Viacom18 is the results of the 50/50 joint venture between the American media conglomerate and Network 18, an Indian mass media company owned by Reliance Industries. The firm launches the brand Voot an OTT service which depends on advertisements for its revenue will add up news services.
This new application is available on the Apple Store as well as Google PlayStore with as of today about 25 million users and 40 minutes of usage per day and per person. Which is “one of the highest in this space” declared Viacom 18 CEO Sudhanshu Vats.
During 2017, the ad-based model has known some setbacks and as Sudhanshu Vats described it a “deceleration”. Even though he admitted to be confident and commented: “March was a better month. There is recovery as we come into it, but not complete recovery”
Viacom18 introduced 10 new channels last year. Five feeds are now in HD, invested into the creation of a local content such as Shaadi Boys or Badman. Which gives Sudhanshu Vats hopes for the future as he claimed: “we will continue to make investments and grow as we go forward”