Focus for 2021 is improving customer retention, deeper audience-engagement, and acquiring a new set of audiences: Divya Dixit, ALTBalaji
Divya Dixit, SVP, Marketing, Analytics, and Direct Revenue, ALTBalaji
The low cost of mobile data and affordable smartphones have revolutionized the OTT video streaming landscape in India, with over 40 OTT platforms serving the market. The market is expected to hit $5 billion by 2023, according to the global management consulting firm Boston Consulting Group (BCG). Satisfying the market needs is possible with affordable pricing, diverse content bouquet, buffer-free experience and immersive innovations.
ALTBalaji, a homegrown OTT platform, has always stayed of the curve across content, marketing, partnerships and revenue models; and forthcoming year will see our strategy being defined by these several focal points:
Innovation is the mainstay at ALTBalaji across all our departments, be it brand and content marketing, performance, product or content teams. Each of our verticals is empowered and responsible to bring forth ideas that excite consumers and ease the user’s journey. We’ve displayed the same through our engaging content for the masses paired with award-winning marketing and innovations, thereby creating brand reputation for the app at global scale as well. 2021 will see us pushing the envelope harder on innovations across UI/UX, creating a pipeline of content, new business models and marketing strategies.
Talking to Bharat Audience
Our goal has always been content massification and with the next billion internet users set to hail from the Hindi heartlands, India’s digital industry promises a host of fresh avenues to explore and expand. Leading by example, ALTBalaji, will focus on creating a pipeline of content that will focus on this emerging market. We will aggressively focus on the emerging youth from smaller towns as well as develop new concepts for the digital-first audience segment of 20-40 years.
Original Content Bouquet
With an extensive library of 68+ originals across genres that cater to diverse segments of audience, the shows at ALTBalaji are a mix of thriller, drama, romance, youth drama, horror, comedy etc. We have also created an efficient business model to manage costs much below of what the market spends today while continuing to reign as a leader in the number of original show launches. Working towards its goal, we will create an efficient content pipeline of Originals that is locally relevant.
Direct Subscriber Base
As the race to win the audience intensifies, the success of every OTT platform in the country will be decided on how they acquire new subscribers, retain what they have, and at what cost. We have doubled our direct subscriptions and direct revenue YOY since the launch and the focus for 2021 is based on improving customer retention, deeper audience-engagement, and acquiring a new set of audiences with every original launch. Post Covid, while the content consumption pattern and platform have seen drastic changes, individual and inclusive viewing has continued on parallel tracks on digital. To complement this further, we will drive innovation-led alliances across platforms, apps, influencers, media etc.
Multi Device Strategy
With low data tariffs and increasing smartphone penetration, mobile will be THE streaming device to consider. While mobile devices are dominant, it is also crucial to note, Smart TVs and the Amazon Fire Sticks are just as important for a third of South Asian viewers. A consumer might watch the OTT service on multiple devices, including on streaming sticks, and we will focus on including big screen devices in our device reach strategy as well as ensure that the user experience is seamless across all devices.
Having set milestones and breaking new ground since its inception, ALTBalaji has been at the very forefront of curating clutter-breaking offerings for the masses of the country. We continue to be a leader in the original Hindi SVOD segment, bringing in stories with unique narratives at affordable costs. Growing from strength to strength on the back of innovative business strategies, we have today become one of the major players in the Indian OTT industry.