New Delhi: In an unusual alliance, two rival over-the-top (OTT) video streaming platforms have joined hands for content. To increase the subscription video-on-demand (SVoD) business in India, ZEE5 and ALTBalaji have announced an alliance, with both looking to leverage each other’s strength in the OTT domain and will collaborate to co-create original content which will only be available on their platforms.
ZEE5 is the OTT service owned by Zee Entertainment Enterprises Ltd, while ALTBalaji is managed by Ekta Kapoor’s Balaji Telefilms Ltd.
The content sharing arrangement includes co-creation of more than 60 original content series, in Hindi, which will be available exclusively to SVoD subscribers of both the platforms. This association is a collaborative process of understanding consumer insights and marketing to serve the viewer better and resulting in improved monetisation for both, the two companies said in a statement.
“I truly cherish the bond between Balaji and ZEE, which has been nurtured and built over the last two decades. Together, we have created some path breaking content masterpieces which have truly entertained our esteemed audiences. I am most certain that this association will enable both the brands to re-create the magic, this time in the digital space," Punit Goenka, managing director and CEO, ZEEL, said in a statement.
As part of the association, ALTBalaji will maintain an exclusive partnership with ZEE5, to boost its offerings with a focused and strategic approach.
“This collaboration strengthens the 25-year old fruitful relationship between the Zee Group and Balaji Telefilms, from television content, to movie monetisation and now to digital video streaming. It plays to each partner’s individual strength and the consumer is the ultimate winner. This partnership will result in Balaji Telefilms being profitable as an entity, thereby giving us an opportunity to scale up our business ambitions, creating value for all our stakeholders," Shobha Kapoor, managing director, Balaji Telefilms said in a statement.
As part of this partnership, ZEE5 subscribers will get seamless access to ALTBalaji’s originals in addition to existing ZEE5 content, Ekta Kapoor, joint MD, Balaji Telefilms added, enabling ALTBalaji to continue to scale up its content creation ambitions rapidly and focus on building the largest library of original exclusive shows in India.