HT Media to strengthen OTTPlay, expanding its presence in the OTT space
HT Media Limited, a leading media and entertainment company, has announced its renewed focus on OTTPlay.com, a new platform aimed at tapping into the fast-growing Indian OTT market. OTTPlay.com is designed to aggregate OTT content, providing users with an abundance of options, convenience, personalization, and affordability.
The Indian OTT space has emerged as one of the fastest-growing pillars of the media and entertainment industry. HT Media Limited recognizes the immense potential of this market and aims to leverage it through the launch of OTTPlay.com. The platform will offer a wide range of content from various OTT providers, ensuring a diverse and engaging viewing experience for users.
Piyush Gupta, Group CFO of HT Media Limited, highlighted the significance of the OTT segment in their business strategy. "Our Digital business remains a key focus area for further innovation, and the launch of OTTPlay.com aligns perfectly with our growth objectives. We believe that OTTPlay.com will cater to the evolving needs of our audiences, providing them with credible news and engaging content in a convenient and affordable manner," said Gupta.
During the conference call for analysts and investors, Gupta provided an overview of HT Media Limited's financial performance for the quarter and full year ended on March 31, 2023. While the profitability was subdued due to elevated input costs and business development expenses in the Digital business, the company expressed confidence in the growth prospects of the OTT segment.
With the launch of OTTPlay.com, HT Media Limited aims to expand its digital footprint and capture a significant share of the booming OTT market in India. By aggregating content from various platforms, the company intends to provide users with a comprehensive and seamless viewing experience.
HT Media Limited remains committed to delivering credible news and engaging content to its audiences across different media platforms. The launch of OTTPlay.com demonstrates the company's dedication to staying at the forefront of the evolving media ecosystem and meeting the changing preferences of consumers.