Regional content is helping OTT video services go mass
The OTT (over-the-top) video market in India is beginning to see real traction with more competitors and new innovative platforms on the back of cheaper data bundles. With 180.3 million active online video viewers and almost 4 million registered subscribers, the OTT video services market earned over $37 billion in 2017,according to Frost & Sullivan’s report titled ‘Over-the-top (OTT) Video Services Market, India, 2017–2022’.
The industry will grow at compound annual growth rate of 17.3 per cent over the next five years. The report further says that the OTT video market in India is gradually becoming a mainstream entertainment destination with the rapid rise in the internet user base. With the commoditisation of internet and growth of mobile demography, many households are supplementing their television subscriptions with multiple OTT video platforms. The inclusion of regional content by vernacular-specific platforms has paved the way for a mass-market adoption as opposed to the erstwhile niche offerings catering to urban households. Live sports and other marquee titles offered online have reiterated the growth opportunity of OTT video, encouraging global internet companies to invest and enter this lucrative market.
“The customer experience and user interface need to be prioritised by an operator to stand a chance in this market. Exclusive, original programming and live content will give an edge to some platforms that can afford to offer such services. Platforms with vernacular options will strike a chord with the masses, capturing audiences beyond urban areas. The market is just waking up to the subscription video-ondemand proposition, and it will have more takers in the next five years,” says Aafia Bathool, research analyst, digital media practice, Frost & Sullivan. Telcos are using OTT video services extensively as a bundling strategy for attracting and retaining their consumers. The industry is witnessing growing partnerships among telecom operators, handset makers and distributors, and content aggregators.