Video consumption in India is currently experiencing a tremendous growth rate; and in case anyone had any doubts regarding this fact, then VOOT is the proof.
Led by Reliance Industries, Viacom18’s digital arm will soon launch an online video-on-demand service which would cater to the restless, always-on-the-go generation of Internet savvy Indian netizens. Named as VOOT, their logo and brand identity was recently unveiled.
Design and brand consultancy firms Brand Gym and Elephant Design have created VOOT’s brand identity and logo, which represents happiness, enthusiasm and triumph.
VOOT would be basically an over-the-top platform, leveraging Viacom18’s vast media and entertainment properties. Indian media and entertainment industry, pegged at Rs 1,15,500 crore as of now, has a vast share of TV industry, which is valued at Rs 60,000 crore. Viacom18 is aiming to bring this content generated from their own backyard into the digital space.
Gaurav Gandhi, COO, Viacom 18 Digital Ventures said, “VOOT will not only target to gain a sizeable share of this market over the years, but also lead the way and set new trends in original content creation in this space,”
Besides offering their own content, VOOT will also create digital-only exclusive content, and offer them on demand.
OTT led on-demand entertainment on digital space is now crowded with veteran players. Once VOOT is launched in next couple of months, it can face intense competition from:
- Hotstar: Star Group’s on-demand platform for TV and Movies; available as free app right now & website
- SonyLiv: Sony Group of channels’ on-demand entertainment service, available on mobile and web
- Ditto TV: Backed by Zee Entertainment, provides on-demand TV shows and movies
- Box TV: Times of India’s on demand video and TV streaming service, available on web and mobile
Besides, there are several independent OTT players in this niche such as Spuul, HOOQ and Hungama Play, which are attempting to make some serious in-roads into the business. Advertisement based revenue model has been their forte as of now; something which VOOT will attempt to replicate.
However, ever since Youtube launched their paid subscription program: Youtube Red, there has been a new buzz in the industry.
In a way, VOOT and other such on-demand video platforms would indirectly compete with Youtube Red as well; and it would be really interesting to observe which among them is able to entertain the restless Indian netizens the most.