Hostar, AltBalaji, Gaana, Wynk mop up over Rs 3k crore from parent cos in 2 years

A clutch of four over-the-top (OTT) players are understood to have mopped up about `3,084.7 crore collectively in funding from their parent companies in the last two years. Hotstar received funding to the tune of `1,749.3 crore in 2017-18 from Star India and Star US Holdings Subsidiary, data sourced from business signals platform paper.vc showed. AltBalaji, the OTT platform owned by Balaji Telefilms, got `300 crore in funding from its parent in 2017-18.

Audio OTT platform Gaana, which claims to have 100 million users in the country, received close to `1,000 crore in funding from parent Times Internet and Aceville Pte in 2018 while Bharti Airtel-owned Wynk received `35.4 crore from Nettle Infrastructure Investments, a wholly-owned subsidiary of the company, in March 2018.