Monarch Soft Tech LLP is a prominent provider of IT solutions catering specifically to the Broadcast and Video industry. Renowned for its leading products like Simba, Tornado, Striker, SmartCut Pro for the Video sector, and Virtiset WOW and EMEE Cast for Broadcast, Monarch consistently prioritizes meeting customer needs with straightforward, sophisticated, and cost-effective solutions. Furthermore, the company prides itself on delivering prompt customer service, which has been instrumental in maintaining its position as a market leader in the video and broadcast domain.
As an Indian company, Monarch takes great pride in its ability to develop hardware and software solutions locally for broadcast media companies. Throughout its existence, Monarch has set the pace in the market by offering innovative solutions, a trait that has garnered numerous awards and recognition.
In an exclusive discussion with The Interview World, Viren Satra, CMD of Monarch, delves into the company’s product and service offerings. He elaborates on what sets their products apart, provides insights into their revenue streams, and highlights how Monarch is harnessing emerging technologies such as AI and AR to enhance its product offerings. Here are the key takeaways from his interview.
Q: What strategies or approaches are you employing to differentiate your product and service offerings within the broadcast industry?
A: Monarch plays a pivotal role in assisting broadcast media companies across various fronts. Primarily operating as a product company headquartered in Mumbai, we have engineered a range of innovative solutions tailored for both the broadcast and wedding industries. Among our flagship offerings is a cutting-edge product, proudly crafted in India: a fully immersive augmented reality virtual studio system. This advanced 3D TV virtual augmented reality system caters to diverse sectors such as news, sports, broadcast, and education.
Our product portfolio encompasses multiple vertical solutions. One standout creation is our multi-window 3D DV switcher, distinguished by its unique features including multiple layers and chroma keyers, all wrapped in a user-friendly interface. Both these products are adeptly suited for live events. Complementing these, we’ve developed an offline video editing system akin to industry standards like Adobe Premiere and EDIUS Pro.
This bespoke editing system caters specifically to the needs of broadcast media and social media professionals, boasting a vast library of templates for instant use across various productions. Users can effortlessly customize templates, conduct comprehensive edits, and execute seamless productions.
Beyond our product offerings, Monarch extends its services to channels such as DD Sports. Notably, we’ve collaborated with them to provide graphics solutions for sports programs, including flagship events like Khelo India and numerous others. Leveraging our sizable team, we deliver both cutting-edge technology and expert manpower for live sports graphics. Our comprehensive suite of services encompasses both equipment provision and operational support, ensuring a seamless broadcast experience for our clients.
Q: What specific drone-augmented services does your company offer, and how do they enhance or supplement your existing operations?
A: At our company, we excel in offering cutting-edge drone-augmented services tailored specifically for sports events. In the modern sports arena, the presence of drones has become a common sight, elevating the viewing experience with captivating aerial perspectives and seamlessly integrated AR graphics. This advanced technology, known as Augmented Reality, has been seamlessly incorporated into our product lineup, ensuring versatility and adaptability for a wide range of events and broadcast programs. From cricket matches to other sporting spectacles, our solutions bring an immersive and dynamic element to the audience’s viewing experience, enhancing engagement and delivering unparalleled visual storytelling.
Q: Could you please share how long you have been in this business, and could you also provide information about your clients in India?
A: Over the span of the last ten years, we have established a significant presence in the industry, dedicated to serving our clients with excellence. Our esteemed clientele includes some of India’s leading broadcasters, such as Doordarshan, Aaj Tak, ANI, and Zee TV, among others. They entrust us not only with the provision of top-notch products and equipment but also rely on our expertise and services for their special broadcast needs. This enduring partnership underscores our commitment to delivering unparalleled solutions tailored to meet the diverse and evolving requirements of our valued clients in the dynamic media landscape of India.
Q: What strategies or unique features do you employ to set your products apart from those offered by competitors?
A: One crucial point to highlight is that 95% of products in our market are imported. However, we stand out as the sole Indian company dedicated to designing and developing products locally. Essentially, all our products are made in India, aligning with the government’s Make in India initiative. Moreover, our products are not only affordable compared to imports but also user-friendly.
In contrast to international offerings like Virtual Show and Virtual Tracking System, priced between Rs. 3 crore to Rs. 4 crore, our products range from Rs. 30 lakh to Rs. 55 lakh. This significant difference in cost makes our solutions highly accessible to the Indian broadcast industry.
Q: What is your current turnover, and what is your strategic vision for the growth and development of your business over the next five years?
A: Currently, our turnover stands between Rs. 15 crore to Rs. 20 crore, reflecting our present business performance. However, as we project our future endeavors, we envision substantial growth. Over the next five years, our strategic initiatives and market expansion plans are poised to elevate our turnover significantly. We anticipate our revenue to soar, aiming for a range of approximately Rs. 50 crore to Rs. 70 crore. This growth trajectory signifies our commitment to innovation, customer satisfaction, and operational excellence. With diligent efforts and focused strategies, we are confident in our ability to realize these ambitious targets and further solidify our position in the market.
Q: What potential impacts and advancements do you foresee with the integration of emerging technologies such as AI and AR within broadcast products?
A: In our product development endeavors, we harness the power of advanced technologies, prominently Artificial Intelligence (AI) and Augmented Reality (AR). Augmented Reality stands as the cornerstone technology within our video and broadcast products, offering immersive and interactive experiences to users. Notably, we have already introduced a range of AR-based products, showcasing our commitment to innovation and user engagement.
Moreover, our focus extends to the vast potential of AI, recognizing it as the linchpin of future technological advancements. AI’s versatility enables it to address myriad specialized applications, from predictive analytics to natural language processing, thereby enhancing the functionality and utility of our products. By seamlessly integrating AI and AR technologies across our product spectrum, we ensure that our offerings remain at the forefront of technological innovation, empowering users with cutting-edge solutions that redefine their digital experiences and capabilities.
Q: What strategies do you employ to ensure that your products empower social media players, especially given their high price range?
A: Social media platforms contend with relatively higher costs, constrained by their available budgets, whereas broadcast companies benefit from more affordable rates. Despite this, the social media sector commands a larger market share. In response to this dynamic, we offer tailored rental solutions and services to address their specific needs. By doing so, we not only accommodate their requirements but also ensure affordability within their budget constraints. Our approach emphasizes flexibility and customization, enabling us to effectively serve both social media players and broadcast companies alike, fostering a mutually beneficial relationship that maximizes value for all parties involved.
