Flipkart Launching Its Own Video Streaming Service In India
Get ready to shell out money for another subscription as Flipkart, the Indian e-commerce giant will launch a video streaming service soon. With the popularity of video streaming service on the rise in the country, Walmart-owned Flipkart is trying to enter the market with its own streaming service.
Speaking to the BloombergQuint in an interview, Flipkart CEO Kalyan Krishnamurthy said, “Our customer segment today is heavily skewed towards 18-35 age group, and that audience watches a lot of videos, both in terms of time spent, frequency, and it is disproportionately high.”
A name for the service has not been proposed by the company yet. Krishnamurthy said that the company could partner with some existing big names in the industry by acquisition or partnerships.
Flipkart already has good relations with Hotstar as the duo launched a video advertising platform recently. Additionally, Hotstar is also the partner company in the Flipkart Plus, a loyalty program run by the company.
A Flipkart spokesperson told VentureBeat that the streaming service could be a part of its “loyalty construct” to expand it.
This move could also be seen as a means to compete with the rival company Amazon that bundles free delivery, video streaming service, and audio streaming service in its loyalty program named Amazon Prime.
When questioned whether the service would be available in the next year or two, Krishnamurthy said, it would launch “hopefully before” that.
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