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hoichoi adds 13 million cumulative subscribers in 3 years with 40% of its direct revenue coming from International users

<ul><li>It has chosen to remain a premium player that provides original content.</li><li>Almost 40% of <keyword id="1723835" type="General" weightage="20" keywordseo="hoichoi" source="Orion">hoichoi</keyword>’s revenues come from international subscriptions – US, UK, Australia, Canada, Middle East and Bangladesh are its key overseas markets.</li><li>It’s expanding its distribution globally with tie-ups with telecom players in Bahrain, Bangladesh and more.</li><li>The group’s television background helped them maintain the timelines and stick to budgets, which helped contain creative costs.</li></ul>When Shree Venkatesh Films (SVF), a West Bengal-based film and TV production company, wanted to get into OTT in 2017 – they wanted to start small – launching five original shows across three genres under the brand name hoichoi, which means excitement. Those were early days for vernacular shows – until then Indian original series across languages mostly premiered on YouTube and were short-form content. This was just before the launch of Netflix’s Sacred Games and Amazon Prime’s Inside Edge. Much like these shows, hoichoi’s bets took off too. <div type="image" title="WhatsApp Image 2022-10-03 at 6.08.30 PM." height="900" width="1200" msid="94629590" hostid="261" sizebytes="34982" caption="&amp;lt;p&amp;gt;Soumya Mukherjee, chief operating officer of Hoichoi&amp;lt;/p&amp;gt;"></div> “We saw an initial uptick for our originals. Four out of the five shows we launched created a lot of buzz,” Soumya Mukherjee, chief operating officer of hoichoi told Business Insider India. Ever since, there has been no stopping this regional OTT platform, which now caters to over 250 million Bengalis worldwide. The platform claims to be one of its kind with over 100 originals in a single language and more than 2,000 hours of content across web series, movies, shorts, docu-series and more. Moreover, it claims to have turned profitable within five years of its launch in spite of a large number of in-house productions of original films and shows. The OTT player claims that its direct subscriptions grew 50%, with a 20% month-on-month increase in watch time, in the post-lockdown period. “Along with this, hoichoi continues to have one of the highest refresh rates in India for a single language, with close to 5-7 titles, which includes original shows, world premiere movies and Hindi-dubbed originals releasing every month,” the company said. Turu love, Tansener Tanpura, Karagar and Kaiser are some of its top-rated shows on IMDB. Premium-only The secret, Mukherjee says, lies in its pricing strategy. “From the start, we positioned ourselves as a premium product with around ₹1,000 per annum. From day 1, we knew that content had to be protected and had never looked to diversify. We want to tell great stories with a good mix of movies and shows,” he said. In the US, it charges around $10 per month - on par with what OTT giant Netflix charges in the market. The reason is the love for content in the mother tongue, Bengali, which is the second most-spoken Indian language, as per Mukherjee. “Bengalis are deeply rooted to their culture wherever they are,” he said. In fact, almost 40% of hoichoi’s revenues come from international subscriptions, including the US, UK, Australia, Canada, Middle East and Bangladesh. The OTT claims that customer stickiness is high and almost 70-75% of their subscribers renew subscriptions annually. It premiers a new movie every month and that aids its renewals, it claims. “While our monthly active users have increased by 40%, our international user base has also risen by 30%. Not only do these numbers make us ecstatic, but also motivate us to do even better, as we step into our sixth year,” said Vishnu Mohta, co-founder of hoichoi. Content Refresh: 25 new shows announced Hoichoi also claims to go the extra mile with its user experience. “To help some of our elderly subscribers, we send our people to visit personally and demonstrate as and when needed,” says Mukherjee. As India’s first vernacular OTT enters its sixth year, it announced 25 new shows – four from Bangladesh and 21 from India – with top creators and across genres. For its latest series, it also roped in national award-winning creator Srijit Mukherji, who is creating a crime detective show Feluda. Mukherjee attributes hoichoi’s success to Bengal’s wide talent pool of writers, producers, actors, technicians and directors, in addition to its legacy. “We imbibed the discipline of TV and the quality of films into the OTT venture,” he explains. The group’s presence in television helped them maintain the timelines and stick to budgets, which helped contain creative costs. Their targeted marketing also helped contain marketing costs to 20% of the overall revenue — which Mukherjee claims is one of the lowest in the industry. Over the years, hoichoi launched a lot of new faces, but is also now focusing on bringing in bigger actors into its fold. “Naturally production costs will increase but in terms of revenue growth we are doing ok,” he says. Distribution strategy Last year, the platform became a part of Prime Channels – where multiple OTTs can be subscribed to. While it is seeing traction for its Hindi-dubbed library on Prime Channels as well as on MX Player, it wants to remain rooted in Bengali. Its best-performing show on both these platforms was Charitraheen. It has also partnered with Jio, Airtel XStream, Tata Play and Dish TV and is looking at deep integration within and outside India as well. It has tied up with Bangladeshi telecom players Grameenphone, Robi and Banglalink and also Bahrain-based telco Batelco. Also, the player is not too worried about password sharing, which is the blight of its business. “We do not see too many cases of password sharing. We only offer two simultaneous streaming across five devices,” Mukherjee says. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/auto-sales-remain-buoyant-in-september-with-reports-of-a-good-festive-season-ahead/articleshow/94622721.cms">Auto sales remain buoyant in September with reports of a good festive season ahead</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/electronics-mart-india-ipo-set-to-open-on-oct-4-commands-grey-market-premium-of-30/share/articleshow/94620046.cms">Electronics Mart India IPO set to open on Oct 4; commands grey market premium of ₹30/share</a>

This pioneering regional OTT has turned profitable in 5 years – here’s how

<ul><li>After the pandemic, many of us were stuck within the four walls of our houses and OTT platforms like <keyword id="128682" type="General" weightage="20" keywordseo="netflix" source="Orion">Netflix</keyword>, Amazon Prime and <keyword id="2739840" type="General" weightage="20" keywordseo="hotstar" source="Orion">Hotstar</keyword> sometimes became the only source of entertainment in our lives.</li><li>The pandemic also gave a push to the regional <keyword id="9056838" type="General" weightage="20" keywordseo="ott-industry" source="Orion">OTT industry</keyword> and saw the birth of native language streaming players like Hoichoi, aha, Sun NXT, Planet Marathi, Koode, and City Short TV.</li><li>As per experts, the regional OTT players have already captured 50% of the OTT market in less than 3-4 years.</li></ul>Kaiser, the homicide detective who tries to deal with double murders and his own demons side by side; then there is Three Roses – with young girls who are in the middle of to-be-married mess in the complex Indian juxtaposition of tradition and independence. Yes, you have guessed it right. They are all topics of superhit web series but you can’t find them on Netflix, Prime or even Disney Hotstar – they are from Hoichoi, Bengali OTT and aha, a Telugu and Tamil OTT, respectively. Apart from regional cinema taking over <keyword id="143" type="General" weightage="20" keywordseo="bollywood" source="Orion">Bollywood</keyword>, a silent revolution is underway where regional OTTs are taking away the eyeballs of Indians – by offering them quality content in their mother tongue. And, there are a lot of these. Of the total <a href="https://www.businessinsider.in/business/news/a-cred-like-platform-is-what-indian-ott-users-want-to-juggle-multiple-subscriptions/articleshow/92570894.cms">60 OTT </a>platforms in India, around 12 of them are exclusively regional across languages like — Sun NXT, Planet Marathi, Koode, and City Short TV, which is a hyperlocal content OTT. One movie, every week According to a FICCI-EY <a href="https://www.financialexpress.com/brandwagon/regional-ott-on-the-rise-as-subscribers-choose-native-language-over-hindi/2272860/">report</a>, the share of regional language consumption on OTT platforms will cross 50% by 2025 from the 30% share it held in 2019. As per FICCI-EY though, regional consumption is expected to surpass Hindi, which is predicted to touch a 45% consumption rate. But a few players are confident that it has already hit this number. “The regional OTT market today probably is 50% already of the total OTT market size in India, including all regional languages. It is set to grow faster than Hindi for sure,” Ajit Thakur, CEO of Telugu and Tamil OTT platform aha told Business Insider India. The OTT, which is adding one movie every week, has touched 10 million monthly active users (Maus) in two years. Its app saw 30 million downloads. It has also generated $2 million in non-subscription <a href="https://www.afaqs.com/news/media/telugu-ott-platform-aha-to-rely-on-avod-to-break-even">revenue </a>in the last six months and is considering adding gaming onto its platform and becoming a super app. Aha also intends to target Tamil-speaking viewers as well after winning the hearts of the people who speak the fourth most spoken <a href="https://www.bbc.com/news/world-45902204">language </a>in India and also one of the top 10 fastest-growing <a href="https://www.bbc.com/news/world-45902204">languages </a>in America. The magic price point Apart from the content, the price points of these OTTs are attractive too — as it’s akin to subscribing for a regional TV channel pack as opposed to the full range with all genres and offerings across languages – like Netflix, Prime, Disney Hotstar or even Zee. Hoichoi however has ‘eased’ its subscription with a syndication deal with mainstream OTT players such as MX Player and Amazon Prime. Hoichoi, one of the earliest regional OTT platforms to launch in India, is trying to capture the 250 million Bengali speakers across the world. “The generic OTT market has grown at least 30-50% over the year and we've all outpaced that industry by a fair margin. We've got about 120 odd shows, in addition to about 600-700 movies. In fact, April, May and June were bigger than COVID months for us,” Vishnu Mohta, co-founder of the Bengali streaming platform told Business Insider India. Its extensive content library remains unmatched in the OTT universe. But Mohta says that it’s just ‘getting started’. “I see a stable growth trajectory for the next five years,” he said – which is much higher than the growth in ‘national’ OTTs. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">OTT platform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Plan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Netflix </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Annual mobile </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1788 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amazon Prime Video </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Annual </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1499 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">aha </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Annual </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹299 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hoichoi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Annual </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹999 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Planet Marathi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Annual </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹365 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Trending across 7 countries Planet Marathi was a pandemic baby as it was launched during the lockdown. As the name suggests it caters to Marathi-speaking audiences India and abroad. <div type="image" title="Planet marathi" msid="92795598" hostid="261" caption="&amp;lt;p&amp;gt;Planet Marathi&amp;lt;/p&amp;gt;"></div> It already has a superhit web show to its name – Raanbaazaar, which delves into the murky world of politics and two escorts and the mindgame involved. The show became the most-watched Marathi series on OTT and trended across seven countries – thanks to the state’s extensive expat population. “We launched 13 Planet Marathi originals and have another 24 planned out over the next year. Our viewership comes from India and across the world. There has been an increase in the stickiness of the content, with time spent by users increasing almost 350% after Raanbaazaar’s release,” said Akshay Bardapurkar, founder of Planet Marathi. In the meanwhile, top OTTs haven’t been ignoring these viewers either. In fact most of them release regional movies and shows with audio and subtitle options – thereby ‘extending’ the reach of regional content to non-regional players as well. The best example in this list is the recently launched Modern Love Hyderabad which has an original Telugu show dubbed across five languages including Hindi and English, for those who want to catch the flavour of the show in their own language. ZEE5 too has <a href="https://www.businesstoday.in/latest/corporate/story/zee5-plans-to-triple-investment-in-tamil-telugu-content-in-2022-328762-2022-04-05">tripled </a>its investment into regional content this year and international player <a href="https://www.thehindubusinessline.com/info-tech/netflix-on-the-lookout-for-regional-language-content-in-2022/article37835172.ece">Netflix </a>is also looking to deeper inroads in India by zooming in on regional market — but whether they would be able to win the war in every regional turf across India is left to be seen – as India has 121 official <a href="https://indianexpress.com/article/india/more-than-19500-mother-tongues-spoken-in-india-census-5241056/">languages </a>and 19,500 mother tongues.

Hoichoi, aha and Planet Marathi - regional OTTs challenging Netflix, Prime and Hotstar

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hoichoi adds 13 million cumulative subscribers in 3 years with 40% of its direct revenue coming from International users

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This pioneering regional OTT has turned profitable in 5 years – here’s how

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Hoichoi, aha and Planet Marathi - regional OTTs challenging Netflix, Prime and Hotstar

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