Paytm is reportedly looking to launch an online video-streaming platform in India. According to ET, the company is forming partnerships with content creators and has already begun the hiring process for the planned service.
According to a source quoted by the publication, “Paytm has been looking at this space (video service) for some time but it is only now that plans to set up a team are being formulated. The idea is to have multiple services, from wallet to shopping to video to attract more customers and boost engagement.”
It’s worth noting that the company already has content partnerships with SonyLIV, FunkYou, and YuppTV, but the new venture is believed to be a more full-fledged service, possibly making it a direct competitor to Netflix, Amazon Prime Video, Hotstar and more.