Digital TV is likely to hit the industry in a bigger way than it already has. FMCG, Telecom, BFSI and Real Estate will continue to be growth drivers for Digital. The Indian film industry is expected to cumulatively clock a revenue of Rs 19,200 crore by 2020 compared with Rs 22,400 crore for digital in the same time.
The report further says, new-age digital platforms with video contents are witnessing rapid expansion, without cannibalising on the traditional television set or the newspaper. Just like the smartphone segment, the video streaming space (also known as OTT or over the top) in the country is witnessing a fierce fight between indigenous and global players with the latter gaining a stronger foothold in the domestic market.
Many has claimed that online media streaming platforms, that also include Hotstar, show content which is "unregulated and uncertified" for public viewing. There are television series like "Sacred Games", "Game of Thrones" and "Spartacus", shown on platforms like Netflix, contain "vulgar, profane, sexually explicit, pornographic, gaining more attraction towards the viewers.
With the increase of internet speed, fall in data tariffs and greater internet penetration could double the number of digital video consumers to 500 million by 2020.We expect the momentum in Digital to continue and project a growth rate of 25% in 2019. As the reach of Digital crosses 450 million and the smartphone Internet user-base crosses 300 million.
India is one of the few countries in the world where we are witnessing most mediums growing hand-in-hand and we see this continuing in the foreseeable future. We expect India to remain a multi-modal market where all forms of media, including traditional media like TV and digital to co-exist. A report says, Indians are now spending an average of 190 minutes per day across various video platforms.
The growth of smartphone, e-commerce and online streaming in the US has slowed, so global internet companies are on the hunt for their next big market. China’s protective policies and regulatory hurdles make it off-limits for most such behemoths. So India it is.
Netflix launched in India with much fanfare. The company initially planned to target the rich and elite Indian crowd and tech-savvy professionals, who have smartphones and own Apple accounts. The battle for Indians’ eyes and screens is not just about streaming video. Streaming applications like Hotstar, Amazon Prime, Netflix, and BIGFlix made an entry into the Indian entertainment market. In fact, new-age televisions come with these apps preinstalled.
The 4th Industrial Revolution is also including the growth of Digital Television is going to be the future and it may kill the Indian television industry, where the boundaries between the real world, the virtual world, and machinery, are breaking down. We can only expect technology to become more superior and sophisticated in every sense: augmented reality, big data, virtual reality, artificial intelligence and the most disruptive one-cryptocurrency-are a few to name.
India’s overall media consumption, across platforms, has been growing at a compounded annual growth rate (CAGR) of 9% over the past six years, almost twice that of China’s and nine times that of US growth rates. Smartphones are set to change that with more internet companies pushing vernacular content to reach the masses here. The film and Television industry is disrupted by the arrival of YouTube, Netflix, and Amazon Prime, Hotstar, Viacom 18 (VOOT), Jio Cinema, Balaji Telefilms (Alt Balaji), and ZEE Media Corp (ZEE5) has sizeable subscriber bases. Despite their substantial clout with end users, posing a credible challenge to Bollywood could yet be a pipe dream. However, the future of the entertainment sector continues to be clouded by uncertainty despite posting robust gains.
The (Indian and Multi-national)corporates are coming out with various goodies like, Amazon Prime Video bundled with the company’s next-day delivery service has brought it huge number of users. Netflix also signed up with Airtel, wherein the telecom operator gave a three-month subscription of Netflix with every Airtel post-paid connection. However, Hotstar continues to the leader in the OTT space in the country, the Star India-owned company’s market share has slid to 30.4 per cent as on October from 36 per cent at the start of the year.
Lastly, OTT demand in India is growing on the back of cheaper data and smartphones. Just like the smartphone segment, the video streaming space (also known as OTT or over the top) in the country is witnessing a fierce fight between indigenous and global players with the latter gaining a stronger foothold in the domestic market.
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