Expect major consolidation among platforms & content production companies: Mautik Tolia

The rapid evolution in the Indian Media & Entertainment (M&E) industry, coupled with the rise of new distribution channels, has opened up numerous opportunities for media production companies to scale up their operations. Amid this dynamic landscape, companies like Bodhitree Multimedia are leading the way in innovating content strategies to meet changing viewer preferences.

In an insightful interaction with Adgully, Mautik Tolia, Founder and Director of Bodhitree Multimedia, shares the company’s vision for growth in the media industry. He discusses Bodhitree’s recent foray into media rights management, its approach to leveraging international content formats for Indian audiences, and the significance of regional content for driving expansion. Tolia also highlights key milestones, including the impressive 50% revenue growth and the launch of unique television shows like ‘Gudiya Rani’, while shedding light on the future trends in the Indian M&E landscape.

What are the latest developments at Bodhitree? Could you tell us more about the foray into media rights management business? What are the opportunities that you see and how does it align with the overall business goals of Bodhitree?

We feel that we can leverage our networks across the industry to bring about the connections between good content and platforms. We are forming partnerships, giving rise to cross-syndication opportunities for content across various platforms. We have a multi-platform approach, offering solutions to other producers for numerous ways of utilizing their IPs and getting the maximum possible monetization.

What are Bodhitree’s plans to grow its content business? What are the key criteria for doing shows? What are the strategic tie-ups that you have entered into to grow your content slate?

The plan to grow Bodhitree’s content business focuses on developing unique shows that resonate with viewers, like ‘Gone Game’ and ‘Class’. The team will also adapt some international formats while creating fresh, original content for multiple media channels.

How important is Bodhitree’s regional focus for its overall growth strategy? Could you elaborate on the various subsidiaries established for regional content?

The focus on regional content plays an important role in overall growth. With regional content becoming more popular, investing in local languages and stories helps reach a wider audience. The different subsidiaries created for each region make it easier to produce content that fits the tastes of local viewers. This focus on regional markets keeps things ahead, as more people are now choosing to watch content in their own language.

Bodhitree has adapted popular international shows for the Indian market with great success. How important are these formats for the success of OTT? Could you elaborate on your strategy to adapt global shows for Indian audiences?

International formats have contributed significantly to the early stages of OTT development in India as the demand for content far outstripped the supply at that time. Formats presented a faster way to turn around content and also ensured a certain quality threshold due to the tried-and-tested nature of content. We are always scoping out good formats across the world that can be adapted to the Indian audience. Our strategy has always focused on finding content that resonates with insights that work with Indian audiences – especially those with a strong base in relationships.

Bodhitree has reported a 50% revenue increase and an EBITDA margin of 14.23% for FY24. What have been the key drivers of this growth? Which markets have contributed the most to the company’s growth? 

A combination of television, OTT, and regional content has been pivotal in driving growth. The adoption of a de-risked strategy allows for a strong presence across multiple segments, enhancing the potential for expansion.

Could you tell us about the performance of the television portfolio? What are the recent show launches and how have they been received?

We recently launched our television show on Dangal – ‘Gudiya Rani’. This is an extremely clutter-breaking show for television and is garnering acclaim as well as ratings.

Going forward, what are your views on the growth of the Indian M&E industry over the next five years? What are the headwinds and tailwinds that you expect?

The M&E industry is going to go through a period of massive churn over the past few years. There will be major consolidation not only among platforms, but also within content production companies, and only large-scale companies will be able to withstand the upcoming challenges. The content production formats will also change, given the move towards non-linear streaming and also catering to shorter attention spans.

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