The BCG report also noted that the OTT content market in India is at an inflection point
There are more than 30 OTT apps and the study shows over 80% of the people don’t use more than three apps
Also, rural India will play a big role in OTT consumption
As data becomes more affordable than ever, along with mobile phones, India is experiencing a transformation in how it watches videos and listens to music.
Documenting this change in a report entitled ‘Entertainment Goes Online’, the Boston Consulting Group (BCG) said that over the top (OTT) content — video content delivered through the internet — is expected to reach a market size of $5 Bn (INR 35,730 Cr) by 2023.
The country’s shift from watching TV in a social, mostly familial, manner to highly personalised small screen consumption is being driven by access to affordable data, rural mobile phone penetration, rising affluence, and service adoption across demographic segments — including women and older generations, the report noted.
Currently, digital media accounts for about 16% of the media consumption in India. Relative to developed countries, the OTT content market in India is lagging. While there are various business models — subscription-based platforms (SVOD), advertising-based platforms (AVOD) and transaction-based platforms (TVOD) — the market is still at a nascent stage and holds a lot of promise, the report said.