MAM

Entertainment Goes Online - A $5 Billion Opportunity in India

Entertainment Goes Online - A $5 Billion Opportunity in India

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2018/11/21/bcg.jpg?itok=U336HGEF

Mumbai: Over-the-top (OTT) content market in India is at an inflection point in India, as per the latest report by The Boston Consulting Group titled ‘Entertainment Goes Online’. 

The report pegs the Indian OTT market to reach $5bn in size by 2023. This growth is being driven by rising affluence, increase in penetration of data into rural markets and adoption across demographic segments including women and older generations. 

The ‘Entertainment Goes Online’ report is based on a first -of-its-kind consumer survey that seeks to understand consumers’ motivations in adopting OTT content over other conventional modes of content delivery. Survey results showed that there is a room for many types of OTT models such as SVOD (subscription-based platforms), AVOD (advertising-based platforms) and TVOD (transaction-based platforms) to succeed in the market. 

“Majority of India has a single TV per household. Affordable data has created an alternate medium where consumers, for the first time, can tap into content basis individual preference at a time and space convenient for them. Whilst the current market operates with a largely advertising paid content paradigm, consumers are not averse to paying for convenient content access that OTT unlocks,” said Kanchan Samtani, Partner & Director, The Boston Consulting Group. Affluence and wide variety of content being developed for OTT market including diversity in genres and language gives OTT market a favorable edge over it traditional counterparts.

The study identified three archetypes of customers in the Indian market, 1) traditionalists – who primarily consume on other than OTT platforms, 2) OTT Experimenter – who has significant consumption on both conventional and OTT platforms 3) Early Adopter – whose primary consumption occurs on OTT platforms. While early adopters are still a more urban phenomenon, going forward it will be more equally distributed.

48% of India’s internet users (~650 million by 2023) are expected to be from rural areas. With development of regional content by various players, the rural market is poised to become a significantly large opportunity for players. OTT is riding the wave of increased data consumption and internet access in rural India, has opened a new distribution channel that is viable for regional and niche content. 

Indian content including music, Bollywood content and cricket have large following in the Indian diaspora also. OTT Players with Indian content have potential to tap into this market too. “While the NRI content market is huge and demonstrates willingness to pay, it is not only dominated by cricket – Bollywood music and films are very significant. With their large content libraries, Indian OTT players are sitting on a metaphorical gold mine to serve this increasingly important customer base”, said Gaurav Jindal, Principal, The Boston Consulting Group.

“One of the key insights of our consumer work was that, while OTTs rely on top-notch hero content to attract consumers to the platform, the stickiness of these consumers is not very high unless accompanied by ways in which they engage more deeply with the platform and is associated with strong marketing efforts," said Kanchan Samtani when discussing the subscriber acquisition and retention strategy of various OTT platforms.

While Indian OTT players have taken many steps to capture the market, there is a lot that needs to be done before, Indian OTT market achieves the same penetration and maturity as its western counterparts.
 

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/20/prithvi.jpg?itok=0uHyIv8S
Fanmojo announces association with Prithvi Shaw

Keeping an eye on the rising popularity of fantasy sports in India, Fanmojo, a part of U2opia Global, announced its association with the young prodigy of Indian cricket-Prithvi Shaw.

MAM Media and Advertising People
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/20/inox.jpg?itok=oFDz3iYg
INOX becomes the official partner of Rajasthan Royals

India’s fastest growing multiplex operators INOX Leisure Ltd announced that they have become the official partners with Rajasthan Royals. Under the partnership, INOX will have its logo presence on the team attire.

MAM Marketing Brands
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/20/holi.jpg?itok=dYf5kwUZ
Holi goes digital with Helo

Sending Holi greetings, Helo, India's leading regional social media platform, just launched ‘Holi by Helo’ its latest festive campaign.

MAM Marketing MAM
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/20/quint.jpg?itok=cB1Gt0se
The Quint, founded by Raghav Bahl and Ritu Kapur, turns 4

The Quint, India’s leading mobile-first online news portal, completes four years of delivering bold and thought-provoking news, views and interactive content to its readers.

MAM Marketing MAM
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/20/morris.jpg?itok=sAtAVzQW
Morris Garages India announces Benedict Cumberbatch as brand ambassador

Marque carmaker MG (Morris Garages) India has announced its association with the revered British actor Benedict Cumberbatch as its brand ambassador.

MAM Media and Advertising People
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/20/livguard.jpg?itok=fGkzu7p8
LivGuard launches ‘Smart and Strong, Chale Life Long’ campaign featuring Akshay Kumar

MUMBAI: Energy storage brand, LivGuard Energy Technologies, has introduced its current range of inverters and inverter batteries through a 360-degree campaign ‘Smart and Strong, Chale Life Long’, conceptualised by Famous Innovations and starring Akshay Kumar. LivGuard is planning to run the new TVC...

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/20/delhi.jpg?itok=_RxLeul0
TCL Electronics and IPL’s Delhi Capitals join hands to build on their proven track record as game-changers

TCL Electronics, a global top-two television brand and a leading consumer electronics company, has announced its partnership with Delhi Capitals as a team sponsor for the upcoming season of the Indian Premier League (IPL).

MAM Marketing MAM
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/20/RELAXO.jpg?itok=g0iSjrum
Relaxo ventures into digital gift voucher space with GyFTR

Relaxo Footwears Ltd is now foraying into the digital gift voucher and loyalty points redemption space with GyFTR (Vouchagram), the country’s leading online-to-offline (O2O) peer-to-peer gifting platform.

MAM Marketing Brands
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/19/SBI.jpg?itok=ZgaGXjDn
SBI Life Insurance launches breast cancer awareness campaign “Thanks a Dot”

SBI Life Insurance, one of India’s largest private life insurers, has launched ‘Thanks A Dot’, an innovative breast cancer awareness initiative that is supported by the Women’s Cancer Initiative -Tata Memorial Hospital.

MAM Media and Advertising Ad Campaigns

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories