Voot is a popular Indian subscription video-on-demand service. It was launched during the year 2016 and is headquartered in Mumbai, India. It is the online form of Viacom 18. Voot is Viacom 18’s platform for advertising and video on demand. Voot has its presence in India, and it hosts about 40,000 video content hours. It includes various shows form many channels like Nickelodeon, MTV, and Colors.
It has content in many languages like Tamil, Kannada, Marathi, Gujarati, Bengali, and Telugu. During the initial days of 2020, Voot has introduced a paid subscription service call the Voot Select. The original series of Voot are made available only to the paid subscribers. Some of the TV shows are streamed a day prior before it launches to TV for their paid subscribers.
The SWOT analysis of Voot differentiates all the main strengths, weaknesses, opportunities, and threats that give support to the company to increase its growth. Readout this article, to get an understanding of where Voot stands.
The SWOT analysis of Voot specifies the brand’s strengths in which the brand is good and what separates it from its competitors, its weakness that stops the brand from performing well and should focus on to improve. It lists its opportunities that the brand can use to increase its market share and brand value. It also indicates the threat that the brand foresees and has the potential to harm the brand.
To make sure that Voot meets the long-term competitive advantage, it must address the various concerns highlighted in the SWOT analysis of Voot.
Let us discuss on the SWOT analysis of Voot.
Strengths
1. Strong Brand Name
Voot has a strong brand name, and many customers much opt it. Voot has almost 35,000 hours of excellent and exciting content for various audiences who have varied preferences and choices. Voot having a good brand name is indeed an excellent strength for the brand.
2. Voot’s Excellent Features
Voot being a video-on-demand service, provides many services and has excellent features. Its features are
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- Chromecast Support – This feature allows users to cast their favourite shows directly into your chosen screen.
- Channel-wise Discovery – This feature allows users to select to view shows based on the preference of the user’s channel. It could vary from Colors to Nickelodeon, to MTV, and many more.
- Language and Category Sorting – This feature allows users to filter the various shows based on category and language.
- Choosing Video Quality – This feature has carefully designed modes that include toggling between based on your data plans like data saving, auto, and high quality.
- Voot Originals – This feature allows the users to catch the best originals by the platform in one place. Fresh content in from of the viewers.
3. Large Customer Base
Voot has a large customer base, and this is a leading strength for the brand. Voot customer base enjoys its feature, and its customer base spans across the country.
4. Culture
Voot connects in the world of connected screens maintains an influential culture of process and various innovation of products. Voot’s top management supports creative and innovative ideas. Employees are encouraged to contribute to the different problem-solving process.
5. Production Scale
Voot has a large production scale that helps the company to get the benefits of the sale economy. A large range of production would increase the company’s competitive strength. This would also enable the company to create good quality products at a nominal price.
6. Good financial health
Having been in the industry for the past four years, Voot has a strong financial backup. This is a leading strength for the brand because it can venture into any new products for its growth.
Weaknesses
1. Poor Customer Service
Voot has a significant weakness in not providing good customer service. This has been a point that would hit Voot’s reputation. While the brand has poor customer service, it would hit on the customer base strongly.
This is indeed a parameter when the company should work on it before it loses its reputation to the customer.
2. Lack of flexibility in the supply chain
Voot sees a significant challenge in its supply chain. It does not have a flexible supply chain process. This is also a weakness for the brand as when the supply chain is not proper; it might lead to confusion of the entire system.
Opportunities
1. Increase in the customer base
The company sees more opportunities in the market on increasing its customer base. So, Voot should find out new marketing strategies to expand its customer base.
The brand can enter various social media platforms to build its brand awareness, thereby leading to increase customer base. When the customer base grows, the revenue of the brand also increases.
2. Collaboration with local players
Voot sees a significant opportunity of getting tied with local players to increase its service. When expanding its reach to many people with the help of local players coupled with an increase in its services, Voot sees a huge opportunity.
Its overall customer base increases along with its facilities that would keep the brand on the top.
3. High-end products
Voot should venture into providing high-end products which are of the current trend. So, it should always keep its services up to date to meet the current trend in the industry.
4. Less of New Entrants
There is less of a new entrant in this industry due to the strict government regulations. Due to the strict rules, the new entrants are less and thereby seeing a massive opportunity for Voot to flourish in the market.
Threats
1. Criticism by environment protection groups
There is growing criticism by the environment protection groups. This is a severe threat to the brand and would affect its reputation.
2. Piracy
This brand sees a threat in digital piracy. It is more impacted when people across the country try to download online media content. This is a significant threat to the brand a would impact its reputation.
3. Competitors
Many such videos on-demand service companies exist, and this is a significant threat to the brand. Having many companies in such an industry would attract customers to other platforms. Also, customers would have a variety of platforms to go in for. Voot might find it tough to get new customers and to retain the existing one.
Conclusion
The SWOT analysis of Voot mentioned in this article has highlighted the main strengths of the brand that comes up from its brand name, its excellent features for the customers, having a large customer base, following a good culture for the service to the customer, having a production sale in place, and maintaining good financial health.
Its weakness is seen from its poor customer service, its lack to retain existing customers, and its lack of flexibility with regards to the supply chain. Its opportunities are seen on increasing its customer base, collaborating with local players, introducing high-end services and products, and having seen fewer entrant in this industry.
It sees a considerable threat from the criticism by the environment protection groups, piracy issues, and many competitors.
