The OTT platform in India is one of the biggest markets fostering growth and contribution to the entertainment and media industry. Being the fastest growing sector, it is emerging as one of the promising markets for the Indian digital ecosystem. As there are lots of platforms competing in various content specific segments, it is definitely wowing the audiences through spell-bound web series, movies, entertaining content, and lots more.
As per the report released by FICCI KPMG in 2020, the Indian digital ecosystem has fairly touched around 400 million smartphone users with an approximate figure of 688 million internet subscribers on OTT platform . Referring to these figures, it is quite surprising to say that the telecom industry has become the primary platform for the distribution and consumption of content through the internet.
The Media and Entertainment (M&E) sector in India has reached Rs 1.82 trillion (US$25.7 billion) in 2019 and is expected to rise above Rs 2.4 trillion (US$34 billion) by 2022. (FICCI KPMG REPORT)
The OTT platform overtook the filmed entertainment industry in 2019 to become the third-largest segment of the media and entertainment industry due to its advantage of enabling access through on-demand content consumption nationwide.
OTT platform in India
Currently, India has more than 30 OTT platform , in which the major competitors are Netflix, Amazon Prime Video, Disney + Hotstar, The Viral Fever, Zee 5, Alt Balaji, Voot, Sony Liv, MX Player, Eros Now, Viu, platforms providing content in regional languages like Aha, Hoichoi and many more emerging platforms in the market. They all have something different to offe to their customer base, and are worth exploring if you’re someone who loves to explore new content. OTT platform is gaining popularity among youth in India.
Disney + Hotstar is the biggest palyer in the market, with 400 million monthly users and 8 million paid subscribers, making it the highest subscribed OTT platform in India, followed by Amazon Prime with 4.4 million paid subscribers, SonyLIV with 70-80 million active users with 20% paid subscribers, Netflix with 2 million paid subscribers in India and 16 million in Asia Pacific, and Voot with 100 million active users, offering Voot Select for premium content. The competition is up to the neck in the market of digital OTT platform with many more like Zee5, ALT Balaji, MX Player, Mubi, Arre, Eros Now, etc along with platforms providing content in regional languages like Aha, Hoichoi, etc.
Marked in the global market as the potential audience and talent!
With the release of Sacred Games on Netflix, the Indian OTT platform market made its mark in the global market, becoming one of the potential markets for OTT platform . With such a large set of audience with access to Internet, it has opened a lot of opportunities for the Digital Content industry to come and win the audiences’ hearts. After Sacred Games, not only India got marked as the potential market for OTT platform , but also a potential market of talent to explore by the companies.
Branding and OTT – How OTT platform in India offers a scope of advertising
With the rise of OTT platform , advertising has also grown a lot with it. Brands have a lot of ways of advertising in web-series and movies. For instance, Tripling from TVF had Tata Tiago, Official Chukyagiri by Arre had OnePlus, Dice Media’s What The Folks and 2 by 3 had Epigamia, Zoomcar and Kurkure (PepsiCo) respectively, YFilms’ Sex Chat with Pappu and Papa had Durex, and many more.
Regional Content is on the rise on OTT platform
Regional content has taken a major boost, thanks to OTT platform . The channels have a wide range of content to explore, not restricting themselves to two standard languages – English and Hindi. They have content in various regional languages like Tamil, Telegu, Malayalam, Kannada, Marathi, Bengali, Punjabi, Gujarati, etc. Movies and shows like KGF Chapter:1, Ala Vaikunthapuramuloo, Arjun Reddy, V, Penguin, Shadaa, Qismat, What’s Up Lagna, and many more on OTT platform.
OTT platform is constantly rising in the industry due to a lot of features – cheaper than television, better content that television, available on multiple devices and there is no time schedule to watch the shows, they’re always available. With time, OTT platform is becoming a much more preferred choice than television, and it’ll be interesting to see the scope and future of this industry beholds.