Politics · India Bureau
Hornbill, NBCUniversal invest $80 million in India's mobile drama platform EloElo
The funding round positions EloElo, owned by The Story TV, to expand its portfolio of original short-form content and accelerate artificial intelligence-driven production capabilities. The platform is also eyeing international expansion into the US market.
LSN India ·
EloElo has secured $80 million in fresh funding from Hornbill and NBCUniversal, marking a significant vote of confidence in India's mobile-first entertainment sector. The investment will enable the platform to scale operations and deepen its presence in the rapidly growing market for smartphone-based drama series.
The Story TV, which owns EloElo, plans to leverage the capital to produce more original shows tailored for mobile audiences. The platform has built a substantial user base by focusing on short-form episodic content designed specifically for consumption on phones, addressing viewing preferences that differ from traditional television and streaming services.
Beyond content production, EloElo intends to integrate advanced artificial intelligence tools into its creative and production workflows. These capabilities are expected to streamline production processes, reduce costs, and enable faster content development cycles to meet rising demand from viewers.
The investment also signals EloElo's ambitions to expand geographically. The platform is strategizing entry into the United States market, where short-form mobile content has gained traction among younger audiences. The backing from NBCUniversal, a major global media conglomerate, provides both financial resources and distribution expertise for international expansion.