Moj-TakaTak merger: ‘Next few billion users can come from new local players’

Roughly two years ago, the exit of TikTok from India signalled the arrival of a host of homegrown short-form video platforms like Moj, Josh and TakaTak. And now, two of the biggest such platforms in India - ShareChat's Moj and MX Media's TakaTak - have joined hands to create the largest short-video platform for Indians.

While the two platforms will now be controlled by ShareChat, MX Media and its shareholders will become strategic shareholders of ShareChat. The combined platform will have 100 million creators, over 300 million Monthly Active Users (MAU), and nearly 250 billion monthly video views. But what will be the way forward for these two brands that were once competitors, what will the new entity be called and with ShareChat as the controlling company in the merger, what will it mean for brand TakaTak.

Karan Bedi, CEO, MX Media, in his first in-depth interview since the announcement on the big merger talks about all this and more.

The coming together of Moj and TakaTak can be called one of the biggest mergers in the short-form video space in India. How long will it require to take shape on the ground? And what will the new entity be called?

It's already taking shape. MX TakaTak will be part of ShareChat and MX Media, and its shareholders will become strategic shareholders in ShareChat.

With ShareChat being the controlling company here, what happens to brand TakaTak that has got significant popularity in the past couple of years? Will it lose its identity?

As you mentioned, TakaTak is a very popular brand and it will be around for some time.

Media reports are claiming it is a $700-million deal. In 2018, Times Internet acquired MX Player reportedly for Rs 1,000 crore and set up TakaTak in a short time. Was it always the plan to find an appropriate partner when the time comes to scale TakaTak further?

We think about new products for our users first. We saw this opportunity in July 2020 and understood the user need. As products and markets evolve, we are constantly analysing what will deliver maximum value for our users and shareholders.

In what way will you combine your strengths while creating this short-form video behemoth. What will it mean for the users and what kind of newer experiences will you bring for them?

There is a massive convergence emerging in content consumption formats. Users want to consume different kinds, lengths and intensities of content. This means that talent, stories and interactivity will translate across every different kind of platform. Learnings from both platforms will be combined to address gaps in user needs and many new experiences will emerge from this. The combined entity will have more than 100 million creators.

What will the merger mean for the short-form video industry, globally and locally? Who would you consider big competition, like the very popular Instagram Reels?

Globally, TikTok continues to reign supreme but there is ample room for local players, not just in SVF, but also in many media consumption categories. We have witnessed the first-ever historic decline in FB DAU last week. Netflix's struggles in many markets, including India, are well documented. This indicates that the next few billion users can come from new local players in every kind of media - be it OTT, Short Form Video and Gaming.