2020 has been dramatic for all of us. One of the biggest news in terms of business and entertainment was the ban on social media giant TikTok in India. The move proved beneficial for Indian players and they leveraged the opportunity by launching platforms and luring creators to their platform.
Here we look at a few platforms and how they have fared.
According to App Annie Intelligence, MX Takatak owned by Times Internet is showing the best results after it’s launch in July. Moj, owned by Sharechat is the closest competition.
Moj- Moj which is owned by Sharechat recorded 10 million downloads within 6 days of its launch. Moj has shown steady growth and it continues to be the closest competition of MX Takatak in terms of numbers.
Josh– Owned by Dailyhunt which turned unicorn one day back, Josh has shown decent growth with the period of time and is maintaining its numbers since the launch. During 45 days of its beta launch, Josh has embarked on more than 200 top exclusive creators, four mega music labels, and over five million creators of user-generated content (UGC), recording more than one billion video playbacks a day and spending more than 21 minutes per DAU. Josh is the youngest app amongst all of these
Other homegrown apps such as Chingari and Mitron showed promise when they picked pace after the ban of TikTok but they eventually have slowed down after the funding raised. Chingari also won the best social app award in Aatmnirbhar Bharat app innovation challenge.
These results after 6 months prove that players with deep pockets are faring really well in the market by luring the creators with money and spending money to keep the users engaged.
Times Internet is one such player which owns two of these apps- MX Takatak and Gaana Hotshots. Times Internet is maintaining its control over the content, music streaming and now short video space.