Los Angeles, April 27, 2021 (GLOBE NEWSWIRE) -- Lytus Technologies Holdings PTV. LTD. (“Lytus,” or the “Company”), a technology platform services company that offers content streaming/tele-casting and tele-medicine services with active users and business operations in the United States and India, today announced the development of its unique video streaming service LYTUS PLAY that will launch in 2021.
LYTUS PLAY is an over-the-top (“OTT”) video streaming service that will feature critically
acclaimed content from around the world, including movies, television series, documentaries in
many genres (history, crime, mystery, and biography), and exclusively created special
programming in health & wellness, food, fitness, yoga, and lifestyle. LYTUS PLAY will bring together worldwide movies and series, path-breaking documentaries and exclusive and proprietary life-improving programs on one platform.
LYTUS LIFE will be the dedicated health & lifestyle section in the platform that will stream five channels of life-improving programs. Subscribers will have the option to input their health goals and lifestyle preferences. LYTUS LIFE will create a bespoke viewing plan that includes health and wellness programming content to help achieve its subscribers' personalized health goals. Almost all of the popular linear video channels and content will be available in high definition.
Mr. Rajeev Kheror, Lytus Global CEO of OTT , stated: “We are excited to bring LYTUS
PLAY to our extensive customer base and to the rest of the world. LYTUS PLAY will launch in the United States and India simultaneously later this year. The United States is the largest OTT streaming market by revenue globally.1 At the same time, India is the fastest-growing OTT market globally, where Lytus already has a large user base.2 We believe our LYTUS PLAY offering will provide an unprecedented combination of global entertainment and lifestyle together, which presents a significant and compelling growth opportunity for Lytus while providing a beneficial service to our loyal customers and growing the Lytus family worldwide. ”
About Lytus Technologies Holdings Private Limited
Lytus Technologies Holdings PTV. LTD. (“Lytus”) is a growing platform services company primarily providing content streaming/tele-casting services with over eight (8) million active users3 located all across India. Our scope of business also covers tele-medicine services with local assistance through local health centers. Through our platform, our customers are connected via customer premises equipment (“CPE”) devices/set top boxes (“STBs”) and have access to multi-dimensional services including tele-medicine service.
Our customer base and expansive market presence position us to widen our portfolio of offerings. We have been focused on adopting and implementing technologies that can change the landscape of being a conventional streaming services provider.
With our acquisition of a majority stake of Global Health Sciences, Inc. (“GHSI”), we intend to benefit from India’s e-commerce boom and the recent tele-medicine regulation. The management of GHSI has many years of pioneering experience in tele-medicine in the USA, which we believe will help us create a profitable and sustainable business model with rapid growth prospects. We believe that our deep understanding and local expertise have enabled us to create solutions that address the needs and preferences of our consumers in the most comprehensive and efficient way. We believe our management possesses extensive local knowledge of the markets in which we operate, which we consider to be a key component of our success.
1https://www.statista.com/outlook/amo/media/tv-video/ott-video/united-states
3Calculation based upon approximately 1.8 million paid home subscribers, which based on industry standards translates to more than 8 million viewers on an average of 4.6 viewers per household in India. Source: United Nations, Department of Economic and Social Affairs, Population Division (2019) — Database on Household Size and Composition 2019. Available: https://population.un.org/Household/index.html#/countries/356
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Lytus Technologies Holdings Private Limited, and members of its management as well as the assumptions on which such statements are based. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
FOR FURTHER INFORMATION, please visit the company’s website at www.lytuscorp.com