- An over-the-top (OTT) viewer in India spends approximately 70 minutes per day on video streaming platforms, with a consumption frequency of 12.5 times per week, according to an Eros Now-KPMG report.
- Cable TV’s share of total television subscribers has steadily declined from 63 per cent in FY15 to 30 per cent in FY22.
- OTT has so far captured 7-9% of the entertainment industry’s revenue and share.
History is proof that nothing fades faster than technology. Mobile phones killed pagers, smart phones killed keypad mobile phones, laptops killed desktops etc. Ever since the emergence of YouTube in 2007, the entertainment industry across the world has been going under constant revolutionary changes. Be it Snapchat and Instagram changing how we communicate through our pictures, or be it Tiktok giving every person a chance to be a social media entertainer.
Ever since Netflix started its in-house production of entertainment shows and movies, namely with the applaud worthy – House of Cards, it opened the flood gates for tech and media giants to foray into OTT space. It is a win-win for both the consumer and the OTT channel. While the OTT channel gets to bask in the glory of applaud worthy content, and higher consumers, the viewers get a plethora of entertainment to chose from.
Although this technology revolution has been detrimental for the conventional cable network, says industry expert- Snehaashish Pathak, “the last decade has been nothing short of a revolution for a viewer. India, as a giant consumer market, has always been very receptive to big technological advances, and OTT appreciation in the deeper Indian markets, has been no exception.”
Snehaashish Pathak, founder of “White and Black Entertainment” and Director in “RBD Film Productions” has been an industry expert for nearly a decade now, who has work extensively with OTT platforms like Disney Hotstar, Sony LIV, Zee5 and MX Player to name a few.
The OTT has garnered an unprecedented success in metros and big cities, but it is yet to make a bigger dent on the cable network market share in smaller cities and towns in India. But, with its current speed, this doesn’t look far-fetched. Snehaashish says, “As per our latest studies, cable TV’s share of total television subscribers has steadily declined from 63 per cent in FY15 to 30 per cent in FY22. More so, an over-the-top (OTT) viewer in India spends approximately 70 minutes per day on video streaming platforms, with a consumption frequency of 12.5 times per week. The numbers speak for themselves.”
“One has to understand that,” Snehaashish continues, “Indian consumer is and will always be a money saver consumer rather than a money spender consumer. Indian consumer always want to get the best of the deal for the cheapest price possible, and OTT is delivering that. With PM Modi’s continuous efforts to make internet accessible to each and every corner of India, it’s only a matter of couple of years that OTT will emerge as a major threat to the cable network in India.”