Studio Mojo looks to ride the OTT wave with regional content
MUMBAI: Regional video entertainment network Studio Mojo, founded by former iStream CEO Radhakrishnan, is looking to cash in on the boom in the over the top (OTT) space.
Radhakrishnan, who is also the CEO of Studio Mojo, feels that regional will drive the real growth for OTT players. He is focussing on seven key regional language markets Tamil, Telugu, Kannada, Malayalam, Marathi, Bengali, and Bhojpuri.
Currently, Studio Mojo creates original content in Malayalam, Telugu, Tamil, and Kannada. In the second phase of its expansion, the company plans to create original content in Marathi, Bengali, and Bhojpuri.
The company is also setting up a business development team in Mumbai for the second phase of expansion. Studio Mojo is also planning to set up studios in Chennai, Hyderabad, and Cochin.
The original content being created by the company is syndicated to OTT platforms. Studio Mojo has licenced content to ZEE5 and YuppTV and is in talks with Viu and Times Internet’s soon to launch OTT platform to create original content for them.
To build a strong team of storytellers, Studio Mojo is building a scouting team in each regional market.
“ We are also building a revenue model around syndication and licensing of regional content. Regional market is not very organised when it comes to syndication. There are lots of grey areas in terms of content ownership and licensing. We hope to be that network between regional content players and platforms. We are talking to DTH and IPTV players and Telcos not just in Incia but overseas markets as well, ” Studio Mojo founder & CEO Radhakrishnan told TelevisionPost.com.
The company is also looking into the revenue share model especially for its short-format content which is available on aggregation platforms like YouTube. Studio Mojo also owns a clutch of channels on YouTube. It creates short-form video content for these platforms.
“When it comes to short format content we will hold the IP whether it is on social media networks like Facebook and YouTube or on other OTT platforms. For commissioned programming the platform generally keeps the IP, but we are also working on new business models where we give the IP for domestic market and hold the overseas rights of the content created or give the rights to the platform for six months and retain it post that. We are working out a hybrid model since retaining intellectual property rights becomes critical in the future,” he said
Set up earlier this year in South India, the company claims to have generated around 100 million monthly views from more than 1.5 million subscribers across 15 channels on YouTube, making it one of the biggest regional video networks.
Studio Mojo is Radhakrishnan’s third video venture after iStream that shut down in 2013 due to issues funding related issues and Pepper Media that started off as a YouTube multi-channel network but is now focusing on video services like content management, video tagging, and digitisation.
For Radhakrishnan, the first task is to build a sustainable business model and then look out for funding.
“Currently, Studio Mojo is funded internally, and we are aiming to scale up in future. We will figure it out how to raise money but right now our idea is to build a business model that is not depended on external funding,” he averred.