: Report: OTT Entertainment Industry in India to hit 15 Bn USD mark by 2030 #IndiaNEWS OTT in India is burgeoning into a multi-billion-dollar industry, cannibalizing into the established bastion of traditional
Report: OTT Entertainment Industry in India to hit 15 Bn USD mark by 2030 #IndiaNEWS
OTT in India is burgeoning into a multi-billion-dollar industry, cannibalizing into the established bastion of traditional television, radio, and cinema auditorium forms of media and entertainment, the latest report by RBSA Advisors suggests.
The size of the OTT market in FY20 stood in the range of 1. 7 Bn USD (both Video and Audio). Home-grown Independent Transaction Advisory firm RBSA Advisors believes that this industry has the potential to grow to be a 15 Bn USD Industry over course of the next nine to ten years.
With access to better networks, digital connectivity, and smartphones, OTT platforms in India have increasingly attracted subscribers on a concurrent basis. Apart from top favorites viz Disney+ Hotstar, Amazon Prime Video, and Netflix, space is seeing many local and regional OTT players, such as SonyLIV, Voot, Zee5, Eros Now, ALTBalaji, Hoichoi, and Adda Times.
Rajeev Shah, MD & CEO RBSA Advisors, COVID-19 has changed the way audience consumes media. An undeniable trend surfaced in this period with the adoption of OTTs. The growing market and consumer appetite for the content of choice available on OTT platforms fuelled this spurt. OTTs offer a never before consumer experience–choice of content, ease of access, choice of device/mediums (handphone, laptop, tablet or TV screen), liberal censorship policy.
Adds Shah, We find ourselves in extraordinary times, where a pandemic has had a negative effect on many traditional sectors. Conversely, COOVID-19 has accelerated the shift in consumers behavior, pulling forward OTT disruption, otherwise which would have taken minimum half a decade.
Also Read: OTT Advertising: Supporting star of media mix set to take a bigger role?
Vivek Menon, Co-Founder & Managing Partner, NV Capital adds, “India is the next bastion after US for boosting the subscriber base of International OTT players given the highly regulated environment of International OTT players in China. Add to that there are many international entrants like Comcast-owned “Peacoch [ ] [ۈ H[H Z][ XZH ZX[[XK[] [ [ H Y HوYKYܛۈ ݚY [ H [[YH] ۙܛ[Y[ [H[ H YX YK8H ]X[] Hو[ [[ ^ [XZ[H YۚYX[ ]وۜ[Yܛ [ X[ YXHX]H H[ܚY[[[Z[ZYۈ ]ܛ[ Y[ٝY HܙX][ܚY[[[[X[]][[K]][] ܚ[ X[ۈ]H[ Y[ YH [ YH[] [ Y ]H][ [ ܛX[ˈ]YY[[[XH X[ H ][YH[ X[Z[ X[] ܚ[ܘ܈ H Y]]ؙ ˈ
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