Seventymm to close down rental business, will focus on ecommerce
Seventymm, the DVD rental business that raised INR 50 Crores in Series C from NEA-IUV (in 2008) and later moved to ecommerce is now shutting down its DVD rental business.
The company is calling its customers and informing them of the same (and is giving away a gift voucher for the ecommerce store).
Very recently, BigFlix too killed its rental model and launched streaming Bollywood Movie-on-Demand service.
As far as seventymm is concerned, moving to ecommerce seems to be an easy choice as they ‘pivoted’ to ecommerce/deals a long time back and running the DVD rental business probably didn’t make sense.
So as a model, Netflix’s copycat model failed to work in India – not sure if its fair to call that the model wasn’t suited for India OR the players didn’t really play it efficiently (most of these DVD rentals companies were known for bad support/operations).
What’s your opinion?