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YuppTV launches in India, plans to raise $50 mn to fund growth
MUMBAI: US-based internet TV streaming service provider YuppTV, which has formally launched its service in India today, is planning to raise $50 million in three to four months to fund its expansion plans, founder and CEO Uday Reddy said.
Reddy also revealed that the company has already raised $11 million. It hopes to generate $20–$30 million in revenue during the current financial year. The streaming service provider had generated revenue of $15–$16 million in the last fiscal.
YuppTV formally launched its service in India under the auspices of Telangana minister of Panchayat Raj and information technology KT Rama Rao, in the presence of cricket legend Brian Lara and Bollywood actress Parineeti Chopra.
The streaming service provider currently provides 200+ channels in 12 languages. Apart from the live TV experience that viewers get, YuppTV offers catch-up TV technology for the first time in India whereby viewers can watch TV content from the past seven days.
Viewers will also have access to more than 5,000 movies and hundreds of TV shows on their TV at the click of a button. As part of the video-on-demand (VOD) service, YuppTV has over 25,000 hours of video content in its catalogue and 2,500 hours of content is added every day.
YuppTV will provide real-time recommendations to the viewers on most trending live TV channels using advanced analytics. It has also introduced time shift technology that enables broadcasters to provide viewers the ability to pause and rewind live TV for up to two hours. If viewers are late for a TV show, they can watch the same from beginning using this start-over feature.
YuppTV is accessible on multiple internet-enabled devices such as smart TVs, smartphones, tablets and the web. YuppTV app can be downloaded on any Android and iOS devices, and has potential to reach more than 200 million smartphone users.
YuppTV App is already available on the majority of smart TVs in India. In spite of limited high-speed internet infrastructure in India, YuppTV promises to provide bufferless TV viewing experience using adaptive bit rate technology to viewers even on 2G connections.
“Our vision is to liberate entertainment, to make TV accessible to all, with a rich video viewing experience. We are breaking stereotypes, disrupting the market with OTT technology, providing easy access to unlimited content over public internet,” Reddy said.
Further emphasising the benefits of OTT technology, he added, “YuppTV service will be a one-stop shop for all entertainment. A new way to TV is here and it will revolutionise the way television is watched by giving the control to the user to watch TV at his convenience.”
Speaking at the event, Telangana Panchayat Raj and IT minister KT Rama Rao said, “It is a privilege to support YuppTV, a company whose 97 per cent employee base operates from Hyderabad and which made it to the Top 100 companies of North America by getting a Red Herring award in 2015. The launch of YuppTV’s OTT service is in line with our vision to foster growth of digital India. Over the past few years, technology has been changing lives and YuppTV service is one of those innovations fuelling this change.”
Brian Lara, who has been associated with YuppTV in Trinidad too, along with their technology partner TSTT, said, “With just one touch of entertainment, YuppTV is providing a phenomenal change in Trinidad with high-quality internet TV service and I hope to see the same in India.”