US-based over-the-top (OTT) video service YuppTV has announced its launch in India along with plans to raise US$50 million to fund its expansion.
The online service will offer Indian viewers over 200 live South Asian TV channels in 12 languages, and additionally provide a catch-up service allowing viewers who missed a show or wanted to watch it again to do so within seven days of its original broadcast.
Viewers can also access more than 5,000 films and hundreds of TV shows on-demand from YuppTV's extensive library of South Asian content. It also offers real time recommendations on trending live TV channels using advanced analytics and time shift technology that enables viewers the ability to pause and rewind live TV for up to two hours.
"Our vision is to liberate entertainment, to make TV accessible to all, with a rich video viewing experience. We are breaking stereotypes, disrupting the market with OTT technology, providing easy access to unlimited content over the public Internet," said Uday Reddy, founder and CEO, YuppTV.
"The YuppTV service will be a one-stop shop for all entertainment. A new way to TV is here and it will revolutionise the way television is watched by giving the control to the user to watch TV at his convenience."
The OTT operator has already raised US$11 million, Reddy told reporters, but plans to raise another $50 million in the coming few months. It is targeting $20 million to $30 million turnover for the current financial year. Last year YuppTV's turnover was between $15 million and $16 million.
Speaking at the Hyderabad launch event, IT Minister of Telangana, Shri KT Rama Rao added: "Launch of YuppTV OTT services is in line with our vision to foster growth of Digital India. Over the past few years technology has been changing lives and YuppTV service is one of those innovations fuelling this change."
YuppTV will use adaptive bit rate technology to help combat buffering, given India's limited high speed broadband infrastructure.
Available to download for Android and iOS based smartphones and tablets, the YuppTV app is also available on smart TVs, gaming consoles and Internet-connected set-top boxes.
Source: http://www.rapidtvnews.com/2015101540271/yupptv-launches-ott-service-in-india.html#axzz3ocvoIOhG