As per the report by TechSci Research titled "India OTT Media Services Market – Regional Analysis, Competition Forecast & Opportunities, 2018-2028F," the Indian OTT media services market is poised for growth. The surge is attributed to factors such as increased accessibility of streaming services across various devices and a diverse range of shows, contributing to heightened demand for OTT media services throughout the forecast period.
In the Indian context, "OTT" commonly denotes video streaming applications. Unlike traditional cable TV channels, platforms like Netflix and Amazon Prime Video allow users to consume content through dedicated websites or applications.
OTT media services, delivered directly online to viewers, have witnessed substantial growth, fueled by improved internet connectivity and consumer preferences for a broader spectrum of media options, encompassing sports, entertainment, and movies. Notably, OTT has supplanted traditional TV broadcasting as the primary source of screen-based entertainment, particularly in Western countries. On-demand content has taken precedence over scheduled broadcasting, facilitated by these platforms.
Techsci Research Report: https://www.techsciresearch.com/report/india-ott-media-services-market/14730.html
India has responded to the evolving media landscape by increasing the foreign direct investment (FDI) limit in the media and entertainment sector from 74% to 100%.
The market expansion in India is further propelled by the availability of customizable subscription plans catering to different consumer preferences. For instance, companies offer subscription packages based on video quality, allowing consumers to tailor their plans according to their preferred streaming device, be it a smartphone or a smart television.
The rapid adoption of internet infrastructure in India has been a major driver for the popularity of OTT platforms. These platforms bypass traditional distribution channels, delivering content directly to viewers. The COVID-19 pandemic further accelerated the demand for OTT platforms, providing individuals with a means to overcome boredom. Beyond mobile media streaming, OTT networks offer features like offline video downloads in various languages and ad-free services at reasonable prices, likely contributing to continued market growth.
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 India OTT Media Services Market is segmented based on type, video quality, number of screens, region, and company.
The report concludes that the emergence of the OTT market and advancements in OTT technology are anticipated to drive market growth in the coming years. Factors such as rising subscription video-on-demand, increased demand for live streaming channels, diverse payment options, freemium models in price-sensitive markets, and a surge in demand during lockdowns due to the COVID-19 pandemic are expected to shape market dynamics.
Mr. Karan Chechi, Research Director at TechSci Research, highlighted these trends and emphasized the report's role in providing cutting-edge market intelligence to aid decision-makers in making informed investment decisions. The report not only assesses the future growth potential of the India OTT media services market but also provides comprehensive insights into market structure, size, share, and upcoming growth opportunities. It aims to equip decision-makers with the necessary information to navigate emerging trends, challenges, and opportunities in the dynamic landscape of the India OTT media services market.
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TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research's core values are value, integrity, and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high-value market research and advisory services that help them identify new market opportunities, growth engines, and innovative ways to capture the market share. As a result, TechSci's client leads rather than follow market trends.
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