[HYPE x 500 Startups] Crash Course on Market Expansion
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This document provides guidance on market expansion for startups. It discusses why, when, where, and how to successfully expand into new markets. The key points are: consider expanding only if it aligns with your vision and objectives, and you have the resources to support expansion without putting the home market at risk. Prioritize large, growing markets with low barriers to entry where your product fit is a good match. When expanding, test critical assumptions cheaply, localize for the new market, and hire the right local team while aligning the new market with HQ.
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This presentation provides a thorough examination of Over-the-Top (OTT) platforms, focusing on their development and substantial influence on the entertainment industry, with a particular emphasis on the Indian market.We begin with an introduction to OTT platforms, defining them as streaming services that deliver content directly over the internet, bypassing traditional broadcast channels. These platforms offer a variety of content, including movies, TV shows, and original productions, allowing users to access content on-demand across multiple devices.The historical context covers the early days of streaming, starting with Netflix's inception in 1997 as a DVD rental service and its transition to streaming in 2007. The presentation also highlights India's television journey, from the launch of Doordarshan in 1959 to the introduction of Direct-to-Home (DTH) satellite television in 2000, which expanded viewing choices and set the stage for the rise of OTT platforms like Big Flix, Ditto TV, Sony LIV, Hotstar, and Netflix. The business models of OTT platforms are explored in detail. Subscription Video on Demand (SVOD) models, exemplified by Netflix and Amazon Prime Video, offer unlimited content access for a monthly fee. Transactional Video on Demand (TVOD) models, like iTunes and Sky Box Office, allow users to pay for individual pieces of content. Advertising-Based Video on Demand (AVOD) models, such as YouTube and Facebook Watch, provide free content supported by advertisements. Hybrid models combine elements of SVOD and AVOD, offering flexibility to cater to diverse audience preferences.
Content acquisition strategies are also discussed, highlighting the dual approach of purchasing broadcasting rights for existing films and TV shows and investing in original content production. This section underscores the importance of a robust content library in attracting and retaining subscribers.The presentation addresses the challenges faced by OTT platforms, including the unpredictability of content acquisition and audience preferences. It emphasizes the difficulty of balancing content investment with returns in a competitive market, the high costs associated with marketing, and the need for continuous innovation and adaptation to stay relevant.
The impact of OTT platforms on the Bollywood film industry is significant. The competition for viewers has led to a decrease in cinema ticket sales, affecting the revenue of Bollywood films that traditionally rely on theatrical releases. Additionally, OTT platforms now pay less for film rights due to the uncertain success of films in cinemas.
Looking ahead, the future of OTT in India appears promising. The market is expected to grow by 20% annually, reaching a value of ₹1200 billion by the end of the decade. The increasing availability of affordable smartphones and internet access will drive this growth, making OTT platforms a primary source of entertainment for many viewers.
Understanding User Needs and Satisfying Them
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Authentically Social by Corey Perlman - EO Puerto Rico
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[HYPE x 500 Startups] Crash Course on Market Expansion
- 1. A Crash Course on Market Expansion 500 Startups Insider
- 2. ● Senior Associate, HYPE ● Founders were GMs of Airbnb, Uber, Google etc.; as a team, we’ve helped Carousell, Homage, GOAT, Snapask etc. in their international expansion ● Spent >50% of time in past few years outside of SG: Bangkok, Jakarta, Penang, Kuala Lumpur ● Worked with 6 startups across Asia on market / product expansion (mix of strategy and operations) WHO AM I?
- 3. ● Why expand into a new market? ● When to expand? ● Which markets should I go into? ● How to succeed in the new market?
- 5. Competitors yet to dominate ● Not aligned to vision / objectives ● It is going to be costly ● It puts your home market at risk ● Competitors have a strong moat ● Consumers are different WHY NOT EXPAND? Alignment to vision & objectives You have a war-chest ready Found product-market fit in HQ Understand your consumers & opportunities Hence, when should you expand?
- 6. WHICH MARKETS SHOULD I GO INTO?
- 7. MARKET PRIORITISATION 1. Potential market size ● TAM + growth rate ● Any latent demand 2. Cost / operationalisation required ● Salaries, real estate, product localisation, finance, legal etc. ● Barriers of entry to overcome (e.g. licensing approvals, infrastructure) 3. Competitive landscape ● Market share and market saturation ● Value proposition, pricing 4. Synergies with HQ
- 8. HOW TO SUCCEED IN THE NEW MARKET?
- 9. OPERATING PRINCIPLES 1. Figure out what are your most critical assumptions and test them in the lightest, cheapest ways 2. Be adaptable and don’t underestimate localisation in the new market 3. Align and integrate HQ to new markets Hire the right team