Viral Dose Of Short Video Apps Continues
A year ago, the short-video space in India was ruled by TikTok, however, since its ban in the country by the government citing sovereignty and security concerns the segment had to undergo a massive disruption.
Multiple platforms with their unique offerings have since taken a front seat to fill the void that was created by the ultra-famous. Some of these include Josh, owned by the Dailyhunt; MX Takatak, backed by video streaming platform MXPlayer; Moj launched by social media network ShareChat; Mitron TV, Roposso, Chingari and the likes.
According to recent industry surveys, the short-form video content is the fastest-growing content segment in India. Reports also suggest that the short-form video user base is back to nearly 97 per cent of where it was before the TikTok's ban and this can be attributed to the impact created by homegrown platforms.
Homegrown Apps Leaving A Mark
Shivank Agarwal, CEO & Co-Founder, Mitron TV suggests “The youth of India, both urban and from Tier II and III markets, have been very active on short format video apps. The creators have moved to their preferred app and have been engaging with the community in the same way they did on Tiktok.
At Mitron a community-first approach has allowed us to build committed communities of like-minded people who not only watch videos but also engage with one another in a seamless manner. People-to-people contact should be the focus of a true social media app. That is a key value for us at Mitron.”
TikTok was certainly a front runner of the category and its exit left a considerable hollow in the ecosystem. However, it also paved way for homegrown apps that were able to leverage this category within months of the exit.
Karan Bedi - CEO, MX Player and MX TakaTak says that MX TakaTak has also managed to retain a large chunk of TikTok’s consumers. He adds, “We have emerged as a market leader in this category with over 150 MN monthly active users. Our recommendation engine provides highly personalised feeds that match user preferences with compelling content created by some of India’s most loved KOLs as well as a large number of talented long tail creators. We host over 21Mn+ unique content creators and our mobile first creation tools ensure that this community can curate engaging videos for audiences to enjoy across the country.”
It must be mentioned that affordable data prices and strong smartphone penetration in the country makes it a perfect market for these apps which are available without a subscription fee, unlike most other OTT platforms. According to Shashank Shekhar, Director - Content Strategy, Moj short videos have become the preferred mode of entertainment for users across the globe and this trend rose to greater heights in India in 2020. He asserts, “In the year 2020 we saw a variety of content creators, creating very unique and niche short video content. As the video creation increased, more videos were available for consumption, which led to further engagement and sharing, and this ultimately resulted in more demand.”
“This growth can be attributed to the efforts of all the short video content creators in India. In the last ten months, on Moj we have seen 18 million unique creators whose content has attracted over 2+ billion views every day and over 8+ billion minutes of video played per month,” adds Shekhar.
New Playing Field For Content Creators
It was extremely unfortunate that TikTok’s follower count that creators had earned with consistent efforts over a long period vanished within a day. Agarwal believes that nothing can compensate for that loss but, now they also have a multitude of applications to choose from. He asserts, “The TikTok ban certainly helped the homegrown apps to flourish, and users started accepting Indian brands. While Mitron was launched before the TikTok ban and we already had millions of users on our platform, the ban helped us gain more users and market share. We have the necessary technology, intelligence, and experience to beat the international apps.”
MX TakaTak also managed to retain a large chunk of these consumers and today, has over 150 million monthly active users. Bedi informs, “Our recommendation engine provides highly personalised feeds that match user preferences with compelling content created by some of India’s most loved KOLs as well as a large number of talented long tail creators. We host over 21Mn+ unique content creators and our mobile first creation tools ensure that this community can curate engaging videos for audiences to enjoy across the country.”
There is no doubt that short videos have become the preferred mode of entertainment for users across the globe and this trend rose to greater heights in India in 2020.
Shekhar rightly points out that platforms like Moj, give extended visibility to creators to showcase their talent to the world, from the easy access of their smartphones, reach millions of users and build their own community.
It is interesting how these platforms have been able to provide a newer dimension to marketers to communicate effectively with their consumers through content creators who enjoy massive followers. “Creators now have the opportunity to become influencers by integrating brand messaging into their content and help brands reach their target audiences more effectively,” adds Shekhar.
