HOOQ starts phasing out regional and Hindi content with a monthly plan of Rs 89
Singapore-based video-on-demand streaming service HOOQ is doubling its India investments. The service has changed its strategy to focus on Hollywood and English premium video content to take on Netflix and Amazon prime, and drive growth in India’s highly competitive over-the-top (OTT) video market.
Zulfiqar Khan, MD at HOOQ India told that they are doubling up their investments in content, manpower and technology for India. As per interaction with ET, HOOQ has narrowed its focus on Hollywood and English premium content. It has started phasing out regional and Hindi content. Well, the change in strategy will make the service provider look for more partnerships with stakeholders.
HOOQ can prove to be a sweet spot for customers
Khan also commented that HOOQ will continue its Rs 89 monthly plan and can prove to be a sweet spot for customers. Its competitors like Netflix charges Rs 500 a month for its starting plan, Hotstar charges Rs 199 per month and Amazon Prime is available for Rs 129 per month. He told that the Indian OTT content market is cluttered which poses a challenge but also offers scope to grow with differentiated content.
According to PwC, India is expected to be among the top ten OTT video markets in the world in four years and is growing at a Compound annual growth rate (CAGR) of 23 per cent. Khan also commented that the biggest challenge was how to get a customer to pay but fortunately some have started to pay. The focus is also to provide customers with an easier way to pay by working with telecom and financial partners.
