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Two months after it launched operations here, US-headquartered YuppTV has announced plans to introduce YuppTV Bazaar, a platform for curated premium video content across various genres such as education, short films, web series and trailers.
“YuppTV Bazaar will give a platform to independent video content creators to monetise and market their content,” YuppTV founder and CEO Uday Reddy told BusinessLine .
The company, which had raised Series A funding for the India market, said it will be closing its second round of funding to the tune of ₹300 crore by the first quarter of 2016. It will use the funds to expand its presence in West Asia and other Asian markets.
The world’s largest provider of over-the-top (OTT) Indian media content had raised series A funding from certain Alabama-based institutions.
OTT refers to the delivery of audio, video and other media over the internet without the involvement of a multiple-system operator controlling/distributing content.
“OTT is the future of the entertainment industry. We are one of the largest content providers and want to leverage our platform for creating additional content,” said Reddy. The service is accessible on multiple internet-enabled devices such as smart TVs, smartphones and tablets. YuppTV has over 25,000 hours of video content in its catalogue. Reddy said Yupp TV, a paid internet-based TV streaming service, was targeted at the Indian diaspora.
“YuppTV Bazaar will give a platform to independent video content creators to monetise and market their content,” he added.
YuppTV globally has 5 million mobile app downloads and an audience base reaching over 400 million households through smart TVs. It has a presence in the US, UK, Canada, Australia, Trinidad and Tabago.
The company has set a revenue target of $20 million for the current fiscal, said Reddy.
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