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Success Stories and Case Studies

Startup Stroy, Company Profile, Founding Team, Business Model, and Many More

Introduction:

Hoichoi Technologies Private Limited (HTPL) is six years 28 days old Private Limited Indian Non-Government Company incorporated on 18 Apr 2017. Its registered office is in Kolkata, West Bengal, India.

The Corporate is engaged in data processing, hosting and related activities, and web portals. The Company’s status is Active, and it has filed its Annual Returns and Financial Statements up to 31 Mar 2022 (FY 2021-2022). It’s a company limited by shares having an authorized capital of Rs 25.00 cr and a paid-up capital of Rs 18.16 cr as per MCA. 2 Directors are associated with the organization. Mahendra Soni and Vishnu Kant Mohta are presently associated as directors.

Hoichoi Highlights:

Company Name Hoichoi
Headquarter Kolkata, India
Industry OTT
Founded 2017
Founder Vishnu Mohta, Mahendra Soni and Shrikant Mohta
Website https://www.hoichoi.tv/

About Hoichoi:

Hoichoi Technologies Private Limited is an Indian Non-Government Company. It’s a private company and is classified as ‘company limited by shares’. Company’s authorized capital stands at Rs 100.0 lakhs and has 35.0% paid-up capital which is Rs 35.0 lakhs. Hoichoi Technologies Private Limited is majorly in Community, personal & Social Services business and currently, company operations are active.

Hoichoi is an on-demand video streaming platform for Bengalis all over the World. With a library of over 500 Bengali Movies, Hoichoi also showcases exclusive Original Shows and Shorts, with new content being added every month. There’s more – Hoichoi Films and Documentaries are coming very soon!

In case you are a music buff, Hoichoi has over 1,000+ Bengali songs from the most popular albums. Stream and Download your favorite Bengali songs – No more paying separately!

For the movie buff in you, who has watched a film a dozen times, and still looks forward to the next rerun. For the music lover in you who is filled with nostalgia from the very introduction of a song. For the Bengali in you, who is immediately reminded of dhaak and dhunuchi at the sight of kaash phool. Hoichoi is a tribute to the love received from audiences through the last two decades.

Whether you are from Bengal or not, whether you live in Bengal or not. With Hoichoi, you can now watch and enjoy non-stop Bengali entertainment online. Anytime, anywhere!

Hoichoi Industry:

Hoichoi is the digital vertical of SVF Entertainment – a leading Media and Entertainment company in East India, with 7 National Awards to its credit and capabilities in Film and TV Production, Cinemas, Distribution, Digital Cinema, Music and New Media.

Hoichoi Founder and Team:

Hoichoi Founder and Team
Hoichoi Founder and Team (Image source: The Business standard)

Founded in 2017, hoichoi is the maiden venture of SVF under its new media section and is headed by Co-Founder Vishnu Mohta who is also the Executive Director of SVF. Mahendra Soni is the Director & Co-founder of it. Vishnu Mohta is co-founder of hoichoi.

Hoichoi Startup Story:

When Hoichoi launched in 2017, it envisioned itself as the one-stop entertainment destination for more than 250 million native Bengali speakers around the world. Three years, 600-odd titles and 3,000 hours of programming later, it is the leading Bengali OTT platform not only in India, but also in Bangladesh, the UAE, and 100 other countries. Hoichoi reaches 13 million cumulative subscribers (including via telco partners), which may be higher than most Indian OTT apps. The platform also houses 1,000 music videos and several hours of non-fiction content.

In September, Hoichoi unveiled its grand content slate for its fourth year. This included 25 original series, including literary adaptations, thrillers, romance, comedy, horror, ‘First Day First Show’ films, and exclusive digital premiers.

Hoichoi Mission and Vision:

hoichoi is a leading Bengali entertainment platform with over 2,000+ hours of Movies, exclusive Original Series, Songs, Music Videos, and more. With an aim to bring Bengali content globally and connect the 250+ million Bengalis residing worldwide. As they are completing their three years of existence in the industry, they are celebrating with hoichoi Season 4.

Hoichoi Logo
Hoichoi Logo (Image source: Wikimedia commons)

Hoichoi Business Model:

The first OTT platform from Bengal, launched in 2017, is in the process of identifying content mix for countries like the US, the UK, Australia and Canada, which have already contributed 40% of its overall direct subscription revenue. Besides, it is also focusing on the market in Bangladesh, where its monthly subscriptions have doubled since last year.

Speaking on the focus areas of Hoichoi for the next five years, the co-founder and director, Vishnu Mohta, told TOI: We are making strategic bundling partnerships across telecom, ISPs, e-commerce, both in India and Bangladesh where we are also cultivating a pool of creators, writers, technicians and producers. We are planning to deepen our focus on Middle East and South East Asian markets through direct carrier billing partnerships with key telecoms and offer local payments. We are contemplating having the contents created by locals in Bangladesh. We have plans to reach out to Tier II and III by offering offline payments through direct and retail partnerships.

Over the last four years, the business strategies adopted by Hoichoi included no free trial or a monthly subscription plan, investment in original shows, the introduction of a new revenue model by dubbing original shows in Hindi and the decision to stop licensing of the Bengali originals and focus on driving direct subscriptions.

Hoichoi Revenue Model:

There is no data on it.

Hoichoi Products and Services:

Hoichoi is an on-demand video streaming platform for Bengalis all over the World. With a library of over 500 Bengali Movies, Hoichoi also showcases exclusive Original Shows and Shorts, with new content being added every month.

Hoichoi Funding and Investors:

There is no funding yet.

Hoichoi Employees:

There is no data on it.

Hoichoi Challenges Faced:

There is no data on it.

Hoichoi Acquisitions:

No acquisitions have been done.

Hoichoi Growth:

The platform aims to launch 25 new shows. Of this, 21 shows will be launched in India and four in Bangladesh, this festive season. For Mohta, the company has doubled its investment in content in Bangladesh while the Indian content has recorded a 40-50% increase in investment this year.

“We are working with the top creators this year for our content. While we have announced only 25 originals, we know the number will exceed. For instance, in Bangladesh, we expect to release six to 10 shows this year,” Mohta clarified.

hoichoi claims to have seen a 50% growth in direct subscriptions on its platform, with a 20% increase from other platforms, such as Amazon Prime Channels, last fiscal. Further, it has seen a 31% rise in watch time and 30% rise in monthly active users, besides the international subscriber base. To increase its userbase further, the platform has launched a marketing campaign across Bengal leveraging the upcoming Durga Pujo. The company claims to have increased its marketing spending by 30% this year as opposed to last.

The company has set aside 15-20% of its marketing spends for below-the-line (BTL) medium via out-oh-home (OOH) advertisements, events and pandal sponsorships, events; while the rest 75-80% will be diverted towards online medium where the platform to drive conversations and trying to build communities. “On traditional platforms such as TV, radio and print, our marketing spends are very minimal. However, during this time we invest a lot on OOH a lot of people come to Kolkata during Durga Pujo and we want to leverage the rise in footfalls to communicate with a larger audience,” he added.

Hoichoi Partners:

HoiChoi partners with RJio. According to a release issued by the OTT platform, JioFiber customers on Silver and above plans, will have access to the platform’s streaming service that includes over 2,000 hours of Bengali movies, Originals (exclusive) and a wide array of content. Content will be available on Jio set top box. Additionally, Bengali and Hindi Original Series of hoichoi will also be available through the JioTV+ app, it further said.

Hoichoi Competitors:

Main competitors are – Amazon Prime, Netflix, Hulu, Hotstar, MX Player etc.

Hoichoi Awards and Achievements:

It won different awards.

Hoichoi Future Plan:

Hoichoi is focusing on existing international markets by partnering with local telecom companies and local talent. The company is looking to expand to Malaysia and Singapore in the first quarter next year.

FAQs About Hoichoi:

What does Hoichoi do?

Hoichoi is an on-demand video streaming platform for Bengalis all over the World. With a library of over 500 Bengali Movies.

When was Hoichoi founded?

It was founded on 2017.

Who is the founder of Hoichoi Corporation?

Founders are Vishnu Mohta, Mahendra Soni and Shrikant Mohta.

Who is the CEO of Hoichoi Corporation?

Vishnu Mohta is the CEO.

Who are the main competitors of Hoichoi?

Competitors are Amazon Prime, Netflix, Hulu, Hotstar, MX Player etc.

Conclusion:

Interestingly, hoichoi has established a retail channel of network by partnering with telecom companies as well as local mobile recharge service providers to promote and sell hoichoi subscriptions in tier 3 and tier 4 cities.

“Our partnership with other platforms is a way for us to tap into an ancillary market and increase our base in the Hindi speaking market as only Hindi dubbed content are available on these platforms,” Mohta highlighted.

While still at a nascent stage, the company believes that it is imperative to build a direct relationship with distributors and has set aside a 10-12% cut for the distributors. Furthermore, it has inked syndication deals with other platforms such as MX Player.

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