Marathi-language video-streaming platform Planet Marathi OTT has secured funds worth $5 million in a funding round led by a US-based private equity firm, A & MA Capital USA, becoming one of the largest investments ever received by the regional Indian entertainment industry.
The OTT platform expects this investment to grow further in the upcoming two quarters and has partnered with Dcafe, a media-tech company to enhance its technological operations, and content creation with the investments.
Planet Marathi OTT, as indicated by the name, is an exclusive entertainment platform for the Marathi Industry, founded in 2021 by Akshay Bardapurkar. Its content genres include romance, comedy, drama, politics, thriller, satire and crime. It claims to be the largest producer of Marathi entertainment content amongst OTT platforms, with some of its popular shows including Raanbaazaar and Goshta Eka Paithanichi.
“We are committed to growing the Indian regional entertainment space, and with this significant investment, we are prepared to bolster our offerings and content slate. As a company, we stay dedicated to bringing the best quality entertainment on OTT, and with our new partners, we will take this dedication to newer heights,” said Akshay Bardapurkar.
The share of vernacular content is 30% currently which is expected to grow up to 55% in coming times as per the Ficci and EY media reports. The regional content production cost too is expected to become 40-50% which is 30% currently. Hyperlocal platforms such as Planet Marathi OTT benefit from catering to a region-specific target audience as they have time to evaluate the OTT market and expand strategically.
