Mitron TV aims to add 50 mn new users, introduces monetisation mechanism
Mitron TV aims to double its user base to 100 million over the
next six months as the Indian short-video firm introduces new monetisation
mechanisms for creators on the platform, a top company executive said.
The company, which has completed one year of operations, had seen
strong jump in user base after the Indian government last year banned a number
of apps with Chinese links, including Mitron TV's rival TikTok.
"It's been a very exciting journey in the first year, we more
than 50 million net installs (downloads) on the platform, organically. We
started as a two-member team last year, now we have more than 55 members,"
Mitron TV co-founder and CEO Shivank Agarwal told PTI.
He added that the company aims to have more than 100 million users
on the platform in the next six months.
About 22 per cent of the userbase are creators who have posted
more than two videos on the platform.
In June last year, the Indian government had banned 59 apps with
Chinese linkages, including TikTok.
Since the ban, several homegrown apps like Roposo, Chingari and
Josh (Dailyhunt) have seen significant growth in downloads and user signups on
their short video platforms.
Facebook-owned Instagram had also joined the race with Reels,
while YouTube pitched its India-first "Shorts" to fill the void
created after the TikTok ban.
Many of these companies have also raised millions of dollars in
funding to accelerate their growth plans.
Mitron TV has raised USD 5 million in funding from investors
including Nexus Venture Partners, 3one4 Capital and angel investors like Deep
Kalra (Make My Trip), Amrish Rau (Pine Labs), Jitendra Gupta (Jupiter Money)
among others.
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