IS Josh good? | Josh layoffs | Reliance | Pavan Sathiraju
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Short-form video apps have seen massive growth in India in the last 2 years. Since TikTok got banned in India, the short-form video market is taken over by Indian apps such as Moj, MX TakaTak, Josh, Chingari, Tiki, and more. But recently two unusual developments have added excitement to the short-form video market. Reliance-backed app “Platform” is ready to go live in January and Josh has recently laid off 5% of its workforce or 150 employees.
On one hand, Reliance is investing in this space while the existing major player Josh is laying off employees. Why is it happening? What’s the reason behind these business decisions? To understand this we need to take a deeper look at the Short Form video market in India. This market is supposed to grow in the future as more people in India get their first smartphone and internet connection. Also, India is the youngest country in the world and most of the people who watch short-form videos online are between the age of 18-25. This means that there’s a huge market in India right for Online short-form videos and it is only going to grow in the future.
MX TakaTak's business plans have made the situation even more interesting with their recent merger with Moj App. This has created the largest audience merger which will now be under the same company ShareChat. Josh's layoff may make you think that the industry is in crisis but it seems like this crisis is mostly temporary. The best short video app in 2022 is hard to tell because all of these apps started off by imitating TikTok and are now struggling to create differentiation by building coolers in-app add-ons and more features for creator and platform monetization.
Moj VS MX TakaTak will no longer be a debate after their merger. But Moj VS Josh is still an interesting fight to see. Reliance trying to enter this space means that now there’s a big player with a lot of money to spare while others are cutting costs. Also, the new app by Reliance is supposed to offer better organic growth and also additional monetization features that the current apps have failed to accomplish.
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Chapters
0:10 - Josh Layoffs and Reliance Platform
0:50 - Why is this happening?
1:25 - MX TakaTak vs. Instagram Reels
2:07 - Why layoffs?
2:57 - MX TakaTak and Moj Merger
3:54 - Growth Estimates
4:48 - Revenue channels