iWorld
OTTplay launches quirky campaign to woo audiences across India
New Delhi: OTTplay has rolled out a new campaign ‘Maze Karo Multiply’, introducing a one-of-its-kind proposition for the fast-growing OTT audience in India.
The campaign takes inspiration from the power of content in bringing together & connecting people hailing from different cultures, backgrounds and demographics. The video ad focuses on the blockbuster content library, which includes availability of 20,000 shows and movies on OTTplay platform, coining the ‘Har Din Kucch Naya Dekho’ catchphrase.
OTTplay has introduced five curated subscription packs for the OTT audiences, from the ‘Power Play Pack’, which includes all 12 OTTs in one pack to the ‘Jhakaas Pack’ that offers ‘masaaledaar’ blockbuster Bollywood content. The other subscription packages include ‘Simply South Pack’ offering curated regional content, whereas the ‘Chota Pataka Pack’ and ‘Totally Sorted Pack’ brings together an assorted mix of Premium OTT platforms. With these packs starting at Rs 50 per month, the nominal pricing provides access to around 65,000 titles, which are currently available to stream on the OTTplay platform with ultra HD streaming quality.
Talking about the #MazeKaroMultiply campaign, OTTplay co-founder & CEO Avinash Mudaliar, “We are delighted to announce the launch of our inaugural ad campaign, as we introduce the brand’s ‘Maze Karo Multiply’ positioning to OTT audiences across India in a quirky way. As category-creators, we strive to provide an exceptionally personalised viewing experience to our subscribers, by enabling audiences to consume relevant content from across genres, languages and platforms. Further, our extensive content library provides subscribers with world-class movies, web series and shows to consume basis their distinctive moods.”
iWorld
Snapchat parent Snap cuts 16 per cent of workforce in AI-driven restructuring
The Snapchat parent is axing around 1,000 jobs and closing 300 open roles to save $500m, as artificial intelligence makes smaller teams the new normal
CALIFORNIA: Snap is snapping. The Snapchat parent has confirmed plans to cut around 1,000 employees, roughly 16 per cent of its full-time workforce, as it bets that artificial intelligence can do what headcount once required. Shares jumped more than 10 per cent in premarket trading on the news, a brisk vote of confidence from a market that has watched the stock shed about 31 per cent this year.
The restructuring, which also closes more than 300 open roles, follows pressure from activist investor Irenic Capital Management, which holds an economic interest of about 2.5 per cent in the company and has been loudly pushing Snap to tighten its portfolio and lift performance. The firm got what it asked for, and then some.
Chief executive Evan Spiegel told employees the cuts would reduce annualised expenses by more than $500m by the second half of the year. The company expects to incur charges of between $95m and $130m related to the layoffs, mostly severance, with the bulk landing in the second quarter. Staff in Snap’s North America team were asked to work from home on the day of the announcement.
The financial backdrop is not without bright spots. Snap expects first-quarter revenue to rise around 12 per cent to approximately $1.53 billion, broadly in line with analyst estimates. Adjusted core profit for the January to March quarter is forecast at about $233m, comfortably ahead of Wall Street’s expectation of $186.8m.
The harder question surrounds Specs, Snap’s augmented reality smart glasses subsidiary, which Irenic has urged the company to spin off or shut down entirely. The unit has absorbed more than $3.5 billion in investment and burns through approximately $500m in cash annually. Snap is pressing ahead regardless, with a consumer product expected later this year, even as Meta leads the market in the segment.
Spiegel is betting that leaner teams, smarter machines and a consumer AR play can restore Snap’s credibility with investors who have run out of patience. The redundancy notices have gone out. The harder restructuring, the one that requires a hit product rather than a headcount reduction, is still very much pending.
