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Creative local content, regional uptake driving short-form video demand: CFO ShareChat

Economic Times

Economic Times · 5m ago

Creative local content, regional uptake driving short-form video demand: CFO ShareChat

India's short-form video market is rapidly expanding, driven by local content demand and regional uptake. ShareChat and Moj's CFO, Manohar Singh Charan, highlights differentiated, regionally relevant services as key to business momentum. The company is nearing EBITDA profitability and plans selective hiring. Backed by Google, they're eyeing more investors ahead of a potential IPO in 24 months. India's growing internet user base and rising per capita incomes are transforming brand strategies towards vernacular platforms and micro-influencers.

Related News

JioCinema to showcase sports content on ShareChat and Moj

Economic Times

Economic Times · 1y ago

JioCinema to showcase sports content on ShareChat and Moj

JioCinema has partnered with Indian social media platform ShareChat and its short-form video app, Moj, to feature sports content including the WPL, IPL, Indian Super League, and the Olympics. The collaboration aims to expand JioCinema's reach among regional content consumers by integrating with social platforms. ShareChat and Moj will contribute a wider audience and enhance regional content presentation across multiple languages. Users will also gain access to unique storytelling and insights from dressing rooms through JioCinema's experts. The curated content will be available on JioCinema handles on both ShareChat and Moj.

ShareChat appoints Gaurav Jain as chief business officer

Economic Times

Economic Times · 1y ago

ShareChat appoints Gaurav Jain as chief business officer

ShareChat has appointed Gaurav Jain as its Chief Business Officer (CBO) to strengthen ties with digital agencies and help marketers leverage the power of short-form videos. Jain, previously the head of emerging business at ShareChat and Moj, aims to drive the growth of the ad business amidst the short-form video boom in India. The parent company of ShareChat, Mohalla Tech, reported a 62% rise in revenue but a 38% increase in losses for FY23. ShareChat is striving to achieve profitability by 2025, focusing on multiple revenue streams including virtual gifting and chat room offerings.

Mukesh Ambani's JioCinema partners with ShareChat and Moj; Here's why

IndianStartupNews

IndianStartupNews · 1y ago

Mukesh Ambani's JioCinema partners with ShareChat and Moj; Here's why

JioCinema, owned by Mukesh Ambani's Jio platform, has formed a partnership with ShareChat and its short-form video app Moj. The collaboration aims to offer a wide range of sports content, including major events like the IPL, Indian Super League, and the Olympics. With ShareChat and Moj's combined user base of over 325 million, JioCinema aims to deliver a more enriched viewing experience by providing multi-lingual commentary and 4K feeds. This partnership is expected to revolutionize the consumption of sports content in India and boost JioCinema's position in the OTT sports market.

ShareChat's valuation drops below $2 billion in new funding

TechCrunch · 1y ago

ShareChat's valuation drops below $2 billion in new funding

Indian social media startup ShareChat has seen its valuation drop to under $2bn from around $5bn in a recent funding round. ShareChat, which operates a social network in a variety of Indian languages and a short-form video app, raised $49m in a convertible round. The company revealed it had received investments from existing backers such as Lightspeed, Temasek and Tencent. Sources said the latest fundraising would result in the conversion of existing debt to equity at a valuation below $2bn. ShareChat has not spent any money on user acquisition in the past year, instead focusing on optimising its content recommendation engine.

For creators, regional apps are the gift that keeps on giving

Economic Times

Economic Times · 1y ago

For creators, regional apps are the gift that keeps on giving

Mid-tier content creators in India are exploring regional and local language platforms like ShareChat (Moj), Rooter, and Eloelo to earn money through virtual gifts. These platforms allow creators to host shows or chat rooms where audiences can participate and send virtual gifts or pay subscription fees. The trend of virtual gifting is gaining popularity due to its simplicity and appeal to Gen-Z users. The market for virtual gifting in Indian short video platforms is expected to reach $1.7 billion by 2030. Creators are earning substantial amounts through virtual gifting and brand collaborations on these platforms.

ShareChat's Moj Struggles in Short Video Market

StartupTalky

StartupTalky · 1y ago

ShareChat's Moj Struggles in Short Video Market

The Indian short video market is currently engaged in a fierce competition between established players like Instagram and YouTube, and the homegrown rival, ShareChat's Moj. Moj initially gained popularity by catering to the demand for localized content with features like regional challenges and language filters. However, Instagram and YouTube have countered with their own short video formats, Reels and Shorts, respectively, leveraging their massive user bases and existing content creation tools. The user base for Reels and Shorts has surpassed Moj, highlighting the challenges faced by the homegrown platform. Moj is now focusing on diversification and regional expansion to regain its momentum, but the road ahead is tough. The outcome of this battle will not only shape the Indian short video market but also have broader implications for the digital landscape in the country.

Shorts may 'cannibalise' YouTube's long-form video biz: report

Economic Times

Economic Times · 1y ago

Shorts may 'cannibalise' YouTube's long-form video biz: report

YouTube's short-video platform, Shorts, may pose a threat to its core, long-form video business, according to veteran YouTube staff. The platform, with over 2 billion logged-in monthly users, could be cannibalizing revenue-generating long-form videos. Staff noted that content creators are increasingly focusing on short-form content due to consumer preferences and brand commissions. YouTube's ad revenue has been declining, and monetizing Shorts remains a challenge. Despite this, YouTube insists that Shorts is designed to complement its other content formats, such as audio and livestreams.

LinkedIn to roll out its video offering in India

Economic Times

Economic Times · 1y ago

LinkedIn to roll out its video offering in India

LinkedIn is launching its video offering in India to tap into the growing short-form video market. LinkedIn has witnessed a 60% increase in video uploads in India compared to 45% globally and aims to leverage video to enhance engagement on the platform. The company believes that video content can facilitate knowledge sharing, career development, and professional coaching. This move comes as video becomes the fastest-growing format on LinkedIn and with a significant portion of India's internet users consuming video content. The Indian short-form video market is projected to reach $8-$12 billion by 2030.

Indian short-form video apps have over 250 million users

Economic Times

Economic Times · 1y ago

Indian short-form video apps have over 250 million users

According to research by Redseer Strategy Consultants, short-form video (SFV) platforms in India have amassed a user base of over 250 million, with a majority of the users coming from tier-II cities and rural areas. These platforms present significant monetization opportunities, as around 40% of users engage in online transactions. The popularity of SFV platforms in India can be attributed to the availability of regional-language content produced by local talent. The rise of user-generated influencer content has also contributed to the growth of SFV platforms, with over 3.5 million influencers earning through advertising and live commerce. Brands are increasingly collaborating with SFV platforms to tap into larger audiences.

Facebook launches a Gen Z-focused redesign

TechCrunch · 10m ago

Facebook launches a Gen Z-focused redesign

Focus on Younger Users: Facebook aims to attract Gen Z with a redesign that emphasizes community and entertainment features. New "Local" Tab: A dedicated section for local content, including activities, groups, and Marketplace items, to enhance community engagement. Enhanced "Explore" Tab: Personalized recommendations for content based on user interests, similar to platforms like Pinterest and TikTok. Upgraded Video Experience: Full-screen video player to showcase short-form and live videos, catering to younger users' preferences. AI Features for Groups and Dating: New AI tools to help users find answers in groups and a "Matchmaker" feature in Dating for friend-assisted swiping.

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