Building a "Live Social Entertainment Platform" with Successful Monetization?
Plus Reality TV's New Frontier using Streaming
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The Digital Shift: Reality TV's New Frontier
From Traditional Television to OTT Domination
For years, traditional television has been the go-to platform for reality shows, with popular programs like Indian Idol and Bigg Boss captivating audiences nationwide. However, this landscape is rapidly evolving. Today, over-the-top (OTT) platforms have become the preferred destination for these shows. Iconic programs like Bigg Boss and new favorites like Laughter Chefs have found a new home in the expansive digital realms of streaming services.
The Rise of Reality Shows on OTT Platforms
According to a recent FICCI-EY report, while genres like drama, crime, action, and thrillers continued to dominate OTT viewership in 2023, reality shows have started pulling in massive audiences. This trend is expected to grow even further in 2024. The shift from television to OTT isn't merely a change in medium; it represents a fundamental transformation in how content is created, consumed, and monetized.
The Indian OTT Landscape: A Booming Market
Explosive Growth in Subscriptions
India is emerging as a massive market for OTT platforms. In 2023, revenue from subscriptions for OTT platforms across the country amounted to nearly Rs 7,300 crore, and this figure is expected to exceed Rs 10,000 crore by 2026. The overall number of paid online video subscriptions in India reached 97 million in 2023, as per a 2024 Statista report. This rapid growth is mirrored in the reality show segment as well. For instance, Laughter Chefs on JioCinema achieved remarkable success, recording a reach of 687 million, 1.4 billion impressions, and 570 million video views on social media, as reported by Viacom18 in July 2024.
Why OTT is Ideal for Reality Shows
The interactive nature of digital media makes OTT platforms the perfect environment for reality shows. Unlike traditional television, digital platforms offer a higher level of engagement. "The interaction with the audience moves to the next level," says Uday Sodhi, founding partner of Kurate Digital. "Television is not an interactive medium. In KBC, there is a game that runs where users can also play. In my opinion, more interesting shows in the future are going to be digital, where consumers will be able to participate more actively."
OTT platforms offer a myriad of ways to enhance viewer participation, such as gamification, interactive voting, and direct engagement through social media. These features make digital reality shows far more dynamic and engaging than their TV counterparts.
Financial Implications: The Lucrative Model of OTT Reality Shows
Subscription Revenue and Targeted Advertising
The financial impact of this shift is significant. OTT platforms provide a lucrative model for reality shows, driven by subscription-based revenue and highly targeted advertising. Additionally, OTT platforms have opened doors to a global audience. Indian reality shows can now be accessed by viewers worldwide, significantly expanding their reach and influence.
Bundled Content and Ad Sales
This international reach has not only increased visibility but also expanded the revenue streams for these shows. "Both sponsorship and pay sales have evolved along with consumption," notes a senior media analyst. "As consumption has gone to TV plus digital, makers have been able to sell bundled content. Additionally, show makers can also sell the show as digital as a separate add-on to those brands who cannot afford the huge amounts charged for TV. This has increased the base of advertisers because much smaller ad campaigns on digital can be taken as compared to TV, and therefore, it’s been beneficial from a revenue perspective as well."
A New Era for Reality Shows
The migration of reality shows from traditional television to OTT platforms is more than just a trend—it's a seismic shift in the entertainment landscape. With the promise of higher engagement, broader reach, and more flexible monetization strategies, OTT platforms are poised to become the dominant medium for reality shows in India and beyond. As we look ahead, the future of reality TV is undeniably digital.
[Inputs taken from The Financial Express]
Agenda
Eloelo: India’s live social entertainment platform
A brief look at an Eloelo investor’s point of view
And….Action!
Eloelo: India’s live social entertainment platform
Introduction: What is Eloelo?
Eloelo is a dynamic live social entertainment platform that empowers creators to host interactive video and audio livestreams, fostering deeper connections with their viewers and fans. Offering 24x7 livestreams across multiple local languages, Eloelo opens up a world of entertainment, community, and connection. Whether you're a content creator or a consumer, Eloelo offers something for everyone, making it a digital companion for India's youth.
The Eloelo Experience: Features and Offerings
1. Social Live Streams
Eloelo allows users to connect and interact with new people through live streams. This feature brings together diverse communities across India, making it a vibrant space for social interaction and entertainment.
2. Multiplayer Games
Eloelo offers free-to-play multiplayer games, adding a fun and engaging layer to the platform. Games like Chhidiya Udd, Tambola, and Dumb Charades recreate the nostalgia of traditional Indian social games, bringing these experiences into the digital age.
3. Chat and Audio Calls
With features like chat and 24x7 audio calls, Eloelo ensures that users stay connected with their friends and the broader community. The platform supports communication in seven languages: Hindi, Marathi, Bengali, Tamil, Telugu, Punjabi, and English, catering to India's linguistic diversity.
Eloelo's Mission: A Digital Companion for India's Youth
Eloelo's mission is to serve as the digital companion for India's youth. This mission is brought to life through creator-led audio-video live chatrooms and interactive formats that encourage large-scale community building. By focusing on interactivity and inclusivity, Eloelo stands out as a platform crafted especially for Indian users.
What Sets Eloelo Apart?
1. Moderated Live Streams
Eloelo employs rigorous AI-driven moderation to maintain a safe and welcoming environment. With a zero-tolerance policy for nudity, abusive language, and other violations, the platform ensures a positive experience for all users.
2. 24x7 Livestreams
There's always something happening on Eloelo. The platform offers continuous live streams, ensuring that users can always find content that interests them, no matter the time of day.
3. Made for Indians, By Indians
Eloelo is a product built with Indian users in mind. It’s a safe space where users can unwind, open up, and have meaningful conversations. With over 50 million downloads on Google Playstore and a 4.0 rating, Eloelo has proven its appeal and relevance in the Indian market.
A brief look at an Eloelo investor’s point of view
Eloelo has raised $22 million in its pre-series B round, led by Courtside Ventures and Griffin Gaming Partners. Since its founding in 2020, Eloelo has combined audio and video live chat rooms with interactive games, building unique intellectual properties (IPs) around these offerings. The company is now focused on pioneering technologies, particularly in creator-centric deep tech products and AI-based content moderation.
Why did Kalaari Capital invest in Eloelo?
Kalaari Capital's investment in Eloelo is rooted in a belief in the platform's potential to become a dominant force in India's creator economy. Similar to how Kaun Banega Crorepati captivated Indian audiences with its interactive format and engaging host, Eloelo offers a new platform for the next generation of stars to build massive followings and engage deeply with their audiences.
The Rise of Micro-Influencers and the Creator Economy
India’s creator economy is booming, with data consumption per smartphone among the highest in the world. As smartphones become more affordable, more Indians are gaining access to tools and platforms that enable content creation and monetization. Eloelo taps into this trend, enabling creators to host interactive gaming sessions that feel reminiscent of TV game shows, but with the added advantage of direct fan interaction.
1. Empowering the Long Tail of Creators
Traditionally, only the top 1% of creators have been able to effectively monetize their following. Eloelo, however, offers tools that enable even smaller creators to monetize through direct fan subscriptions, exclusive content, one-on-one communication, and more. This democratization of the creator economy is at the heart of Eloelo's success.
2. The Appeal of Desi Games
Eloelo has successfully tapped into the nostalgia of traditional Indian social games, like Housie and Tambola, now available online. These games have broad appeal, especially in Tier II and III regions, contributing to the rapid growth of casual gaming in India. The platform's business model, which includes in-app purchases and advertising revenues, has been key to its success.
3. Core Thesis: Monetization Opportunities
Eloelo’s next phase of growth focuses on expanding monetization avenues for creators. By enabling creators to offer exclusive content, host private interactions, and receive tips and donations, Eloelo is building a sustainable ecosystem that benefits both creators and their fans.
Kalaari Capital’s Confidence
Saurabh Pandey, Co-Founder and CEO of Eloelo, has expressed his excitement about the platform's growth, noting that Eloelo is growing at 40 percent month-on-month. Kalaari Capital shares this enthusiasm, seeing Eloelo as a key player in the future of interactive entertainment in India.
Conclusion: Eloelo – A Made in India Success Story
Eloelo is more than just a live social entertainment platform; it’s a symbol of India’s burgeoning creator economy. By blending social games with interactive live streaming, Eloelo offers a unique and engaging experience for users across the country. As the platform continues to grow, it will play a pivotal role in shaping the future of digital entertainment and streaming in India, empowering creators and delighting users alike. We need to see if “monetization” keeps pace as investors’ barometer increasingly evaluates $$ clocked and not just user growth!
That’s all for today folks. If you enjoyed this breakdown, please consider sharing it with your friends and colleagues.
I am a fan of a well made sports documentary and this past week I had the pleasure to watch a few episodes of “Break Point” on Zee5 (release 3 years ago), which brought back great memories of watching live tennis matches of perhaps the two greatest players that India has produced - Leander Paes and Mahesh Bhupathi. This documentary is dramatic, emotional and inspirational, all at the same time. And it did make me think about the possibilities, had the two of them NOT split (and you will be shocked to know the reason for the break-up!). Riveting watch.
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