In a statement issued to BroadcastPro, Viu said it was prioritising its investments to South East Asia, and Middle East and Africa to further achieve rapid growth in a sustainable fashion.
VOD streaming service Viu, which announced earlier today at the company’s Mumbai office, that it was winding down its India operations, told BroadcastPro ME that it saw “no current path to sustained monetisation” in the country.
In response to a query from BroadcastPro on its decision to exit the Indian market, the streaming service issued the following statement: “Viu has gained tremendous traction achieving 36 million MAU across 17 markets over the last four years. In this span of time, Viu has emerged as one of the top leaders in OTT Industry in South East Asia, Middle East and South Africa. India is a large potential market, but also complex and challenging. While consumers in India are just starting their OTT journeys, the level of hype and investments in the market are extremely high with no current path to sustained monetisation. Therefore, we are pausing on making additional investments in India. We are prioritising our investments to South East Asia, Middle East and Africa to further secure our leadership and achieve rapid growth in a sustainable fashion.”
Owned by Hong Kong-headquartered media group PCCW, Viu launched its India operations in 2016.