Sequoia-backed PressPlayTV goes for an overhaul
Sequioa Capital-backed Press Play Pvt Ltd, which runs over-the-top (OTT) platform PressPlayTV, has given the app a complete makeover which includes change in content line-up as well as the business model.
"The rich content across varied categories makes PressPlay TV an alluring proposition for the user," said Anand Sinha, co-founder and chief executive, PressPlayTV.
Last April, the company raised $2.2 million from Sequoia Capital and other angel investors including Jason Hirschhorn (former co-president, MySpace), Jarett Posner (managing partner, Posner Group LLC), and Amit Bhatiani (partner, CX Partners).
As part of the makeover process, the OTT platform content now has short format videos of two minutes duration as well as long form ones. From Hindi movies to television shows, trending internet videos, news, sports, fashion, the revamped app will now have more than 50 channels. The firm has also inked content deal with broadcasters such as Lehren TV, Sun Network and Sony India, it said in a statement.
The app now also has a 'social feed' video segment, where the in-house team uploads curated content.
Only 6 MB in size, the revamped app is also the lightest one in India, claims the company. The company plans to launch an iOS app and desktop browser soon.
"The Android, iOS apps along with the desktop browser will give us unparalleled reach amongst the target audience. With desktop browser we will reach out to the PC and laptops users, further expanding our penetration," adds Sinha.
PressPlay, which at present follows an advertising-led business model, also plans to introduce premium content. Subscription based video-on-demand (SVoD) and transaction video-on-demand (TvoD) are the two revenue streams it plans to add. This is expected to help boost revenues. Meanwhile, it will continue to earn money on free content from advertising.