The founders believe short videos will be the dominant form of news consumption because it offers a far greater immersive experience than text
Nyusu, a one-minute video news app launched recently by two seasoned Indian journalists, is looking to expand to overseas markets, including Indonesia and Bangladesh in Asia, as well as Africa.
Nyusu, a product of Bangalore-based NyusuDigital Media, is also in talks with a few VC investors to raise “significant capital” for growth.
“(The expansion to) Bangladesh (is) for (the) proximity and similarity of consumer needs, and Indonesia because it is another vibrant emerging market with rapid advances in telecom. But these are only examples of near-shore markets. The bigger opportunity for us would be Africa and South America,” Nyusu Co-founder R Sridharan told e27.
The startup was incorporated in October last year by Sridharan, former Managing Director of ET NOW (a news channel from the house of Times Group) and HR Ranganath (Founder and Editor-in-Chief of regional news channel Public TV).
Nyusu is a multi-lingual video news app that “gives you unbiased views on the most important news stories of the day”. According to the company, its custom-made videos for smartphones cut through the clutter and offer balanced and insightful opinions.
“News will always remain important to consumers, but the nature of its delivery, format and consumption will change. Latency has made newspapers almost irrelevant, and now linearity is making television channels unfriendly. People want to consume content whenever and wherever they want. They don’t want to be tied down locationally or temporally for consuming any content. News providers have to adapt to that change,” said Sridharan.
“We believe short videos will be the dominant form of news consumption because it offers a far greater immersive experience than text, but also because in India a large population is still illiterate; text demands literacy, while video doesn’t,” he added.
Penetration of smartphones in India is growing exponentially. It is estimated that by 2017, India will be the second largest smartphone market in the world, ahead of the US. Already, there are 200 million Internet users in India and a majority of them access the Internet via their smartphone. But the problem is, there is a relative dearth of content, especially customised videos, for smartphone users in their local languages, he added.
“We expect local language content to witness an explosive growth going ahead,” Sridharan said.
The app is available in six regional Indian languages, including Hindi, Kannada, Malayalam, Tamil and Telugu, besides English. The startup is now looking to expand to other regional languages also.
At present, 40 journalists are working for the company.
“We are in early talks with a few VCs and investors and I am unable to divulge an exact number. But what I will say is that we are looking at a significant capital raising to fund our ambitious growth plans within and outside of India,” he concluded.
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