According to TechSci Research report, “India OTT Media Services Market –By Region, Competition Forecast Opportunities, 2018-2028F.” The India OTT media services market is expected to grow during the forecast period owing to several factors such as increasing accessibility of streaming services on different devices and availability of extensive range of shows are expected to drive the market demand for OTT media services through the forecast period.
The phrase "OTT" is commonly used to refer to video streaming apps in India. In contrast to cable TV channels, OTT services such as Netflix and Amazon Prime Video let users watch content through their websites or applications.
Over-the-top (OTT) media services are ones that are given online directly to viewers. The market's expansion has coincided with an increase in better internet connections and consumer demand for a wider range of media offerings, including sports, entertainment, and movies. OTT has displaced traditional TV broadcasters as the main source of screen-based entertainment in many nations, especially in the West. With the help of these platforms, on-demand content has taken the place of scheduled broadcasting.
In accordance with an article, India has raised the foreign direct investment (FDI) limit for the media and entertainment sector from 74% to 100%.
The availability of customizable subscription plans for various consumers is the factor fueling the market expansion in India. As an illustration, some companies provide subscription packages based on the streamed video quality, the lower the quality of the video, the lower the subscription cost. Giving consumers options, as some lower bandwidth as they stream OTT content on their smartphones, which doesn't require as much video quality as compared to television, while those who prefer to watch OTT content on smart television are likely to buy expensive subscription plans that offer higher quality due to the larger screen size of the television.
The great popularity of OTT in India has been largely attributed to the quick adoption and development of internet infrastructure. By avoiding conventional distribution channels and media networks, OTT platforms are able to distribute content straight to viewers, which is driving the market. Other factor that is driving the market demand for OTT platforms is its increasing popularity and acceptance as individuals were forced to stay at home as a result of the Covid-19 pandemic. It has assisted people in overcoming boredom. OTT networks provide more than just mobile media streaming. One can download videos in various languages to watch them offline on their devices and stream ad-free services for a reasonable price, thereby most likely to have a favorable impact on market growth.
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The India OTT Media Services Market is segmented on the basis of type, video quality, number of screens, region, and company
Based on type, the market is further segmented into SVOD, AVOD, and TVOD. Among these segments, SVOD is the fastest growing owing to the variety of content available on the platform, as well as the provision of regional content, which fuels the growth of the market segments.
Based on video quality, the India OTT media services market is segmented into HD, Full HD and Ultra HD. Based on number of screens, the market is further segmented into 1, 2-3, and more than 3. On the basis of region, the market is further segmented into North, South, West, and East.
Key market players in the India OTT media services market include:
- Netflix Entertainment Services India LLP
- Zee Entertainment Enterprises Limited
- com, Inc.
- Novi Digital Entertainment Private Limited (Disney + Hotstar)
- Viacom18 Media Private Limited
- Sony Pictures Networks India Pvt. Ltd.
- ALT Digital Media Entertainment Limited
- Hungama Digital Media Entertainment Pvt Ltd.
- MX Media Entertainment Pte. Ltd.
- Apple, Inc.,
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“The emergence of the OTT market and rapid progress in OTT technology are two key trends that are anticipated to positively impact on market growth over the coming years. The market demand is anticipated to be influenced by factors including rising subscription video-on-demand, rise in demand for live streaming channels, and accessibility of various payment options. Moreover, the availability of freemium models in price-sensitive markets and the surge in demand for OTT services games during the lockdown period implemented as a result of the Covid-19 outbreaks are driving market demand.," said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India OTT Media Services Market, By Type (SVOD, AVOD, TVOD), By Video Quality (HD, Full HD, and Ultra HD), By Number of Screens (1, 2-3, more than 3), By Region, By Company, Forecast and Opportunities, 2018-2028F”, has evaluated the future growth potential of India OTT media services market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the India OTT media services market.
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