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Tag: media & entertainment

  • YouTube Success Story – Founders, Funding, Business Model, Growth, Funding and More

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by YouTube.

    What if you want to cook mutton biryani for your loved one but do not know the recipe for the delicious dish? Maybe you want some information about a faraway place that you want to visit this vacation. What if you are bored and want some sort of entertainment? Do not worry, YouTube is here to help you gain information, learn skills and stay entertained 24×7.

    Does YouTube even need an introduction? Most of us love binge-watching videos on YouTube, and turning to YouTube for various reasons has almost become a habit.

    Read all about YouTube, its Founders, Latest News, Funding and Investors, Business Model, Revenue Model, Growth, Acquisitions, Future Plans, and more.

    YouTube – Company Highlights

    Startup Name YouTube
    Headquarters San Bruno, California, United States
    Sector Internet, Music, Video Marketing
    Founders Chad Hurley, Steve Chen and Jawed Karim
    Founded February 1, 2005
    Total Funding $83.5 million (2021)
    Revenue 2,880 crores USD (2021)
    Website Youtube.com

    Youtube – Latest News

    January 20, 2022 – Youtube reveals new Youtube premium annual plans for the Indians. The Youtube Premium plans, which were earlier offered on a monthly and quarterly basis, can now be obtained at Rs 1,159 and Rs 889 for a year of subscription of Youtube Premium and Youtube Music Premium services respectively.    

    January 18, 2022 – Youtube officially gives up on its Youtube Originals, declared the Google-owned video streaming giant in the form of an official statement. It would be winding its six years old wing of exclusive high-budget content, said Robert Kyncl, CBO of Youtube.

    YouTube – About
    YouTube – Founders and Team
    YouTube – Startup Story
    YouTube – Mission and Vision
    YouTube – Tagline, Slogan and Logo
    YouTube – Business Model and Revenue Model
    YouTube – Funding and Investors
    YouTube – Acquisitions
    YouTube – Growth
    YouTube – Online and Social Media Presence
    YouTube – Competitors
    YouTube – Future Plans

    YouTube – About

    Launched in 2005, YouTube is the largest video hosting platform and the second largest search engine after Google. As per May 2019 data, more than 500 hours of content are uploaded on YouTube every minute.

    Whether you want to learn coding or cooking, you are interested in gardening or travelling, YouTube has content for everyone. YouTube is not just about entertainment. As published by Hootsuite in 2021, globally 82% of people use YouTube for learning various skills.

    Can’t stop binge-watching videos on YouTube? You are not alone. YouTube has more than one billion monthly users, who watch more than one billion hours of video every day.

    YouTube’s Services include:

    YouTube Community

    This feature allows YouTube content creators to interact with their subscribers.  The feature is unlocked once a user crosses 1000 subscribers. Using this feature content creators can post images, videos, texts, gifs, etc to let their subscribers know about their upcoming content, behind the scene stuff, and more.

    YouTube Kids

    This app is exclusively developed for children. Users can choose the age of the children for whom the app is downloaded, and then the children can view age-appropriate content only. YouTube Kids TV app is also available for some selected TVs. On August 30, 2019,  a web version of YouTube Kids was launched.

    YouTube Movies

    It is a movie buying and rental service by YouTube. While some movies are available to watch for free, others need to be purchased or rented.

    YouTube Music

    It is a music streaming service like Spotify. YouTube Music is available on the web and also comes as an app. You Can listen to music for free or opt for the premium option for an ad-free experience.

    YouTube Premium

    YouTube Premium is the ad-free version of YouTube. First introduced in 2015, in the month of October, Youtube Premium was earlier called “Youtube Red”. YouTube premium comes with certain benefits that differentiate it from free YouTube.

    1. YouTube Premium gives you an ad-free experience. Hence no interruptions while watching your favourite videos.
    2. You can download videos and playlists, which you can watch when you are offline. Free Youtube does not allow us to download videos. However, even in YouTube Premium, the download option is available only on mobile devices and not on computer and laptop devices.
    3. Background play option available in YouTube Premium, keeps the YouTube video playing, even when you are working on another app on your mobile, or when your mobile screen is off. In free YouTube, however, when we open another app, on your mobile, YouTube stops playing, and also YouTube stops playing when the screen is off.
    4. With YouTube Premium, one also gets access to YouTube Music Premium. With YouTube Music Premium, one can enjoy ad-free music, and download songs, and videos. One can also keep playing music in the background, while he is using another app, and turn on audio-only mode to listen to just the song without loading the video.
    5. One also gets access to YouTube Original series and movies with YouTube Premium.

    YouTube Stories

    Initially called YouTube reels, was launched in 2018. YouTube content creators having 10000+ subscribers get access to this feature. YouTube stories can be seen only on the YouTube mobile app.

    YouTube Shorts

    It is similar to Tik-Tok, which lets users create short 15 seconds videos. One can create YouTube shorts in the YouTube Mobile app, where all the tools required to create shorts are available. Launched in September 2020, this feature has received much popularity. In March 2021 only, YouTube Shorts generated  6.5 billion daily views.

    TestTube

    YouTube lets its Premium members try experimental features and give feedback on them. YouTube Premium members can visit www.youtube.com/new, where various experimental features are available. Users can choose to try out any of these features.

    YouTube TV

    It is a TV streaming service available for customers in the United States. YouTube TV subscribers get access to live sports and shows from 85+ broadcast, cable, and regional sports networks and unlimited DVR (Digital Video Recording) Space. YouTube TV can be accessed from all devices like TV, Mobile, Desktop, Laptop, etc. One can also view YouTube Originals series and YouTube’s trending videos on YouTube TV.

    YouTube Go

    In April 2017, YouTube introduced YouTube Go. YouTube Go is the lighter version of YouTube that runs on a slow internet connection. YouTube Go was designed to let users download the videos and even share the videos with nearby users without any internet connection. The app however is currently unavailable for download on Google Play Store.

    YouTube Originals

    It was started by Susanne Daniels, Youtube Global Head of Original Content in 2016, which focused on creating high-budget exclusive content for its present viewers and attracting more subscribers from around the globe. This initiative was started with the goal of keeping up the competition with the other OTT platforms like Netflix, Amazon Prime, and others. However, Youtube Originals failed to deliver what was expected of it and after little more than 6 years of operation, it is now winding, as per the official statement from Robert Kyncl, the Chief Business Officer at YouTube on January 18, 2022.

    The news is also ripe that Daniels will leave the company in March. Kyncl further declared that YouTube will now only fund programs that are part of its Black Voices and YouTube Kids funds.

    On 20 July 2021, YouTube announced its new feature, Super Thanks. Super Thanks allows viewers to pay money to their favourite creators on YouTube. Once you pay, your comment in the comments section will be highlighted.

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    YouTube – Founders and Team

    Jawed Karim, Chad Hurley, and Steve Chen founded YouTube on 14 February 2005. All of the three Youtube founders are ex-PayPal employees.

    Jawed Karim

    Javed Karim
    Javed Karim

    Software engineer and entrepreneur Jawed Karim is of Bangladeshi-German descent. He spent the early years of his life in Germany but later shifted to the USA due to the growing xenophobia that he and his family had to face in Germany.

    Jawed holds a Master’s degree in Computer Science. Jawed joined PayPal, while he was still doing his bachelor’s degree in Computer Science from the University of Illinois at Urbana-Champaign.

    At PayPal, Jawed met Chad Hurley and Steve Chan, and in 2005 the trio came up with YouTube. However, when YouTube was launched in February 2005, Jawed decided not to stay at YouTube like an employee but continued to stay as an informal adviser to YouTube. Thus, Jawed held a lower share in the company.

    Jawed later co-founded a Venture fund named Youniversity Ventures (also known as YVentures) in 2008. Jawed Karim is the first person to create a YouTube Channel. His channel is called ‘jawed’. Also, Jawed uploaded the first-ever video on YouTube on 23rd April 2005.

    Chad Hurley

    Chad Hurley
    Chad Hurley

    Chad Hurley is an American webmaster and a businessman. Chad served as the first CEO of YouTube and continued as the CEO till 2010 when Google’s Salar Kamangar took over as the CEO. Chad holds a B.A. degree in Fine Arts from the Indiana University of Pennsylvania.

    In 2011, Chad left YouTube and started AVOS systems, a technology company that helped developers create apps. In 2014, AVOS systems pivoted to become ‘Mixbit’, a mobile video platform. Mixbit ceased operations in August 2018.

    Chad is now an investor and is operating as the Co-founder and Chairman of GreenPark Sports, a company that makes mobile games. As reported by Business Insider, Hurley is also part owner of Golden State Warriors and Los Angeles Football Club.

    Steve Chen

    Steve Chen
    Steve Chen 

    Steve Chen is a Taiwanese-American entrepreneur. Chen is a Computer Science Graduate from the University of Illinois at Urbana-Champaign. Before starting YouTube, Chen worked with companies like eBay, where he worked as an Engineering Manager at PayPal, where he worked as a Software Engineer. Chen also joined Facebook for a brief period after which he left the company in order to start Youtube.

    Chen continued to work at YouTube even after the acquisition of YouTube by Google in 2006. He left YouTube in 2009 and worked on other divisions of Google. Chen finally left Google in 2011, and along with Chad Hurley, started AVOS systems in 2013. Chen later left AVOS systems and joined Google Ventures in 2014. Currently, Chen is an Angel Investor.

    YouTube – Startup Story

    Jawed Karim, Chad Hurley, and Steve Chen, three PayPal employees created a video uploading platform. The story of Youtube started with the initial concept of building an online dating platform but unfortunately, the idea failed, but this had an exceptional video uploading space.

    As YouTube co-founder Steve Chen said in 2016, when they began in 2005, YouTube was built to be a platform where people could upload videos about dating or their desirable partner. In line with the idea, the co-founders even came up with the tagline ‘Tune in, Hook up‘. But, people did not seem to take much interest in uploading dating-related videos.

    As revealed by the co-founders, they were even offering women $20 to upload dating videos, but the idea did not work. Finally, the co-founders decided to open the platform for not just dating, but all kinds of Videos. Jawed started by uploading the famous ‘Me at the Zoo’ Video on 23rd April 2005, and from there was no looking back!.

    In 2006, the YouTube cofounders sold YouTube to Google for $1.65 billion. The platform today has over 2 billion monthly active users.

    Besides the dating site story, several other stories of Youtube are also heard about the inception of YouTube. According to some reports, the YouTube idea came to co-founders Steve and Chad when they were unable to share the video of a dinner party held at Chen’s place in San Francisco.

    According to co-founder Jawed Karim, the idea of forming a Video Sharing platform came when he was unable to find the clips of the ‘Super Bowl XXXVIII halftime show’ controversy and 2004 Indian Ocean Tsunami on the Internet.

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    YouTube – Mission and Vision

    YouTube’s mission is to give everyone a chance to express his thoughts, feelings, talent, issues, and more to the whole world. YouTube’s mission statement is “To give everyone a voice and show them the world.”

    YouTube’s tagline is ‘Broadcast yourself‘.

    YouTube Logo
    YouTube Logo

    YouTube – Business Model and Revenue Model

    Most of the content on YouTube is free. A major source of Revenue for YouTube is advertisements. YouTube allows advertisers to show targeted ads to its users. A part of YouTube’s revenue also comes from the subscription fee paid by the YouTube Premium users.

    Subscription fees earned from other services like YouTube TV, YouTube Music Premium are other important sources of revenue for the company. Besides, when a user pays his favourite content creator through features like ‘Super Thanks’, a commission is charged by YouTube.

    YouTube – Funding and Investors

    YouTube has raised a total amount of $83.5 million in funding over two funding rounds.

    Date Transaction Name Money Raised Lead Investors
    March 30, 2006 Series B $80 million Artis Ventures and Sequoia Capital
    November 1, 2005 Series A $3.5 million Sequoia Capital

    YouTube – Acquisitions

    To date, YouTube has acquired five organizations.

    Date Acquired Organization
    July 20, 2021 simsim
    May 1, 2016 Subarctic Limited
    February 12, 2016 Bandpage
    December 18, 2014 Vidmaker
    May 7, 2011 Next New Networks

    YouTube – Growth

    YouTube has generated an amount of $19.7 billion in revenue in 2020. In the 2nd quarter of 2021, YouTube’s revenue nearly doubled to reach $7 billion. Till the 2nd quarter of 2021, there is an increase of 84% in YouTube’s overall revenue, as compared to the last year.

    Some of the prominent growth statistics of Youtube are:

    • Youtube is the most popular video streaming platform.
    • It is hailed as the second most visited website, right after Google its parent.
    • Youtube claims to have more than a billion monthly users.
    • Youtube is collectively watched for more than 1 billion hours each day.
    • The videos are uploaded on Youtube at a rate of more than 500 hours of content per minute when last reported in 2019.

    YouTube – Online and Social Media Presence

    YouTube is actively present on Facebook, Twitter, Instagram, Pinterest, Crunchbase, etc. In order to know more about this video-sharing company, you can check its profile present at various above-mentioned websites.

    YouTube – Competitors

    The top competitors of YouTube are Netflix, Hulu, and Vimeo.

    Netflix

    It is the biggest competitor of YouTube. Netflix is headquartered in Los Angeles, CA, USA, and was founded in 1997.

    Hulu

    It is perceived as one of the top competitors of YouTube. Hulu is headquartered in Santa Monica, CA, USA, and was founded in 2007.

    Vimeo

    It is also one of the biggest competitors of YouTube. Vimeo is headquartered in New York, NY, USA, and was founded in 2004.

    YouTube – Future Plans

    As mentioned by the current YouTube CEO Susan Wojcicki in YouTube’s official blog, YouTube’s priorities for 2021 include growing the creator economy, helping people learn new skills, and building for the future of YouTube. The CEO also puts stress on working in collaboration with Governments around the world, in accordance with the regulatory policies of different countries.

    YouTube is also planning to come up with shopping options on the YouTube platform. The feature is already being tested now, and we can expect to shop via YouTube soon!

    FAQ

    Who is the founder of YouTube?

    Jawed Karim, Chad Hurley, and Steve Chen founded YouTube on 14 February.

    What company did the founders of YouTube work for before starting up YouTube?

    The three founders worked at Paypal before founding youtube in 2005.

    Who is YouTube’s biggest competitor?

    Twitch, IGTV, and TikTok are some of the biggest competitors of YouTube.

  • Zee5 Partnership with TVF: Changing The OTT Landscape

    Punit Goenka, MD, and CEO of Zee Entertainment Enterprises Ltd (ZEEL) are in charge of growing the company’s foreign footprint to 173 countries and 1.3 billion viewers. His foresight and expertise in the field of new media have propelled the organization to worldwide prominence today.

    Punit Goenka examines the media conglomerate’s progress in FY2019, the development of digital video viewership, ZEE5’s good performance, and much more in his address to ZEEL’s shareholders.

    The following is a copy of his address:

    “FY19 was another year of outstanding overall performance. In a short period, ZEE5 had amazing growth, and our Domestic Broadcast company solidified its leading position. The film and music industries have grown in size thanks to the solid foundation they’ve laid. International and live enterprises have taken steps to prepare for a new growth phase. The company’s operating success resulted in a positive financial outcome. We’ve had phenomenal growth over the previous few years, but we’re aware of the changes taking place around us and the opportunities they bring. We’re putting in the work to stay on track and flourish in this changing environment.”

    ZEE5- Evolution and Growing Stage
    ZEE5- Building New Competencies to Maintain Growth
    ZEE5- Adapting in New Digital World
    ZEE5- Emerging as Fastest Growing OTT
    Conclusion
    FAQs

    ZEE5- Evolution and Growing Stage

    By continually increasing its content offering, ZEEL has evolved from a single-channel network to a multi-faceted entertainment content firm. Until recently, television was the primary means of disseminating fresh content to the general public. Our growing industries, such as digital, movies and music, and live events, present us with new touchpoints for reaching consumers as well as access to previously untapped audiences. This has given content consumption new dimensions, allowing us to experiment with new genres of material and build formats tailored to smaller audiences.

    To take advantage of this new potential, we have dramatically increased our content efforts. The distribution landscape is developing in tandem with the increasing content repertoire, as audiences consume information across different devices and platforms. We’re forming collaborations with new-age content distributors, gadget manufacturers, and other digital actors to expand the reach and engagement of our goods.

    ZEE5 Partners with TVF

    ZEE5- Building New Competencies to Maintain Growth

    In this changing environment, we must adapt our procedures and build new competencies to maintain growth and capitalize on new opportunities. Changes in the television distribution landscape, as well as an increase in the share of direct to consumer firms, particularly digital, provide us more insight into customer favorites. While consumers have always been at the centre of content development, these insights will help us provide better service to them. To harness consumer insights for content production and product design, we’re investing in data and analytics capabilities.

    Even conventional tasks like marketing and customer service are changing dramatically, and we are preparing our workers to succeed in this new environment.

    ZEE5- Adapting in New Digital World

    As the internet’s reach expands and consumers spend more time-consuming information, digital video viewership continues to soar. User-generated and TV content, which is funded through advertising, have been the main drivers of development thus far. I believe that the material created by digital platforms will fuel the next phase of growth. The subjects, talent ensembles, and production value of these series set them apart and have piqued the interest of a group of viewers who previously found TV shows to be too slow. Digital platforms will be able to drive subscription models as they scale up their production of original content. Younger audiences, mainly from urban regions, were among the first to adopt SVOD, and digital material reflects their preferences. As more people pay for content, the number of options available will grow to meet the needs of a wide range of users. Bundling of SVOD with telecom and other services, tiered pricing, and payment innovation would be crucial to growing the paid subscriber base in a market with low ARPU and resistance to online payments. Though advertising is presently the primary source of digital money, I believe subscription will become a long-term revenue generator.

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    ZEE5- Emerging as Fastest Growing OTT

    ZEE5- Fastest growing OTT
    ZEE5- Fastest growing OTT

    In a saturated Indian industry, It is thrilling to see ZEE5 emerge as one of the fastest-growing OTT platforms, with 61 million monthly users within a year of introduction. The strength of ZEE5’s content inventory has been the key driver of its growth. The website, which is powered by India’s largest television network, is used by millions of people to catch up on their favourite web series and movies. ZEE5 is committed to investing in content to establish SVOD leadership, and it has already established itself as India’s largest producer of digital content with over 60 original episodes and movies. Consumers have an additional reason to visit ZEE5, regularly thanks to our growing library of commercial and specialized films in 12 languages. ZEE5 has established itself as the go-to entertainment destination thanks to a vast and differentiated content collection. The significant connections that ZEE5 has with significant participants in the digital ecosystem will help it improve its position even more.

    In India, television is the primary source of entertainment and continues to expand in terms of reach and engagement. Although 50 million families have purchased a television set in the last four years, a third of Indians (100 million households) have not, providing an expanded runway for growth. Constantly improving material selections and quality across languages has resulted in an increase in time spent. The new tariff regulation has increased the value proposition of television for customers by allowing them to choose and pay for the programming they want. It also permits broadcasters to set their prices for their material, which encourages innovation. The significant shift in content distribution dynamics posed several difficulties, making the transition to the new regime unequal. However, once the change is complete, all stakeholders will benefit.

    The digitization of the distribution space resulted in proper accounting of the subscriber base, and this tariff order ensures that revenue is distributed fairly across the value chain. This increase in transparency will hasten the growth of India’s subscription business.

    Conclusion

    ZEE5- TVF Shows

    Pitchers Season 2, Tripling Season 3, Humorously Yours Season 3, and other popular titles like Engineering Girls Season 2, The Aam Aadmi Family Season 4 are among ZEE5’s exciting and exclusive news seasons of hugely popular and critically renowned TVF shows. ZEE5 will add 13 fascinating TVF series to its AVOD platform, adding to the platform’s bouquet of content offers of authentic, relevant, and poignant stories. In addition to the current seasons of the mentioned shows, classics such as Permanent Roommates, Tech Conversations with Dad, Awkward Conversations, PA-Gals, Inmates, Weekends, The Insiders, and Zeroes will be available to anyone.

    FAQs

    Which TVF shows will stream over ZEE5?

    • Permanent Roommates
    • Tech Conversations with Dad
    • Awkward Conversations
    • Pitchers Season 2
    • Tripling Season 3
    • Humorously Yours Season 3
    • Engineering Girls Season 2
    • The Aam Aadmi Family Season 4
    • PA-Gals
    • Inmates
    • Weekends
    • The Insiders
    • Zeroes

    Who is Punit Goenka?

    Punit Goenka is the CEO and MD of Zee Entertainment Enterprises Limited (ZEEL).

    Who is the founder of TVF?

    Arunabh Kumar is the founder of TVF (The Viral Fever).

  • What is AMC Entertainment and Why its Stock Price Surged 2900% this Year?

    AMC Entertainment Holdings is an American-based movie theatre chain, and is the largest movie theatre chain in the world. The company was founded in the year 1920, with its headquarters located in Leawood, Kansas. It has faced a lot of financial downturns due to the recent Covid-19 crisis. Let’s look at how AMC Entertainment has seen a surge in its share price of around 2,900% in this year.

    AMC Entertainment – Latest News
    Share price of AMC Entertainment
    Reason for the Extreme Rise in Share price of AMC Entertainmnet
    AMC Entertainment Warning to its Investors
    FAQ

    AMC Entertainment – Latest News

    The AMC Entertainment had seen a recent surge in its share price, which touched an all-time high on 2nd June 2021. The stock is considered to be a meme stock as the increase in the stock price was driven because of the hype over the social media channels.

    The hot rally on the stock price is believed to be driven by the retail investors of Reddit. However, it is considered that one of the minor reasons for the surge in the share price is because certain investors are optimistic about the theatre chain as the Covid cases have come under control and the crowd would venture back into the theatres.

    Share price of AMC Entertainment

    The stock had seen a surge of around 120% on 2 June 2021, which hit the all-time high of USD 70 and fell slightly. The stock provided a return of around 90% in one session. The next day the rally was interrupted due to the company itself.

    On 3 June 2021, the company had sold around 11 million shares and raised more than USD 500 million, where the investors did not stay with the company’s decision. The share had seen a fall on that particular day of around 18 % and closed at USD 51.34.

    The company was under a potential bankruptcy in the year 2020 and now has seen a surge in its stock price of more than 3000% for the year 2021. In this quarter alone the stock price of AMC has provided a return of 500% and 140%, as seen in the first week of June 2021. The market capitalization of the company has increased to more than USD 32 billion.

    Share price of AMC Entertainment
    Share price of AMC Entertainment

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    Reason for the Extreme Rise in Share price of AMC Entertainment

    Most of the analysts have agreed that the stock price of AMC has seen a surge not because of the fundamentals but because of the hype created on the social media platforms. They have conveyed that the surge in the price of stocks can be seen as long as it gets attention.

    It is said that the retail investors on Reddit had joined back together in order to hurt the professional short sellers that were betting against the AMC stock. At the same time, AMC had announced that they would provide free popcorns to their new investors who had backed them when they visit AMC for watching a movie.

    AMC Entertainment Warning to its Investors

    The company’s stock price had been trading at 20% up and saw a fall of 18% soon after they announced the sale of 11 million stocks. The sale of 11 million stocks has further helped the company in increasing its share price to USD 584 million as capital.

    AMC has also recognized the strangeness of the situation which was claimed by the experts. As a result, the company had issued an unusual warning to its shareholders. The company warned its shareholders against investing in its Class A common stock. It has conveyed that if the shareholders were ready to incur the risk of losing the entire amount invested in the shares or a partial amount, they could continue to stay invested.

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    Conclusion

    The share of AMC has received a lot of attention from the Indian investors as well as those from South Africa. The largest theatre chain was one of the five most traded stocks on the American stock exchange on Vested Finance and Stockal. These are two Indian focused trading platforms, and AMC was much more popular than Tesla, Facebook and Shopify.

    FAQ

    What is the biggest movie theater company?

    AMC Entertainment is one of the biggest movie theater company with 959 around the world.

    Who are AMC Theaters’ competitors?

    Regal, Cinemark, and Cineplex are some of the top competitors of AMC Entertainment.

    What is the Revenue of AMC Entertainment?

    The Revenue of AMC theatre in 2020 was 1200 million US dollars.

  • How will Amazon leverage MGM Studios after the Acquisition?

    Amazon which is a multinational tech giant has been competing against the OTT platforms such as Netflix, HBO studios and Disney+Hotstar with their Amazon Prime App. The OTT platform of Amazon Prime has announced its recent acquisition of MGM studios. Let’s look at the deal and how it is going to help Amazon in the OTT field.

    Amazon MGM Acquisition – Latest News
    Amazon’s Future Plan with MGM Studios
    The main ideology behind the Acquisition of MGM and Amazon
    FAQ

    Amazon MGM Acquisition – Latest News

    Amazon has finally acquired the legendary MGM studios which is a significantly legendary media company. The deal is said to be around USD 8.45 billion. This is considered to be one of the boldest moves in the entertainment industry.

    The deal will help Amazon Prime to take a forward step in the streamlined business and is the second largest acquisition in the history of Amazon.

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    Amazon’s Future Plan with MGM Studios

    Mike Hopkins who is the senior vice president of Amazon Prime Video has conveyed that the real financial value of the acquisition is the collection of the treasure in the deep catalog which they are planning to reimagine and develop together with the talented team of MGM.

    He also added that they are very excited and are looking forward to working with the talented team for high quality story telling. The company is planning to leverage the legendary catalog of 4,000 films and 17,000 shows which will strengthen the platform of Amazon.

    Kevin Ulrich, the chairman of MGM has conveyed that the combination to align the opportunity of the history of MGM with Amazon is inspiring. But above all Amazon needs more content for Amazon Prime video to stay relevant against the competition.

    Buying MGM will provide Amazon Prime video with the access to favorites such as James Bond, Real Housewives and Survivors. It also will improve Amazon Prime’s odds in creating their own originals with a fully fledged studio that has created legendary shows and movies.

    Revenue of MGM Holdings worldwide
    Revenue of MGM Holdings worldwide

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    The main Ideology behind the Acquisition of MGM and Amazon

    The main idea behind the acquisition of MGM is considered not to be the legendary movies or shows or not just to create original shows but to increase the number of subscribers for the OTT platform of Amazon.

    Amazon earlier had a stronghold by offering shipping discounts to prime members and attracting more consumers but right now a lot of firms have been offering shipping discounts for its consumers. At the same time, we can’t predict what Amazon would do with MGM’s content and it remains unexpected.

    FAQ

    Who is the founder of MGM Studios?

    Louis B. Mayer and Marcus Loew are the founders of MGM studios who founded it on 17 April 1924.

    When was MGM founded?

    MGM studios was founded on 17 April 1924 and It is around 97 years old.

    Has Amazon bought MGM?

    Yes, Amazon has acquired MGM studios for 8.5 billion dollars to compete against other OTT platforms.

    Conclusion

    The deal proves the willingness of Amazon to spend more in order to remain competitive in the streaming industry. It is to be noted that the competitors are spending heavily on developing the libraries and producing original content committing billions. This will be a step for Amazon to emerge as a much stronger brand in the streaming market.

  • TrueFan – Win Quizzes & Connect with your Favorite Celebrity

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the TrueFan.

    The celebrity-fan engagement industry in India is on a very nascent stage and the existent Connection between Fans and Celebrities is just unbelievable! With TrueFan platform, the team aims to fulfill the dreams of millions of fans in India and provide them with the most meaningful celebrity engagement experiences with their favorite celebrities.

    Nimish Goelm, Nevaid Aggarwal and Devender Bindalack founded TrueFan, when they realized the lack of personal accessibility by fans to their favorite celebrities. In an urge to bridge this gap, TrueFan was born!

    StartupTalky interviewed Nimish Goelm (Co-founder & CEO, TrueFan) to know the Success Story of TrueFan and also get a glance on TrueFan’s business model, how it started, growth, founders, revenue model, funding & more…

    TrueFan – Company Highlights

    Startup Name TrueFan
    Founders Nimish Goelm (CEO), Nevaid Aggarwal, Devender Bindal
    Founding Year 2020
    Headquarters New Delhi
    Sector Media and Entertainment, Gaming
    Total Funding $4.3 Million (Seed)
    Website truefan.in

    Lets go through the Journey of TrueFan –

    TrueFan – About
    TrueFan – Market/Industry Details
    TrueFan – Founders and Team
    TrueFan – Startup Idea
    TrueFan – Product/Service and USP
    TrueFan – Name and Logo
    TrueFan – Business Model and Revenue Model
    TrueFan – Startup Launch
    TrueFan – Startup Challenges
    TrueFan – Growth
    TrueFan – Funding and Investors
    TrueFan – Competitors
    TrueFan – Future Plans
    TrueFan – FAQs

    TrueFan – About

    TrueFan is a platform that aspires to connect fans to their favorite celebrities in the most personal and meaningful ways.

    It caters to the everyday Indian audience who’ve grown up enacting dialogues from Bollywood movies, copied hairdos of their beloved ‘heroes’ & ‘heroines’ or turned into bathroom-singers with their favorite love songs. TrueFan allows these very ‘true fans’ to interact with their dream stars at a price that does not hit the pocket.

    “What the platform aims is to celebrate the true spirit of Indian Fandom and provide fans access to A list celebrities like never before” Says TrueFan Team

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    TrueFan – Market/Industry Details

    There are around 300 million Indians, who head to the cinemas to watch movies, coupled with a large audience base for tv shows and sports, especially cricket. Taking this into consideration, the market size is as large as it can be. While the country preaches its utmost devotion towards stars, the access to them is either via social media/ through interviews/paparazzi shoots. The celebrity-fan engagement industry in India is on a very nascent stage. With social media, the interaction fans have with celebrities is usually a one-way street and passive where a fan is probably dropping hundreds of comments but all of these mostly go unnoticed.

    While COVID- 19 has posed restrictions, the demand for celebrity fan engagement platforms has increased. Fans want access to their beloved stars and these platforms cater to that need. The coming years will see exponential growth for this industry which is currently very nascent in India. While many other platforms exist, influential celebrity connect platforms try to provide a meaningful and personalized experience to the users

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    TrueFan – Founders and Team

    Nevaid Aggarwal, Devender Bindal and Nimish Goelm (CEO) are the founders of TrueFan

    TrueFan has a 40 member team in total and is growing across the two offices in India.

    TrueFan founder and CEO
    Nimish Goelm – founder & CEO, TrueFan

    TrueFan – Startup Idea

    India is a country that worships celebrities, the connection seems quite distant but in a way is very personal. The TrueFan founders realized that this issue of devotion towards the superstars and the lack of personal accessibility to them needed to be bridged. Here’s when TrueFan came into being.

    With this platform, the team aims to fulfill the dreams of millions of fans in India and provide them with the most meaningful engagement experiences with their favorite celebrities.

    “I have been a fanboy all my life. It was an almost surreal experience of gate-crashing a wedding to meet my idol, Virat Kohli that put me in the shoes of millions of Indian fans out there” Says Nimish Goelm (founder & CEO, TrueFan)

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    TrueFan – Product/Service and USP

    The TrueFan platform is simple and easy to use. All that the user has to do is

    • Answer a series of fun questions around the life of their favorite celebrity/s
    • The winner, or in this case, the ‘TrueFan’, stands a chance to win a personalized video message from his/her favorite star.
    • While all the other fans get assured cashbacks. Thus, the platform operates on an easy win-win module that has something for everyone.
    TrueFan App
    TrueFan Application

    TrueFan USP –

    While there are many existing players in the market, TrueFan platform is completely different from them. It has focused on partnering with only leading celebrities (A listers exclusively). TrueFan’s business is based on gamification and fun. Where it encourages fans to play simple quizzes to win video messages versus making them a one-off transactional purchase.

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    “Our name is our philosophy. It’s simple and easy to understand. TrueFan. Pure, sharp appealing and yet quite broad” adds Nimish Goelm

    TrueFan Logo

    TrueFan – Business Model and Revenue Model

    Users are asked to pay a nominal fee to play quizzes on TrueFan platform. The winner gets a personalized video from the said celebrity, other players receive cashbacks on the basis of their rank in the game.

    “We wanted to price our product in a manner that it can be accessed by a larger mass of the country. The true aspirational value we want to create is for the personalized videos, cashback is just a way to ensure that there is something in the bucket for everyone” Says Nimish, Founder, TrueFan

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    TrueFan – Startup Launch

    Post-closing the first funding round in August 2020, the team launched the TrueFan platform in September 2020. TrueFan announced its exclusive partnership with the biggest names of Bollywood, Kareena Kapoor, Ranveer Singh, Hrithik Roshan and Tiger Shroff. While something like this was never seen before, it felt surreal to a lot of fans at first.

    TrueFan team reached out to users to ensure smooth transaction and to make their experience with the celebrity more meaningful and personalized. This process helped it gain a lot of first hand feedback on the product and provided an eagle view from the consumer’s lens.

    The fact that the product fulfilled deep desire of fans to get an interaction from their favorite celebrity, its amazing to find that some have played more than 100 paid quizzes. And “paid” is the most important word here. Since, TrueFan is a user- centric platform, it used social media and google ads to target the demographic extensively

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    TrueFan – Startup Challenges

    TrueFan started during COVID. Although the pandemic did not pose many challenges, as it is a tech based product. But getting its name recognized in the market and building a unique identity for TrueFan was the challenging bit.

    “Since our value proposition is like none of the existing players in the market, TrueFan is gradually building a user base of its own” adds Nimish

    TrueFan – Milestones and Current Status

    TrueFan is headquartered in New Delhi and operates at two locations, Mumbai and Delhi.

    Two of the biggest milestones in TrueFan’s journey so far have been the funding received and partnerships with some of the biggest household names of Bollywood.

    Founders did a lot of research while giving shape to the product and then pitched it to leading talent and their management teams. TrueFan team was happy to have received a great response from them and that has led to successful partnerships

    TrueFan – Funding and Investors

    TrueFan raised a seed round of $4.3 million in August 2020. This funding round was led by Ronnie Screwvala, Mayfield India and Saama Capital

    Date Amount Stage Investors
    August 2020 $4.3 Million Seed Ronnie Screwvala, Mayfield India and Saama Capital

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    TrueFan – Competitors

    The celebrity- fan engagement space in India is still growing, there are quite a few players existing in the market, Gonuts, Unlu, Tring and Wysh.  Cameo, which is platform of the similar kind is considered as the largest player internationally

    TrueFan – Future Plans

    TrueFan’s short term goals lie in expanding its user base and celebrity portfolio. It wants to partner with A- listers from all walks of life (Music, Sports and more). While for the long run, TrueFan aims to build a 360 degree celebrity-fan engagement platform with a lot more features that enable fans to form communities and consume quality content that will be curated by platform.

    TrueFan – FAQs

    What is TrueFan?

    TrueFan is a platform that aspires to connect fans to their favourite celebrities in the most personal and meaningful ways.

    Who are the founders of TrueFan?

    TrueFan was co-founded by Nevaid Aggarwal, Devender Bindal and Nimish Goelm in January 2020.

    How much funding has TrueFan raised?

    TrueFan raised a seed round of $4.3 million in August 2020. This funding round was led by Ronnie Screwvala, Mayfield India and Saama Capital

    How does TrueFan make money?

    Users are asked to pay a nominal fee to play quizzes on TrueFan platform. The winner gets a personalized video from the said celebrity, other players receive cashbacks on the basis of their rank in the game.

    Who are Truefan’s competitors?

    Gonuts, Unlu, Tring, Wysh and Cameo are the major competitors of TrueFan.

  • List of Biggest Media Companies in the World

    The participation of mass media enterprises such as commercial, print publication, digital media, motion pictures and news, make media companies the most powerful. In the early 1980, over 90% of the media in America was run by almost 50 different companies. But in 1992 the number dropped to less than twenty-four, and in recent years, that same 90% lay fallen to a number of major conglomerates.

    Here is the list of the Top media giants that set a benchmark for other media enterprises throughout the world.

    Comcast
    The Walt Disney Company
    Time Warner
    CBS and Viacom
    Netflix
    Sony
    The New York Times Company
    YouTube
    Zee News
    FAQ

    Comcast

    Net Worth estimated at around $210 billion.

    Founded almost 58 years ago, Comcast is a massive multimedia conglomerate in the world by revenue. In 2014, Comcast reportedly made nearly $69 billion as reported by the Securities and Exchange Commission (SEC). In 2013, Comcast has owned 51% of NBC Universal from GE (General Electric).  Hence Comcast is the preeminent one, for its strong commitments and consistency.

    It is the single major cable TV operator and internet service provider in United States. However, the content is created through its subsidiaries like AT & T Broadband, DreamWorks Animation which is then aired over TV and the Internet through Comcast Xfinity. The leader company is headquartered in Philadelphia, Pennsylvania.

    Comcast vs Disney
    Comcast vs Disney

    The Walt Disney Company

    Net Worth is estimated at around $220 billion.

    The next largest mass media and entertainment conglomerate is The Walt Disney Company and its corporate headquarters are in Burbank, California. The company has ownership in pleasure grounds, film studios, and multiple television networks, such as the ABC, A&E and ESPN.

    They also have holdings in heritage companies like Marvel Entertainment and Lucasfilm of the Star Wars franchise. The mission is to entice and inspire people from all over, with recognized brands, entertaining sources and new innovations.

    Time Warner

    Net Worth is estimated at around $80 billion.

    Time Warner is an independent conglomerate, and is also recognized as the world’s biggest producers by revenue. By 1990, the company became the world’s most famous media company until Warner signed an unsuccessful amalgamation with Dot-Com Bubble that ultimately led to heavy fall of $98.7 billion alliance in 2002.

    The Dot-Com Bubble was one of the most major economic events in recent history that ultimately led to a stock market crash. The Dot-Com Bubble started in 1990s with a rapid wave of new internet companies. So like many other companies, Time Warner too suffered recession with the merger.

    But in 2009, Time Warner regained its leader position. As per 2017 reports, Warner is estimated to have raised $31.27 billion in approx. Since then, AOL and Time Inc., as well as Time Warner’s entire cable division have become separate companies.

    CBS and Viacom

    Net worth of Viacom CBS is estimated at around $17.5 billion.

    CBS and Viacom, being among the diversified multimedia conglomerate reportedly made about $14 to $15 billion in revenue each as per 2013 records. They used to be a single conglomerate administered by National Amusements, a movie theater chain.

    Viacom CBS
    Viacom CBS

    On 13 August 2019, it was officially announced that CBS and Viacom would merge into a new entity known as Viacom CBS after their separation from the first personification of Viacom in January 2006.

    Netflix

    Net Worth is estimated at around $234billion.

    Relatively a new comer to the Entertainment industry, Netflix is one of the top entertainment media that has expanded over time. In just 20-25 years, it has set the bar high making billions in annual revenue, and ranking 15th on the most innovative companies list. And is the 79th most relevant media in the world.

    Netflix Fact
    Netflix Fact

    The film and television joint i.e., Netflix both in annual revenue of approximately $7.15million. The company is headquartered in the town of Scotts Valley, California.

    Sony

    Net Worth is estimated at around $95billion.

    Sony is the biggest and most diverse conglomerate corporation, based in Japan that includes game and network services, music, pictures, and electronic products and solutions.

    The New York Times Company

    Net Worth is estimated at around $10 billion.

    Established in the year 1851, The New York Times Company is currently under the chairmanship of A.G. Sulzberger. The company aims in enhancing society by creating, collecting and distributing high quality news, and other media properties.

    It also produce iconic newspapers and is one of the most respected source of news. In 2019, it had a raise of $1.81 billion revenue. Along with YouTube, Facebook and Twitter, the company added new digital subscribers in the recent quarter.

    YouTube

    Net Worth is estimated at around $170 billion.

    Indeed YouTube is the pulsating sensation of the electronic community that has incited the video sector. From my reminiscence, VCR and then DVD player were the only source of medium to watch videos, and then we moved to cable networks and now its YouTube.

    YouTube fact
    YouTube fact

    But only about 30 years ago, streaming videos over the internet was pretty much the toughest science figment. The YouTube phenomena has been around for approximately 15 years and already it has definitely changed the world with its influence and it is truly over-whelming.

    Zee News

    Net Worth is estimated at around $93 billion.

    Owned by the Essel Group, Zee News is an exclusive news channel from India and World that research and streamline breaking news relating to business, glamour, economy, politics, sports, art and science. With a dedicated team of sincere and efficient employees, the company is predominantly focused on public awareness about all affairs.

    The journalists reach anywhere and everywhere to give eyes to the necessities, and with this they are able to spread cognizance about uncertainties and promote good for the better. In 2018, there was a raise in valuation from about 75 billion rupees.

    FAQ

    Is Google a media company?

    Richard Gingras, an American Internet executive and entrepreneur, argues that the company does not “produce media” that this is the reason Google does not describe itself as a media company.

    What is the richest entertainment company in the world?

    Comcast is the richest entertainment company in the world.

    Who is the biggest broadcaster in the world?

    Comcast Corp is the biggest broadcaster in the world.

    Conclusion

    Digital media companies are different from traditional companies as they tend to have more streams of revenue. Media industry is considered as the one of the most profitable industries in world. Many advertisers are more comfortable paying to reach consumers online.