While Chingari has been among the many short-video platforms gaining steam in India since TikTok’s ban, the company doesn’t quite have the same backing as Moj, Josh or MX Taka Tak
NEW DELHI: Homegrown short-video platform Chingari, which has gained some prominence since TikTok’s ban in India, announced a licensing deal with music label T-Series on Friday. The deal will allow Chingari’s users and creators in India, West Asia and SAARC nations to access music owned by T-Series.
Deals with music labels are an integral part of running short-video platforms, and one that costs companies quite a bit of money. Platforms like ShareChat and Josh, which have big investors backing them, have also announced deals with multiple labels for their short video platforms. ShareChat runs Moj, while Josh is owned by Indic language news app DailyHunt.
While Chingari has been among the many short-video platforms gaining steam in India since TikTok’s ban, the company doesn’t quite have the same backing as Moj, Josh or MX Taka Tak. The company received $1.3 million in seed funding from AngelList, LogX Ventures, iSeed, Village Global and some others last month. ShareChat and DailyHunt, on the other hand, are valued at over $600 million.
The deal will also help insulate the companies from possible lawsuits, to some extent. T-Series recently sued Chingari’s rival Roposo, which is owned by advertising giant InMobi, for copyright infringement. The company accused Roposo of “blatantly, extensively and wilfully" infringing of copyrights owned by T-Series via its platform.
“The licensing pact between T-Series and Chingari is a win-win for both sides as this mutually beneficial agreement amalgamates social media and music while promoting business ethics," said Bhushan Kumar, managing director, T-Series. “This sets the right precedent for social media platforms and music rights owners to work and evolve together," he added.