what kind of strategies these OTT platforms will follow in order to attract more audiences to their channels.
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Latest News
WhatsApp Beta Introduces Group Mentions: A Game-Changer for Group Communication!
Published
3 hours agoon
November 22, 2024WhatsApp, the Meta-owned messaging platform, is enhancing group communication with a new feature that simplifies how users share updates in group chats. The app now allows users to mention entire groups in their status updates, streamlining the process of notifying multiple people simultaneously.
What’s New?
According to WABetaInfo, the group mention feature is being rolled out to beta testers on Android. This update enables users to tag an entire group in their status updates, ensuring all group members receive a notification and a direct message in their individual chats. This eliminates the hassle of manually notifying each member, making it easier to share critical updates or announcements across large groups.
Previous Limitations
Previously, WhatsApp restricted mentions to a maximum of five contacts per status, which posed challenges for users managing large groups. With this update, that restriction is lifted, allowing mentions of entire groups and enhancing communication efficiency.
How It Works
Group Mentions in Status
- Tagging Groups: Users can now tag a group in their status update, ensuring everyone in the group is notified. This feature is particularly useful for sharing important events, updates, or news without the risk of missing out on anyone.
- Universal Notifications: Once a group is mentioned, all participants—including those who have muted the group—will receive a notification and can access the status. This guarantees that critical updates reach every member.
Privacy Simplification
The feature simplifies privacy settings by eliminating the need to adjust them for specific contacts. When a group is mentioned, all members automatically gain access to the status update, making communication more seamless and inclusive.
Custom Lists for Direct Messages
In addition to group mentions, WhatsApp is introducing custom lists for organizing direct messages (DMs). This feature allows users to create personalized categories for their contacts, helping declutter their inbox and focus on important conversations.
Benefits of Custom Lists
- Organized Chats: Users can group contacts into specific categories such as work, family, or friends, ensuring they can quickly locate and prioritize messages without getting overwhelmed by less relevant chats.
- Enhanced Focus: By categorizing conversations, users can streamline their communication and improve productivity.
Why This Matters
The introduction of group mention and custom list features is designed to improve user experience, making WhatsApp an even more effective tool for both personal and professional communication.
Time-Saving Benefits
- Efficient Communication: Group mentions save time by allowing users to notify all members about key events or announcements with a single action.
- Improved Coordination: These features facilitate better coordination within large groups by ensuring that everyone stays informed simultaneously.
Global Rollout on the Horizon
Currently available for beta testers on Android, WhatsApp plans to roll out these features globally soon. This commitment reflects WhatsApp’s ongoing effort to adapt its platform to meet the evolving needs of its users.
Anticipated Impact
As these features become widely available, they are expected to enhance user engagement and satisfaction by providing more efficient ways to communicate within groups. The ability to mention entire groups directly aligns with current trends in digital communication where quick and effective information sharing is paramount.
Conclusion
With the introduction of group mentions and custom lists, WhatsApp continues to innovate and enhance its platform. These updates not only streamline communication but also reflect WhatsApp’s commitment to adapting its features based on user feedback. As beta testers explore these functionalities now, broader accessibility will soon follow, making it easier than ever for users to stay connected and organized within their communities. Keep an eye out for these exciting enhancements as they roll out globally!
Startup News
Baanhem Ventures Secures ₹3.3 Crore from Kumar Vembu’s Mudhal Partners!
Published
1 day agoon
November 21, 2024Baanhem Ventures, the creators of the business reality TV show Startup Thamizha, has successfully raised ₹3.3 crore in funding from Kumar Vembu, founder of GoFrugal Technologies, through his newly launched investment firm, Mudhal Partners. This funding marks a significant milestone in Baanhem Ventures’ mission to empower first-generation entrepreneurs in Tamil Nadu.
Championing Tamil Nadu’s Entrepreneurial Ecosystem
Founded in 2024 by Hemachandran L and Balachandar R, Baanhem Ventures aims to create opportunities for Tamil Nadu’s budding entrepreneurs to become the next generation of innovators and job creators. With backing from Kumar Vembu, the venture seeks to drive social and economic growth through strategic financial and mentorship initiatives.
The company’s flagship show, Startup Thamizha, has already facilitated over ₹200 crore in investment commitments for startups across three seasons. The program showcases seed and growth-stage entrepreneurs from Tamil Nadu, aiming to inspire high-net-worth individuals (HNIs) to invest in local startups while nurturing an entrepreneurial culture in the state.
Building a Bridge for Aspiring Entrepreneurs
“Financial support is critical for first-generation entrepreneurs to start businesses and make an impact. Our mission at Baanhem is to be a dependable resource for these entrepreneurs, helping them transform their ideas into successful businesses,” said Hemachandran L and Balachandar R, Co-founders of Baanhem Ventures. Their commitment underscores the importance of accessible funding and mentorship in fostering a vibrant startup ecosystem.
Through Startup Thamizha, Baanhem Ventures offers entrepreneurs mentorship and funding opportunities, contributing significantly to Tamil Nadu’s economic growth. The show is set to air on a prominent general entertainment channel, highlighting innovative startups and encouraging aspiring entrepreneurs to pursue their dreams.
The Role of Mudhal Partners
Kumar Vembu, through Mudhal Partners, is dedicated to fostering first-generation entrepreneurs from Tamil Nadu. “I was impressed by Baanhem’s vision to develop native entrepreneurs using a scientific approach to produce successful startups. This is why I became the first to join this novel initiative,” Vembu stated.
The name “Mudhal Partners,” meaning “First Partners” in Tamil, reflects the firm’s vision to be the initial supporters of groundbreaking entrepreneurial ventures in Tamil Nadu.
Expanding the Vision
In addition to the funding, Baanhem Ventures is actively raising funds from venture capital firms to create a startup-investment bridge platform. This platform will connect emerging startups with top investors across India, providing access to crucial resources for scaling their businesses.
With this latest funding and the launch of Startup Thamizha, Baanhem Ventures is set to play a pivotal role in shaping Tamil Nadu’s entrepreneurial future, driving innovation, and fostering economic growth.
Conclusion
The successful funding round led by Kumar Vembu’s Mudhal Partners signifies a promising step for Baanhem Ventures as it embarks on its mission to empower first-generation entrepreneurs in Tamil Nadu. By leveraging strategic partnerships and innovative platforms like Startup Thamizha, Baanhem Ventures aims not only to enhance local entrepreneurship but also contribute significantly to the broader economic landscape of the region. As they continue to nurture talent and facilitate investment opportunities, Baanhem Ventures is poised to make a lasting impact on Tamil Nadu’s startup ecosystem.
Startup News
PeLocal Secures $2 Million Funding from Unicorn India Ventures!
Published
2 days agoon
November 20, 2024PeLocal, a fintech startup specializing in payment solutions via messaging platforms like WhatsApp, has successfully raised $2 million in a funding round led by Unicorn India Ventures. This marks the company’s first institutional funding and represents a significant step in its growth trajectory.
Scaling Transactions and Expanding Offerings
Over the past year, PeLocal has experienced impressive growth, scaling its monthly transaction volume from 500,000 to three million. The Chennai-registered startup now aims to hit 10 million transactions per month within the next year. As part of its expansion strategy, PeLocal plans to develop a marketing catalog and a dedicated payments platform tailored for small businesses on WhatsApp.
“This is our maiden institutional funding, and the deep expertise and strategic insights of Unicorn’s leadership will be invaluable as we continue to build on our growth momentum,” said Vivekanand Tripathi, Founder of PeLocal.
Simplifying Digital Payments for Everyday Transactions
Since its inception in 2021, PeLocal has focused on leveraging WhatsApp to streamline payments, serving notable clients such as Delhi Metro, Indraprastha Gas, and Mahanagar Gas. The platform is also utilized by several insurance companies for premium collection, reinforcing its adaptability across various industries.
Unique Value Proposition
Anil Joshi, Managing Partner at Unicorn India Ventures, highlighted the startup’s unique value proposition:
“While digital payment solutions are growing, there remains a demand for simple and seamless solutions for micro payments. PeLocal is addressing this gap by enabling instant payments through WhatsApp.”
This focus on micro payments positions PeLocal to cater to a growing segment of users seeking convenient payment methods integrated into their daily communication tools.
Previous Funding and Vision for Growth
PeLocal had previously raised $1 million in a seed round in 2022, according to Tracxn data. With the latest funding, the company is poised to scale its operations and enhance its offerings, solidifying its position in India’s burgeoning digital payments ecosystem.
The latest investment not only validates PeLocal’s innovative approach but also underscores the growing importance of integrating payment solutions with popular messaging platforms to reach a broader audience.
Future Plans
PeLocal aims to become the leading provider of WhatsApp-based ticketing solutions across various Indian states and organizations while driving the adoption of utility payments through WhatsApp. The company envisions expanding its services beyond traditional payment solutions to include features that enhance customer engagement and streamline business operations.
Key Features of PeLocal’s Services
- Seamless Integration with WhatsApp: Users can send payment links, invoices, and transaction updates directly through WhatsApp.
- Automated Customer Support: The platform offers automated responses and intelligent self-service options, reducing manual efforts.
- Enhanced Payment Security: PeLocal ensures robust security measures for transactions carried out via WhatsApp.
- Convenient Payment Options: Customers can complete payments with just a few taps on their WhatsApp interface.
Conclusion
With this recent funding round, PeLocal is well-positioned to enhance its market presence and capitalize on the growing demand for digital payment solutions integrated with messaging platforms. By simplifying the payment process for both consumers and businesses, PeLocal aims to redefine how transactions are conducted in India’s rapidly evolving fintech landscape. The support from Unicorn India Ventures will be crucial as the company seeks to expand its offerings and reach new heights in the digital payments space.
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