PC: digital terminal
The dynamic realm of short video entertainment in India has witnessed significant shifts, with the recent merger of MX TakaTak and the pivot of Chingari, leading to the closure of Mitron TV. This consolidation has narrowed the field to two primary contenders, ShareChat’s Moj and VerSe’s Josh, with the latter emerging as a frontrunner in the segment.
While Moj’s parent company, ShareChat, has encountered challenges in scaling its short video platform and securing subsequent funding, Josh stands out for its robust financial backing and leading market position, boasting an impressive user base of approximately 180 million active users.
A spokesperson for Josh revealed, “We have garnered a monthly active user base of 179 million, with 91 million users engaging with the platform daily. By the conclusion of FY24, we had amassed over 150 million downloads via the Play Store.”
One of the key factors driving Josh’s success lies in its availability in 12 Indian languages, with more than 80% of its content consumed in local dialects. This localization strategy has resonated particularly well with users hailing from tier II and III cities like Bhubaneswar, Jaipur, Patna, and Raipur, who form a significant portion of Josh’s user base.
A pivotal element contributing to Josh’s growth trajectory is its strategic OEM partnerships, through which it has secured a substantial portion of its downloads. Collaborations with major smartphone manufacturers such as Vivo, Oppo, Xiaomi, and Samsung have played a crucial role in expanding Josh’s reach and accessibility.
Furthermore, Josh’s creator-centric approach has been instrumental in fostering a vibrant ecosystem on the platform. With a community of over 100,000 creators and partnerships with 14 prominent music labels, Josh has witnessed a 34% year-on-year increase in its monthly active creator base, reaching 71 million in FY24. The platform’s emphasis on collaboration is evident through initiatives like Collab, aimed at leveraging the influencer ecosystem for mutual growth and engagement.
After focusing on building traction for over two years, Josh ventured into monetization by opening its platform to brands for campaigns in the latter half of 2023. Presently, Josh offers a range of advertising solutions, including video ads, influencer-brand collaborations, and content-led IPs, catering to diverse marketing needs such as brand building, lead generation, and user engagement.
With partnerships with 450 brands, including industry giants like Amazon, Myntra, Nykaa, and Xiaomi, Josh has strategically positioned itself as a preferred platform for businesses seeking to enhance their presence and engagement, particularly in tier II markets and regional languages.
Looking ahead, Josh is exploring innovative monetization avenues such as live commerce, audio stories, and brand shoppable commerce to diversify its revenue streams and drive profitability. The platform’s live audio feature facilitates real-time interactions between users and creators, while subscription-based audio stories in regional languages present a promising long-term opportunity for engagement and monetization.
With a reported average revenue run rate of Rs 300 crore this quarter and a target to achieve break-even by the first half of 2025, Josh is poised to consolidate its leadership in the Bharat-focused short video entertainment space and capitalize on the market vacuum left by TikTok in India.
