With nearly 450 million internet users in India, the country is all set to witness the digital content revolution in 2017. The exploded adoption of mobile and internet, along with the availability of information on people’s fingertips have given wings to the internet content industry and digital advertising industry in India.
The consumption of data in India is all time high nowadays and mobile adoption is playing an instrumental role. According to a recent CISCO report, mobile data traffic in India is estimated to increase by 7-folds by 2021. While much of this growth would be driven by IoT, smartphone and machine to machine solution, internet content consumption will also account for the sizable share.
Among Text, Audio and Video content, which is being consumed on the internet in India, video is the fastest growing type of digital content. The advent of 4G and promising future of 5G has boosted the moral of publishers who are betting big time on video content strategy. And, why no, Video content consumption is skyrocketing with each passing month; mix it with mobile, it is the fastest growing content type on the internet in India. Cisco report also highlights the pattern estimating mobile video content consumption will grow by 11.7 folds from 2016 and 2021, with a CAGR of 65%.
Sensing a great potential in Digital content space, the internet is flooded with websites that are aggressively indulged in creating popular ad viral internet content in a bid to capture the largest chunk of the pie. While many have been fairing well, there are very few who are have been effectively engaging a large portion of the internet population in India. And, Wittyfeed is one of those few online content properties!
The startup that won the ‘Fastest Growing Company in IT Sector’ award by All India Achiever’s Foundation in its first year of inception itself is already going places. Being as one of the fastest growing content publications on the internet in India, Wittyfeed has been accumulating invaluable data on daily basis. Last week, as part of our weekly D’Dialog Series, we reached to Vinay Singhal, Co-founder and CEO – WittyFeed, to enlighten ourselves with growth drivers, industry trends to succeed, consumers’ behaviour and take away few actionable insights.
Vinay didn’t shy away from taking few though questions straight. What impressed us the most was his instinct to grow, openness and willingness to educate the thriving players about his secret sauce to success.
Q: How do you see the growth of online content consumption in India?
The content consumption platforms are changing dynamically from print to digital. The revolutionary debut of ‘Jio 4G’ has enormously increased the reach of the internet in India which has triggered the growth of online content consumers as well. Approximately, 130 million new users have already started using the web, and they’re consuming the content in vast quantity
Q: Entertainment is the most popular content category in online space in India. Do you think online content properties, like WittyFeed, are making the most of it or leaving something behind on the table?
Undoubtedly, Entertainment is one of the most viewed categories in online space, as this genre is very broad in itself. According to Comscore.com, WittyFeed ranks 3rd as the most visited website in India in Entertainment category. However, WittyFeed is not just about entertainment content; it is more than that. We’re creating content in almost all the major categories like Entertainment, Politics, and Sports.
We’re evolving and changing our systems every day to build an innovative content platform to provide online users with more engaging and informational content as per their taste. Like, we’ve innovated “Ever Wondered Why” series under WittyFeed Trademark Content (WTC) category, and major websites in India now follow it.
Q: What are some of the biggest challenges you foresee in online content space?
The content industry is ever changing, and one of the biggest challenges that we face while operating is the maintenance of the balance between efficiency and scaling up. As our teams are increasing day by day, it takes some time to train new members according to our requirements. Apparently, when publishers try to expand content creation, inefficiency starts to sink in
Q: Can you enlighten us with some of the interesting content consumption patterns in India?
In last one year, we have observed that Indian people want to read more about Entertainment, Health & Fitness, Celebrity Gossips, and News.
Also, among half a billion users who visited WittyFeed in the last 15 months; 10% of the visitors read content through a Desktop or Laptop, while the 90% of them used their smartphones to access WittyFeed content. Our readers who’re reading content on cell phones give almost 3 page views on an average.
Average time spent on the website is around 2 minutes. Among these, approximately 5 million users have spent more than 30 minutes on WittyFeed.
Q: The effect of exploded adoption of high-speed mobile internet, thanks to Jio, on video content consumption in India
Exactly! As I have mentioned before, the revolutionary debut of ‘Jio 4G’ has increased approximately 130 million Internet users in India.
Most of these users are experiencing the online world for the firs time, and they are amazed to have the privilege to consume content which matches to their interest and likes.Unlike, regular newspaper or television.
And the best example for this could be, my mom and dad. They spend more time on sites like WittyFeed and Youtube than any youngster would spend. Every generation of our country is coping up with this change really fast.
Q: Why the traditional media still supersedes internet media, in terms of revenue or advertising cost despite internet media being more promising platform and guarantees far better ROI to brands?
What we have understood after working with thousands of campaigns with brands is that traditional newspaper and television are in the market for more than a decade now, while the internet penetration started just a few years ago. It takes some time to build a brand perception and trust. As advertisement is all about creating a brand perception, it may take little more time to ensure that advertisers spend more on digital media than the traditional one.