New Delhi: Entertainment marketing and celebrity management firm, Kwan Entertainment and Marketing Solutions has launched independent entity Kwan Digital, a marketplace which connects online video streaming platforms like Netflix and Hotstar with directors, writers as well as content creators. Kwan Digital will primarily be involved with licensing deals, content integration, selling digital rights of films, distribution, syndication and talent packaging of content for these digital platforms.
The new entity comprises a team of 15 and is being headed by Ashwattha Naik who was heading Kwan’s movie packaging business.
“The digital market in India has seen a sudden growth in these past few years and we at Kwan intend to contribute to this growing digital video phenomenon. We want to become a trusted marketplace which offers transparency in pricing and value to creators and streaming platforms. We would help our talent and network of associates effectively to monetize their work on various digital platforms," said Anirban Das Blah, managing director, Kwan Entertainment and Marketing Solutions.
The firm claims to be in conversation with several platforms for multiple shows and feature film licences. Apart from distribution, Kwan Digital will also facilitate meetings for content creators who will pitch their ideas to video streaming platforms. They will also facilitate funding of content projects. “The idea is to promote new talent and push original content on these digital platforms. We will launch a website where artist can register and feature their work," said Blah.
In the last one year, OTT video on demand (VoD) platforms have seen an upsurge with the entry of global players such as Netflix and Amazon Prime. Currently, all major broadcasters have OTT platforms, such as VOOT (Viacom 18), Alt (Balaji Telefilms) and OZee (Zee TV). Other platforms like Hotstar (Star India) and Sony Liv (Sony Entertainment Television) have consolidated their offerings by launching premium services and a dedicated kids channel respectively. Telecommunication platforms such as Jio owned by Mukesh Ambani’s Reliance Jio Infocomm Ltd have also joined the OTT game with syndicated content offerings.
According to a report titled Media for the masses: The promise unfolds by consulting firm KPMG and lobby group Ficci (Federation of Indian Chambers of Commerce and Industry), original ‘for-digital’ content is still at a nascent stage with a few platforms beginning to invest in the same. The report stated that Amazon Prime leads the pack by investing Rs500 crore in original content followed by Sony Liv, Voot and Eros Now which are pumping under Rs400 crore. Alt, promoted by Balaji Telefilms, is investing Rs50 crore.
While there has been investment on these streaming platforms, the monetization models are currently limited and economic models are still evolving. Further, the absence of a credible measurement model continues to hamper advertiser confidence in this sector.