11 October, 2023, 08:10 ET
India CTV Penetration Tripled in Last 18 Months and is Expected to Reach 60 Million Homes in 2025 With Global Ad Revenue Reaching $25.9 Billion
Bollywood Hungama is India's Premiere Bollywood & Music Entertainment Site with Over 70M Users
LOS ANGELES, MUMBAI and TORONTO, Oct. 11, 2023 /PRNewswire/ - QYOU Media Inc., (TSXV:QYOU) (OTCQB:QYOUF) a company operating in India and the United States producing and distributing content created by social media stars and digital content creators, has announced an agreement with Bollywood Hungama to launch Bollywood Hungama - Powered By The Q, a new Connected TV (CTV) channel in Q4 2023. The new channel will leverage the combined power of both companies in the world of social media with the long standing status of Bollywood Hungama as India's premiere web based and social media destination featuring all news and
gossip surrounding the world of Bollywood and the India entertainment business.
Bollywood Hungama - Powered By The Q will be exclusively available on the Q Play+ app along with leading Connected TV platforms including Samsung TV Plus, Amazon Fire TV, Xiaomi, TCL, One Plus and other Connected TV (CTV) brands. The addition of this new channel strengthens the network's growing list of channels in the emerging FAST (Free Ad Supported TV) channel ecosystem, marking a significant milestone for QYOU Media India, as it bolsters its commitment to delivering top-quality, entertaining content to its diverse and ever-growing audience base. Bollywood Hungama is the second major QYOU partnership in 2023 for CTV channels following the recently announced partnership and launch of Sadhguru TV, with global spiritual master Sadhguru.
The driving momentum for these partnerships is the explosive growth of the global CTV (Smart TV) industry which has also begun to expand its impact in India in recent years. The India CTV (Smart TV) market has tripled in size in the last 18 months with homes using CTV expected to grow to 60 million by 2025. While still relatively nascent in India in terms of television ad spend, the CTV industry globally is now responsible for generating $25.9 billion in ad revenue in 2023 according to Group M's midyear forecast. With the introduction across CTV platforms of AI-driven recommendation engines, Automatic Content Recognition (ACR) and overall data- fueled TV performance, the CTV industry is expected to dominate television viewership and ad revenue growth going forward. In the last year over 90% of all televisions sold in the country of India were Smart TV's.
Curt Marvis, CEO and Co-Founder, QYOU Media, commented "We continue to build key channel partnerships that are establishing a dominant portfolio of Smart TV channels under the Q brand. As penetration and user engagement grows, advertisers in India will increasingly rely on CTV as a primary platform to reach consumers. We have seen this happen in other territories around the world as witnessed by the massive rise in ad revenue in CTV. India is steadily joining the party and we plan on having a significant seat at the table as audiences, advertisers and revenues grow. "
About QYOU Media
One of the fastest growing creator-media companies, QYOU Media operates in India and the United States producing, distributing and monetizing content created by social media influencers and digital content stars. In India, under our flagship brand, The Q and on connected TV, via channels Q Kahaniyan, Q GameX, Q Comedistaan & Sadhguru TV, we curate, produce and distribute premium content across television networks, VOD and OTT platforms, mobile phones, smart TV's and app-based platforms. In addition, QYOU has numerous additional content destinations, apps and gaming platforms engaging over 125 million Indian households weekly. Our influencer marketing company, Chtrbox, has been a pioneer in India's creator economy, leveraging data to connect brands to the right social media influencers. QGamesMela is a recently launched casual gaming business leveraging access to the large audience enjoyed by Q India products. In the United States, we power major film studios, game publishers and brands to create content and market via creators and influencers. Founded and created by industry veterans from Lionsgate, MTV, Disney and Sony, QYOU Media's millennial and Gen Z-focused content reaches more than one billion consumers around the world every month. Experience our work at www.qyoumedia.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE QYOU Media Inc.