Pankaj Tripathi Joins Velvet OTT as Cofounder: A New Era for Audio Entertainment

Velvet, a new audio OTT platform, has announced actor Pankaj Tripathi as a cofounder. Launched in 2024 by Vikas Kumar, Akshat Saxena, Varad Bhatnagar, and Sharib Khan, Velvet aims to bring Indian storytelling to a global audience by transforming traditional tales, folklore, and modern narratives into immersive audio experiences.

The startup is collaborating with actors, writers, and voice artists to produce exclusive stories. Tripathi, commenting on his decision to join as a cofounder, said, “Storytelling is deeply rooted in our culture. From folk tales to epics, our stories have always inspired, educated, and entertained. With this audio platform, we aim to elevate these stories into cinematic experiences for the ears, transporting listeners to a world of imagination while staying connected to our cultural roots.”

Velvet’s mission is to offer opportunities for theatre artists to showcase their talents on the global stage. The platform is currently available for download on Google Play and the Apple App Store in India.

Cofounder Saxena shared that Velvet plans to expand into the US soon, focusing on the Indian diaspora. Vikas Kumar, another cofounder, emphasized that Velvet’s vision is to preserve India’s rich oral storytelling tradition and offer storytellers and actors from across the country a global platform.

This development comes at a time when the Indian OTT space is growing rapidly. In November 2024, Prasar Bharati launched its own OTT platform, WAVES, which reached over 1 million downloads by December. Additionally, regional platform STAGE is raising funds to expand its reach.

As internet and smartphone usage grows in India, OTT platforms continue to thrive, with over 707 million internet users engaging with digital audio and video services in 2023.