Silly Monks Entertainment, the investors in the Telangana Premier Kabaddi League (TKPL) promoter company Chintala Sports, will get into the business of sports entertainment.
Hyderabad-based digital entertainment company Silly Monks Entertainment recently acquired 51 per cent stake in Chintala Sports Pvt Ltd, the curators of Telangana Premier Kabaddi League which is a regional avatar of the hugely successful Pro Kabaddi League (PKL).
Silly Monks focuses on content aggregation, customisation and deployment of content on digital platforms. They work closely with YouTube, Amazon, Netflix, VuClip, Yupp TV, Zee5, Idea, Facebook etc.
The company made headlines in the beginning of this year with its debut on National Stock Exchange (NSE). It is the first digital entertainment company to be listed on NSE’s small and medium-sized enterprises platform Emerge.
Sanjay Reddy, Chairman and Managing Director of Silly Monks Entertainment spoke about the acquisition, entry into sports with TKPL and revealed company’s future plans to exchangeformedia.com.
“We tested TPKL last year which gave a tremendous boost to channel 10TV. The channel became No 2 in the time band the league was telecasted. We saw potential, hence we replicated it for other regional channels. PKL has established kabaddi’s potential nationally. It made logical sense for Silly Monks to be associated with the fastest growing genre in sports entertainment next to cricket,” Reddy told exchangeformedia.com.
“We decided to do what other popular sports leagues were doing, in terms of auctioning the team and players, etc. This will make team owners a part of the success and help in the overall growth of the league. Auctioning of players will help the players realise their full potential and become an inspiration for others,” he added further.
Reddy has also expressed his desires to make Chintala Sports Pvt Ltd, a full fledged sports entertainment company which will create annual properties and be present on most of the telecast platforms. “We don’t want to stop at kabaddi. We want to enter into ground leagues or made-for-television kind of leagues which will help people from going from street to the screens,” he said.
Silly Monks expects a growth of 40 per cent as compared to last year. According to Reddy, growth in internet penetration, availability of smartphones at affordable prices, spurt in regional content consumption, and experienced team and high focus have led to the tremendous growth of the company within a short span of time.
On data explosion, Reddy explained that for any digital entertainment company, the basic currency is how much your content is viewed, based on which the money or advertisers follow. He further added that the roadmap ahead for Silly Monks is to grow the creator ecosystem for YouTube.
Silly Monks recently produced its first Telugu web series for Amazon called ‘Gang Stars’, a crime comedy-drama directed by Nandini Reddy. They have also entered Telugu film production with two movies on the floor. The company is now looking at animation and live action space as their next project.