Picture Credit: mxplayer
From December 2021 to February 2022, Shark Tank India, an entrepreneurial reality TV show, had taken Indian TV (and OTT platforms) by storm. Memes about the show flooded Twitter, the judges became household names and millions of people tuned in to watch the show every night.
What Was Shark Tank India?
If the names Ashneer Grover or Peyush Bansal don’t ring a bell, let me fill you in on what Shark Tank India is all about. Shark Tank was a televised platform where entrepreneurs and start-up founders from all over the country could come to pitch their business ideas to “Sharks” and secure funding.
The Sharks, or potential investors, are successful, self-built businessmen and businesswomen of India who had built multi-million (or billion) dollar brands such as Lenskart, BharatPe, SUGAR, Mama Earth, boAt and Shaadi.com, or revolutionised the field of Healthcare or Technology.
Shark Tank India was an opportunity for some entrepreneurs to gain valuable mentorship and investments, and a great platform for founders to showcase their products to a huge audience. The show educated the Indian audience on Entrepreneurship and the world of investing.
How Popular Was Shark Tank India?
Shark Tank India is a franchisee of the popular US Television series of the same name, which has been wildly successful on ABC since 2009. The first season of Shark Tank consisted of 35 episodes in which 121 businesses were pitched and over INR 25 crore were invested.
The Sony Network broadcasted the show to over 30 countries, and the popularity of their OTT Platform, Sony LIV, was tremendously boosted following the addition of Shark Tank. Following the phenomenal success of the first season, Shark Tank India was renewed for a new season on May 1st, 2022.
Why Was Shark Tank India Such a Success?
After the first season of Shark Tank India was announced, critics were sceptical about the success of the reality tv show in India. Many believed that the Indian audience wouldn’t be interested in the non-scripted, non-dramatised series on business and investing. Some even believed that the audience needed to be educated on the field before any show in the genre would be successful.
Despite these scepticisms, Shark Tank India was a roaring success, and the reasons behind the same can be boiled down to:
Hindi Language
Shark Tank India was broadcasted in Hindi, making it accessible to a considerably wider audience than previous similar entrepreneurial shows, which had been conducted in English. Shark Tank India used the already proven method of its US counterpart but made following the show possible for a wide variety of people - from elementary school students to retired elders.
Shark Tank India introduced basic Entrepreneurship and Finance concepts in an easy-to-understand way, often pausing pitches to explain the meanings of terms like EBITDA, or Venture Debt. The Sharks discussed investment decisions in a way that was easy for everyone to follow and being able to understand the mind of an investor was fascinating for all.
Made Entrepreneurship Accessible
OTT Boon
Meme Marketing
Made Entrepreneurship Accessible
It was a platform for Indians, from all walks of life, to showcase their ideas. It proved that with the right idea, anyone could build a successful business - be it an Engineer from IIT or a rural farmer. This made founding your own business venture seem like a viable career prospect in India and inspired people to initiate talks about Entrepreneurship in their homes.
OTT Boon
Shark Tank India was able to leverage the rising popularity of OTT streaming in India. In addition to being live broadcasted during peak viewing hours on TV each weekday, Shark Tank India was also available on SonyLIV, Sony’s OTT Platform, as well as YouTube. SonyLIV also housed exclusive clips from the show to incentivise viewers to use the app, and Shark Tank amassed millions of views on YouTube.
Meme Marketing
Shark Tank was the inspiration behind a plethora of memes and opportunities for momentum marketing. The expressions used by Sharks (especially Ashneer Grover) and contestants alike were made popular through all forms of social media. The Sharks gained more than 100,000 followers as a result of the show.
From discussing the business presentations which appeared on the last episode, to enjoying the reactions the Sharks had for certain deals, Shark Tank India was the perfect mixture of education, fun and drama which made it appealing to all.
Written By: Arushi Bajoria
Edited By: Nidhi Jha
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