Bolo Indya launches Bolo-Live streaming feature.
Bolo Indya has announced the launch of Bolo-Live - Industry's first Live streaming capability on an Indian short video platform for a wider audience. The Bolo-Live streaming feature comes with integrated real-time gamification in a form of a gifting option where creators can be rewarded by their follower base basis the content quality, density as well as engagement which can be redeemed in cash on the Bolo Indya platform. Bolo-Live has already crossed 1 lakh monthly microtransactions during its soft launch.
With the wider launch of Bolo-Live streaming feature capability, Bolo Indya strengthens its position as a leader in the creator economy amongst short video apps from India. This is a step forward in the vision of Bolo Indya that aims at empowering content creators from Bharat to transform their social capital to financial independence.
The Platform currently has over 68 lakh users including 28.50 lakhs creators, spread across 14 languages. With the unique service offering, Bolo Indya expects its creator income to grow by 300% by December 2021.
As part of Bolo-Live, creator partners on the platform will now have an added streaming feature to go live, to deliver their specialized skills-based services as well as other highly engaging content to their follower base in the language of their choice. Users can send their favourite live performing creators, a wider variety of digital gifts right from a rose for 10 Rs to even a space rocket for 500 Rs to a special occasion premium gift for 1000 Rs.
With real-time gamification, integrated in these broadcasting sessions, users can emerge as the top fans of their favourite creators in a broadcasting session and win incentives or goodies from their favourite creators
The most popular emerging categories for Bolo Live currently include Entertainment, Fitness, Comedy, Fashion & Lifestyle language learning etc. Average transaction size during live session starts from Rs 20-25 with more than 100 micro transactions happening for each broadcasting session already.
Commenting on the launch, Mr. Varun Saxena, Founder and CEO Bolo Indya said "We are on a mission to build big data and artificial intelligence (AI) technology-led platform that enhances the engagement of content creators with their followers at every touchpoint. Through live streaming, Bolo Indya’s ‘equal opportunity’ algorithms infuse new life to engagement between short video creators and their followers.
“As we embark on a journey to enable a 360-degree stack of content consumption for our users and earning for creators, we are confident that Bolo Live will be able to be able to drive closer connect, bond and credibility amongst our users as well as creators and help them gain more revenues for their content creation ability.” he further added.
Virtual gift-giving is one of the top preferred activities by lovers of online streaming and Bolo Indya becomes the first homegrown short video app to bring this to the creators and consumers of local language short videos in India. This coupled with Bolo Meets, personalized online services sessions hosted, distributed and delivered on the platform makes it a full 360-degree journey for content consumers to engage with their favourite creators, and for creators to be able to earn by monetizing their connect and credibility with their follower base. Creators’ earnings have gone up since the soft launch of gifting on the platform, and now the average earnings of top creators on the platform stand close to INR 90,000.
