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"Retaining 13 million subscribers is a challenge": Vishnu Mohta, Hoichoi
The VOD platform from the stable of Kolkata-based Shree Venkatesh Films has also unveiled its fresh slate of 25 new 'Originals', two 'First Day First Show' films and multiple world digital premieres for the upcoming year.
Hoichoi, the subscription-based Bengali video-on-demand (VOD) platform which just turned three, claims to have streamed over 60 'Originals' and 50 world digital premieres so far. To mark the occasion, the VOD platform from the stable of Kolkata-based Shree Venkatesh Films (SVF) unveiled its fresh slate of 25 new 'Originals', two 'First Day First Show' films and multiple world digital premieres for the upcoming year.
Vishnu Mohta, co-founder, Hoichoi, revealed that the platform has 13 million subscribers and 40 per cent of its revenues come from international customers. "Bangladesh is our biggest international market, in terms of the number of subscribers. However, the US is the biggest when it comes to revenue, as it is priced at $9 there. After US, it's the Middle East."
According to Mohta, the numbers have surpassed expectations. There was a surge in the number of Hoichoi subscribers during COVID-induced lockdowns. "Now the challenge will be to retain the subscribers acquired during this period."
Mohta said that the investment in content went up by 80 per cent in the last fiscal, and it will double next year. "With cinema halls shut, it is an opportunity for us to dish out some premium marquee shows and we will not shy away from spending."
The OTT platform, with subscribers in over 100 countries, including Japan, Sweden, Argentina, Iceland and more, is undergoing a tech revamp, and will soon launch the new avatar of its mobile and web platform.
Hoichoi has also announced 'carrier billing', which will allow customers access in the form of sachet pricing. They can buy a Hoichoi subscription for a week, or a month, by paying with their mobile balance. This will soon be available for users in Bangladesh and the Middle East. There’s also subscription bundling for customers in India with Jio Fiber, and in Bangladesh with a leading telecom network.
A Hoichoi subscriber, according to a statement shared by the organisation, spends 50 minutes daily on the platform.