 "Sanjay Reddy")
If you are looking for a one-stop-destination for all the digital and creative stuff related to movies, start-ups and celebrities, SillyMonks promises to be that platform.
Founded by Sanjay Reddy and Anil Pallala in September 2013, SillyMonks is a Hyderabad-based YouTube-certified multi-channel network that aggregates and creates content.
The start-up manages various Facebook pages of celebrities and brands and has an authorised partnership with Google and Yahoo!. Monkstar Music, which helps independent music artists connect with event organisers, is also owned by it.
It recently raised Rs 3 crore from Ektha Group Chairman and Managing Director, Sreenivasa Reddy Musani, which it plans to use for launching six Web series properties on their YouTube channel, 'Silly Tube'.
According to Reddy, the cost of internet is low as compared to television, as the distribution bottleneck and cost of marketing is minimal. The digital surge is unmistakable and the interesting thing would be to see how rapidly India catches up with global trends. He also said traditional media was finding it hard to remain relevant in the era of new media.
Reddy said, "The size of the digital advertising market when they first entered was about Rs 800 crore (2012-13) but in 2016, this market is worth Rs 7,500 crore and in 2020, it will further grow to Rs 25,000 crore. We aim to grab a substantial share of this pie."
The company mainly gets its revenues from YouTube ads, digital marketing and retainership agreements.
SillyMonks claimed to have started making cash profits from August 2014, about 11 months from when it was set up.
