Mumbai: Streaming platform ALTBalaji recently launched its first reality show "Lock Upp" through an advertising-based video on demand (AVOD) model. The AVOD system allows viewers to access the free original content. This strategic move by ALTBalaji is on its way to set a new benchmark in the Indian entertainment industry.
The Kangana Ranaut-fronted show turned out to be a great success for the streaming service platform. On the subscription video-on-demand side (SVOD), ALTBalaji has witnessed 36 per cent quarter-on-quarter growth in FY21. In addition, the platform saw a 75 per cent increase in active subscriber base to 2.1 million from 1.2 million last year, compared to the same period the previous quarter in 2020. As a result, the platform has more than 35 million subscribers with nine million monthly active users, according to the streaming service.
With over 80 per cent of ALTBalaji's audience under 35 years of age; an exciting library boasting 91+ original shows and many in the pipeline; a flourishing SVOD business; AVOD is the next step in building the business further.
For the first time, a platform with no network support has attempted to build an AVOD business, as it garners a record number of views based on the strength of the path-breaking content that it delivers regularly. According to the platform, the goal is to reach out to an even wider audience base, penetrating further into the hinterlands.
Speaking on this success, ALTBalaji spokesperson said the introduction of AVOD will not only be an added layer of advertising revenue to existing revenue streams but will also help them drive further subscriber base via cross-sell and up-sell. “We are excited about providing a further simplified and seamless experience with thousands of hours of free content for mass India," added the spokesperson.
ALTBalaji has a history of creating ventures and opportunities that are very well received by the audience. Currently catering to an MAU base of 10+million, it has sold 2.9 million subscriptions in H1 alone. The platform sees an audience engagement metric of 83 minutes per day, with different genres catering to varied audiences. According to a recent report by global technology research powerhouse Omdia, AVOD streamers will flourish over the next three years and will hit revenues of almost $260 billion by 2025.
