Hyderabad and Atlanta-based Internet TV provider, YuppTV, is slowly making inroads into the local markets with its mobile and TV app. The company, which is presently providing free subscription of news channels for Indian users, has announced that it will broaden its service here in the next quarter and start charging for subscriptions.
According to company sources, the number of domestic users of this service is increasing. YuppTV, presently provides access to 170 Indian channels live over Internet along with a dedicated movie library and has a subscriber base of one lakh. Keeping in mind the large expat population of South East Asians living across the globe, YuppTV is also planning to provide Pakistani, Bangladeshi and Nepali content.
“We want to expand and provide content of channels from South-East Asia region. In the next quarter, we will be providing live content of about 30 channels of Pakistan, Bangladesh and Nepal. More channels may be added in the near future,” said Uday Reddy, chairman and CEO, YuppTV India private limited.
On Friday, YuppTV announced that Sashi Reddi, founder and managing partner, SRI Capital had invested $2.5 Million (Rs. 16 crore) for a 10 per cent stake in the company. YuppTV is presently valued at $25 Million, or Rs 160 crore, and has significant market in North America, Europe and Australia.
“Internet TV is a fast growing business and YuppTV is very well positioned to become a dominant force in providing Indian content. I believe that YuppTV is the most dynamic media company to emerge out of India,” said Mr. Sashi Reddi.
With an employee size of 140, YuppTV’s revenue in 2013 was reportedly Rs. 70 crore. The company generates 90 per cent of the revenue through subscription while 10 per cent is through advertisements.