Inshorts is currently testing short-form video-based news to tap vernacular user base and is expected to launch the service in January 2019
Popular news aggregation app Inshorts has doubled its annual revenue rate to Rs 60 crore per year in the last six months from Rs 30 crore a year, co-founder and CEO Azhar Iqubal told FE Online. Inshorts also posted EBITDA positive growth in Q3 2018. “Coincidentally, the company’s total revenue till October is also Rs 60 crore since starting revenues in 2016,” the company said in a statement.
“The ratio of revenue between ads and sponsored content is 50:50. Currently, we have more than 250 advertisers such as Vodafone, Mercedes, OnePlus, Amazon, Netflix. We touched operational profitability in November 2017,” said Iqubal.
Founded in 2013 by Azhar Iqubal, Deepit Purkayastha and Anunay Pandey, Inshorts forayed into branded content and launched its first ad in July 2016.
Inshorts is currently testing short-form video-based news to tap vernacular user base and is expected to launch the service in January 2019. “Our product roadmap will be to focus on short-form video-based news format as videos consumption for vernacular content is growing,” said Iqubal. “Vernacular users are more interested in video news than textual news.”
The videos are currently being tested in Hindi language and would later be expanded to other languages as it gains traction. “The response in beta has been quite good so far but the sample has been very short,” said Iqubal.
Inshorts with its 60 words news format focuses on the fast-paced environment and people who want to read the news without investing much time on a particular subject. “Popular apps like TikTok are also into short-form content because short-form content is sharply rising for news and informational content. It is the future for all kinds of content including news, videos, opinions etc.,” said Iqubal.
Inshorts majority users come from tier I and tier II cities. Apart from existing ad formats, it also has designer/fact card and banner card ads. Currently, it has over 10 million app users even as it claims to add 10 advertisers every month.