Video Streaming Redefines Entertainment

Coming out of its linear TV shadow, the OTT space in India has come a long way in a very short span of time. It is no longer a mere platform for catch-up shows or mini web-series, but has redefined entertainment like never before. The year 2018 had been quite special for the video streaming platforms

With smartphones becoming ubiquitous and an integral part of our lives, entertainment too has undergone a massive change in today’s digital age, thanks to the over the top (OTT) platforms such as Netflix, Amazon Prime Video, Hotstar, SonyLiv and Eros Now, piggybacking on our telecom/ internet carriers. The recent popularity of ‘Sacred Games’, ‘Ghoul’, ‘Mirzapur’ etc. speaks volume about video-streaming platforms becoming our ideal companion while travelling or before going to bed. The trend is catching up in such a way that people’s preferences are shifting from big screens to smartphones, and that too as per ones mood and convenience, unlike televisions and celluloid where one has to wait for a particular show to start.

Emerging out of its linear TV shadow, the OTT landscape is in fact getting its own band of subscribers in India. It is no longer a mere platform for catch-up shows or mini web-series. These platforms, which provide video content over the Internet, are coming up with compelling original content that is finding great traction with viewers. According to a Frost & Sullivan study released last year, the OTT 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 (until June last year), the OTT video services market earned over Rs 37 billion in 2017, and is expected to grow at a CAGR of 17.3 per cent over the next five years, the study said.

The OTT video market in India is gradually becoming a mainstream entertainment destination with the rapid rise in the internet user base and cheap smart devices which are now easily available across the globe. Content genres like entertainment, sports, and regional are emerging as the key focus areas for the OTT platforms. Most of these players are at early stages of their maturity and are focusing on rapid consumer aggregation and driving engagement….Click here to read the full story