New Delhi [India], March 28: India's video streaming audience numbers over 547.3 million as of August 2024. The cheaper internet has propelled the OTT users to a record high. While active paid subscriptions are not making much advancements, smartphones remain the dominant choice for online video consumption, with 97% of viewers using them, and a significant 81% relying exclusively on their smartphones for OTT content. With increase in advertisement revenue, the investors from the UAE and other countries are looking to grab a pie of the fast-rising sector.
Recently, UAE-based investment firm Royal Cut Investment invested AED 50 million in Royal Rapchee Entertainment as the firm launched its advanced OTT (Over-The-Top) streaming platform 'Royal Rapchee'. The platform is initially launching in the UAE and India. In the next phase, it plans to introduce franchises across other Asian countries, including Pakistan, Bangladesh, Nepal, and Sri Lanka. Subsequently, the platform will further expand into key Middle Eastern markets such as Saudi Arabia, Qatar, Bahrain, and Kuwait.
With the OTT platforms gaining popularity, the investors are keen on tapping the sector. The OTT growth in India is being driven by AVoD audiences, with most new users consuming content exclusively on YouTube and social media. The stagnation in the SVOD audience size highlights a broader trend, where free content is fueling OTT expansion, particularly in small towns and rural India.
Speaking to the media during the launch events, Founder and Managing Director of Royal Rapchee, Mr. Dharam Gupta, "The aim of Royal Rapchee is not only to provide entertainment but also to introduce young talent globally. We are committed to offering world-class digital content at an affordable price."
The project has received a significant investment of AED 50 million from the prominent UAE-based investment firm, "Royal Cut Investment." On this occasion, special thanks were extended to the Chairman of Royal Cut Investment, His Excellency Humaid Mohamed Ali Rashed Alkalbani.
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