MyWay to invest Rs 400 crore to expand business
Posted by Sathish | Published on August 30th, 2010 | Comments 0
New Delhi: MyWay, the IPTV solutions provided by Smart Digivision is planning to ramp up its business in a big way and said it would invest around Rs 400 crore in the next three to four years to expand its business.
The company started its operations in 2007 but launched its services commercially only in July 2009 and has a customer base of around 20,000.
“We have already invested $25 million in this business and would pump in another $85 to$90 million in the next 3-4 years,” MyWay’s Director Mr. G. D Singh told Telenewz.
He said that the customers are not moving to IPTV platforms from the traditional TV-watching platforms because the current IPTV players do not have much differentiator from their cable or DTH counterparts.
“We feel, besides the quality of picture and sound, we need to offer more utility based applications to our customers on IPTV platforms to see the real change,” he added.
The company which has a broadband tie-up with BSNL and MTNL to make it a pan-India player is coming out with a plethora of applications to offer its customers.
“In the coming days our IPTV users would get to enjoy a host of utility services besides getting world class video and crystall clear audio,” MyWay’s Marketing Head Kapil Gupta said.
The IPTV player is planning to offer access to Gmail,Facebook, Twitter on their TV. It is also planning to offer railway ticket reservation facility through their TV set.
“We are already offering checking of your PNR status on your TV on our IPTV service, but very soon you can book your train tickets sitting comfortable on your sofa,” Gupta added.
It has also entered into partnerships with ICICI bank to facilitate internet banking through the IPTV platform.
“Just imagine, when you or you family members can use the TV just not for watching some programs but for accessing mail, various bill payments, ticket reservations, practising yoga the way you want, selecting pizzas and ordering it, the so called idiot box is going to be the smartest box around your home,” Mr. Singh said.
MyWay which has around 20,000 customers and gets ARPU of around Rs 200 hopes to achieve around 1 million customers by 2012 and 3 million by 2014.
“We hope to be EBITDA-positive by the end of 2012,” added Mr. G. D Singh
Source: Telenewz.com
