Bengaluru-based video advertisement platform for Internet TV, Vidgyor has announced the $ 500K funding round from the seed-stage venture capital fund AngelPrime. The startup enables broadcasters to monetize live TV streaming on the Internet by replacing standard TV advertisements with personalized video ads. The funding will be utilized to expand Vidgyor's target user base, increase marketing efforts and further develop their technology.
Vidgyor was co-founded last year by Mahaboob Khan and Parth Desai who were earlier working in online video space and MNCs like Yahoo! & STMicroelectronics. The company is also one of the seven alumni of the fifth batch of startups from the Noida-based T-labs. At the moment, it has already signed up with leading broadcasters and aims to achieve a positive growth in the near future.
What problem is Vidgyor addressing?
Currently, Internet TV features the same ads, which run on broadcast TV. Video publishers are unable to monetize live TV streams delivered over Internet, as the advertiser has not paid for showing them online. On the other hand, advertisers are unable to reach out to the online audience who prefer watching TV over Internet through a mobile device.
Vidgyor enables broadcasters and content distributors monetize live TV streams delivered over internet by auto-detecting original broadcast TV ads and replacing them with different set of targeted mid-roll ads. The organization has developed a technology platform that can effectively provide incremental revenue through deployment of mid rolls. The solution integrates with no disruption to the current digital workflow and works with any Internet connected devices - be it Desktop, Mobile, Tablets IP Set-Top Boxes etc. It also seamlessly works with any CDN, Video Player, or Encoder.
Bala Parthasarathy, Managing Partner, AngelPrime believes that personalized advertising for live TV over Internet has largely been an untapped market in the country and Vidgyor aims to address this effectively.
How does the platform benefit advertisers and users?
Vidgyor enables personalized ad targeting and provides high quality user experience to the end user. Advertisers also benefit more from this model, as they will now be able to reach out to the right audience and user base. The Vidgyor platform can integrate with any VAST compliant video ad network and also provides a dashboard to track revenue and manage campaigns in real-time. Vidgyor claims that its solution can help increase video publisher's inventory by 5X to 10X on Live TV feeds across devices thereby increasing scope for monetization.
Vidgyor’s innovative solution has enabled IndiaTV to generate revenue from our Live TV streams. We are exploring synergies to use the solution with our global content distributors.