OTT Platform Viu to Shut Operations in India
The Asian OTT platform, Viu, has fallen victim to the intense competition in the Indian OTT space and decided to shut operations in the country. Here’s all we know…
Viu India, the PCCW Media-owned OTT video-on-demand streaming platform, which entered the Indian digital space in 2016, has decided to discontinue its operations in India.
Viu India’s collection of original web series includes names like ‘It happened in Hong Kong’, ‘Memories’, ‘Love, Lust and Confusion’, ’13 Mussoorie’, ‘Banned’, ‘Gehraiyaan’, ‘Social’, and ‘Spotlight’, among several others. It follows a freemium model where users can avail some ad-supported content for free, but to access ad-free and exclusive content, viewers need to subscribe to a plan. The platform seems to be the first victim to the hyper-competitive and cash-intensive OTT space in India.
Over the past four years, It had expanded its base to over 17 countries, including India, and had emerged to be one of the top OTT platforms in South East Asia, Middle East, and South Africa, achieving around 36 million monthly average users.
In a statement, Viu accepted that business in the Indian OTT space is challenging, acknowledging that while many Indian consumers are still relatively new to their journey on the digital space, the level of hype and investments are extremely high and Viu finds no current path to sustained monetization, leading them to pause additional investments in India. Viu, however, will continue to prioritize their investments in the Southeast Asian, Middle Eastern, and South African markets.