Loco, an esports and live game streaming platform, has introduced a VIP program in a bid to enhance monetisation opportunities for the platform.
The VIP program starting at Rs 20 offers ad-free content, exclusive invites to on-ground events, among others.
The platform expects the VIP loyalty program to boost the number of paying users. "We believe that the VIP program will be a key catalyst for transactions on the platform and therefore, create a sustainable financial model for creators in the country," said Anirudh Pandita, Founder, Loco.
The company is expecting paying users in the range of 1-5 lakh in the short term and one million by next year.
Also read: Loco launches Legends, an NFT platform for esports
The launch of the program has led to a 50 percent increase in watch hours and 10x growth of on-platform transactions, the company said.
After the launch of the VIP program, the platform has seen a daily average revenue per user (ARPU) of Rs 150, a 50 percent retention among users.
The platform has over 60 million users, over 10 million monthly active users (MAUs) and more than two-three million daily active users (DAUs).
"There are content streams which cannot always be monetised through advertising. While the big creators benefit from ad, small and mid creators miss that opportunity. Here the transaction model comes into play," said Pandita.
The company for a boost in revenue is also betting big on the return of two of the biggest games--- Free Fire and Battlegrounds Mobile India (BGMI).
Also read: Uncertainty around BGMI ban plays spoilsport for e-sports industry
Pandita said that just before the games got banned in India, the company had plans to launch advertising product last year. "The fanbase is very large. for the two games. These two games coming back is a big bonus," he said.
Loco which was part of Pocket Aces, the digital entertainment company behind content titles like Little Things, became a separate entity in 2021.
Also read: Homegrown game streaming platform Loco raises $9 million
"We spun Loco as a new firm in 2021 with a $9 million seed round by Krafton, Lumikai, a gaming fund and others. Last year we raised $42 million in Series A. Loco also has investors like Peak XV Partners (formerly Sequoia Capital India & SEA) who are also part of Pocket Aces," the founder said.
Also read: Saregama buys 51.8% in 'Little Things' maker Pocket Aces for Rs 174 crore
Recently, music label firm Saregama acquired stakes in Pocket Aces. "We were looking for liquidity for investors. We were looking for a partner and we found that partner in Saregama. We had split Pocket Aces and Loco in different two entities with the two companies having a different shareholder base while, the legacy investors are the same. In 2021, Ashwin and I joined Loco and Aditi Shrivastava is with Pocket Aces and that will continue. Ashwin and I are selling our holdings and so are some of our other shareholders," Pandita said.
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