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Future of India in OTT Platform

The document discusses the growth and future of OTT platforms in India. It states that India is currently the world's fastest growing OTT market and is expected to become the sixth largest by 2024, growing at a CAGR of 28.6%. The COVID-19 pandemic accelerated this growth as it forced people to stay home and led major production houses to release new films on OTT platforms. While big budget films may not continue releasing directly on OTT, the trend of digital-first content is expected to continue in the future as OTT platforms focus on differentiated content.

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Shriyansh Asati
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106 views

Future of India in OTT Platform

The document discusses the growth and future of OTT platforms in India. It states that India is currently the world's fastest growing OTT market and is expected to become the sixth largest by 2024, growing at a CAGR of 28.6%. The COVID-19 pandemic accelerated this growth as it forced people to stay home and led major production houses to release new films on OTT platforms. While big budget films may not continue releasing directly on OTT, the trend of digital-first content is expected to continue in the future as OTT platforms focus on differentiated content.

Uploaded by

Shriyansh Asati
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Future of India in OTT platform

Like so much else that changed overnight during the global pandemic that hit
2020, the media and entertainment industry too rounded a bend that it is
unlikely to return to again.

Distributed, over-the-top (OTT) platforms and smart TV penetration had


already begun changing the way the world consumed content, especially
entertainment, in recent years. What the pandemic and the resulting
lockdowns did was to accelerate that process manifold.

With people forced to stay home for months, most OTT platforms saw an
unprecedented rise in subscribers. Moreover, as Covid-19 guidelines and
lockdown regulations prevented films from being physically released in
theatres, major production houses too turned to OTT platforms for their new
releases.

India, the fastest growing OTT market


According to a recent PwC report, India is currently the world’s fastest growing
OTT market, set to become the sixth largest around the globe by 2024. The
market in India is expected to grow at a CAGR of 28.6% over the next four
years, touching $2.9 billion in revenues.

Pandemic acted as a catalyst


The seeds of growth for OTT were sowed well in advance with the growth in
broadband and increased smartphone penetration. With people, especially the
working sector, spending more time on their phones and laptops, these OTT
platforms have become a more engraved part of our lives. The ease of anywhere
and anytime viewing suits the need of fast paced life of a digital consumer.

The market has shown steady growth from a two-player market in 2012 to a more
versatile market with more than 40 players currently, and with an unending scope
for many more. The bundling of OTT content with data plans by the telecom
companies have tremendously helped in expanding the reach and awareness of
OTT platforms.

OTT is one of the very few industries to have benefitted from the pandemic.
In the absence of original content on linear broadcast medium, there has
been a significant off take in the subscription and consumption of OTT
content.

Digital first trend to continue, big production houses


might refrain
Ever since March 23, 2020, when the lockdown was first imposed in the country,
cinema halls around the country were asked to shut.

While the single-screen owners and multiplex owners were then struggling hard to
open their shutters, Over The Top (OTT) players sported a big smile on their face
with every second film coming their way for streaming. Moreover, the absence of
fresh content on GEC further pushed consumption on OTT channels.

Prominent OTT channels were seen thanking their stars for giving them the
opportunity to make good business by attracting good viewership on OTT and
acquiring the ready for release big ticket films at attractive price points.

However, these were special times and OTT players might not find Big ticket
releases so easily for a digital first release at the price point they could acquire
these assets. For a production house which can expect a big box office collection
through a theatrical release, digital first doesn’t seem attractive for them. The
South Indian film industry refrained from digital first and delayed their release.
Nevertheless, in future, the need for differentiated content might push the
platforms commission Digital Only/Digital first content and the trend might
continue.

In a nutshell, the future of OTT viewing looks bright and shining, more than ever.
The pre-existing growth got a catalyst in the form of the pandemic and from here
there is no looking back for the industry.

Growth And Future Of OTT Platforms In India


According to a recent PWC report, smartphone penetration in India is
expected to reach around 99% by 2022. And at the same time, OTT
platforms are expected to grow at a CAGR of 22% by 2022 to around INR
6000 crores. With such a huge user base comprising a large number of
smartphone consumers under the age of 35, OTT platforms will focus more
on youth-friendly content. Another factor helping in the tremendous growth
of OTT platforms in India is the rising level of disposable incomes, i.e., an
average Indian consumer can spend more amount on his enjoyment today
as compared to a few years back. Shows and movies in local languages
(Tamil and Telugu are some examples) have attracted people from various
fronts to these platforms; the reason being unlimited movies and shows in
their mother tongue at dirt cheap rates.

It's not that such platforms have content only for the youth; they offer
something for the kids, the elderly, and every other age group.
Growth of OTT Platforms in India

India is a huge market for OTT platforms, so offering different plans to


satisfy a diverse user base with different income levels is the only solution
for faster absorption and growth. And after reading all these information, It
will be a good option for Tata to invest in ott platform or probably tying up
with some big giants who are already in the market.

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