Economy

Flipkart to launch video streaming service before Diwali

Flipkart to launch video streaming service before Diwali”

Flipkart said it has collaborated with several content platforms to offer a curated range of movies, shows and entertainment series called "Flipkart Videos", which it will look to monetise through ads. Unlike Amazon's Prime video service, Flipkart won't charge users for streaming and won't launch a separate application for these services, the spokeswoman said.

Flipkart is set to roll out a video streaming service according to media reports. The only difference between Flipkart Plus and Prime is that the latter offers video content as well, in addition to music. It will provide content to its Flipkart Plus users for free.

"We have rolled out the test in among 1% of our customers now and plan to take it to 100% of them in the next 20 days", she added. Flipkart Plus loyalty members can expect the video service to arrive in September.

The sources also explained that unlike Amazon Prime, Flipkart will not have original content but will aggregate content from producers. Flipkart shoppers can become members by amassing 300 "super coins", at a rate of 2 for every 100 rupees ($1.40) spent on its platform.

Homegrown ecommerce company Flipkart, owned by USA retailing giant Walmart, is revamping its app to get the next 100-200 million Indians to transact on its platform.

India is about to get a new video streaming platform, thanks to Flipkart! Its videos drew more than five million people worldwide to shopping club by early 2017, according to company documents accessed by Reuters. Unlike Amazon's Prime Video, Flipkart's streaming service would not be indulging in the production of original content, although that is the just the plan for the initial days. "This will empower them to make better purchase decisions by providing them with information that helps them research while shopping and also helps them discover new products", Jeyandran Venugopal, Head Consumer Experience and Platform at Flipkart, said.

Kalyan Krishnamurthy, Flipkart's CEO will have to watch out for competition in the video business, which is already cluttered. Targeting the next 100 million users is largely pegged as the next phase of growth for ecommerce firms, given that only 50 million of the Indian Internet economy's half a billion users have ever transacted online.



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