Gaming is the new buzzword online and is the fastest growing segment for SHAREit in India
SHAREit, a Chinese firm, which started in India as a sharing app in offline medium, plans to become a content platform ranging from streaming movies to videos to latest world cup cricket matches to music, as it eyes a next level of growth in its fastest growing market.
A large part of its user base, around 70%, comes from small towns and areas while rest 30% comes from the big cities and towns.
Gaming is the new buzzword online and is the fastest growing segment for SHAREit in India. It has recently started this segment, as the company targets to translate its monthly active users into daily active users. It has brought in around 300-400 top world games onto its platform.
"Gaming is growing like crazy. In India, if you look from the content consumption perspective, the average gamer would spend three to five hours on sharing per week while video consumption would be in minutes, which is quite very miniscule compared to gaming ," Karam Malhotra, CEO, SHAREit INDIA told DNA Money.
The app was founded in 2015 and till early 2018, it has been growing organically in India. The app downloads stand at around 400 million, but active users base is 200 million in India. And as more and more users are getting connected onto the internet, the company is changing itself in tune with change in times.
The app allows users to share applications, movies, videos etc with other users with or without using internet. It doesn't need a WIFI or a Bluetooth but creates its own network for sharing.
The app offers content in languages – Tamil, Telugu, Malayalam, Kannada, Hindi, Marathi, Punjabi and Bengali, apart from English.
Courtesy Reliance Jio, the new player in telecom space, which ushered in low data tariffs and free voice calls, SHAREit grew fastest in 2017.
"From 2018, we have become a lot more thoughtful about our journey, because India grew so big, so fast, all organically. And we grew fastest in an internet connected year, when RJio came. The office and a team in India was set up in 2018 , "he said.
We realised that as more and more people have access to internet, they download and consume more, which means there is so much more content and apps to share.
The company has agreements for content sharing with Hotstar, Juggernaut Books, Times Music and others. It also acquired FastFilmz, an OTT platform for south Indian movies. At the moment, all the services on the app are free. But, it has started monetising the app through advertisements since 2018.
Globally, SHAREit has over 1.8 billion users while the monthly active users has exceeded 500 million users with presence in more than 200 countries and regions around the world, operating in 45 different languages.
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