Hungama Digital Media Entertainment is betting big on video and original content to transform itself into a full-fledged entertainment platform among young Indians.
Neeraj Roy, founder and CEO of Hungama Digital Media Entertainment, said: “We are heavily invested into all formats of video, from music videos (over 80,000) to movies (over 8,000), TV, and now original programming.”
He said, “A big theme that would play out is video, going into 2016 and 2017.”
Mr. Roy also said the firm wants to cover all aspects of digital entertainment with the most engaging video content for South Asians across the world. The key trigger for the firm’s plan is smartphone penetration and the emergence of 4G.
Last month, Hungama’s service was accessed by 67 million consumers with a quarter of that base transacting with it. The firm had recently raised $25 million, led by Chinese smartphone vendor Xiaomi, along with existing investors Intel Capital, Bessemer Venture Partners, and Indian investor Rakesh Jhunjhunwala. The firm is looking to expand its content library and enhance its technology on its mobile app platforms Hungama Music and Hungama Play for premium videos, including movies, television and original series. The firm plans to add 1,500 hours of television content, including original content offering over 8,000 movies in English and 12 Indian languages.
The key trigger for the firm’s plan is smartphone penetration and the emergence of 4G
