MUMBAI: Even as many a player is rushing into the video streaming platform space, here’s one which is stepping into audio streaming. Called Eshtory, it is founded by former MyFM CEO Harrish Bhatia, radio vet Viplove Gupte, and sales vet Nilesh Kadam. At some stage or the other the trio was employed at MyFM, which was a part of the Dainik Bhaskar group.
Funding has come their way through strategic investments from Abhijit Realtors founder Abhijit Majumdar and Radio Orange CEO Inu Majumdar, who has also taken on the position of chairperson of OrangeGlobal Stories, the firm behind Eshtory.
Eshtory’s logo was unveiled by minister for road transport and highways Nitin Gadkari in Nagpur recently. Scheduled for launch in January 2025, the app promises to offer listeners a seamless and immersive experience with original, high-quality, compelling narratives. Beyond entertainment, the platform will serve as a hub for homegrown storytellers, showcasing regional tales to global audiences and fostering a vibrant ecosystem of creative talent, says the company.
OrangeGlobal Stories co-founder Bhatia pointed out that the team is not just building a platform, it is flagging off a movement. He expounded: “We are united by a shared vision to celebrate the boundless power of imagination and creativity. In a fast-paced world, stories have the power to inspire, entertain, and connect. Through Eshtory our mission is to transform storytelling into an immersive experience, delivering original fiction that resonates across cultures and geographies. We aim to redefine how stories are told and experienced. We aim to bring voices from every corner of the world to light, offering narratives that are original, fresh, and unforgettable.”
The company says it has kept aside a marketing and digital promotion war chest of $36 million to be spent over the next three years to build up its user base. This strategic allocation aims to enhance the platform’s reach and engagement via, large-scale brand awareness, advanced digital strategies, targeted ad campaigns and tailored content promotion.
They will need all the muscle power they can muster. The Indian audio streaming marketing is teeming with competition with the likes of Audible from Amazon, Pocket FM, Kuku FM, Pratilipi among others. But the good part is the global audio storytelling market is expected to grow to $53.46 billion by 2032, with strong contributions from emerging markets like India and rapid growth in the Asia-Pacific region. In India, the convergence of affordable data, widespread smartphone penetration, and evolving consumer preferences has propelled the audio OTT sector into a high-growth trajectory.
Amid this momentum, the company says, it is uniquely positioned to fill critical gaps in the market. By prioritising quality and originality, the platform says, it will stand apart in a space often dominated by tech-driven approaches, offering listeners a reimagined storytelling experience that caters to both local and global audiences. With India emerging as a creative hub for diverse storytelling, OrangeGlobal Stories seeks to redefine the audio landscape by showcasing compelling narratives that resonate across cultures and geographies. .
Added OrangeGlobal Stories chairperson Majumdar: "As an ardent enthusiast of audio entertainment and the only female CEO leading a radio channel in India, I am incredibly confident that the team will be able to redefine the storytelling experience. OrangeGlobal Stories is not just a platform but a testament to our commitment to delivering the finest audio content that resonates deeply with listeners.”
Now, it’s up to the audience to listen.
