Contagious Online Media Network, parent company of the online video creator The Viral Fever (TVF), has raised $10 million in a round of funding from Tiger Global Management, reports the Financial Express. According to the report, Tiger Global has picked up 25% stake in the company.
Contagious Online Media, which was incorporated in August 2015, reported a profit of Rs 22 lakh on a revenue of Rs 64 lakh from August 3 to October 21. As of now, The Viral Fever has around 1.3 million subscribers on YouTube, up from 1 million in March last year.
Over the past couple of years the online video sector and web-exclusive content received a great degree of mainstream adoption, TV, other than AIB, has played a significant part in this change. TVF, which runs the YouTube channels TVF-Qtiyapa & TVF-RecycleBin, had also launched a movie streaming service called TVF Inbox Office in January last year.
Development in online video content services:
– Internet-based live streaming platform YuppTV partnered with NDTV to provide live digital content from four channels including NDTV India, NDTV 24×7 and NDTV Profit/Prime and NDTV Good Times.
– nexGTv tied-up with #fame to integrate its content on its streaming platform. As a part of the deal, #fame will create and premiere content exclusively on nexGTv before publishing it on other channels.
– Last month, nexGTv launched its first original TV show with Priyanka Chopra, called “it’s my city”. This was the company’s first shot at making original content for the web.
– Balaji Telefilms’ digital subsidiary ALT Digital said it would develop content in Hindi and English.
– In July 2015, Eros International said it would produce three original shows which will be streamed on its video on demand platform Eros Now.
– Hotstar, Star India’s streaming service, signed up comedy collective All India Bakchod for a news comedy series called “On Air with AIB”.