|Over-the-top (OTT) Video Services Market, India, 2017–2022|
|Competition Intensifies on the Back of Content Strategies to Tap into $3 Billion Market Potential|
The OTT video market in India is gradually becoming a mainstream entertainment destination in the midst of growing Internet users. With the rapid commoditization of data and the ongoing price wars, online video streaming is a more feasible option today than ever before. This has led to the influx of many global, local, and independent platforms in the past year that are hoping to capitalize on this vast growth opportunity in the market. As operators optimize their operations with advertising revenues, they are evolving content strategies and marketing effectively to reach the masses. The focus has shifted from the urban youth to mass market, regional audiences across multilingual backgrounds.
There is a disconnect between the total addressable market of Internet users and the served market, as a majority of the population has access to erratic and slow broadband speeds. The focus on Hindi and English programs has gradually shifted toward regional content, thus catering to a larger audience. Monetization of platforms remains one of the biggest challenges for operators, as they depend on advertising for their revenue. The inclusion of regional content has paved the way for mass-market adoption as opposed to the initial niche offering. Live sports and other marquee titles going online has reiterated the growth opportunity for OTT video, attracting global Internet companies to invest and enter this lucrative market.
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