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Monday, November 2, 2020

OTT subscribers in India increased by 30% in four months

Gone are the days of TV channels?  OTT subscribers in India increased by 30% in four months

There were 22 million paid subscribers in March 2020, which rose to 29 million by July after four months.

 90% of content is viewed in Indian languages;  Only 7% of the time on platforms on English content

 Entertainment habits are changing around the world, including in India.  Instead of family entertainment, the scam 1992, Mirzapur, Ashram Devi web series on over-the-counter (OTT) platforms is now attracting a large number of viewers.  The lockdown caused by Corona gave everyone plenty of time and increased the speed of adoption of OTT platforms in this free time.

 The OTT sector in India grew between March and July 2020, according to a report by Redsea Consulting.  The number of paid subscribers has increased from 2.22 crore in March to 2.9 crore.  The current survey says that the lockdown did not create new programs for TV channels, even theaters remained closed.  Releases of new films were delayed, with only OTT platforms becoming a source of entertainment.  The OTT platforms that brought in regional content benefited the most.  The result was that between April-July 2020, 50% of Vadu overall streaming was of Hindi language content.

 The share of metros in the audience decreased

 So far, a large portion of the people who watch web series on OTT platforms are from metros.  Five metros accounted for 55% of those who viewed OTT content last year, according to a report by Counterpoint Research.  The remaining 45% comes from other metros and across the country, but a survey by Redsea Consulting found that the situation has changed since the lockdown this year.  Riding on the growing regional content, OTT content has now spread to smaller villages and towns.

 A report by the India Brand Equity Foundation says that 90% of consumers in India are choosing to view content in regional languages.  Only 7% of the time spent on the OTT platform has gone to English content.  The change is that the reliance of OTT platforms on metros has decreased and is now only 46%.  35% of people in Tier-1 and 19% of people in Tier-2 cities are watching content on OTT.  Looking at the speed, it seems that in a year or two, the share of metros will still be low.

Heavy on cricket and Bollywood all

 When we talk about the popularity of OTT platforms in India, some interesting statistics come up.  Amazon Prime Video, along with Netflix, G5, Sony Live are in the discussion regarding the web series.  The show is coming to OTT platforms before TV on Sony Live and Woot.  Everyone has at least two or three discussed webseries.

 Many OTT platforms like MX Player, VIU, Ullu, ALT Balaji, Hungama Play are offering different types of content.  There are also platforms that offer special content, such as Discovery +.  Even after that cricket and Bollywood are heavy on all.  Disney + Hotstar launched Big Budget Films on OTT under the name Multiplex after the release of films stopped during the lockdown.  IPL 2020 completed the rest.  Some matches on Sunday were watched by more than a million people.  This shows that the use of OTT platforms is increasing compared to TV channels.

India's market is the fastest in the world

 PWC released its Media & Entertainment Outlook 2020 report in October.  It said that India's OTT market is the fastest growing in the world.  By 2024, India has become the sixth largest OTT market in the world.  It will grow at a rate of 28.6% a year and reach 2. 2.9 billion in four years.  Rajiv Vasu, Partner and Leader, Entertainment and Media, PWC India, said,  It has hit the movie theaters, but this has proved to be a boon for OTT.

 Netflix, Amazon, Disney + Hotstar and other OTT services have increased investment in this over the past year.  As a result, the share of Subscription Video on Demand (SVoD) in OTT revenue has increased to 93%.  This figure is 87% in the world.  Between 2019 and 2024, SVoD will grow at a rate of 30.7%.  This is projected to increase from 70 708 million in 2019 to 7 2.7 billion in 2024.

 The report says that for the first time in 2020, SVoD has surpassed the box office in earnings.  Over the next two years, the box office collection worldwide will lag behind OTT's 

Read saurce in Gujarati

Not only that, traditional TV will also have to bear the brunt of the benefits to OTT.  TV's annual growth is projected to be negative by 2024.

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