Studio Mojo, a company focused on bringing together content creators and Over the Top (OTT) video platforms such as Netflix, Amazon Prime and Voot, as an intermediary is optimistic about the market for its services growing in the South.
Chennai:
The company was set up in 2017 by Radhakrishnan Ramachandran, the former CEO of iStream.com. The aim of the enterprise, is to tap into the fast-growing regional video entertainment market. Speaking at the vidnet2018 event held in Mumbai, recently, Ramachandran said, “We work on a multi-tier model to create great content – the formats and platforms are secondary. Our team which scouts for fresh talent, meet up with scriptwriters and directors across languages, and our expert panel vets the scripts. Following this, we pitch these concepts to various OTT platforms depending on the language, genre and scale.”
The portal has 15 channels, 1.5 mn YouTube subscribers and 100 mn monthly views. Talking about the company’s achievements, he says, “Our first digital series for Zee 5 – Utsaha Itihasam was directed by a newcomer and won big at the Seoul Web Fest. We give opportunities to many talented assistant directors (ADs) and our second series, a bilingual, is directed by one such AD. We are also partnering with well-known names in the industry and we have signed on 10 major directing talents in Malayalam cinema to create a Love Anthology series. We have earmarked a million-dollar fund for creating pilot episodes, which helps showcase the talents to OTT players.”
The Indian OTT landscape has no less than 30 OTT platforms operating at full force as of now. And as per Frost & Sullivan’s report on the OTT services market in India (2017-2022), there were about 180. 3 mn active online video viewers and 4 mn registered subscribers for such services. The sector earned about Rs 37 billion in 2017 and is expected to grow at a CAGR of 17.3 pc over the next 5 years.
Ramachandran says, “The opportunities in the space are huge - from long form original content for OTT platforms to short format content for social media networks, Telcos, DTH operators and more. We work on a revenue sharing business model with the platforms. We are also creating a 2-hour film – an OTT original of sorts which might even have a theatrical release. The big challenge is to avoid cartelisation and creating options for brands to play an even more active role in the OTT space.”
He signs off saying, “Although commissioned programming is a great revenue model, it need not always work. An OTT’s requirements might change, and their research may throw up a new need. Even the focus on language and genres may change. And it certainly takes a while to close deals.”
Having allocated a significant budget for the creation of pilots (tele series) in South Indian languages that can then be pitched to OTT majors, the Bengaluru-based company’s spokesperson believes that content will be the key differentiator in this space that will soon be seeing a major consolidation as well.
The company was set up in 2017 by Radhakrishnan Ramachandran, the former CEO of iStream.com. The aim of the enterprise, is to tap into the fast-growing regional video entertainment market. Speaking at the vidnet2018 event held in Mumbai, recently, Ramachandran said, “We work on a multi-tier model to create great content – the formats and platforms are secondary. Our team which scouts for fresh talent, meet up with scriptwriters and directors across languages, and our expert panel vets the scripts. Following this, we pitch these concepts to various OTT platforms depending on the language, genre and scale.”
The portal has 15 channels, 1.5 mn YouTube subscribers and 100 mn monthly views. Talking about the company’s achievements, he says, “Our first digital series for Zee 5 – Utsaha Itihasam was directed by a newcomer and won big at the Seoul Web Fest. We give opportunities to many talented assistant directors (ADs) and our second series, a bilingual, is directed by one such AD. We are also partnering with well-known names in the industry and we have signed on 10 major directing talents in Malayalam cinema to create a Love Anthology series. We have earmarked a million-dollar fund for creating pilot episodes, which helps showcase the talents to OTT players.”
The Indian OTT landscape has no less than 30 OTT platforms operating at full force as of now. And as per Frost & Sullivan’s report on the OTT services market in India (2017-2022), there were about 180. 3 mn active online video viewers and 4 mn registered subscribers for such services. The sector earned about Rs 37 billion in 2017 and is expected to grow at a CAGR of 17.3 pc over the next 5 years.
Ramachandran says, “The opportunities in the space are huge - from long form original content for OTT platforms to short format content for social media networks, Telcos, DTH operators and more. We work on a revenue sharing business model with the platforms. We are also creating a 2-hour film – an OTT original of sorts which might even have a theatrical release. The big challenge is to avoid cartelisation and creating options for brands to play an even more active role in the OTT space.”
He signs off saying, “Although commissioned programming is a great revenue model, it need not always work. An OTT’s requirements might change, and their research may throw up a new need. Even the focus on language and genres may change. And it certainly takes a while to close deals.”