MUMBAI, India, May 10, 2024 /PRNewswire/ — Lytus Technologies Holdings PTV. Ltd. (the “Company”) (NASDAQ: LYT), a forward-thinking platform services entity with a strong track record of nurturing businesses at the forefront of technological innovation, today announced its launch of India’s leading audio streaming platform – Radio Room. The launch of Radio Room significantly enhances Lytus’s position in the fast-growing digital entertainment market.
Under Lytus’ leadership, Radio Room will offer an array of audio dramas that encompass a variety of genres such as classic literature, crime thrillers, romance, and children’s stories, all tailored for the Indian diaspora worldwide. Radio Room is poised to become a pivotal player in the audio streaming sector, which delivers content directly over the internet to consumers (‘over-the-top’ or OTT), bypassing traditional distribution.
Dharmesh Pandya, CEO of Lytus, stated, “Launching Radio Room underscores our mission to leverage cutting-edge technology to enhance user experiences. We are confident that our acquisition of Radio Room will redefine the audio OTT landscape and transform how audiences connect with audio content. Radio Room is set to become a global leader in this burgeoning space.”
Alagappan Venkatachalam, Managing Director of Radio Room, remarked on the resultant synergies: “Lytus’ strategic support, large user base, and industry expertise will enable Radio Room to fundamentally transform the audio OTT space, offering a rich tapestry of engaging content that resonates with listeners worldwide.”
Lytus plans to rapidly scale up operations of the newly acquired platform, targeting four million subscribers in its first year. By leveraging Lytus’ existing customer base, Radio Room is poised to accelerate its growth and extend its reach across numerous Indian regional languages, including Tamil, Telugu, Kannada, Malayalam, and Eezha Tamil. Additionally, efforts are underway to expand into other regional Indian languages such as Marathi and Bengali, as well as international languages like Spanish, Portuguese, and German.
The Radio Room launch marks Lytus’ strategic entry into the audio OTT market, setting the stage for a transformative shift in how audiences engage with digital content. With plans to diversify into original film and television content in various Indian languages, Lytus is well-positioned to become a powerhouse in global digital entertainment.
About Lytus:
Lytus is a dynamic platform services entity dedicated to driving technological evolution and empowering businesses to thrive in the digital age. Lytus build and invest in businesses that are committed to addressing the world’s most pressing challenges with unmatched creativity and determination, enhancing human experiences through the deployment of technology.
Leveraging its ever-growing captive base of 4 million customers/subscribers, we continuously innovate and roll out new sets of value-added services and products. This existing customer base serves as a solid foundation upon which we continue to build, ensuring our offerings remain aligned with the evolving needs of our clients. With a focus on innovation and customer-centric solutions, Lytus continues to lead the way in delivering transformative technology services.
About Radio Room:
Radio Room, spearheaded by AL. Venkatachalam, is poised to revolutionize the audio OTT space by offering a captivating array of audio content tailored to Southern Indian and Srilankan Tamil audiences. From classic tales to contemporary stories, Radio Room promises an immersive and engaging entertainment experience for listeners of all ages.
Join Lytus and Radio Room on the journey to reshape the audio OTT landscape and set new benchmarks for digital storytelling excellence.
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