ï»ż

Top Story

Home >> Digital >> Article

Hotstar raises Rs 516cr, cut-throat competition in India's OTT space has just begun

16-August-2018
Font Size   16
Hotstar raises Rs 516cr, cut-throat competition in India's OTT space has just begun

Hotstar owner Novi Digital media has secured $73.8 Mn (INR 516 Cr) from Star US at a valuation of $265 Mn, say reports. Novi is a wholly-owned subsidiary of Star India. The funds will be used to combat stiff competition from Amazon Prime and Netflix to name a few. The financial documents were revealed on Paper.vc.
In the three months ended June 2018, Hotstar reported Rs 5.69 billion in revenue, compared to Rs 5.71 billion it posted in the 12 months ended March 2018. The 2018 edition of the Indian Premiere League was one of the biggest drivers of the company’s recent revenue surge. Hotstar being keen on partnerships with leading brands such as Flipkart and Airtel TV are also driving its growth.  
Hotstar currently has about 7 lakh paid subscribers as of July. In India, Amazon Prime Video has 11 Mn subscribers, Voot has 22 Mn subscribers, while Netflix stands at 5 Mn only, say reports.

According to Frost & Sullivan, India’s OTT video services market earned over $37 Bn in 2017 and the OTT video services market is expected to grow at a CAGR of 17.3% over the next five years.
That vernacular is one of the hottest battlegrounds in India’s video space is no secret. Reportedly, Amazon Prime Video is now looking to expand its film catalogue to Tamil and Telugu. As for Netflix, it has announced three Indian original productions-Ghoul, Leila and Crocodile, in addition to the four productions Sacred Games, Selection Day, Again, and Bard of Blood, already in the pipeline.

Tags Hotstar

Chief Content Officer, Eros Group, on Eros Now's first original comedy series, reception to its short form content and code to crack original content strategy

The new Head of Office for FCB Ulka Bengaluru on her vision for the agency, her role in shaping brands over 16 years, and why it is important to have fun in advertising

Strategy Head, Zirca Digital Solutions listed out key aspects of a good content marketing strategy and performance indicators for successful campaign

Richard Ingleton, Group CEO, Kantar Insights, says it is not right to associate market research with just survey

right
left
MINDSHARE BAGS TOP HONOURS @INDIAN CONTENT MARKETING AWARDS 2018 REALTY+ ORGANISES ITS 10TH CONCLAVE & EXCELLENCE AWARDS WPP CELEBRATES WINNERS OF BRANDZ 75 MOST VALUABLE INDIAN BRANDS IN MUMBAI MATHRUBHUMI LAUNCHES NEW VENTURE WITH MATHRUBHUMI MEDIA SCHOOL MULLEN LOWE LINTAS GROUP, OGILVY DOMINATE IAA AWARDS FOR CREATIVE EXCELLENCE THE AD CLUB RECOGNIZES INDUSTRY-LEADING BRANDS AT MARQUEES 2018 IN MUMBAI VIACOM18 SHOWCASES ITS NEW MULTI-LINGUAL WEBSERIES, THE VOOT ORIGINALS @MUMBAI EXPERTS PICK THE BEST OF CONTENT MARKETING AT JURY MEET FOR ICMA 2018 RAJDEEP SARDESAI LAUNCHES NEW BOOK ‘TRACKING INDIA IN THE MODI ERA’ AT DELHI CHLOROPHYLL ENTERS ITS 20TH YEAR CELEBRATING WITH FRIENDS AND ASSOCIATES INDUSTRY VETERANS ADDRESS ATTENDEES AT THE INMA SOUTH ASIA MEDIA FESTIVAL @DELHI RADIO CITY RECOGNIZES BUSINESS ICONS AT DELHI ICON AWARDS 2018 KARAN THAPAR & SHEKHAR GUPTA DISCUSS JOURNALISTIC ETHICS AT THE PRINT’S ‘OFF THE CUFF’ WOMEN ECONOMIC FORUM AWARDS 2018 RECOGNIZE WOMEN LEADERS OF THE DECADE THE 6TH EDITION OF IAA AWARDS RECOGNIZES THE WORK OF INDUSTRY PROFESSIONALS 11 INDUSTRY EXPERTS PRESENT  THEIR FAVOURITE DIGITAL CASE STUDIES @AD CLUB’S ‘D-CODE BUSINESSWORLD LAUNCHES 14TH EDITION OF MARKETING WHITEBOOK IN MUMBAI INDUSTRY VETERANS CHEER AS ADMAN AMBI PARAMESWARAN LAUNCHES NEW BOOK SPONG AAAI HONOURS VETERAN ADMAN RAM SEHGAL WITH THE 2018 LIFETIME ACHIEVEMENT AWAR PITCH TOP 50 BRANDS 2018 AWARDS COMPANIES WITH BEST MARKETING PRACTICES

Prakash joined PepsiCo in 1998 in India, and since then has held various positions across marketing and franchise functions in the company both in India and abroad

Divya will leverage her eclectic and rich experience across OTT and broadcast media, to build brand ALTBalaji

Your weekly news roundup, a summary of some of the stories to keep an eye on