PlayboxTV's Bold Move: Investing in Vertical-Format Content
PlayboxTV is investing Rs 25 crore to develop its vertical-format content segment called PlayShots, anticipating an annual revenue of Rs 100 crore. This strategic shift aligns with the rising trend of short-form storytelling, particularly in the Indian entertainment industry, as consumers show growing interest in micro-dramas.
- Country:
- India
PlayboxTV has announced a significant investment of Rs 25 crore over the next 18 months to expand its newly-launched vertical-format content segment, PlayShots. The company projects an impressive annual recurring revenue of Rs 100 crore from this venture, according to Aamir Mulani, Founder & CEO of PlayboxTV.
The OTT platform, which aggregates content from over 30 apps and more than 350 channels in 10 languages, is enhancing its user experience with this strategic entry into the micro-drama segment. PlayShots will offer original Indian stories in under 10 minutes, catering to the growing demand for vertical content.
Industry experts predict a rise in vertical content consumption, mirroring trends seen in global markets such as China, where micro-dramas have surpassed traditional films in revenue. India's diverse entertainment landscape is similarly poised for growth in this format, as emphasized by Mulani and highlighted by Prime Minister Narendra Modi at the recent WAVES summit.
(With inputs from agencies.)
ALSO READ
NZ Launches 5-Year Suicide Prevention Plan with $36M Annual Investment
IFC Partners with Lao PDR to Boost Private Investment and PPP Reforms
Hindustan Zinc Ltd's Ambitious Expansion Plan: Doubling Capacity with Rs 12,000 Crore Investment
Nuveen Expands with Strategic Acquisition of Brooklyn Investment Group
Denmark's Strategic Investment in Greenland's Future
Google News