NEW DELHI: Homegrown short-video platform Bolo Indya announced a new feature on Monday, aimed at filling the void left by erstwhile Chinese live streaming app, Bigo Live. The Indian platform will now offer a Bolo Live feature to its users, which is what the Bigo Live app was built on. The platform is also adding a gamified gifting option, where users can reward creators through virtual gifts, to show their support for them. Creators can get real money for the Bolo Coins they get from users, from the platform itself.
According to Bolo Indya, the platform currently has over 68 lakh users, which includes 28.50 lakhs creators. It supports 14 languages and plans to grow its creator base by 300% by December 2021. Bigo Live, on the other hand, had over 22 million monthly active users in India, before it was banned by the government. With the government unlikely to lift its ban anytime soon, the Bolo Live feature could help fuel the platform’s growth.
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The digital gifts, which users will be able to send creators during live streams, will range from Rs10-500. Premium gifts for special occasions will be priced as high as Rs1,000. The company sells Bolo Coins on its platform, which act as digital currency for buying these gifts.
The company has been testing the feature for a while now and says its most popular categories include entertainment, fitness, comedy, and fashion and lifestyle right now. Average transaction size during live sessions starts at Rs20-25 and the company says there are over 100 micro transactions happening per session right now.
The company said creators’ earnings on the platform average at Rs90,000 per month for top creators. The new features should open another avenue for monetisation.