India’s OTT market is the fastest growing, has potential to become largest in the world

OTT entertainment is rising and challenging the supremacy of the television presence in Indian households. With the increasing popularity of digital platforms, they can be seen as the second largest population around the globe. From Ramanand Sagar’s serial Ramanyana showcased in 1987 to the famous Hwang Dong-hyuk’s Squid Game featured in 2021, people have seen a tremendous shift in the quality and quantity of content made and served.

As per the Consultancy, the OTT market size in India is rising from 181 bn to 204 bn minutes by the end of 2021. It is not at all denying the fact that these OTTs platforms are taking over. It has already led to the expansion and has affected the Indian audience diversely? Satta Matka team is here at Betway to blow the findings:

Viewership for OTT platforms
Digitalization has been evolving rapidly for the past many years. The recent pandemic has caused a big surge in the viewership of the OTT platforms in the country, while OTT content consumption is highest, especially among the age group ranging from 15-35 years. As per the reports generated by the MICA’s Centre for Media and Entertainment Studies (CMES):

• Hotstar alone holds 29% of the total viewership. Its revenue in 2020 was counted to be 16 billion rupees.
• One billion USD is currently invested in the OTT industry by business tycoons and venture capitalists.
• The Indian subcontinent will experience a rising trend in terms of OTT users by 2023. There are about 350 million subscribers, and the projection will reach 500 million users soon.
• For women, the OTT content consumption is highest at the age of 25-35 years, and the number is increasing during the pandemic. They also contributed to about 50% of the overall consumption compared to men.

Expansion
For the OTT proliferation, the major global reason can be seen as its convenience. Everyone requires high-speed internet connectivity and other supported devices. In India, the journey for crossing five million subscribers for Netflix was quite bumpy. The expansion in urban and rural areas is majorly due to two below listed contributors:

The rapid smartphones expansion and their digital consumption usage
The invention of cheap high-speed internet connectivity from various service providers.

Once smartphones reached the rural cornerstones in India, the OTT adoption was quite apparent. Its impact also saw the audiences gaining access to diversified and high-quality content compatible with the devices. On the other hand, OTT platform producers and developers have realized the population potential. Before NetFlix became a household name, domestic platforms like HotStar and SonyLiv have captured the limelight with Live Sports and regional shows streaming.

Effect on Age Groups
Youth comprised the largest audiences for OTT platforms in India. Professionals and entrepreneurs also have adopted the OTT as their daily routine. The newest concept is known as “Netflix and Chill”, has made its way through urban lifestyle and takes up the role of an entertainer and friend.

Children have benefitted from the content available on OTT platforms. Free content and edutainment on these OTT platforms have helped kids educate and entertain themselves digitally.

Regular content updates on these OTT platforms has been a boon to the senior population in India. On the one hand, couples enjoy the hits with their partner, while those in solitude can access the huge chunk of religious and spiritual content available on these OTT platforms.

Conclusion
The OTT expansion in the fitness, entertainment and health fields has solidified the base. The platform has opened new avenues for actors, content creators and also Indian audiences have perceived it as a medium for entertainment. Telegraph India