PRODUCT RESEARCH
StoryTV
This research note is kept separate from the app profile so the main page stays focused on ranking data.
One-line positioning
StoryTV is a vertical short-drama app launched in June 2025 by Indian live-streaming and social entertainment company Eloelo Group, with Greenhorn Wellness Private Limited (Bengaluru) as its store-listing and data-controller entity. It is free to download and ad-supported, with an optional subscription to remove ads, and has surpassed 100 million cumulative downloads within about a year, ranking 1st in India and 6th globally among short-drama apps by downloads in H1 2026 (Sensor Tower), representing the IAA-driven short-drama model in the Indian market.
Product & company
Store listings, the privacy policy and the corporate website all point to Greenhorn Wellness Private Limited (Bengaluru, India), which presents itself as the group's technology company behind five products including Story TV and the Eloelo live platform, serving over 150 million users. Eloelo Group's website lists Greenhorn Wellness as a group entity at the same address, and The Economic Times, Moneycontrol, Mint and other authoritative media confirm StoryTV as an Eloelo Group product. The entity chain is clear and no mainland-China parent company exists.
Business model & format
On the free track this is a 'free download + ad-supported (IAA) + optional subscription to remove ads' structure: users download for free and watch dramas free in exchange for ads, making advertising the core monetization; early industry reports described it as a pure-IAA app. The store also lists a subscription (about INR 599 per quarter, mainly for ad-free viewing) and in-app purchases (about INR 10-999 per item on Google Play, 5 IAP items on iOS) as secondary revenue. Third-party data (Sensor Tower/FICCI-EY) showing roughly US$40,000 of monthly IAP revenue further confirms that ads dominate while IAP remains small.
Growth & market
Launched on June 25, 2025, StoryTV approached 5 million downloads in its first four months (September downloads up 89.77% MoM) and has surpassed 100 million cumulative downloads (about 120 million on Google Play, roughly 7-8 million in the last 30 days). Sensor Tower shows over 71.48 million downloads in H1 2026, ranking 6th globally among short-drama apps and 1st in India; it was the only short-drama app in India's top-five non-gaming app downloads in both Q1 and Q2 2026, hitting record MAU in June 2026 with IAP revenue up more than 50% QoQ. Growth relies mainly on Eloelo's live-platform funnel and creator ecosystem rather than heavy ad buying (about 4,000 ad creatives per month), yet digital ad spend nearly tripled in H1 2026, making it India's top Movies & TV Shows advertiser by impressions.
Risks & watchpoints
Parent Eloelo Group remains loss-making (net loss of about INR 9.85 billion in FY25) and depends on funding. Under the free IAA model, revenue per download is low (third-party data shows roughly US$40,000 of monthly IAP revenue), so ad-monetization efficiency versus content costs needs tracking. The iOS app has a low rating (about 2.3) with complaints about subscription billing and notification spam. India's short-drama market is intensely competitive (Kuku TV preparing an IPO, ShareChat's QuickTV, Viralo, Pocket TV, and incumbents such as Zee and JioHotstar entering). Several apps share the names 'Story TV / Story Max', so tracking should key on the package story.tv.drama.reels.