BIGO LIVE, a mobile broadcasting app developed by Singapore-based BIGO TECHNOLOGY PTE LTD, claims to have reached a pioneer position in the segment with nearly 1 million DAU (Daily Active Users) and aims to cross 20 lakh (2 million) by the end of this year.
The app allows users to live broadcast their talent and connect with their fans and other talented broadcasters as well as follow interesting broadcasters. It also offers users an opportunity to earn good amount of money, which makes BIGO LIVE an appealing platform for masses.
In an exclusive interview to Entrackr, BIGO LIVE, India head, Cai Zhuang said, “For 2018 we are focusing on increasing our DAU to 2 million plus and for same we are trying to refer to various concepts of mature broadcasting markets like China and other South Asian countries.”
The company plans to announce the introduction of HQ trivia, a question-answer game for users, where they stand a chance to win $1000-5000 every day, in February.
So far, the app claims to have over 200 million downloads across the globe.
Founded in 2014, BIGO LIVE entered the Indian market in April 2017. In last eight months, it boasts of 50 million registered users in India. It aims to achieve double of the figure by the end of 2018.
The app claims 70-80 percent market share in India (not including Facebook and Youtube). BIGO LIVE claims to be an app which is not just opening new doors to earn but also promoting the talent among users.
Meanwhile, the platform hogged limelight for airing obscene contents. Many users of the platform complaint of multiple thumbnails featuring objectionable images of women. To address this issue, BIGO LIVE said it has placed a team to monitor vulgar and obscene contents.
“There are two kinds of moderation punishment, class A, B, warning, and blacklist. Class A punishment is most strict and it’s permanent ban on those worst content. A penalty will be imposed in case of such occasion, like pornographic content, Drug-related content, Politics and religion-related content, smoking or drinking and so on,” said Zhuang. Bad nicknames, wrong avatars, and suspicious live content are not allowed on our platform, he added.
BIGO LIVE’s Business model
The company earns through virtual gifting, a process in which audience members can send pictographs, which can be converted into cash, to broadcasters. It also offers an opportunity to live streamers to earn rewards.
In India, the company revenue touched $2 million in 2017. “We aim to achieve $4 million in revenue this year,” added Zhuang. The company currently has a 50-member team in India and more than 900 members globally.
Challenges and Competitors
Educating people about the platform was a big challenge for BIGO LIVE. “India is a big country with diverse languages and culture it was quite difficult to make people understand that how people from different culture and region can build a community together,” he said.
Other than big players such as Facebook, Twitter, and Instagram, BIGO faces major competition is from live streaming apps such as Live.me and MEME LIVE. Last month, Live.me launched a live game show Quiz Biz.
Initially, BIGO LIVE acquired users through social platforms such as Google, Facebook, and Instagram.
Now, for scaling up business and reaching out to more people, BIGO is also recruiting influencers and other hosts by signing them as official broadcasters.
Opportunity in India
Live streaming industry is very new to India. With an increase in penetration of smartphones and 3G and 4G services in India, this industry is also taking up the shape and can be next big thing in coming years for new players.
At present, there are nearly 400 million smartphone users in the country. The Indian media, the entertainment industry is forecasted to grow at a compound annual growth rate (CAGR) of 13.9 per cent between 2016-21, to reach US$ 37.55 billion by 2021, as per the report of IBEF.
For reaching out to more interesting content, BIGO LIVE chose to act in the coming years. “We will be taking a leap in terms of increasing its reach and get more and more user-generated content on board for this BIGO LIVE is associating with various Movies, TV Channels, Entertainment platforms,” said Zhuang.
The live streaming platform is also partnering with few payment gateways in coming years, benefiting users in India for cashing in and out within the app.