QYOU Media India, in a bid to enhance its presence in the Connected TV (CTV) arena, has partnered with Bollywood Hungama to introduce a new CTV channel set to debut in Q4 of 2023.
This channel, named BH Live TV Powered by QYOU Media, will become a part of QYOU Media India’s fast-growing multi-genre content library, offering Bollywood enthusiasts a platform to access all the latest news and gossip related to the Indian entertainment industry.
BH Live TV Powered by QYOU Media will be exclusively available on the Q Play+ app and various leading CTV platforms, including Samsung TV Plus, Amazon Fire TV, Xiaomi, TCL, One Plus, and other CTV brands.
This strategic move strengthens QYOU Media India’s presence in the emerging Free Ad Supported TV (FAST) channel ecosystem, reaffirming its commitment to delivering high-quality and engaging content to its diverse and expanding audience base, the company said in a media statement.
The driving force behind this partnership is the remarkable growth of the global CTV (Smart TV) industry, which is also making significant inroads in India. The Indian CTV market has tripled in size in the last 18 months, with an estimated 60 million households expected to use CTV by 2025.
Although CTV advertising spending is still in its early stages in India, globally, the CTV industry is projected to generate $25.9 billion in ad revenue in 2023, according to Group M’s midyear forecast.
The CTV industry is set to dominate television viewership and ad revenue growth, particularly with the integration of AI-driven recommendation engines, Automatic Content Recognition (ACR), and data-driven TV performance on CTV platforms. In the past year, over 90 percent of televisions sold in India were Smart TVs.
Krishna Menon, COO of QYOU Media India, highlighted the importance of innovation in the FAST category and the aim to provide diverse content to their audiences through this collaboration.
Siddhartha Roy, CEO of Hungama Digital Entertainment, emphasized the need for innovation in the FAST category and the goal to curate channels that cater to diverse viewer interests.
With this latest addition, QYOU Media India solidifies its position as a leading player in the Connected TV space, offering viewers a wide range of premium content across various genres.”