VerSe Innovation: Content technology platform with a focus on local languages
Situation:
India is a diverse country in many aspects like food, flora and fauna, and Languages. Owing to the large number of languages used by people, it is difficult for locals from different states to communicate. However, with the rise of the English language throughout the world, Indians too have adopted the language for communication.
India has seen a rise in the consumption of content through various internet platforms. This is due to the rise in cheap internet service. However, most content platforms provide content in English with one or two Indian languages. This creates a gap between local content consumers and English content consumers.
Problems and implications:
Content platforms in India have been thriving due to the accessibility, cheap cost, and availability of internet services all over India. However, most internet platforms don’t provide content in Local languages. Hence, such platforms lose various local users.
1. Customer retention: Content platforms have managed to provide content suitable for a large number of people in India. Yet, it is noticed that customer retention is low due to the similar type of content being offered on various other platforms.
2. Additional language skills necessary: In most content platforms, additional language skills especially in English are required so that, the content can be consumed by people all over the world. For few creators in rural areas, it may be difficult to access and afford such language skills.
3. Irrelevant content: Other than content focused on a few relevant topics, other topics may not be understood by or important to people from other states or regions.
Need pay-offs:
Headquartered in Bangalore, the startup hub of India DailyHunt’s parent VerSe Innovation is thriving as one of the top 10 startups in the growth/late-stage deals in India. There are various content platforms; however, they don’t provide content in local languages or cater to the local environment. VerSe innovation is aiming to tap the untapped potential with local content based on local languages.
1. Gain new customers: With content offered in local languages, users comfortable with local languages can be gained. Moreover, with continuous offerings of content catered to locals, the audience can be retained.
2. More engagements: Using regional languages will help brand and content creators to get more user engagements and responses which can then be monetized.
3. Creator friendly: As local creators will be able to put their content without additional skills, such a platform offers many new opportunities for creators with language skills in local languages.
4. Trust: With localized content, the creators can ensure that their contents reach all the audience irrespective of their language. This creates an understanding among the customers of the commitment of the content creators towards spreading information/art etc. to all the people.