Admin Loco, a prominent esports and live game streaming platform, has recently unveiled its VIP program, aimed at bolstering the platform’s monetization avenues. This initiative offers users a range of benefits, starting at just Rs 20, including an ad-free viewing experience and exclusive invitations to in-person events, among other perks.
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The introduction of the VIP loyalty program is anticipated to drive an increase in the number of paying subscribers. Anirudh Pandita, the Founder of Loco, expressed optimism about the program’s potential impact, stating, “We believe that the VIP program will serve as a significant catalyst for financial transactions on the platform, thereby establishing a sustainable financial model for content creators in the country.”
In the short term, the company is setting its sights on acquiring between 100,000 and 500,000 paying users, with an ambitious goal of reaching one million by the following year. The launch of this program has already yielded promising results, with a remarkable 50 percent surge in watch hours and a tenfold increase in on-platform transactions, according to the company’s reports.
Since the introduction of the VIP program, the platform has achieved a daily average revenue per user (ARPU) of Rs 150, showcasing an impressive 50 percent user retention rate. As of now, Loco boasts a substantial user base, comprising over 60 million users, with more than 10 million monthly active users (MAUs) and a daily active user (DAU) count ranging from two to three million.
Pandita told “There are content streams which cannot always be monetised through advertising. While the big creators benefit from ad, small and mid creators miss that opportunity. Here the transaction model comes into play.”
In a bid to enhance its revenue, the company is placing substantial bets on the resurgence of two major games: Free Fire and Battlegrounds Mobile India (BGMI). Pandita highlighted that prior to the ban on these games in India, the company had intended to introduce an advertising product last year.
He told “The fanbase is very large. for the two games. These two games coming back is a big bonus.”
In 2021, Loco, previously under Pocket Aces, the digital entertainment company recognized for content such as Little Things, transitioned into an independent entity.
Anirudh told “We spun Loco as a new firm in 2021 with a $9 million seed round by Krafton, Lumikai, a gaming fund and others. Last year we raised $42 million in Series A. Loco also has investors like Peak XV Partners (formerly Sequoia Capital India & SEA) who are also part of Pocket Aces.”
Saregama, a music label company, acquired a shareholding in Pocket Aces.
Pandita also told “We were looking for liquidity for investors. We were looking for a partner and we found that partner in Saregama. We had split Pocket Aces and Loco in different two entities with the two companies having a different shareholder base while, the legacy investors are the same. In 2021, Ashwin and I joined Loco and Aditi Shrivastava is with Pocket Aces and that will continue. Ashwin and I are selling our holdings and so are some of our other shareholders.”
