OTT service Viu to shut down India operations
According to reports, the decision was announced today at the company's Mumbai office
It has been reported that Hong Kong-based PCCW Media group's video-on-demand platform, Viu will be shutting down its operations in India.
According to reports, the decision was announced today at the company's Mumbai office. Viu began its India operations in 2016 and is available in 17 markets across Asia, Africa and the Middle East including Hong Kong, Singapore, Malaysia, India, Indonesia, the Philippines, Thailand, Myanmar, Bahrain, Egypt, Jordan, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates and South Africa.
A statement from Viu said, "Viu has gained tremendous traction achieving 36 million MAU across 17 markets over the last 4 years. In this span of time, Viu has emerged as one of the top leaders in OTT Industry in South East Asia, Middle East and South Africa. India is a large potential market, but also complex and challenging. While consumers in India are just starting their OTT journeys, the level of hype and investments in the market are extremely high with no current path to sustained monetization. Therefore, we are pausing on making additional investments in India. We are prioritizing our investments to South East Asia, Middle East and Africa to further secure our leadership and achieve rapid growth in a sustainable fashion".
OTT platform Viu follows a 'freemium' model, allowing users to access some content for free, while exclusive content can be viewed after subscribing to a plan.
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