A new Trends to Watch report from global analyst and advisory firm Omdia has sparked widespread discussion. It predicts that 2025 will mark the first year streaming revenues surpass traditional pay TV—and by a substantial margin—reaching $213 billion.
Among the key players capitalizing on this shift is Platform24, a state-of-the-art white-label interactive television and video-on-demand (VoD) platform that integrates leading CIS online cinemas, including Megogo, IVI, Amediateka, Premier, START, more.tv, Nonfiction, QFilm, Birge.TV, and more. This innovative solution enables users to access an extensive range of premium content from multiple providers through a single subscription, all within one seamless app.
Also operating under B2B2C and B2B models, Platform24 offers its advanced technological platform to telecom operators and media companies. Since its launch, its flagship service, 24TV, has grown to serve over 20 million users, with approximately 500 internet providers leveraging its solutions. The white-label platform is used by 31 companies across eight countries. A pivotal figure behind this success is Dmitry Orekhov, who joined as Executive Director of 24TV in 2016 and spearheaded the product's market entry.
The Journey Begins
24TVwas originally founded by two entrepreneurs aiming to create a product for internet service providers (ISPs). Their deep industry knowledge highlighted a critical gap: the local market of more than 2,000 ISPs lacked affordable, functional TV service solutions, facing a choice between expensive integrators or feature-limited free platforms. Recognizing this challenge, the founders envisioned an independent, cost-effective technology with a low entry barrier for network operators worldwide. However, they needed a visionary leader to transform their concept into reality. This is where Dmitry Orekhov stepped in to introduce an approach that would revolutionize the industry.
Orekhov brought extensive expertise from his tenure at Dune HD, a digital media player company with a strong international presence and several prestigious awards, including the ConnectedWorld.TV accolade for "Best Communication TV Device of the Year." As a head of the Russian division, Dmitry played a key role in Dune HD's partnerships with telecom giants like MegaFon, helping them develop their own over-the-top television (OTT) solutions. A twist of fate led Orekhov to pitch his OTT concept—initially intended for a national media group—to the founders of 24TV. This encounter set the stage for a transformative journey.
A Game-Changing Business Model
Under Orekhov's leadership, 24TV quickly gained traction, still prioritizing technological innovation over aggressive marketing. The company initially operated under a B2B2C model, partnering with telecom providers to bundle its services into their existing packages. Customers paid through their operators, who then remitted payments to 24TV after deducting their commission.
Following the success of this model, 24TV expanded into the B2C market by securing OTT rights. Dmitry has long recognized the immense potential of interactive television and OTT streaming—delivering digital content (movies, series, music) over the internet rather than through traditional broadcasting or cable TV. This innovative model contrasts with the traditional approach, where operators exclusively provide services to their subscribers while handling billing internally. OTT offers greater flexibility, a wider content selection, and the ability to reach global audiences without the constraints of conventional distribution channels.
Thanks to Orekhov's efforts, 24TV aggregated content from various online cinemas and hundreds of TV channels into a single, user-friendly product. Subscribers could access individual libraries or opt for bundled packages covering all available content. Rights holders were compensated through either revenue-sharing models or a fixed cost-per-subscriber (CPS) one.
By leveraging advanced technology and a user-centric approach, 24TV has successfully bridged the gap between telecom and streaming, creating a more efficient and scalable entertainment ecosystem. OTT capabilities also opened doors to strategic partnerships with major TV manufacturers. For instance, Xiaomi, preparing to launch Mi TV sales in Russia, selected 24TV as one of its first partners for integration into its PatchWall interface. This collaboration significantly boosted 24TV's market presence without requiring massive marketing expenditures. The company quickly established itself as a formidable competitor to Smotreshka (also known as Lifestream), the first service to enter the market in 2013.
Pioneering Technological Advancements
One of 24TV's most significant innovations was the introduction of a structured TV program archive in 2016, making it the first company in the CIS to offer an enhanced TV consumption model. Previously, users had to manually navigate electronic program guides (EPGs) to find specific titles. 24TV streamlined this process by consolidating catch-up content into a single, genre-based catalog, significantly increasing the value of TV subscriptions. This involved extensive collaboration with rights holders, but the effort paid off, and today, many industry products benefit from the results of this work.
As integration with various online cinemas grew, a new challenge emerged: users had to search through each library individually. To resolve this, 24TV launched a revamped platform in 2022, enabling seamless content discovery through personalized collections, recommendations, and interactive showcases. Additional technological advancements included real-time streaming without delays—critical for live sports and events—advanced personalization features and dedicated kids' profiles.
The company also leveraged its technological expertise to expand its product offerings. Initially catering to smaller operators, 24TV soon recognized the demand for customizable solutions among larger telecom providers. These major players typically offered only basic cable TV or IPTV services. They delivered live broadcasts and on-demand content over IP networks but lacked advanced features. To bridge this gap, Dmitry Orekhov introduced a new business initiative, offering large operators a white-label platform. This solution allowed them to develop fully customized products within just a few months, with costs starting at a few thousand dollars per month.
Capitalizing on Market Trends
The rapid rise of online video services, coupled with a decline in traditional television viewership, presented both challenges and opportunities. In 2021, Russia's legal VoD market, operating under the OTT model and offering professional video content, continued its rapid growth. According to TMT Consulting, the market expanded by 56% compared to 2020. The total audience of OTT video services grew by 8% over the year, reaching 68 million users. At the same time, the number of households with at least one online cinema subscription surged by 33%, totaling 11,3 million by year-end.
As television struggled to keep pace, this growth led to the introduction of a new law mandating the free online broadcasting of 20 TV channels. Major audiovisual platforms were required to distribute television content. Leading VoD services like Start and Premier rushed to integrate live TV features into their solutions. Start, among other players, utilized 24TV's API and was able to launch TV broadcasting in just two to three months. This swift implementation further cemented 24TV's reputation as a vital technology provider for online streaming platforms.
Beyond Borders and Boundaries
By 2022, Orekhov set his sights on international expansion, which led to the establishment of Platform24. The company quickly became a resident of Uzbekistan's IT Park and gained access to favorable business conditions and tax incentives. Within two years, Platform24 secured partnerships with Beeline Uzbekistan, one of the country's largest telecom providers, and Click, a financial super-app with over 16 million users, to launch the Click TV service. The company also successfully partnered with clients in Kazakhstan, Kyrgyzstan, and Azerbaijan.
Today, Platform24's international ventures contribute approximately 10% of its revenue, a figure set to rise as expansion efforts continue. In 2024, the company generated $6 million in revenue from the Russian market, with an additional $1 million from global operations, which represents an impressive year-over-year growth exceeding 70%. By prioritizing innovation, strategic partnerships, and global expansion, Platform24, under Dmitry Orekhov's leadership, remains a major force in the interactive television and VoD industry and reshapes the way audiences experience digital content worldwide.
