~ The FAST Channel to offer viewers with the best of Bollywood movies and music ~
~ India’s 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, A part of Hungama Digital Entertainment Pvt. Ltd., is the world’s leading portal for Bollywood news, celebrity updates, and movie reviews with Over 70M Users ~
17th October 2023; Mumbai, India: Having recognized the importance of offering diverse and engaging content to its viewers, QYOU Media India, in an endeavor to further strengthen its presence in the Connected TV space, announces that it has entered a partnership with Bollywood Hungama to launch a new Connected TV channel in Q4 of 2023 called BH Live TV Powered by QYOU Media. The new channel marks the addition of Bollywood content to QYOU Media India’s multi-genre FAST channels content library. Combining the power of both companies in the world of social media with the long-standing status of Bollywood Hungama as the world’s most widely visited Bollywood portal, the channel will feature all news and gossip surrounding the world of Bollywood and the Indian entertainment business.
BH Live TV Powered by QYOU Media 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.
The driving impetus for the partnership 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 TVs.
Speaking on the launch of BH Live TV Powered by QYOU Media,Krishna Menon, COO, QYOU Media India said, “In an era where Connected TV is becoming an integral part of entertainment, we at QYOU Media India, continue to recognize the importance of innovation in the FAST category. We aim to curate channels that cater to the varied interests of our audiences, and the collaboration with Bollywood Hungama is a fantastic addition to our portfolio. With this new channel, we aim to further solidify our position in the CTV space and continue providing unparalleled entertainment experiences.”
Siddhartha Roy, CEO, Hungama Digital Entertainment, remarked on the partnership, “This partnership of Bollywood Hungama and QYOU Media is poised to introduce an exciting new dimension of entertainment for viewers. In today’s landscape, where Connected TV is a vital part of the experience, we recognize the need for innovation in the FAST category. Our goal is to curate channels that cater to our viewers’ diverse interests, and this collaboration is a significant addition to our content offerings. We look forward to strengthening our presence in this arena and providing our audience with exceptional content tailored to their preferences.”
With this latest addition, QYOU Media India strengthens its position as a leading player in the Connected TV space, offering viewers a diverse range of premium content across multiple genres.