To bolster the creator economy, Bolo Indya recently launched Bolo Meets and introduced Bolo-Live. The platform currently has over 28.50 lakh creators spread across 14 languages and looks to build strong revenue ecosystem for content creators.
Creator-first live streaming platform, Bolo Indya, launched in May 2019 is positioning itself as the go-to destination for content creators of semi-urban and rural areas across the nation and expects its creator income to grow by 300% by December 2021.
Commenting on it, Varun Saxena, CEO & Founder, Bolo Indya, said, “The platform has emerged as the largest live streaming app in India over the last 6 months, with more than 12 lakh live streaming sessions happening on Bolo Indya in February 2021. We are the only homegrown app to be able to boost the creator economy for Tier 2-4 content creators. We are not the part of the clutter that we see in the short video apps segment.”
He further added, “Content creators on Bolo Indya have earned more than Rs. 2.2 crore over the last 7 months with most of the top-earning creators coming from Tier 2 and 3 regions. We have not only focused on the creator economy for video editing savvy content creators of metros and tier 1, but we have empowered the content creators of actual Bharat to be able to monetize every time they generate content on the platform. The earnings of our top creators are close to Rs 95,000 per month, while the median earning is close to Rs 26,000.”
Detailing about the launch of Bolo Live and Bolo Meets, Saxena said, “The response has been far more encouraging than what the platform expected at the time of launch. He added that 90 percent of creator earnings on the platform are happening through Bolo Live and Bolo Meets. Furthermore, Bolo Indya creators are no more dependent only on brands or shopping commerce for monetisation.”
Referring to the Indian market space, he further added, “Market is mature already, and more than metros and tier 1, it is the tier 2-4 audiences who are hooked up with real-time gifting and gamification on the platform. The volume of monthly gifting to creators is close to 5 lakh as of March 2021, while it was 1.4 lakh in February 2021 and just 40,000 in the month of January 2021.”
Speaking about the platform, he added, “Creators can create, host, get paid, and deliver Bolo Meets on the platform itself through one-to-one and one-to-many live interactive sessions. In addition, for creators working on a scale with us, we also provide them with a unified managed services dashboard that empowers content creators to be able to have a single and easy-to-use view of their entire revenue generation.”
Bolo Indya, which has raised with $1.1 million funding to date, has been in advanced talks to raise nearly Rs. 45-51 crore. The proceeds from the fresh funding will be used to further enhance Bolo Meet’s personalisation and recommendation engine and predictive analytics capabilities including Bolo Meet’s experience, penetration, and interactive tools to strengthen content commerce and content monetisation capabilities. The platform is expected to close FY21 with revenue of $0.5 million (Rs 3.68 crore).
For Bolo Indya, the top languages that have traction on the platform are Hindi followed by Telugu, Tamil, Bangla, Punjabi, and Marathi. Other languages have been growing well at least in Bolo Indya. Hindi comprises only 43 percent user base and 57 percent creator base. Telugu is the second most-consumed language, followed by Tamil and Bangla. Punjabi and Marathi are the next two in terms of traction.