New Delhi: Audio streaming platforms are more and more podcasts to broaden the person base and ring within the subsequent part of progress.
Whereas podcast style is at a nascent stage in India, audio streaming companies say partnering with video streaming companies and publishers to adapt audio codecs of books and internet reveals will draw listeners.
Audible, an audio streaming platform owned by Amazon, as an example, has collaborated with The Viral Fever and Cube Media for his or her reveals. Executives stated it would assist them money in on reputation of current IPs however there are challenges on providing one thing new to customers as an audio narration of a video might not appeal to new customers.
“The audio format is exclusive and offers a transportable but immersive expertise to the listeners, providing a break from on- display screen leisure. Recognized IPs are a good way to interact with followers as storylines are new, concurrently permitting them to expertise magic of audio storytelling, apart from, encouraging their creativeness to construct tales,” stated Shailesh Sawlani, nation supervisor, India, Audible. Including a variation to the story (by way of an audio), helps construct on the love that the collection obtained and affords audiences an extension of what they’ve skilled until now, he stated.
The agency additionally launched books for James Bond collection like On line casino Royale and Dwell and Let Die in Hindi and is extra collaborations.
The corporate has seen 39% progress in listening hours in India prior to now 12 months, Karen Appathurai Wiggins, head of content material, Asia-Pacific, Audible, stated. The corporate has partnered with Penguin Random Home, Pan Macmillan, HarperCollins and Hachette, in addition to native publishers Srishti, Hind Yugm, Manjul, Rupa and Rajpal, and has entered into an settlement with digital storytelling platform, Pratilipi, to adapt their titles throughout genres like romance, horror, thriller and thriller for unique distribution, she stated.
“Even when a content material receives validation in a single format it could not assure that it’ll work for one more,” stated Amit Doshi, head, IVM podcasts, Pratilipi.
There are challenges contemplating that every medium is totally different and execution issues a fantastic deal, he added.
IVM, which was acquired by Pratilipi in 2020, is in numerous levels of talks on variations or companion items for audio.
The prices of acquisition can even differ from a few lakhs to a few crores relying on how huge an IP is. Due to this fact, platforms often want a revenue-sharing mannequin.
It is vital for audio companies to keep in mind that variations are nonetheless in an early stage and await validation from listeners, stated Ashu Behl, senior vice-president, content material and technique, Pocket FM, an audio collection platform. It’s speaking to writers to adapt their work for audio collection.
Whereas it could make sense to adapt current success tales, there are problems to IP possession and podcasts in India are but to ensure full monetization plans for acquisitions, stated Sreeraman Thiagarajan, chief govt officer, aawaz.com, a podcast and spoken-word community.
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