Left Menu
Development News Edition

Bolo Indya to enable 1 lakh creators to offer peer-to-peer commerce service

In May, the company had started testing 'Bolo Meets' feature that allows creator partners to deliver specialised skill-based services (like astrology, teaching languages or dance etc) to their followers for a fee.

PTI | New Delhi | Updated: 27-10-2020 14:03 IST | Created: 27-10-2020 13:52 IST
Bolo Indya to enable 1 lakh creators to offer peer-to-peer commerce service
Representative Image Image Credit: Pixabay

Bolo Indya on Tuesday said it aims to enable 1 lakh creators on its platform to offer peer-to-peer commerce service, a model that will bring in about Rs 6-7 crore in revenue for the short-video platform by December next year. In May, the company had started testing 'Bolo Meets' feature that allows creator partners to deliver specialised skill-based services (like astrology, teaching languages or dance etc) to their followers for a fee. Bolo Indya charges a small percentage of this as platform fee.

"We are committed to empowering content creators to monetise their content and follower base. Between May and September, we have 257 creators who are using Bolo Meets, and we expect to ramp this to 25,000 by March and 1 lakh by December next year," Bolo Indya founder and CEO Varun Saxena told PTI. He added that the feature will be enabled for creators only after they have touched a certain milestone in terms of viewership and following.

"With Bolo Meets, we will not only want to positively boost the financial independence of our creator partners but we will also want to help users on our platform to avail services, learn and grow with the creators," he said. Saxena said the sessions can be facilitated either through one-to-one private video chat room, or a group video session with a maximum of 10 people in one session. These video sessions can be availed by the users through micropayments to book the slots for their favourite creators' sessions. Popular categories for Bolo Meets include astrology, fitness, music, dance, instruments, comedy, personal finance, relationships, and mental wellness. Average ticket size for the sessions start from Rs 100 and goes up to Rs 5,000.

Bolo Indya has over 65 lakh users including 28 lakh creators, spread across 14 languages. The company intends to grow its user base to 1 crore by March and 5 crore by December 2021. Saxena said the company has already garnered Rs 35 lakh in revenue from Bolo Meets, and expects this number to touch Rs 1 crore by the end of the fiscal. "By December next year, Bolo Meets should help us clock Rs 6-7 crore in revenue," he added.

Over 25,000 video sessions have already been delivered in the five months post the service was activated amongst the highly engaged creators. Its top creator partners are already earning Rs 50,000-60,000 per month using Bolo Meets, Saxena said.


TRENDING

OPINION / BLOG / INTERVIEW

Turbulence surrounding tobacco control in Ghana

... ...

Smart healthcare: IoT redefining the way healthcare is delivered

As the world is embracing the new wave of digitalization triggered by the pandemic and the arrival of 5G, the adoption of IoT devices will further boom. With adoption set to soar, IoT security issues and other challenges cant be ignored any...

Refugee compassion and response: Ideas to mitigate disasters now and in their future

Their homeland becomes a forbidden territory for them and more likely than not, their journey to foreign soil is no less traumatizing, not to say deadly. It is crucial to help refugees live a life of dignity and purpose....

Inadequate water infrastructure causes a tidal wave of coronavirus in rural Alaska

... ...

Videos

Latest News

All India Taxi Union threatens to go on strike if demands of agitating farmers not met within 2 days

The All India Taxi Union on Monday threatened to go on strike if the demands of the farmers, protesting against the Centres new farm laws at different border points of the national capital, are not met within two days. President of the Unio...

Farmers continue to converge on Delhi borders to join protest against farm laws; Security stepped up

More protesters coverged near the borders of the national capital as the stir by farmers against the agri laws appeared to intensify, prompting the Delhi Police to enhance security and place concrete barriers at all entry points from Haryan...

IIM-Calcutta records 100 pc summer internship placements amid pandemic

Indian Institute of Management- Calcutta said on Monday that it has maintained the legacy of 100 per cent summer internship placements for the class of 2022, beating the economic crisis triggered by the COVID-19 pandemic. The whole process ...

UN chief calls for greater inclusion of persons with disabilities

The UN chief was addressing countries that are party to the 2006 Convention on the Rights of Persons with Disabilities, which he stressed can only be fully implemented by tackling the obstacles, injustices and discrimination that this pop...

Give Feedback