The OTT platform which claims to have 4 million subscribers is not in a hurry to break-even
Dish TV’s over-the-top platform Watcho claims to have recorded a 50% surge in content consumption in March 2020, as it added one million new subscribers. The video streaming platform went behind a paywall this February, post which it claims to have posted an increase in usage. Currently, video streaming platforms claim to have 4 million subscribers. “The steep hike in subscriber base is on the back of new content, which was added recently,” Sukhpreet Singh, corporate head – marketing, Dish TV India and Watcho, said.
The company claims that nearly 75% of the total content is syndicated, that is, through tie-ups with other content production firms while the remaining 25% is original content. Watcho currently has over 30 original content and plans to add more original content. This year Watcho plans to release two original shows a month along with additional ‘top-up content’ such as daily love signs, weekly topical or interactive content, street foods, among others. “Because of the disruption created by Covid-19 , there might be a bit of a hiatus as far the addition of new content is concerned. Nonetheless, we will have new shows very soon. We are also in the process of shortlisting interesting properties from various genres along with musicals and gaming content for Watcho,” Singh added.
Launched in April 2019, Watcho focuses on short format content of about 15 minutes in duration across genres including web-series, topical shows, shayari (poetry) based shows, skill-based shows such as cooking and recipe. The platform considers people between the age of 14-28 as its target group (TG). “We focus on the youth population of tier 2 and tier 3 cities and based on that we have short content which is the preference of viewers nowadays,” Singh stated.
Even though Watcho has seen a rise in revenue from paid subscribers, much of the money is being invested in acquiring new customers through marketing initiatives and creating new content. “We are not expecting Watcho to be a revenue spinner in the first year of its operations itself. Right now, our main concern is that the platform should have good penetration,” he explained.
According to the BSE, DishTV clocked Rs 3937.8 crore as revenue from operations in the third quarter of FY20. The direct-to-home (DTH) provider posted Rs 1289.4 crore as profit for the same period. The company has not posted its Q4, FY20 financial results as of yet.