Chintala Sports to focus on Sports Entertainment: Sanjay Reddy, CMD, Silly Monks Entertainment
Silly Monks Entertainment garnered momentum with the recent acquisition of 51% stake in Chintala Sports Pvt Ltd, the curators of Telangana Premier Kabaddi League
Hyderabad-based digital entertainment company Silly Monks Entertainment recently acquired 51 per cent stake in Chintala Sports Pvt Ltd, the curators of Telangana Premier Kabaddi League (TPKL) which is a regional avatar of the hugely successful Pro Kabaddi League (PKL).
Talking about the acquisition, Sanjay Reddy, Chairman and Managing Director, Silly Monks Entertainment, said the key operative word for his company is entertainment. “The digital platform is growing at a faster rate. When we look at getting into any kind of genre, we first look at the entertainment side of it and then digital and non-digital way of distributing things,” explained Reddy.
Silly Monks focuses on content aggregation, customisation and deployment of content on digital platforms. They work closely with YouTube, Amazon, Netflix, VuClip, Yupp TV, Zee5, Idea, Facebook etc.
The company made headlines in the beginning of this year with its debut on National Stock Exchange (NSE). It is the first digital entertainment company to be listed on NSE’s small and medium-sized enterprises platform Emerge.
In an interaction with exchange4media, Reddy spoke about the acquisition and the company’s future plans.
Talking about their entry into sports with Telangana Premier Kabaddi League, which is in its second season, he said, “We tested TPKL last year which gave tremendous boost to channel 10TV. The channel became No 2 in the timeband the league was telecasted. We saw potential, hence we replicated it for other regional channels. PKL has established kabaddi’s potential nationally. It made logical sense for Silly Monks to be associated with the fastest growing genre in sports entertainment next to cricket.”
“We decided to do what other popular sports leagues were doing, in terms of auctioning the team and players, etc. This will make team owners a part of the success and help in the overall growth of the league. Auctioning of players will help the players realise their full potential and become an inspiration for others,” added Reddy.
Reddy desires to make Chintala Sports Pvt Ltd. a full fledged sports entertainment company which will create annual properties and be present on most of the telecast platforms. “We don’t want to stop at kabaddi. We want to enter into ground leagues or made-for-television kind of leagues which will help people from going from street to the screens,” he said.
Silly Monks expects a growth of 40 per cent as compared to last year. According to Reddy, growth in internet penetration, availability of smartphones at affordable prices, spurt in regional content consumption, and experienced team and high focus have led to the tremendous growth of the company within a short span of time.
On data explosion, Reddy explained that for any digital entertainment company, the basic currency is how much your content is viewed, based on which the money or advertisers follow. “Because of data explosion, we have more people who can afford smartphones at lower cost. Also, the internet has become affordable, enabling people to watch online content. They are watching more than what they watched two years ago. There has been 3x growth in the last two years, which logically follows more monetisation from brands. With the explosion of OTT platforms in the country, it’s a very healthy situation to be in. Jio was the biggest contributor to the growth and because of it, other networks too are updating their system. So, indirectly, Jio drove better quality of internet speed and lowering of smartphone prices,” opines Reddy.
Silly Monks recently produced its first Telugu web series for Amazon called ‘Gang Stars’, a crime comedy-drama directed by Nandini Reddy. They have also entered Telugu film production with two movies on the floor. The company is now looking at animation and live action space as their next project.
The roadmap ahead for Silly Monks is to grow the creator ecosystem for YouTube. “We are working with many creators, and ensuring that they are given better resources to engage more fan base in the times to come. We want to get into original production for various OTT platforms, create slate of web series and extend our production capabilities into films. In addition, we want to focus on sports entertainment and consolidate the position in film production,” concludes Reddy.
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