mumbai, india, May 10, 2024 /PRNewswire/ — Lytus Technologies Holdings PTV. Ltd. (the “Company”) (NASDAQ: LYT), a leading platform services business with a strong track record of growing businesses at the forefront of technological innovation, today announced that indian Leading audio streaming platform – Radio Room. The launch of Radio Room significantly strengthens Lytus' position in the rapidly growing digital entertainment market.
Under Lytus' leadership, Radio Room will offer an array of audio dramas spanning a variety of genres tailored to the global Indian diaspora, including classic literature, crime thrillers, romance, and fairy tales. Radio Room is poised to become a pivotal player in the audio streaming sector, bypassing traditional distribution and delivering content directly to consumers over the internet ('over-the-top' or OTT).
Dharmesh PandyaCEO of Lytus“The launch of Radio Room underscores our mission to leverage cutting-edge technology to improve the user experience.The acquisition of Radio Room redefines the audio OTT landscape, helping viewers We believe Radio Room will transform the way you connect with audio content.” Become a global leader in this fast-growing field. ”
Alagappan VenkatachalamManaging Director of Radio Roomdescribes the resulting synergy: “With Lytus' strategic support, large user base, and industry expertise, Radio Room is poised to fundamentally transform the audio OTT space, delivering a rich tapestry of engaging content that will resonate with listeners around the world. You will be able to do it.”
Lytus plans to rapidly expand its newly acquired platform's operations, targeting 4 million subscribers in the first year. By leveraging Lytus' existing customer base, Radio Room will accelerate its growth and expand its reach into numerous Indian regional languages including Tamil, Telugu, Kannada, Malayalam and Isa-Tamil i am ready. Additionally, efforts are underway to expand to other regional languages of India such as Marathi and Bengali, as well as international languages such as Spanish, Portuguese, and German.
The launch of Radio Room marks Lytus' strategic entry into the audio OTT market and sets the stage for a major shift in the way viewers engage with digital content. Lytus plans to diversify into original film and television content in various Indian languages and is well-positioned to become a global digital entertainment powerhouse.
About Liteas:
Lytus is a dynamic platform services entity dedicated to driving technology evolution and growing businesses in the digital age. Lytus builds and invests in businesses that address the world's most pressing challenges with unparalleled creativity and determination, and are committed to improving the human experience through the deployment of technology.
Leveraging our growing captive base of 4 million customers/subscribers, we continually innovate and roll out new sets of value-added services and products. This existing customer base serves as a solid foundation on which we will continue to build, ensuring that our services meet the ever-evolving needs of our customers. Lytus continues to lead the way in providing innovative technology services with a focus on innovation and customer-centric solutions.
About the radio room:
Radio room led by AL. Venkatachalam is set to revolutionize the audio OTT space by offering engaging audio content tailored to the South Indian and Sri Lankan Tamil audience. From classic tales to contemporary tales, Radio Room promises an immersive and engaging entertainment experience for listeners of all ages.
Join Lytus and Radio Room on their journey to reshape the audio OTT landscape and set new standards for great digital storytelling.
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