QYOU Media Inc (TSXV: QYOU) this morning provided the market with an update related to its ongoing partnership with Chingari, an India-based app that is a direct competitor to TikTok. After having launched on the platform less than two months ago, QYOU’s flagship channel, The Q India, is now set to begin monetization on the platform in the current quarter.
Chingari has grown to over 45 million users within India following the banning of TikTok in June 2020, and serves as a significant distribution channel for The Q. Given that the target audience of the app is persons in the age range of 14 to 34, the platform has a target audience that mirrors that of The Q.
The platform has grown to remarkable engagement levels as well, with a daily average viewer engagement time of 59 minutes, and an average of nearly 100 million videos viewed each day. As a result, The Q’s ad-supported channel is expected to do well upon the commencement of monetization.
“We continue to see huge growth in users and engagement. @theqofficial has clearly caught on with our users and we look forward to working together to find new ways to connect our users with brands and transactional opportunities.”Deepak Salvi, Co-founder and COO of Chingari
QYOU Media last traded at $0.125 on the TSX Venture.
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